Drugmakers Cadila Healthcare Ltd and Torrent Pharmaceuticals Ltd are in the nascent stages of negotiations for a merger, a business news channel reported citing multiple people in the know.
More clarity on the proposed structure and valuations can be expected in the next six months, ET NOW said citing one of the persons mentioned above.
If the deal goes through, the combined market capitalisation of the entity will be nearly Rs 70,000 crore.
Lenovo Capital and Incubator Group
Gurgaon-based Aaidea Solutions Pvt. Ltd, which runs micro-delivery service Milkbasket, is set to receive pre-Series A funding from Lenovo Capital and Incubator Group (LCIG), the venture capital arm of electronics brand Lenovo, and existing investors, a report in business news portal e27 stated.
The investment will mark LCIG’s foray into India. Milkbasket’s previous investors will partially exit their investment in the startup, a person aware of the development told e27.
Milkbasket was founded in 2015 by INSEAD and Wharton alumnus Anant Goel along with Ashish Goel, Anurag Jain, and Yatish Talavadia. The asset-light startup aims to fulfil the daily grocery and household needs of customers.
It raised $500,000 in a pre-Series A funding led by venture capital firm EVC Ventures in April 2016.
Through the Lenovo Capital Phase II Investment Fund, LCIG aims to invest $500 million in Internet-related businesses globally. The fund’s focus areas are cloud computing, big data, artificial intelligence, robotics and internet services, information on its website states.
Special situations fund AION Capital Partners Ltd and the stressed assets units of Piramal Enterprises Ltd and private equity fund Bain Capital Credit may buy a stake in debt-laden textile company Alok Industries, a report in Mint stated, quoting two people aware of the development.
Alok Industries is one of 12 companies that the Reserve Bank of India has identified for bankruptcy proceedings after they failed to repay debt. Alok owed lenders Rs 23,400 crore as of 31 March 2017.
Piramal Enterprises Ltd has entered into a joint venture with Bain Capital Credit India Investments to invest in distressed assets. Piramal Enterprises will transfer a 50% stake in its wholly owned subsidiary Piramal Assets Reconstruction Pvt. Ltd to Bain Capital Credit, according to a stock market disclosure in July this year.
AION Capital Partners Ltd is a joint private equity fund sponsored and run by Apollo Global Management India Advisors Private Limited and ICICI Venture Funds Management Company Ltd.
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