The Rs. 213 crore Morarjee Textiles Ltd., an Ashok Piramal Group-owned company has acquired 67 percent controlling stake in an Italian brand of shirts, Men’s Club, Mr Harshvardhan Piramal, Executive Vice-Chairman, Morarjee Textiles Ltd. said. He clarified that the company is scouting for another acquisition for its front-end business in Europe, but has not zeroed in on anything as the company would prefer to acquire a brand that offers high value-added products and fits well within our strategy. Although, the manufacturing has been outsourced to a plant in Southern Italy, the company wants to maintain a relative independence with Men’s Club as they hopes to make a dent in the Japanese and European markets through this acquisition. […]

Avestha Gengraine Technologies (Avesthagen), a Bangalore-based biotech firm, has outlined plans to raise $100 million (Rs 410 crore) to fund its growth and acquisition plans for the next three years. The amount will be raised through a mix of private equity and an initial public offering (IPO). Avesthagen, which focuses on the convergence of food, pharmaceuticals and clinical genomics, provides solutions to agriculture and health problems such as degenerative conditions, metabolic disorders and infectious diseases. […]