M&M hives off another business. Raises money from IFC.

Mahindra & Mahindra (M&M) is currently undergoing an extensive reorganisation exercise. It recently, Separated out the Passenger EV business Sold stake in the renewable business Partnered Actis to develop warehousing Now it has announced separating out the Last Mile Mobility Business and is also raising external funding in it from IFC. Last mile mobility business … Read more

Mahanagar Gas goes for inorganic route

Mahanagar Gas (MGL) is acquiring 100% of Unison Enviro Private Limited (UEPL). UEPL incorporated in December 2015, is a subsidiary of Ashoka Buildcon. The Company has been supported by Morgan Stanley India Infrastructure fund since pre revenue days. It has been granted authorization from Petroleum and Natural Gas Regulatory Board (PNGRB) to develop City Gas … Read more

Minda acquires significant stake in Pricol. Sparks hostile takeover buzz.

Minda Corporation has acquired 15.70% stake in Pricol through open market transactions. Shares have been acquired @ Rs 209/ share, similar to the current prevailing price. The amount spent on acquisition is Rs 400 cr Did Pricol promoters also sold any shares? Promoters held 36.53% stake in Pricol as at December 31, 2022. Of the … Read more

Vedanta to divest its foreign Zinc assets to Hindustan Zinc

Vedanta has approved the sale of it’s international Zinc assets in South Africa and Namibia to it’s subsidiary Hindustan Zinc (HZL). The transaction is valued at $2.98 bn (approx Rs 25,000 cr) It’s an all-cash deal, which would be completed in a phased manner over 18 months Valuations are estimated at 14.9x FY 24 EV/EBITDA. … Read more

Eris buying a part of dermatology portfolio of Glenmark

Eris Lifesciences is acquiring 9 dermatology brands from Glenmark Pharma. The brands are – Onabet, Halovate, Sorvate, Luligee, Demelan, Aceret, Dosetil, Revize, and Powercort, and their sub-brands. The acquisition is for the India and Nepal Territories Consideration for the transaction is Rs 340 crore payable in cash. Turnover of the acquired brands: FY 20 – … Read more

360 One acquires controlling stake in Mumbai Angels

360 One has completed acquisition of a controlling stake in Mumbai Angels. Mumbai Angels is one of the oldest and a leading player in the early investment space. Financial details of the transaction have not been disclosed. Reason for the subject transaction is obviously the synergy between Mumbai Angel’s network, wide experience in the investment … Read more

Sona takes a significant stake in a ADAS start-up

Sona BLW Precision Forgings Ltd. (Sona Comstar) has signed an agreement to acquire 54% equity stake in NOVELIC, a Serbian Company founded in 2012. NOVELIC is primarily into providing sensor based solutions for smart vehicles. Sona’s immediate objective is to use it’s own existing client relationships to ramp up NOVELIC’s ADAS (Advanced Driver Assistance Systems) … Read more

V-Guard acquires Sunflame. Attractive pricing.

V-Guard Industries is acquiring 100% shareholding of Sunflame Enterprises Private Limited (SEPL). SEPL through its brands ‘Sunflame’ and ‘Superflame’, is one of the leading players in the kitchen appliances space in India. The Company offers a wide product portfolio including cooktops, chimneys, pressure cooker, mixer grinder and small kitchen appliances. Consideration value for 100% stake … Read more