India Digest: Promoters vying to regain control of Essar Steel; SBI to sell bad education loans


Ruia brothers have already floated an SPV that will be managed by the team comprising a former senior public sector banker and a former Steel Authority of India (SAIL) head.

PE, debt funding in Indian realty jumps 12% in 2017, enabled by global players

Global investors leading the pack include GIC Pte Ltd, Canada Pension Plan Investment Board and The Xander Group Inc.

India Dealbook: Startups PeopleStrong HR, Rubix108 and CorporatEdge raise funds

Through this partnership PeopleStrong and Zeta will ointly launch a human resources-focused mobile app later this week.

India Digest: Blackstone eyes two L&T Realty properties; Binani Cement sale

Blackstone is acquiring L&T Realty’s assets directly and not through existing joint ventures.

Piramal arm joins hands with Omkar Realtors for Mumbai project

Piramal Realty, led by Ajay Piramal’s son Anand, is backed by Warburg Pincus and Goldman Sachs Group Inc

India: Newgen Software raises $200m from anchor investors ahead of IPO

Venture capital investors selling their stakes include IDG Ventures, SAP Ventures and Ascent Capital.

India: Razorpay raises $20m round led by Tiger Global, Y Combinator

The latest round takes Razorpay’s total external funding raised to $31.5 million.

India: True North founding partner Vikram Nirula quits

Nirula was responsible for investments in consumer companies, retail firms, financial services and industrials.

India: JM Financial appoints banks for $100m QIP

Last year witnessed record levels of QIP activity, driven by the financial services sector.

Air India to be split into four separate firms ahead of stake sale

A successful sale of Air India — with $7.9 billion in debt, five subsidiaries and a joint venture, and a combined workforce of 27,000 — is crucial for Modi.