Viom Makes Rs 7,500Cr Offer For GTL Infra - Telecom tower company Viom Networks has made a Rs 7,500-crore offer to buy out its competitor GTL Infrastructure. There is a valuation mismatch as GTL promoters are learnt to be eyeing valuation of over Rs 10,500 crore (excluding its debt). SBI Capital Markets is advising Global Group, the parent company of GTL and GTL Infrastructure, on the possible sellout or stake dilution. Viom is 53% controlled by the Tatas, while Kolkata-based Kanorias, founders of Srei, have 27% with foreign institutional investors holding the remaining 20%. (Economic Times)

PVH May Buy Tommy Hilfiger's India Rights For Rs 500Cr - New York-based PVH Corp, the latest owner of Tommy Hilfiger worldwide except India, plans to buy the rights of the brand from Mohan Murjani. Murjani holds the rights for Tommy Hilfiger in India in perpetuity. The $5-billion PVH Corp, formerly Phillips-Van Heusen Corporation, which bought Tommy Hilfiger from private equity firm Apax Partners last year, may shell out more than Rs 500 crore for the rights. (Economic Times)

VLCC Eyes European, South-East Asia Buys - Wellness and beauty company VLCC Healthcare Ltd is in advanced talks to buy a European nutraceuticals and skincare firm and a South-East Asian wellness company as it makes a fresh bid to enter new markets and businesses. New Delhi-based VLCC has earmarked $50 million (around Rs.220 crore) for acquisitions and expansions. VLCC has mandated investment bankers to explore fund-raising options to back the acquisitions and the new business. VLCC had revenue of about Rs.500 crore in the ended 31 March.

L Capital Takes 25.5% In Genesis Luxury - L Capital Asia, a private equity fund of global luxury giant LVMH Group, on Thursday announced its first investment in India by picking up 25.5 per cent stake in Genesis Luxury Fashion Pvt Ltd for an undisclosed sum.L Capital Asia has already invested and signed agreements with five companies in South East Asia and China. L Capital Asia launched a private equity fund of $650 million dedicated to investments focused on markets like China, South East Asia and India. (Economic Times)

Hotel Leela To Get Rs150Cr For Bangalore Land - Hotel Leelaventure expects to realise about Rs 150 crore by monetising its land adjacent to its Bangalore property — The Leela Palace Bangalore. The company informed the Bombay Stock Exchange that it has executed a joint development agreement with Bangalore-based developer Prestige Group to develop premium residential apartments on 2.3 acres of surplus land adjacent to its Bangalore property. The surplus land, which the company proposes to monetise, is situated just off Old Airport Road. (Business Line)

IFCI Factors Files For IPO; To Raise Rs 750-1,000Cr - IFCI Factors today filed the draft prospectus with market regulator SEBI for an initial share sale which could garner about Rs 1,000 crore.

IFCI Factors, an arm of leading financial institution IFCI, is expecting to mop up between Rs 750 crore and Rs 1,000 crore through the offering, according to market sources. The issue will constitute 33 per cent of the post issue paid up share capital of the company. (Business Line)

PNB Buys 30% In MetLife India - Punjab National Bank has agreed to pick up a 30% stake in MetLife India which will make it the single largest shareholder in the private insurance company. The two parties have agreed that once the deal is finalized the company will be renamed PNB MetLife India. MetLife India has a paid-up capital of Rs 1,997 crore. The life insurer will issue fresh shares to PNB which will increase the size of the company's capital to Rs 2,596 crore. (Times of India)

Deccan 360's CEO, COO Quit - Captain GR Gopinath-promoted logistics company Deccan 360 is facing further turbulence after two top executives quit the company in July. Chief executive HL Rikhye and chief operating officer Vikram Mansukhani have both handed in their papers earlier this month, and their replacements are yet to be announced. Close to 200 employees have been laid off since May. (Economic Times)

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