India: Warburg Pincus, Embassy to invest $250m to build industrial parks

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An affiliate of private equity (PE) firm Warburg Pincus and realty firm Embassy Group will invest $250 million in Embassy Industrial Parks Pvt. Ltd, a joint venture firm set up to build industrial parks with warehousing facilities in different cities, company executives said on Thursday. In a 70:30 equity partnership,… Read more »

India: DLF promoters to sell 40% stake in rental arm

Promoters of DLF Ltd, India’s largest developer by market value, will sell their 40% stake in a subsidiary that owns many of the company’s rent-generating assets and a few land assets to institutional, third-party investors, the company said on Thursday. The move facilitates the monetizing of the company’s rental assets… Read more »


India: Electrical equipment maker Crompton Greaves sells entire stake in JV firm for $6m

Electrical products maker Crompton Greaves, part of Gautam Thapar-promoted Avantha Group, has divested its entire 50 per cent stake in joint venture (JV) firm CG Lucy Switchgear Ltd to its partner W Lucy & Co Ltd for $6 million (about Rs 40.26 crore). CG Lucy Switchgear is a 50:50 manufacturing… Read more »


Temasek in race to buy Care Hospitals, Tata Communications’ data centres

Temasek Holdings, Singapore’s sovereign wealth fund, is vying to acquire two major companies in India — Care Hospitals, which runs India’s fifth largest hospital network, and the data centre business of Tata Communications. For the Care Hospitals bid, Temasek has teamed up with TPG Growth, the equity investment platform of TPG, the… Read more »


India: Tiger Global to infuse fresh capital in classifieds portal Quikr

New-York based Tiger Global Management is expected to infuse fresh capital in online classifieds major Quikr, which is close to acquiring realty portal CommonFloor for about $160 million, over a three times jump in the previously quoted deal amount. The acquisition may also see Bengaluru-based Quikr, which is being valued… Read more »


India Dealbook: Cube26 raises funds from Tiger Global; Sanjeev Kapoor backs ZuperMeal; Naturally Yours gets seed funding

Information technology firm Cube26 has raised an undisclosed amount in funding from venture capital firm Tiger Global Management, while online organic food brand Naturally Yours has received seed funding from serial entrepreneur and angel investor Sanjay Mehta. In a separate funding round, ZuperMeal has raised $2 million from celebrity chef Sanjeev… Read more »


India: Mobikon gets funding from Qualgro, Life.SREDA

Mobikon, a Pune, India and Singapore-based maker of cloud-based marketing software, has raised funding from fintech-focussed Life.SREDA and Qualgro, an Asean fund. While the amount of funding was not disclosed, Mobikon said in a release that it will help the company expand its tech capabilities and expand to new geographies such… Read more »


India: Café Coffee Day owner details IPO plans

Coffee Day Enterprises Ltd (CDEL), the owner of the Café Coffee Day chain, claimed that its scale and operational efficiency will help it take on competition from international coffee shops. “We have seen out all the storms. The first wave of competition came in 2005 and then four years ago… Read more »


India: Japan’s Sumitomo Forestry buys 26% stake in Spacewood Furnishers

Modular furniture maker Spacewood Furnishers Pvt. Ltd on Wednesday said it has sold its 26% stake to Japanese firm Sumitomo Forestry Co. Ltd, a housing materials and timber trader. The company did not disclose the deal amount. Spacewood will increase its retail footprint with this money from 15 stores to… Read more »


Indian drugmaker Cipla forms JV with Biopharma SPA in Algeria

Indian drugmaker Cipla Ltd has entered into an agreement with Biopharma SPA for establishing a joint venture (JV) company in Algeria to manufacture and market respiratory products. “Cipla (EU) Ltd, a wholly-owned subsidiary of the company has entered into a definitive agreement with Biopharma SPA for establishing a joint venture… Read more »