The private equity (PE) arm of financial services conglomerate Motilal Oswal will invest Rs.200 crore for a significant minority stake in auto parts maker Happy Forgings Ltd. Happy Forgings will use the funds to accelerate growth and expand into new products, such as front axle beams, engine crankshafts, and oil and gas products.
Kymco, a Taiwanese maker of electric two-wheelers, will invest $65 million in Twenty Two Motors Pvt. Ltd, a Haryana-based electric scooter startup. The investment, which will be made over three years, will see the companies collaborate to develop electric two-wheelers for the Indian market.
Dr. Reddy’s Laboratories Ltd has entered into a definitive agreement for sale of its API manufacturing business unit located in Jeedimetla, Hyderabad, to Therapiva Private Ltd, an emerging generics pharmaceutical company. Therapiva Private Limited is a joint venture between Omnicare Drugs India Private Limited (100% subsidiary of Neopharma LLC, Abu Dhabi) and Laxai Life Sciences Private Ltd.
GSS Infotech Inc., a wholly owned subsidiary of Hyderabad-headquartered IT service provider GSS Infotech Ltd, has signed a share purchase agreement for acquiring 100% shares of US firm Nexii Labs. Nexii Labs, which after the acquisition would become a wholly owned step-down subsidiary, brings a strong capability in the area of automation for GSS’s existing cloud and infrastructure management practice.
Mahindra Agri Solutions Ltd (MASL), a subsidiary of Mahindra & Mahindra, entered a joint venture (JV) agreement with Sumitomo Corporation Group, Japan, a global player in multiple industries, including crop care, having access to the latest crop protection technologies. The JV will have Mahindra and Sumitomo Corporation holding 60 per cent and 40 per cent equity, respectively, in the new company, named Mahindra Summit Agriscience Limited, subject to the parties receiving all applicable approvals. The partnership will offer a pipeline of specialty, new-generation products with unique and latest molecules to effectively manage pest- and insect-related challenges faced by farmers.
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