<article>While Baring Asia is looking to pare its stake in Hexaware Technologies, Muugappa Group firm Tube Investments has acquired two Sri Lankan companies. Also, Earthcon Infracon has raised funds from NiFCO.</article>

While Baring Asia is looking to pare its stake in Hexaware Technologies, Muugappa Group firm Tube Investments has acquired two Sri Lankan companies. Also, Earthcon Infracon has raised funds from NiFCO.
<h3>Baring Asia looks to sell 10-15% stake in Hexaware through bulk deals</h3>
<a href="http://dealstreetasia.com/tag/baring-asia" target="_blank" rel="noopener">Baring Asia</a> is looking to part exit its four-year-old investment in software firm <a href="http://dealstreetasia.com/tag/hexaware" target="_blank" rel="noopener">Hexaware Technologies </a>by selling 10-15 per cent stake through multiple block deals, said <a href="http://epaper.timesgroup.com/Olive/ODN/TheEconomicTimes/#" target="_blank" rel="noopener">a report</a> in The Economic Times citing sources.
As per the sources cited in the report, the block deals could be launched as early as next week and Baring could raise around Rs 980-1,470 crore.
Singapore-based Baring Asia acquired Hexaware in 2013 for about $260 million. It was reported last year that Baring Private Equity Asia was looking to sell its 71 per cent stake in Hexaware Technologies at a valuation of about $1.2 billion.
<h3>Muruguppa Group firm acquires two Sri Lankan cycle cos</h3>
Tube Investments of India Ltd, part of the <a href="http://dealstreetasia.com/tag/murugappa" target="_blank" rel="noopener">Murugappa Group</a>, is set to acquire 80 per cent each in two Sri Lankan cycle makers-  Great Cycles Pvt Ltd and Creative Cycles Pvt Ltd for $3.34 million.
Both the Colombo-based companies are promoted by Shuyuan Gan, who holds 100 per cent stake in them.
The acquisition will help TI Cycles of India (TICI), a division of Tube Investments to augment its business.
&#8220;The present acquisition is part of the strategy of TICI to strengthen its backend sourcing chain for the premium bicycle offerings. Besides securing the supply, the acquisition is also expected to help TICI in being competitive in the market with regard to its product offerings in the premium segment,&#8221; the company said, in a filing to the stock exchanges.
<h3>Earthcon Infracon raises $7.7m from NiFCO</h3>
Noida-based Earthcon Infracon, a subsidiary of Earthcon Universal Infratech has raised Rs 50 crore ($7.7 million) from real estate debt fund <a href="http://dealstreetasia.com/tag/nifco" target="_blank" rel="noopener">Nisus Finance Services Co (NiFCO)</a>, said <a href="https://economictimes.indiatimes.com/industry/services/property-/-cstruction/nisus-finance-invests-rs-50-crores-in-earthcon-universals-housing-projects/articleshow/61964481.cms" target="_blank" rel="noopener">a report</a> in The Economic Times.
The funds have been raised towards the development of residential apartments in Earthcon Universal&#8217;s projects Casa Royale and Sanskriti, Greater Noida West, Uttar Pradesh.
&#8220;This investment is in line with our strategy to back affordable housing and plotting projects that are customer focused. While NCR, especially Noida is facing its worst credibility crisis amongst buyers and investors, there are groups like Earthcon who are distinguished by their commitment and focus,&#8221; Amit Goenka, MD &amp; CEO, Nisus Finance told the news paper.
For this deal, NiFCO has partnered with Landmark Holdings, the real estate investment arm of the Dalmia Group, as a co-investor.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-nifco-to-deploy-21m-in-four-real-estate-projects-50010/" target="_blank" rel="noopener">India: Realty fund Nifco to deploy $21m in four housing projects</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-baring-asia-talks-sell-71-stake-hexaware-1-2b-valuation-25884/" target="_blank" rel="noopener">India: Baring Asia in talks to sell its 71% stake in Hexaware at $1.2b valuation</a>

While Baring Asia is looking to pare its stake in Hexaware, Tube Investments has acquired two Sri Lankan firms. Also, Earthcon has raised funds from NiFCO.

India: Hexaware stake sale; Tube Investments buys Sri Lanka cos; Earthcon fund raise

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India: Hexaware stake sale; Tube Investments buys Sri Lanka cos; Earthcon fund raise

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