India Digest: Gionee to sell arm; Generali to up stake in JVs; Piramal exits unit; UltraTech to raise $1.3b

Gionee F103. Photographs: Priyanka Parashar/Mint

China’s Gionee is selling its India operations to Gionee India minority shareholder Arvind R Vohra and the promoters of handset maker Karbonn Mobile while Italy’s Generali is increasing its stake in insurance JVs with India’s Future Group. In another M&A deal, Piramal Enterprises is divesting its entire stake in its subsidiary Piramal Imaging SA (PISA) to UK’s Alliance Medical Acquisitionco. Meanwhile, UltraTech Cement is planning to raise Rs 9,000 crore via an issue of redeemable, non-convertible debentures on a private placement basis.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.