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InCred Alternatives raises ₹575 crore at final close of maiden PE fund

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InCred Alternatives raises ₹575 crore at final close of maiden PE fund


InCred Alternative Investments Private Ltd. logo. Photo: https://www.incredassetmanagement.com/alternatives/

“InCred Alternative Investments Private Ltd., part of InCred Capital Financial Services Ltd. has announced the final close of its maiden Private Equity fund – InCred Growth Partners Fund-I (IGPF-I) after raising a total of ₹575 crore, which is above the target size of ₹500 crore, with support from family offices,” UHNI and HNI investors, the firm said

IGPF-I is focused on consumption, enterprise, technology and financial services, and has made investments in multiple companies including Manjushree Technopack, Shadowfax, Niva Bupa and Purplle.

“The Fund is in advanced stages of discussions with two more companies,” it said.

Vivek Singla, Managing Partner & CIO – Private Equity at InCred Alternatives said, “The close of IGPF-I marks a significant milestone for InCred Alternatives and reflects the confidence that the investors have placed in our strategy and approach.

“We remain committed to identifying and partnering with high-quality businesses in India and supporting ambitious entrepreneurs in the next phase of their growth,” he said.



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Are NSE, BSE, and MCX closed on Good Friday? – Check official holiday calendar – Times of India

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Are NSE, BSE, and MCX closed on Good Friday? – Check official holiday calendar – Times of India


Indian stock markets will remain closed on Friday, April 18, 2025, on account of Good Friday, a national holiday observed in several parts of the country. Both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will suspend all trading activity for the day.
The closure will apply across all segments including equities, equity derivatives, currency derivatives, and the Securities Lending and Borrowing (SLB) platform. In addition to the equity markets, the Multi Commodity Exchange (MCX) will also remain shut for the entire day. This includes both the morning session from 9:00 am to 5:00 pm and the evening session from 5:00 pm to 11:30 pm, according to MCX website.
As a result, there will be no trading in commodities such as gold, silver, crude oil, or agricultural futures on April 18. Trading across all exchanges will resume on Monday, April 21, following the weekend.
Good Friday marks the crucifixion of Jesus Christ and is observed as a solemn day by Christians around the world. It is one of the 14 scheduled trading holidays in the Indian stock market calendar for 2025.
According to the NSE’s holiday calendar, the remaining stock market holidays for the year include May 1 (Maharashtra Day), August 15 (Independence Day), August 27 (Ganesh Chaturthi), October 2 (Gandhi Jayanti), October 21 (Diwali Laxmi Pujan), October 22 (Diwali Balipratipada), November 5 (Prakash Gurpurab), and December 25 (Christmas).





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ITC to acquire 24 Mantra Organic brand for Rs 472.5 crore – Times of India

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ITC to acquire 24 Mantra Organic brand for Rs 472.5 crore – Times of India


Diversified conglomerate ITC Ltd on Thursday announced that it will acquire Sresta Natural Bioproducts Pvt Ltd (SNBPL), the company behind the 24 Mantra Organic brand, for Rs 472.50 crore, in a move to strengthen its presence in the high-growth organic packaged foods space.
According to a regulatory filing, ITC has signed a share purchase agreement to acquire a 100% stake in SNBPL, which is engaged in manufacturing and selling a wide portfolio of organic food products under the 24 Mantra Organic brand.
“The acquisition is in line with the strategy to augment the company’s future-ready portfolio. The transaction will fortify ITC’s presence and market standing in the high-growth organic products segment in both Indian and overseas markets,” it said, as reported by PTI.
SNBPL offers over 100 organic products, including grocery staples, spices, condiments, edible oils, and beverages. It also enjoys a significant international presence, especially among the Indian diaspora, due to its established organic sourcing and distribution network.
“The share acquisition is expected to be completed in Q1 of FY 2025-26 or such later date as may be mutually agreed upon by the Parties,” ITC noted in its filing.
The deal, valued at up to Rs 472.50 crore on a cash-free, debt-free basis, includes an upfront payment of Rs 400 crore at closing and a potential earn-out of up to Rs 72.50 crore over the subsequent 24 months.
ITC stated that the acquisition aligns with its ‘ITC Next’ strategy, spearheaded by Chairman Sanjiv Puri, which emphasizes building a future-ready portfolio catering to evolving consumer preferences for health and wellness.
“We are excited to have 24 Mantra Organic as part of ITC’s Foods Business’s portfolio of nutrition-led healthy foods products. 24 Mantra Organic has built a robust backend and sourcing network which is core to its trusted organic products portfolio,” said ITC Wholetime Director Hemant Malik.
Rajashekar Reddy Seelam, founder and Managing Director of SNBPL, welcomed the deal, saying, “ITC shares a common vision to promote sustainable livelihoods for farmers and ensure healthy lifestyles for consumers. We are confident that ITC’s strengths in product development expertise and distribution strength across channels will help in taking 24 Mantra Organic to millions of homes.”
SNBPL, which was incorporated in March 2004, recorded a revenue of Rs 306.1 crore in FY 2023-24.





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Tata Elxsi wins €50mn deal from European automotive OEM

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Technical bids called for Integrated State Secretariat, HoD offices


Tata Elxsi, a design and technology services firm belonging to the Tata Group, has entered a strategic multi-year deal valued at €50 million with a leading European headquartered automotive OEM, the company said on Thursday.

This strategic deal would position Tata Elxsi as a key engineering partner for platform and application development across SDV (software defined vehicle), electrification, body, and chassis domains, it said in a statement.

As part of this collaboration, Tata Elxsi would establish a dedicated Global Engineering Centre to support the customer’s software platform roadmap and brand aligned software engineering programmes. This centre would serve as a hub for developing a unified technology stack encompassing a proprietary operating system, electronic architecture and automotive cloud, it further said.

Manoj Raghavan, CEO & Managing Director, Tata Elxsi, commented: “This engagement marks a significant step in our strategy to enable next-generation mobility through platform-centric, software-led engineering.’‘

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