E-commerce major Flipkart announced an investment from SoftBank Vision Fund. This is the biggest ever private investment in an Indian technology company, and will make the Vision Fund one of the largest shareholders in Flipkart. The investment is part of the previously announced financing round, where Flipkart had raised capital from three of the world’s premier technology companies – Tencent, eBay and Microsoft. After this financing round, Flipkart will have in excess of $4 billion of cash on its balance sheet.
SoftBank-backed cab aggregator Ola has raised Rs.231.83 crores ($36.3 million) from US-based hedge fund Tekne Private Ventures. With the fresh funding, the company has raised over $1.7 billion so far in cash.
Andhra Pradesh chief minister N. Chandrababu Naidu-founded dairy firm Heritage Foods has tied with French dairy company Novandie to set up a 50:50 joint venture for manufacturing of flavoured yogurt and desserts. The joint venture will set up a Greenfield plant with a capacity of 20 tons per day at an investment of Rs.16 crore for the first plant, which is expected to be operational by 2018.
Aurobindo Pharma Ltd has signed an agreement to buy 20 per cent stake additional stake in vaccine developer Tergene Biotech Pvt. Ltd for Rs.5.65 crores ($885,000). Tergene Biotech is a joint venture between Aurobindo Pharma and the promoters of Hyderabad-based Tergene.
Board of Directors of Bharat Forge in its meeting has accorded their approval for acquisition of balance 40% share of Analogic Controls India. Post this acquisition, ACIL will become a wholly owned subsidiary of the Company.