Indiareit Fund Advisors Pvt., which manages $1 billion in real estate assets, is delaying its $250 million overseas fundraising plan by six months to focus on investing for new clients won earlier this month.
Vodafone Group Plc’s $1.6 billion plan to buy out the local partners in its Indian unit won government approval, six months after the South Asian nation ended limits on foreign ownership in the sector.
Abbott Laboratories will buy Piramal Healthcare Ltd. ’s branded generic-medicine unit in India for $3.72 billion, making it the country’s biggest drugmaker and tapping into a market expected to more than double by 2015.
Super Religare Laboratories Ltd. , controlled by billionaire brothers Malvinder and Shivinder Singh, agreed to buy Piramal Healthcare Ltd. ’s diagnostics unit for 6 billion rupees ($129 million) to become India’s largest provider of laboratory services.
Indian billionaire Ajay Piramal may spend $1 billion to acquire biotechnology and defense assets for his health care-to-real estate empire. Investment bankers are unlikely to get a share of that money.
Tata Sons Ltd., which runs more than 1,000 companies that make cars to chemicals and salt, withdrew an application for a banking license in India, saying its current financial-services business best suits its needs.
Indian billionaire Ajay Piramal acquired a 10 percent stake in Shriram Transport Finance Ltd., a domestic truck-financier, for 16.52 billion rupees ($303 million) to expand his financial services business.