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(Bloomberg) -- India’s sovereign wealth fund has scrapped plans to invest in FirstCry.com, an e-commerce startup backed by TPG, people familiar with the matter said. The country’s National Investment & Infrastructure Fund Ltd. → Read More
(Bloomberg) -- India’s online food delivery platform Zomato Ltd. is nearing an all-stock deal to take over instant grocery delivery service Blinkit, according to people familiar with the matter. → Read More
Mukesh Ambani’s grand plan is aimed at averting pitfalls of the past → Read More
Kotak Mahindra Bank Ltd., backed by Asia’s richest banker, is exploring a takeover of smaller Indian rival IndusInd Bank Ltd., people with knowledge of the matter said, a move that would create the nation’s eighth-largest financial firm by assets. → Read More
(Bloomberg) -- Tata Consumer Products Ltd. is weighing a non-binding bid for the vending machine business of Coffee Day Enterprises Ltd., according to people familiar with the matter. → Read More
(Bloomberg) -- Blackstone Group Inc. and Partners Group Holding AG are the two remaining bidders vying for a controlling stake in Piramal Enterprises Ltd.’s glass unit, people familiar with the matter said. → Read More
India’s anti-money laundering agency fined Standard Chartered Plc 1 billion rupees ($13.6 million) for breaking foreign exchange rules when it worked on the takeover of a local bank, marking one of the country’s biggest penalties imposed on an overseas lender. → Read More
Bennett Coleman & Co. is considering selling a stake in its Internet unit, according to people familiar with the matter, as the publisher of The Times of India looks to expand the business in one of the world’s fastest growing digital markets. → Read More
Mukesh Ambani, Asia’s richest man who spent the early few months of the pandemic raising more than $20 billion by selling stakes in his technology venture, is now on a shopping spree. → Read More
Axis Bank Fundraising: The Axis Bank share sale could come as soon as the end of August and the private lender may add more advisers for the issue. → Read More
Goldman Sachs Group Inc. is telling clients in India to fortify their balance sheets to prepare for the uncertainty brought by the coronavirus pandemic. → Read More
(Bloomberg) -- ICICI Bank Ltd. is considering raising as much as $3 billion in a share sale as the lender seeks to bolster its capital ratios, according to people familiar with the matter. → Read More
(Bloomberg) -- Blackstone Group Inc. is emerging as the frontrunner to take over Larsen & Toubro Ltd.’s mutual fund arm, in what could be the first entry by a major foreign private equity firm into India’s $350 billion asset management industry, people familiar with the matter said. → Read More
Hinduja brothers—Srichand and Gopichand—had applied to RBI for approval to raise their stake in IndusInd Bank to 26% from less than 15%. → Read More
TA Associates is in advanced talks to acquire a minority stake in Indian billionaire Ajay Piramal’s pharmaceutical business, according to people familiar with the matter. → Read More
India’s unemployment rate has probably peaked with large companies looking to restart hiring as the economy gradually exits the world’s biggest lockdown, says the head of a top staffing firm. → Read More
General Atlantic is considering investing about $850-950 million in Reliance’s Jio Platforms, in a deal could be completed as soon as this month. → Read More
Saudi Arabia’s $320 billion sovereign wealth fund is exploring a potential investment in Reliance Industries Ltd.’s digital unit, according to people with knowledge of the matter. → Read More
Reliance Industries Ltd. is considering selling its stake in India’s largest paint maker valued at about $989 million as the conglomerate steps up efforts to trim its debt, said people familiar with the matter. → Read More
IDFC First Bank Ltd. is considering a $200 million share sale to bolster its capital, people familiar with the matter said, as the lockdown in India raises the risk of loan defaults. → Read More