Deals

Hindalco drops $125 million AluChem acquisition after prolonged delays

• Hindalco scrapped its planned acquisition of US-based speciality alumina maker AluChem
• The company said the deal’s termination does not change its high-value products strategy
• The abandoned deal removes acquisition uncertainty for Hindalco, while its specialty-products expansion strategy remains intact

Shyam Metalics signs deal to invest over $5 billion in Maharashtra

• The agreement with Maharashtra government covers an investment of over $5 billion
• The investment is for a greenfield project
• The proposed investment may benefit Maharashtra’s industrial supply chain and local infrastructure companies

L&T in talks to sell minority stake in clean energy arm to Japan's Itochu; eyes Kandla as green ammonia export hub

• L&T is in talks with Itochu on equity participation in its clean energy arm
• L&T is also pursuing a green ammonia offtake and Kandla as an export hub
• A potential clean-energy stake sale and ammonia exports expose L&T investors to the project’s progress

Keventer, Saroj Poddar groups launch ₹400-cr real estate debt fund

• The fund will use secured debt to finance real estate ventures
• It will focus on projects in Delhi-NCR and West Bengal
• The fund adds financing for real estate projects in Delhi-NCR and West Bengal

Adani commits over ₹6 lakh crore to Maharashtra; ₹2.6 lakh crore in projects completed or underway

• Adani’s Maharashtra investment commitment exceeds ₹6 lakh crore across multiple sectors
• Projects worth ₹2.6 lakh crore are completed or underway, about 43% of the blueprint
• The investment pipeline puts Adani’s energy, aviation and infrastructure businesses in focus

Embraer and Mahindra plan ₹6,000 crore Nagpur assembly line for C-390

• The planned investment is ₹6,000 crore for a C-390 assembly line in Nagpur
• The facility depends on the Indian Air Force selecting the C-390 and a government order
• A potential boost for Mahindra and India’s defence manufacturing supply chain, contingent on an IAF contract

Combined Paramount and Warner Bros. Discovery company to be named Skydance

• David Ellison announced the combined company will be named Skydance
• The announcement came less than two weeks after Paramount settled an antitrust lawsuit

Novartis signs mRNA therapy deal with China's Abogen worth about $7.8 billion

• Abogen will receive $575 million upfront and up to $7.2 billion in milestone payments
• Milestones depend on clinical development, approvals and commercial milestones
• The deal highlights global pharma licensing activity, with limited direct read-through for Indian drugmakers

Granules India incorporates wholly owned subsidiary in Brazil

• Granules India incorporated Triton Farmaceutica Do Brasil Ltda as a wholly owned subsidiary in Brazil
• The subsidiary will manufacture, promote, sell and distribute pharmaceuticals and related products in Brazil
• Brazil expansion gives Granules India a new market for its pharmaceutical business

Lightrock Group seeks CCI approval to acquire stake in Mahindra Last Mile Mobility

GP Petroleums to raise ₹130 crore from RevX fund to finance expansion

• GP Petroleums will raise ₹130 crore from RevX fund to finance expansion
• The board-approved funding includes ₹30 crore in 36-month NCDs and ₹100 crore in optionally convertible debentures
• Expansion funding and potential dilution affect GP Petroleums shareholders

Indian start-ups being acquired 2X faster as incumbents look to buy capabilities

• Indian start-ups are being acquired 2X faster as incumbents seek capabilities
• Average time from first funding to IPO fell from 14 years to 8.5 years
• Faster exits may benefit Indian startup investors and listed companies seeking new capabilities