Ashwin Mohan

Deputy Editor - Deals

Moneycontrol

ReNew Power takes SPAC route, first such major deal by an Indian company, to list on Nasdaq

BUSINESS

ReNew Power takes SPAC route, first such major deal by an Indian company, to list on Nasdaq

The $8 billion transaction is the first major overseas listing of an Indian company via the special purposed acquisition company route, which is immensely popular on Wall Street. Famed Sillicon Valley Investor Chamath Palihapitiya, who has led the SPAC wave in the US market, is one of the investors backing the deal.

Everstone Capital sells Modern Foods to world's largest baking company Grupo Bimbo

BUSINESS

Everstone Capital sells Modern Foods to world's largest baking company Grupo Bimbo

Everstone Capital acquired Modern from Hindustan Unilever Limited In April 2016 and relaunched the iconic bread brand in June 2017 nationwide.

Blackstone-backed Sona Comstar files DRHP for Rs 6,000 crore IPO; biggest ever in auto component segment

BUSINESS

Blackstone-backed Sona Comstar files DRHP for Rs 6,000 crore IPO; biggest ever in auto component segment

Sona Comstar is a major supplier to the global EV market. The IPO proceeds are likely to be used for debt repayment and future capex investments

What the RIL oil-to-chemicals spinoff means for company, investors

BUSINESS

What the RIL oil-to-chemicals spinoff means for company, investors

RIL 2.0: Mukesh Ambani-led Reliance Industries’ demerger plan for the O2C business checks all the boxes on monetisation, growth, and preparation for the future.

SoftBank, Temasek-backed Policybazaar may pick Kotak, Morgan Stanley, I-Sec, Citi as i-bankers for mega 2021 IPO

BUSINESS

SoftBank, Temasek-backed Policybazaar may pick Kotak, Morgan Stanley, I-Sec, Citi as i-bankers for mega 2021 IPO

Policybazaar is housed under Etech Aces Marketing & Consulting which also houses lending marketplace Paisabazaar.

KFC, Pizza Hut, Costa Coffee operator Devyani International to join QSR IPO wave; backed by restaurant giant Yum! Brands

BUSINESS

KFC, Pizza Hut, Costa Coffee operator Devyani International to join QSR IPO wave; backed by restaurant giant Yum! Brands

The domestic QSR segment saw two stellar IPO debuts from Burger King and Mrs Bectors Food Specialities in December 2020.  Goldman Sachs-backed restaurant operator Sapphire Foods is also eyeing an IPO in 2021.

IndiaMART Intermesh launches QIP to raise around Rs 1,100 crore; promoters may sell extra 2% post QIP

BUSINESS

IndiaMART Intermesh launches QIP to raise around Rs 1,100 crore; promoters may sell extra 2% post QIP

This would mark the debut fund raising exercise for the firm post its IPO in June 2019.

The SPAC craze: What’s the big deal anyway?

BUSINESS

The SPAC craze: What’s the big deal anyway?

Moneycontrol digs deep and breaks down the investment vehicle that became a smash hit in the US market in 2020 and taken the global deal street by storm. Can India join the frenzy?

Lodha Developers files papers with Sebi for Rs 2,500-crore IPO as realty makes comeback

BUSINESS

Lodha Developers files papers with Sebi for Rs 2,500-crore IPO as realty makes comeback

This is the third attempt by the Mumbai-based firm, which is known for luxury projects such as Trump Towers in Mumbai and Grosvenor Square in London, to launch an initial public offering.

Exclusive interview | Magma Fincorp is a full package; we welcome regulations that will help NBFCs stay disciplined: Adar Poonawalla

BUSINESS

Exclusive interview | Magma Fincorp is a full package; we welcome regulations that will help NBFCs stay disciplined: Adar Poonawalla

Adar Poonawalla of Serum Institute of India speaks about his group’s NBFC interest, the rationale of the Magma Fincorp acquisition, RBI’s discussion paper for the segment and much more.

Adar Poonawalla-backed firm to acquire majority stake in Magma Fincorp for Rs 3,456 crore

BUSINESS

Adar Poonawalla-backed firm to acquire majority stake in Magma Fincorp for Rs 3,456 crore

The new firm will be called Poonawalla Finance.

Exclusive | Warburg Pincus & Temasek-backed CarTrade prepares to launch Rs 2,000-crore IPO; first-ever by an auto classifieds portal

BUSINESS

Exclusive | Warburg Pincus & Temasek-backed CarTrade prepares to launch Rs 2,000-crore IPO; first-ever by an auto classifieds portal

Investment bank Axis Capital has been engaged by the firm to prepare for the listing and the DRHP is likely to be filed with Sebi in May. CarTrade.com competes with rivals like Droom, Cars24, Quikr, and others.

Twist in race for Mahindra Susten; Brookfield Asset Management in talks to buy majority stake in company

BUSINESS

Twist in race for Mahindra Susten; Brookfield Asset Management in talks to buy majority stake in company

If the deal fructifies, it would mark the second one struck in the solar power segment between Brookfield and an Indian conglomerate. The Canadian investment firm had acquired Emami Power last year.  

PE fund Advent to acquire majority stake in ZCL Chemicals; Morgan Stanley PE to exit via deal

BUSINESS

PE fund Advent to acquire majority stake in ZCL Chemicals; Morgan Stanley PE to exit via deal

Advent has been investing in India since 2007. In this time, it has deployed over $1.7 billion in 12 companies with headquarters or operations in the country.

Kishore Biyani, Future Corporate Resources move Securities Appellate Tribunal against SEBI market ban

BUSINESS

Kishore Biyani, Future Corporate Resources move Securities Appellate Tribunal against SEBI market ban

India’s capital market regulator on February 3 barred Future Group CEO Kishore Biyani from accessing the securities market for a year after its investigation revealed insider trading in shares of its retail unit in 2017.

Brookfield Asset Management's Ankur Gupta: REIT as an idea and investment product is here to stay

BUSINESS

Brookfield Asset Management's Ankur Gupta: REIT as an idea and investment product is here to stay

Brookfield’s $500 million real estate investment trust (REIT) IPO opens on February 3. This will be the third REIT to list on the Indian bourses after Embassy Office Parks REIT in 2019 and Mindspace Business Park REIT in 2020, both of which were backed by rival Blackstone

Budget 2021: FDI cap hike in insurance sector with conditional foreign ownership and control to boost M&A

BUSINESS

Budget 2021: FDI cap hike in insurance sector with conditional foreign ownership and control to boost M&A

Experts believe the announcement is a long-overdue measure and would help to infuse foreign capital into a long gestation sector like insurance

Power Grid files for $1.1 billion InvIT IPO, first ever by a PSU

BUSINESS

Power Grid files for $1.1 billion InvIT IPO, first ever by a PSU

This is the first attempt at an initial public offering of an InvIT by a state owned firm. The private sector has seen two InvIT’s so far, namely IndiGrid InvIT & IRB Infra InvIT

Blackstone-backed Aadhar Housing Finance files DRHP for big bang $1-billion IPO

BUSINESS

Blackstone-backed Aadhar Housing Finance files DRHP for big bang $1-billion IPO

Aadhar Housing Finance IPO is expected to be a combination of fresh and secondary issue of shares

Rakesh Jhunjhunwala-backed Star Health Insurance to join IPO frenzy; firm valued in excess of $3 billion

BUSINESS

Rakesh Jhunjhunwala-backed Star Health Insurance to join IPO frenzy; firm valued in excess of $3 billion

COVID-19 has triggered a surge in sales of health insurance policies. Kotak Mahindra Capital, Citi, Axis Capital, ICICI Securities and BofA Securities are the investment banks engaged by the firm for the IPO.

B2B internet leader IndiaMART InterMESH looks to raise around Rs 1,000 crore via QIP for M&A war chest

BUSINESS

B2B internet leader IndiaMART InterMESH looks to raise around Rs 1,000 crore via QIP for M&A war chest

This would mark the debut fundraising exercise for IndiaMART InterMESH that has seen its share price skyrocket over 800 percent since its IPO in June 2019

Blackstone-backed auto parts firm Sona Comstar targets Rs 4,000-crore IPO

BUSINESS

Blackstone-backed auto parts firm Sona Comstar targets Rs 4,000-crore IPO

Sona Comstar is likely to file DRHP in February as 2021 is likely to see another listing from the Blackstone stable. The PE major has also begun work on an IPO by its housing finance portfolio company Aadhar Housing Finance.

Sovereign wealth fund ADQ to invest $75 million in Biocon Biologics, deal values firm at around $4 billion

BUSINESS

Sovereign wealth fund ADQ to invest $75 million in Biocon Biologics, deal values firm at around $4 billion

The current investment has put the post-money valuation of Biocon Biologics at ~$4.17 billion, said Kiran Mazumdar-Shaw, Executive Chairperson of Biocon

Lodha Group fires up IPO plans as real estate bounces back, may file papers with Sebi by March

BUSINESS

Lodha Group fires up IPO plans as real estate bounces back, may file papers with Sebi by March

Investment banks Axis Capital and JP Morgan have been roped in as advisors for the proposed listing. The Mumbai-based developer made two previous listing attempts in 2009 and 2018.

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