VENTURE CAPITAL POST

A report by Grant Thornton, an American accounting and advisory firm, said that Indian corporations closed as many as 393 private equity deals totaling $9.67 billion in the past 11 months of the year.

The Reserve Bank of India recently announced that multinational companies can hike their stakes in Indian arms without its approval. Many MNCs are now looking to increase their stakes, go for a merger or de-list their local units.

French alcoholic beverages company Remy Cointreau looks to form a partnership with India's largest winemaker Nashik Vintners Pvt. Ltd. Remy and Nashik Vintners are expected to launch an India-specific brand through the joint venture.

United Spirits could raise as much as £675 million ($1.1 billion) in the sale of Whyte & Mackay Scotch if it will include single malt Dalmore. Sources estimate that Whyte & Mackay's exit, excluding Dalmore, is worth £450 million.

India-based firm GMR Infrastructure Ltd said exit deal of its 40% interest in Istanbul's Sabiha Gokcen airport was still in progress, after a local paper reported it had already closed the deal for €220 million ($302.58 million).

Elder Pharmaceuticals Ltd. has put up for sale its Indian formulations business to reduce its debt. Rival Torrent Pharmaceuticals will acquire the asset for $324.1 billion through internal accruals and debt.

Hero MotoCorp on Wednesday announced its buyout of 17.49 lakh shares in HMC MM Auto Ltd., which represents a 60% stake in the company. HMC MM Auto Ltd. is a joint venture of Hero MotoCorp and Italian automobile company Magneti Marelli.

UK-based investment fund Pearson Affordable Learning Fund has backed Delhi-based education startup Avanti Learning Centres to develop a system that will help students from low-income families prepare for college entrance tests.

Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) is investing $250 million in Hines India Real Estate, the Indian unit of American property management firm Hines, according to a source familiar with the investment.

Indian companies that built most of the parts for the country's recently launched Mars mission are using their low-cost, high-tech expertise in frugal space engineering to compete for global aerospace, defence and nuclear contracts worth billions.

State-backed Power Grid Corporation is looking to raise as much as INR7,600 crore by selling 84.71 crore shares in a follow-on public offering. Shares will be priced at INR85 to INR90 apiece.

The International Finance Corporation is looking to sell rupee-denominated bonds for the second time. The World Bank investment arm raised INR1,000 crore in its first rupee-bond issue.

Kumar Rangaranjan, one of the founders of Indian startup Little Eye Labs, told the Wall Street Journal that it was in preliminary discussions with social media giant Facebook regarding a potential deal.

A report from the Business Standard said retail investors of mutual funds in India were not timing their redemptions properly and as a result, are getting poor returns.

A report from Cushman & Wakefield revealed that the private equity industry is still optimistic on the Indian real estate market, with private equity deals in the sector increasing 26% in the first nine months of this year.