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DSP Investment Managers to acquire 10% stake in Equitas Small Finance Bank

DSP Investment Managers Private Ltd (DSPIM) will buy a nearly 10 per cent stake in Equitas Small Finance Bank for an undisclosed amount, following approval from the Reserve Bank of India.

The bank has received an intimation from the RBI on November 16, 2022, that it has granted approval to DSP Investment Managers Private Ltd (DSPIM) to acquire up to 9.99 per cent of the paid-up equity capital of the bank through the schemes of DSP Mutual Fund (DSPMF), Equitas SFB said in a regulatory filing on Thursday.

Aditya Birla to bring luxury department stores Galeries Lafayette to India

Aditya Birla Fashion and Retail (ABFRL) has entered a strategic partnership with Galeries Lafayette to open luxury department stores and a dedicated ecommerce platform in India

The flagship stores in Mumbai and Delhi will bring more than 200 luxury and designer brands under one roof, said ABFRL in a press release.

Galeries Lafayette is renowned globally for its flagship location at Boulevard Haussmann in Paris. It will open a 90,000 square feet flagship store in Mumbai by 2024. The store will be housed in two historic buildings at the heritage precinct of Mumbai Fort.

Blackstone to acquire majority stake in R Systems for Rs 2,904 crore

Private equity player Blackstone is set to acquire a majority stake in digital services and product engineering firm R Systems for Rs 2,904 crore ($359 million). This includes the 52 per cent stake held by founder Satinder Singh Rekhi and other promoters.

Blackstone is buying the promoters' stake for Rs 245 per share, a premium of 3.9 per cent on the current price of Rs 235.8 per share. The promoters will get around Rs 1,496.95 crore for their 52 per cent stake.

SoftBank sells 4.5% stake in Paytm for $200 million, says report

SoftBank Group Corp on Thursday sold a 4.5% stake in Indian digital payments giant Paytm through block deals for $200 million, sources told Reuters, leading to a sharp fall in the shares of the Indian company.

The deal was executed at 555.67 rupees, two people with direct knowledge of the matter said, the lower end of the planned price range of 555 rupees to 601.45 rupees that was listed in the transaction's term sheet reviewed by Reuters.

Maruti Suzuki joins hands with IIT Bombay to drive innovation programmes

Maruti Suzuki India on Thursday said it has partnered with Indian Institute of Technology, Bombay to drive innovation programmes for startups.

The auto major said it has inked a memorandum of understanding (MoU) with Society for Innovation & Entrepreneurship (SINE), IIT Bombay to expand the reach of its innovation programs for startups.

As part of the three-year MoU, SINE will support in outreach and incubation of potential startups who can be part of Maruti Suzuki's innovation programs, it added.

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