Jhunjhunwala makes ₹67 crore gain on 50 lakh Zee Entertainment shares in 6 days
Rakesh Jhunjhunwala has made a gain of ₹67.45 crore in six days through an investment made in Zee Entertainment Enterprises Ltd (ZEEL) by his firm RARE Enterprises. The billionaire’s firm bought 50 lakh shares at ₹220.44 apiece on September 14 amid a boardroom battle at ZEEL. The company’s shares peaked at ₹355.35 on Wednesday following the Zee Entertainment-Sony merger announcement.
Mylab acquires majority stake in healthtech startup Sanskritech
Pune-based startup Mylab Discovery Solutions said that it acquired a majority stake in health technology startup Sanskritech in an all-cash deal for an undisclosed amount. The company plans to establish over 1,000 point of care (POC) systems in the next two years, it added. The deployment of these systems will start with lab partners as early as November, it said.
Government may block Chinese investment in LIC’s IPO: Report
The government wants to block Chinese investors from buying shares in IPO-bound Life Insurance Corporation (LIC. State-owned LIC has more than 60% of India’s life insurance market with assets of over $500 billion. LIC IPO is likely to be India’s biggest-ever IPO worth a potential $12.2 billion.
Digital lending start-up ZestMoney raises $50 mn in Series C funding
Bengaluru-based digital lending startup ZestMoney said it raised $50 million from Australia’s Zip. The eight-year-old Australian firm, which has a presence in 12 markets across five continents, is acquiring a minority stake in ZestMoney as part of the new Series C financing round, the firms said. ZestMoney was founded in 2015 by Ashish Anantharaman, Lizzie Chapman and Priya Sharma.
Serum Institute of India to invest $68 mn in UK vaccine maker Oxford Biomedica
Pune’s Serum Institute of India (SII), the world’s largest vaccine manufacturer by volume, will invest $68 million in UK’s Oxford Biomedica. The investment will help fund the development of a plant that manufactures COVID-19 shots, the British company said on Wednesday. Serum Life Sciences, a unit of SII, will pick up a 3.9% stake in Oxford Biomedica.
