Budget airline SpiceJet’s co-founder Ajay Singh has acquired a controlling stake in New Delhi Television Ltd, The Indian Express reported, citing people aware of the development.
Singh has picked up a 40% stake in the company, while promoters Prannoy and Radhika Roy will now hold a 20% stake, the report added.
The deal was valued at Rs 600 crore, which included the company’s debt of over Rs 400 crore. “Ajay Singh will take control of NDTV along with editorial rights,†one person told the English daily.
However, later in the day, the media house denied the report. “Not even a single sentence of these reports is true,†a senior NDTV official told The Hindu.
Singh, who had founded SpiceJet in 2005 to quit in 2010, was back at the helm of the airline in February 2015 to nurse it back to health.
Patanjali
Baba Ramdev-backed Patanjali Ayurved Ltd is in the market to raise structured credit worth Rs 1,000 crore, said a Mint report, quoting two people aware of the development.
Patanjali Ayurved has given the fund raising mandate to two investment banks, which have approached both domestic and foreign funds. One of the persons told the financial daily that this was the first time since the company was set up in 2007 that Patanjali was exploring an equity-linked fund-raising option.
The FMCG arm of the company reported revenues of Rs 9,346 crore in 2016-17, while the group’s overall revenue, which included the earnings of Divya Pharmacy, the ayurveda arm of Patanjali, stood at Rs 10,561 crore.
Massive Restaurants
Gurgaon-based Massive Restaurants Pvt. Ltd is in talks with mid-market private equity firm Gaja Capital to raise about Rs 80-100 crore to meet its expansion plans.
Citing people aware of development, Mint reported that the transaction will see private equity firm Everstone Capital and the promoters dilute 10%, each, at a valuation of Rs 400 crore. Yes Bank is advising Massive Restaurants for the latest round.
Massive Restaurants was founded in 2012 by Zorawar Kalra in partnership with the Mirah Group and QSR chain Falafels. The company runs restaurants under the Made in Punjab, Masala Library, Farzi Café and Pa Pa Ya brands.
In July 2015, it had raised Rs 85 crore from F&B Asia Ventures Ltd, a pan-Asian food and beverage business platform promoted and controlled by private equity firm Everstone Capital.