Today's Deals (February 22, 2019)

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Government offers royalty sops to boost oil & gas output

Date posted: Friday 22 February 2019


The government has rolled out major incentives in royalty rates to attract investments into the oil and gas exploration and maximise production. The government has given its go ahead to concessional royalty if production commences before four years for onland/shallow water blocks and before five years for deepwater/ultra-deepwater blocks from the effective date of contract, top officials said. “Concessional royalty at the rate of 10%, 20% and 30% has been proposed for category-I, II and III basins respectively. In case commercial production is not commenced in the time period mentioned, then royalty at existing rates will be applicable. A royalty interest in the oil and gas industry refers to ownership of a portion of the resource or revenue that is produced. A company or person that owns a royalty interest does not bear any of the costs of the operations needed to produce the resource yet gets a portion of resource or revenue produced.

(Economic Times)

JM Financial partially exits Adarsh Developers’ project

Date posted: Friday 22 February 2019

JM Financial has partially exited its investment in residential projects of Adarsh Developers in a deal valued at Rs.300 crore. The financial services firm had invested about Rs 600 crore in two residential projects of Adarsh Developers in 2016 as structured debt.

(Economic Times)

Inspira Enterprise buys iRam Tech stake

Date posted: Friday 22 February 2019

IT solutions provider Inspira Enterprise has picked up a stake in iRam Technologies Pvt. Ltd. for an undisclosed amount. iRam will use the funds for new product development, feature enhancements for existing products, R&D and hiring new talent.

(DealStreet Asia)

Info Edge (India) invest additional Rs.2 crore in Wishbook Infoservices

Date posted: Friday 22 February 2019

Info Edge (India) is investing Rs.2 crore in Wishbook Infoservices through its wholly owned subsidiary. It is a follow up round of investment in Wishbook which is already an associate company of the Company. Wishbook was incorporated on 30 April 2016. It is a mobile app only B2B market platform in the fashion / apparel category, enabling channel sales management, discovery & transactions between manufacturers & retailers or resellers.

(Business Standard)

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