Author: Deal Street Asia Online News

India’s Allied Blenders and Distillers files for $180m IPOThe company aims to use proceeds from that sale to reduce some of its outstanding borrowings…

Indian liquor company Allied Blenders and Distillers (ABD) on Wednesday filed for an initial public offering (IPO) to raise up to $180 million, amid intensifying competition in a market dominated by the likes of Diageo and Pernod Ricard. ABD, which sells whisky brands such as Officer’s Choice and Sterling Reserve in India’s estimated $33 billion… Continue reading India’s Allied Blenders and Distillers files for $180m IPOThe company aims to use proceeds from that sale to reduce some of its outstanding borrowings…

India Digest: 8X Ventures, GVFL reach first close of early-stage vehicles

Early-stage venture capital firm 8X Ventures has achieved the first close for its deep tech fund while GVFL also reached the first close of its new seed-stage fund. 8X Ventures hits first close of deep tech fund Early-stage venture capital firm 8X Ventures has hit the first close of its deep tech fund at Rs… Continue reading India Digest: 8X Ventures, GVFL reach first close of early-stage vehicles

India Digest: TRMW invests $15m in WROGN; JM Financial backs Modish Tractoraurkisan

TRMW has acquired a 16% stake in men’s wear brand WROGN for about $15 million while JM Financial Private Equity has finalised an investment in farm equipment company Modish Tractoraurkisan Pvt Ltd. TRMW invests $15m in WROGN TRMW, an e-commerce rollup venture owned by Aditya Birla Group Venture, has acquired a 16% stake in men’s… Continue reading India Digest: TRMW invests $15m in WROGN; JM Financial backs Modish Tractoraurkisan

HSBC extends loan to Vietnam’s Gene Solutions; Japan’s Ayudante acquires SG’s SparklineThe social loan, HSBC’s first for a Vietnamese corporate group,…

HSBC has provided a social loan to Mekong Capital-backed biotech company Gene Solutions, while Japan’s Ayudante has announced its acquisition of Singapore-based Sparkline.  HSBC extends loan to Gene Solutions HSBC on Wednesday announced that it has extended a social loan to Vietnamese biotech company Gene Solutions to support its expansion in Southeast Asia. Founded in… Continue reading HSBC extends loan to Vietnam’s Gene Solutions; Japan’s Ayudante acquires SG’s SparklineThe social loan, HSBC’s first for a Vietnamese corporate group,…

More worries for China as sales at mid-year e-commerce festival drop for first time

Sales fell for the first time ever at China’s blowout mid-year e-commerce sales festival as consumers remain cautious about spending as the economy sputters, according to third-party data estimates released on Wednesday. Combined gross merchandise volume (GMV), a widely used proxy for e-commerce sales, reached 742.8 billion yuan ($102.36 billion) across China’s major online platforms during the so… Continue reading More worries for China as sales at mid-year e-commerce festival drop for first time

China regulator vows support for PE-VC firms, overseas listings

An official from China’s securities regulator said on Wednesday that China will boost the development of private equity (PE) and venture capital (VC) funds, but the firms have to be compliant. The regulator will also speed up the filing process for Chinese companies seeking listing overseas, Fang Xinghai, Vice Chairman of the China Securities Regulatory Commission (CSRC), told the annual Lujiazui Forum in Shanghai. “PE and VC funds… Continue reading China regulator vows support for PE-VC firms, overseas listings

GCP-backed Lok Capital holds first close of $276m maiden new energy fund

Lok Capital, a nascent new energy asset management platform in China, on Wednesday, announced the first close of its maiden fund, for which it targets to raise 2 billion yuan ($275.6 million) in total. Officially launched in November 2023 in southern China’s Guangzhou City, Lok Capital counts China’s venture-backed PCG Power and GLP Capital Partners… Continue reading GCP-backed Lok Capital holds first close of $276m maiden new energy fund

China unveils reform measures for tech-focused STAR Market

China’s securities regulator issued eight measures on Wednesday to enhance the reform of the tech-focused STAR Market to drive innovation and the development of “new productive forces”, it said in a statement. The China Securities Regulatory Commission (CSRC) will support “hard tech” companies to list on the board, and improve stock and bond financing mechanism… Continue reading China unveils reform measures for tech-focused STAR Market