Deal Talk: Xander, GIC make bets; Flipkart, DealShare, Mamaearth seek funding

 Deal Talk: Xander, GIC make bets; Flipkart, DealShare, Mamaearth seek funding

Alternative investment firm Xander Group has acquired a 31-acre logistics park in West Bengal’s Howrah district as it looks to tap the growing consumption patterns in east and northeast India, a media report said.

The deal is part of Xander’s $250-million industrial platform, the Mint newspaper reported.

The logistics park is located on the Kolkata-Mumbai highway. About 50% of the 800,000 square feet area is leased to e-commerce giant Flipkart while the balance area is being developed by Kolkata-based Jalan Builders, the report said.

Flipkart

Flipkart has held discussions with a variety of institutional investors including Canada Pension Plan Investment Board, CDPQ and private equity firm Carlyle to raise $1 billion in growth capital, according to a media report.

The fundraise may value the company around $28-30 billion, The Economic Times.

The Walmart Inc.-controlled company has also held discussions with existing investors GIC of Singapore and Qatar Investment Authority. Flipkart may double its fundraising target if it gets strong investor interest, the report said.

It has appointed JP Morgan and Goldman Sachs to advice on the deal, the report said.

The funds will strengthen Flipkart’s position against deep-pocketed competitors Amazon and Reliance Retail, the report said. The company is also exploring an initial public offering via a blank-cheque firm later this year.

GIC, Goldman Sachs debt deal

JSW Hydro Energy Ltd, the clean energy subsidiary under Sajjan Jindal-controlled JSW Energy Ltd, has raised $707 million via its maiden overseas green bond, as per The Economic Times.

The company raised the debt from a bunch of investors including GIC, Goldman Sachs, China Asset Management, Fidelity, UBS, and Schroder Investment, the report said.

The bonds, with 10-year maturity, are priced at 4.125%. The debt capital is part of the $1 billion fundraising exercise through the overseas market. JSW Energy will use the funds to repay high-cost rupee-denominated debt besides using a portion to acquire solar assets, the report said.

Deutsche Bank, JP Morgan, Barclays, and Standard Chartered Bank managed the company’s bond issue.

Sofina-Mamaearth

Belgian investment company Sofina may infuse about $50 million as fresh capital into personal care direct-to-consumer (D2C) brand Mamaearth, according to The Economic Times.

Sofina’s infusion is part of the $60-80 million funding round that may value the company around $700 million. The investment firm likely acquired a minority stake in a secondary sale, the report said.

Mamaearth’s previous round valued the company around $200 million.

Golden Agri-Resources IPO

Golden Agri-Resources, the world’s second-largest palm oil plantation company, is looking to take its Indian subsidiary Gemini Edibles & Fats India Pvt. Ltd (GEF India) public, according to The Economic Times.

It may file a draft proposal for an initial public offering (IPO) with the capital markets regulator next month. It has hired merchant bankers Nomura, Axis Capital, Credit Suisse and Kotak Capital for the IPO estimated to be around Rs 1,500-1,800 crore, the report added.

DealShare funding

Social e-commerce platform DealShare has raised Rs 204.5 crore ($28 million) in a fresh funding round from Flacon Edge’s Alpha Wave Incubation, WestBridge Capital and Matrix Partners, according to news website Entrackr.

The Series C funding also saw participation from Falcon Edge’s founding partners Navroz D Udwadia and Ryan Khoury.

The latest round, which is still underway, may also rope in Tiger Global with a $100 million cheque. It may value the company around $400 million, the report said.

Elevar Equity

Social impact investor Elevar Equity is looking to raise $120-125 million (Rs 883-920 crore) for its fifth India-focussed fund, a media report said.

Elevar has held talks with several sovereign funds to raise its target corpus, according to news website VCCircle.

The firm, which invests in financial services, agriculture, education and employability segments, will continue with its strategy of deploying $5-7 million (Rs 37-51 crore) in a portfolio company.

Haresh Chawla

Private equity firm True North’s partner Haresh Chawla has invested in audio platform Pocket FM Pvt. Ltd, according to VCCircle.

Chawla was the CEO of mass media company Network18 before joining True North. He has been making angel investments and recently participated in the seed funding round of interview-as-a-service platform InterviewVector, the report said.

SastaSundar

Online pharmacy startup SastaSundar is looking to raise $100 million in a Series D round and has held discussions with existing investors Mitsubishi Corp and Rohto Pharmaceuticals, according to a media report.

The company has also held talks with a few other global private equity investors, The Economic Times reported.

SastaSundar, which claims its mobile app has recorded two million downloads, aims to mobilise about $25 million in 2021 and create a surplus of funds as it looks to expand its health services across India, the report said.

Akna Medical

Healthcare supply chain operator Akna Medical Pvt. Ltd is looking to raise Rs 400-500 crore to support its inorganic growth plans, according to news website VCCircle.

Akna Medical, which recently raised Rs 30 crore in external funding from existing investor Lightrock and Apurva Shah, has held discussions with TPG Growth and ICICI Venture among other domestic and global firms for the fresh funding round, the report said.

Founded in 2018, Gurugram-based Akna Medical has two acquisition targets and looks to spend about Rs 250-300 crore, the report said.

Ankit Doshi

error: Content is protected !!
The Capital Quest