In July, the IT and ITES sector dominated the transaction volumes with six deals valued at $45 million. The month also witnessed five outbound transactions for India. The pandemic has driven more interest in IT sector fuelled by desire for innovation and scalable technology.
Jio Platforms Limited and Google LLC announced the signing of binding agreements for an investment of $4.4 billion by Google into Jio Platforms. Google's investment will translate into a 7.73% equity stake in Jio Platforms on a fully diluted basis.
Haldia Petrochemicals Ltd (HPL), flagship Company of The Chatterjee Group (TCG), and Rhone Capital, a global private equity firm, have jointly acquired the US-based Lummus Technology from McDermott International. The deal is valued at $2,725 million (approximately ?20,590 crore).
Wallmart made a further investment of $1.2 billion in e-tailer Flipkart online services during the month.
UK's BP has paid Reliance Industries $1 billion for 49% stake in a fuel retail joint venture, closing a transaction the two companies announced last year. Reliance BP Mobility Ltd (RBML), the joint venture in which Reliance Industries (RIL) holds 51%, will operate under the Jio-BP brand and leverage Reliance's presence across 21 states and its millions of consumers through the Jio digital platform, according to a statement by the two companies.
Adani Transmission Ltd (ATL) has acquired Alipurduar Transmission Limited from Kalpataru Power Transmission Ltd (KPTL) for an enterprise value of Rs1,286 crore. Alipurduar Transmission Ltd operates transmission lines aggregating 650 circuit kms in West Bengal and Bihar.