The government has received expressions of interest (EOIs) from several parties including Vedanta Resources, Megha Engineering and Infrastructure, and Great Eastern Shipping for its 63.75% stake in Shipping Corp of India (SCI), two people told Mint.
Also, packaging material manufacturer Jindal Poly Films is looking to raise up to Rs 1,200 crore through a significant minority stake sale and has hired Rothschild to run the sale process, two people told The Economic Times.
US-based Blackstone had done the largest buyouts in the Indian packaging industry as part of which Piramal Glass was acquired at an enterprise value of $1 billion in December 2020 and Essel Propack for $470 million in 2019.
Mahindra & Mahindra-backed Meru had planned to raise up to Rs 400 crore and was in talks with a clutch of strategic investors over the last six to nine months, the report added.
M&M had previously said that it would look at an initial public offering (IPO) for its mobility unit, of which Meru is a part, to unlock value. It had planned to make the mobility business – which includes Meru, Alyte and Glyd – a $1 billion offering over the next three to four years.
The group is already an investor in self-drive car rental platform ZoomCar India and has integrated Meru EVGO and Mahindra’s electric vehicle platform Glyd for city and outstation travel.
“Inshorts will be valued at over $350 million in the fresh financing round which includes a secondary component from early backers,” one of the persons said.
In September 2020, the Noida-based firm raised a $35 million funding round led by Lee Fixel’s new venture capital firm Addition.
This would be the first institutional round for the Chennai-based firm.
“The company will be valued at $35 million (post-money) in its Series A round,” one of the persons said.
Last year, spacetech startup Pixxel had raised $5 million in its seed round led by Lightspeed Venture Partners.
And Pune-based Vesta Space raised $10 million from Next Capital in May 2020.
Agnikul raised Rs 23.4 crore in its seed round led by Pi Ventures at a valuation of Rs 70 crore or $9.5 million in February last year, the report said citing regulatory filings. Also, the startup was recently backed by Mahindra Group Chairman Anand Mahindra.