Sazerac has acquired an additional 20 per cent stake in Indian liquor maker John Distilleries Pvt Ltd (JDPL) from private equity firm Gaja Capital. In other developments, Sachin Bansal has paid advance tax on the gains incurred from the sale of his stake in Flipkart while cab-hailing firm Ola is in the process of raising Rs 14 crore by way of issuance of preference shares to Eternal Yield International.
Sazerac buys Gaja stake in JDPL
Sazerac, a family-owned spirits company in the US, has acquired an additional 20 per cent stake held by private equity firm Gaja Capital in Indian liquor maker John Distilleries Pvt Ltd (JDPL), The Economic Times reported.
Sazerac had acquired a 23 per cent stake in John Distilleries from Gaja Capital in October last year. With the acquisition of the additional stake at a valuation of Rs 1,000 crore, Sazerac’s holding in JDPL has increased to 43 per cent.
The remaining 57 per cent stake in JDPL is held by Paul John, chairman and managing director of John Distilleries.
Sachin Bansal pays advance tax on gains from Flipkart
Sachin Bansal, the co-founder of e-commerce firm Flipkart, has paid Rs 699 crore as advance tax for the first quarter of the current fiscal, The Times of India reported. This includes capital gains tax on the sale of his Flipkart stake to US retail giant Walmart, the report said quoting sources from the tax department.
The income tax department had earlier sent notices to Sachin Bansal and his co-founder Binny Bansal (not related to each other) along with other shareholders to disclose capital gains made from their stake sale in Flipkart.
Binny Bansal is yet to disclose capital gains made from the sale of his share in the e-commerce company.
Ola to raise funds from Eternal Yield
Cab hailing firm Ola is in the process of raising Rs 14 crore by way of issuance of preference shares to Eternal Yield International, The Financial Express has reported.
In a resolution passed in a meeting on Monday, the company said it would issue 9,684 preference shares at an issue price of Rs 14,603 per share to the investor.
Ola had raised $1.1 billion from SoftBank Group Corp. and Tencent Holdings Ltd, among others in October 2017. Per a recent Economic Times report, SoftBank has offered to invest up to $1 billion more in Ola, which is run by ANI Technologies Ltd.
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