Peepul’s Reddy to buy Medall; Zee eyes INX Media; Ascendas acquires Pune land
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Sandeep Reddy, the co-founder of India-focused private equity firm Peepul Capital LLC, is looking to buy diagnostics firm Medall Healthcare Pvt. Ltd, which is part of his own portfolio. Citing two unnamed individuals, a Mint report said that Reddy is in talks with financial institutions as well as Peepul’s limited partners to fund his bidding.

In January, VCCircle had reported that Dubai-based private equity investor Abraaj Group was in talks to buy Medall Healthcare.

Since 2009, Peepul Capital has invested $41 million for a 70% stake in Medall, according to VCCEdge, the data research platform of News Corp VCCircle.


Media Conglomerate Zee Entertainment Enterprises Ltd is in advanced talks to acquire 9X Media Pvt. Ltd. The Economic Times quoted two people with direct knowledge of the development saying that the deal could be in the range of Rs 180-200 crore ($28-30 million).

Private Equity firm New Silk Route owns 82% stake in the target company, which operates five music television channels and a Bollywood news portal.

In June, ZEE had also announced that it would buy JV partner Penske Media Corporation’s 44% stake in for $30.7 million.


In another report, The Economic Times said that Singapore’s Ascendas-Singbridge Group has bought a 16-acre land parcel in Pune’s Kharadi locality for about Rs 200 crore.

Citing unnamed people aware of development, the financial daily said that the company is planning to develop an IT park there. In April, Ascendas-Singbridge had agreed to acquire six warehouses from Mumbai-based logistics and supply chain company Arshiya Ltd for up to Rs 534 crore ($83 million).


In another development, Gurgaon-based realty developer BPTP Ltd has secured around Rs190 crore ($29.5 million) from L&T Finance Holdings Ltd to complete its two under-construction projects in Faridabad, a Mint report said.

Balaji Telefims

Meanwhile, Balaji Telefilms Ltd is planning to sell up to 26% stake in its subsidiary ALT Digital Media Entertainment Ltd. People familiar with the development told Bloomberg Quint that the company is in talks with Zee Entertainment Enterprises Ltd, Reliance Jio Infocomm Ltd and an international studio.

In a reply to the stock exchange to the Bloomberg Quint report, Balaji said that it is in talks with several financial and strategic investors who have expressed strong interest to partner with its OTT platform ALT Balaji and the Board is actively considering options available.

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