Acquires Financial News

Wipro, India’s fourth largest information technology (IT) services firm, on Tuesday said it will acquire US-based insurtech firm Aggne Global Inc and its Hyderabad-based affiliate Aggne Global IT Services for $66 million. Wipro will acquire 60% of the company in an all-cash deal, with an option to purchase the remaining stake over a period of time, as per a stock exchange filing.

Eldeco Housing and Industries Ltd (EHIL), a leading Lucknow-based real estate player, has during the 9MFY24 acquired more than 63 acres of land for new projects and recorded a remarkable increase in sales bookings, registering 3.2 lakh sq ft compared to 1.5 lakh sq ft in the previous fiscal year.

Reliance Consumer Products (RCPL) has acquired the trademarks, recipes, and all intellectual property rights of sugar-boiled confectionery maker Ravalgaon for Rs 27 crore, according to a stock market disclosure by Ravalgaon Sugar Farm Ltd. Ravalgaon owns nine confectionery brands such as Pan Pasand and Coffee Break. This fits RCPL's strategy of acquiring old Indian brands which are under distress and relaunching them, like it had acquired the Campa soft drink brand. The deed was signed between both the parties on Friday. It excludes the slump sale of all assets and liabilities of Ravalgaon. “It is clarified that while 100% of the revenue of the company (Ravalgaon) is ascribed to the intellectual property being sold, the company will continue to hold all other assets such as property, land, plant, building, equipment, machinery, etc. post completion of the proposed transaction,” as per the disclosure.

₹412 crore. The 200-bed hospital is set up on a land parcel of 2-acre at Mankapur, north of Nagpur.

AU Small Finance Bank. The Jaipur Literature Festival brings together some of world’s best intellectual minds on a singular platform where ideas, ideologies, viewpoints, and worldviews are discussed, debated, and challenged.

In a strategic move, real estate developer Gulshan Group has acquired a 2.5-acre land parcel in Noida’s Sector 129, a prime location in the National Capital Region. This land is a part of the Jaypee township in Noida.

MakeMyTrip said on Thursday it had completed the Savaari transaction by aquiring a controlling stake in the car rental service provider. MakeMyTrip had announced in its second quarter FY23-24 results that it has entered into an agreement to acquire a majority stake in Savaari Car Rentals Private Limited. Savaari will continue to operate as an independent entity led by the existing leadership team, the company said in a statement.

MAI Capital Management has added another RIA firm to its growing network after announcing its third acquisition so far in 2024.

₹55 crore through a combination of cash and share swap from the founders of Comic Con India – Jatin Varma and Karan Kalra. Comic Con India was founded in 2011. The company organizes various festivals across India, in segments like comics, cosplay movies, TV shows, merch, gaming and much more.

The move is aimed at 'significantly accelerating' Aquila Capital’s growth to become one of the 'leading asset managers' for sustainable investment strategies in Europe.

₹6,000 crore in Maharashtra. The Indian unit of the Korean carmaker announced the deal in March 2023. With the acquisition, Hyundai's production capacity is expected to surge to one million from more than 800,000 currently.

Captrust Financial Advisors acquired a Texas wealth management firm, Engrave Wealth Partners, that oversees $770 million in client assets, it announced Thursday.

Three significant milestones have been announced by Arax Investment Partners to scale up its multi-partner platform.

₹5,100 crore for 100% stake in Capital Foods. While 75% of the equity shareholding will be acquired upfront, the remaining 25% will be acquired within the next three years, TCPL said in a filing to the exchanges on Friday evening. For a 100% stake in Organic India, TCPL will pay ₹1,900 crore, along with an additional earnout for the shareholders linked to FY26 audited financials of the company.

At completion, the combination of GIP’s $100bn of client assets with BlackRock’s $50bn infrastructure operation will create a $150bn infrastructure platform spanning equity, debt and solutions.

IndoStar Capital Finance sold Rs 292 crore stressed asset portfolio to Encore Asset Reconstruction Company in a deal which involved a senior-junior structure between the buyer and the seller, said people with knowledge of the matter. The senior-junior structure is rarely used between an ARC and a seller (banks or finance companies), with regulators discouraging such structures in AIF transactions. Encore ARC had given a binding offer of Rs 271 crore to IndoStar Capital’s Rs 292 crore loan portfolio in the form of a senior junior structure. The offer by Encore ARC triggered a Swiss Challenge auction. Mid of December, IndoStar had invited counteroffers — under senior-junior structure — from other ARCs.

According to search and recruitment firms and India Inc executives, organisations in sectors as diverse as oil and gas and manufacturing to banking, fashion and technology are keen to run global searches while hiring, in line with their global ambitions and capacity to pay on par with international standards.

Ratnagiri, originally owned by Amina Bi, the mother of fugitive terrorist Dawood Ibrahim. As per a report by the Times of India, the lawyer secured the plots through an auction for a total sum exceeding ₹2 crore. Interestingly, the remaining two plots under Amina Bi's name did not attract any bidders.

SentinelOne on Wednesday announced that it had agreed to acquire Bengaluru-based cybersecurity startup PingSafe for an undisclosed amount. The Mountain View-headquartered company in a statement said it will acquire PingSafe for a combination of cash and stock and that the acquisition is expected to conclude in SentinelOne’s first quarter of fiscal year 2025, subject to any applicable regulatory approvals and customary closing conditions.

Amber Group company, has acquired 60% stake in Ascent Circuits Pvt. Ltd.

Realty developer BPTP purchased a land parcel spread across 228,000 in Gurgaon for Rs 87.27 crore. BPTP has substantial holdings in Gurugram and Faridabad (about 600 acres) and has been acquiring land parcels in the region for residential and commercial development.