Boston-headquartered private equity firm Bain Capital is in final steps for a deal to acquire controlling stake in ice cream brand Vadilal. The news has been first reported by CNBC-TV18. As per sources that informed CNBC-TV18, Bain Capital has valued Vadilal Industries at Rs 3000 crore. After the news, Vadilal stock was up by nearly 17 percent.

Bain Capital is planning to merge Vadilal Enterprises and Vadilal Industries. Vadilal Industries is a popular ice cream across India. The company also offers flavored milk. Vadilal Industries was founded in 1907. Vadilal Group is Ahmedabad based and currently has over 1000 employees.

Indian market was trading positive today, largely supported by heavyweight Reliance Industries. Markets are expected to close positive after a range-bound session.

Among major gainers in today’s session were Reliance Industries, Tata Steel, JSW Steel, HDFC Life, Bajaj Auto, Tata Motors and Adani Enterprises.

European markets have opened flat today and US futures is looking negative. Indian markets are currently trading positive but we could see selling pressure towards the end of the trading session.