India: E-tailer Snapdeal in talks with investors to raise $300m for FreeCharge


Jasper Infotech Pvt Ltd, which runs India’s second largest e-commerce marketplace Snapdeal, is in talks with existing and new investors to raise about $300 million (Rs 2,000 crore) for its digital services platform FreeCharge, according to a report in The Economic Times. The fundraising, for which talks have begun with… Read more »

India: Max Healthcare buys BK Modi’s Saket City Hospital in Delhi

Max Healthcare Institute Ltd, an equal joint venture between Max India and South Africa-based Life Healthcare, will acquire a 51% stake in Saket City Hospital Pvt. Ltd from Smart Health City Pte Ltd, the Singapore-based BK Modi Group company which manages and operates the Delhi-based hospital. The value of the… Read more »

Easier to start business in India, difficult to get credit: World Bank Report

It has become more difficult for Indian businesses to access credit and pay taxes, but it is much easier to start a business, according to World Bank’s Doing Business Report 2016. India improved its performance on three parameters—starting a business, getting construction permits and accessing electricity—in the World Bank Ease… Read more »

Hindustan Coca-Cola acquires Georgia tea, coffee business in India

Hindustan Coca-Cola Beverages Pvt. Ltd (HCCB), the bottling arm of American beverages company The Coca-Cola Co., on Wednesday said it has acquired the Georgia tea and coffee business from Coca-Cola India Pvt. Ltd. Effective October, the manufacturing and distribution of Georgia will be handled across the country by HCCB, the… Read more »

Gammon India sells 75% stake in T&D unit Transrail Lighting to Bilav Software

Gammon India Ltd has sold 75 per cent stake in Transrail Lighting Ltd, a part of Gammon’s T&D business, to Bilav Software Pvt Ltd, a provider of financial information, according to its disclosure to the Bombay Stock Exchange. As a part of the agreement, Bilav Software will infuse Rs 47.7… Read more »

Australia’s Macquarie Infrastructure and Real Assets to invest in Indian realty projects

Macquarie Infrastructure and Real Assets (MIRA), an arm of Australia’s Macquarie Group Ltd, which manages over $100 billion of assets across funds globally, is set to invest in real estate projects in India, three people familiar with the development said. MIRA has appointed R.K. Narayan as managing director of its… Read more »

India, a challenging place for infra investments: Canada Pension Board CEO

India remains a challenging place for infrastructure investments, thanks to the executive risk associated with projects, complicated investment structures due to taxation policies and unpredictable regulations, said Mark Wiseman, chief executive of Canada Pension Plan Investment Board (CPPIB), which manages 268.6 billion Canadian dollars ($203.09 billion) in pension fund assets…. Read more »

India: IndiGo parent InterGlobe Aviation’s IPO subscribed 87% on day 1

The much anticipated Rs.3,130 crore initial public offering (IPO) of InterGlobe Aviation Ltd, owner of India’s largest and most profitable airline, IndiGo, was subscribed 87% on Tuesday. An analyst saw the response as an indication of faith in the Indian aviation story, although it probably has more to do with… Read more »

India: Essar Ports fixes $1.4 per share as floor price for delisting

Promoters of Essar Ports Ltd have fixed Rs.93.66 as the floor price per share for acquiring 10.72 crore equity shares from public shareholders. At this floor price, promoters will have to shell out Rs.1,004 crore to buy out 25.06% in share capital from the public as a part of the… Read more »

Vinod Khosla leaves mobile payment company Square’s board ahead of its IPO

Mobile payment company Square Inc said Director Vinod Khosla, the company’s second largest shareholder, had left its board ahead of its initial public offering. Khosla will remain an adviser to Square’s board, the company said in a filing on Monday. Khosla, who is the co-founder of Sun Microsystems, confirmed his… Read more »