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Ashwin Mohan

Deputy Editor - Deals

Moneycontrol

Corporate Crossings | UK’s Permira Private Equity to set up India office; Warburg Pincus exec may lead desi ops

BUSINESS

Corporate Crossings | UK’s Permira Private Equity to set up India office; Warburg Pincus exec may lead desi ops

The move comes at a time when Permira has raised 16 billion euros for its new flagship fund.

State-owned TCIL invites RFPs to evaluate its stake value in Bharti Airtel JV

BUSINESS

State-owned TCIL invites RFPs to evaluate its stake value in Bharti Airtel JV

TCIL holds a 30 percent stake in Bharti Hexacom Ltd while the balance 70 percent stake is held by Bharti Airtel.

With eye on growth capital, AU Small Finance Bank approves QIP launch

BUSINESS

With eye on growth capital, AU Small Finance Bank approves QIP launch

This is the third equity fund raise by AU Small Finance in the last three years and the lender’s stock price has risen by over seven percent in the last month. On May 23, 2022, Moneycontrol was the first to report that the Jaipur-headquartered firm was mulling a fresh equity fund raise through the QIP route in FY23

Former KPMG audit head Khatri to float global consultancy firm in new innings

BUSINESS

Former KPMG audit head Khatri to float global consultancy firm in new innings

Jamil Khatri had stepped down recently after a tenure of 27 years

How did DSK Legal's Anand Desai strike the mega lawyer crossover from L&L Partners and more

BUSINESS

How did DSK Legal's Anand Desai strike the mega lawyer crossover from L&L Partners and more

Moneycontrol caught up for a quick, exclusive chat with the man of the moment - Anand Desai, Managing Partner of DSK Legal. Desai spoke about what led to the mega-crossover, the synergies, the plans for DSK Legal 2.0 and more

Sula Vineyards raises a toast to D-Street, files IPO papers with Sebi

BUSINESS

Sula Vineyards raises a toast to D-Street, files IPO papers with Sebi

The firm, backed by consumer focused Belgian family office Verlinvest, dominates the domestic wine market with a portfolio of brands across price points and an expansive distribution network.

Corporate Crossings | ICICI Bank's Group General Counsel Pramod Rao likely to join Sebi as ED

BUSINESS

Corporate Crossings | ICICI Bank's Group General Counsel Pramod Rao likely to join Sebi as ED

As Group General Counsel, Rao provided strategic oversight to the legal function of ICICI Group

Race for Everstone-backed Sahyadri Hospitals: Canadian pension fund OTPPB may be lead suitor

BUSINESS

Race for Everstone-backed Sahyadri Hospitals: Canadian pension fund OTPPB may be lead suitor

In April 2019, Everstone announced the buyout of a majority stake in Sahyadri Hospitals via a combination of primary and secondary capital with an intention to position it as the anchor asset of the former’s healthcare delivery platform

KKR, pension fund CPPIB eyeing exit from Indus Towers

BUSINESS

KKR, pension fund CPPIB eyeing exit from Indus Towers

CPPIB currently holds 2.15 percent stake while KKR holds 4.85 percent stake in the firm. Based on the market cap of Indus Towers at the end of day's trade on July 8, the combined 7 percent stake is worth Rs 3,952 crore.

Tata Motors arm Tata Technologies eyes IPO; will it be the first from Tata Group since TCS in 2004?

BUSINESS

Tata Motors arm Tata Technologies eyes IPO; will it be the first from Tata Group since TCS in 2004?

Tata Motors holds little more than 74 per cent stake in Tata Technologies, according to the former’s 2022 annual report. Interestingly, in early 2018, Tata Motors had called off the sale of a significant minority stake ( 43 per cent) in Tata Technologies to private equity major Warburg Pincus for $360 mn

India I-banking fees dip 25% in H1CY2022 amid record M&A, IPO proceeds: Refinitiv

BUSINESS

India I-banking fees dip 25% in H1CY2022 amid record M&A, IPO proceeds: Refinitiv

A notable theme this year was the growing M&A activity involving renewable energy and sustainable sectors which rose by more than 40 percent on a YoY basis, the Refinitiv report said. India was one of the few markets which witnessed an increase in IPO activity during a phase when listings dropped dramatically on a global level following a record 2021.

$35bn Realty PE Fund Gaw Capital Partners Plans India Entry; Macquarie Group’s Nitin Gupta To Lead Ops

BUSINESS

$35bn Realty PE Fund Gaw Capital Partners Plans India Entry; Macquarie Group’s Nitin Gupta To Lead Ops

Gaw Capital's investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, serviced apartments, hotels, logistics warehouses and IDC projects

Big 4 veteran and former Paytm president Deepankar Sanwalka joins Grant Thornton as senior partner

COMPANIES

Big 4 veteran and former Paytm president Deepankar Sanwalka joins Grant Thornton as senior partner

Sanwalka, a Big 4 veteran of 27 years previously worked with PwC, where he was the India Advisory Leader and Leader- Risk Advisory services, and at KPMG, he led the Risk Consulting vertical.

L Catterton Asia looks to cede control in Social, Smoke House Deli operator; Piramal-Bain Fund in race

BUSINESS

L Catterton Asia looks to cede control in Social, Smoke House Deli operator; Piramal-Bain Fund in race

In 2017, L Catterton Asia had invested in Impresario, which backs popular f&b labels Social and Smoke House Deli.

IIFL Finance's housing finance arm to raise Rs 2,200 crore investment from ADIA for 20% stake; shares rise

BUSINESS

IIFL Finance's housing finance arm to raise Rs 2,200 crore investment from ADIA for 20% stake; shares rise

This would be one of the largest equity investments in the affordable housing finance segment in India by a financial investor

TVS Motor Co launches $300-350 million fund raise process for EV arm; Citi tapped as advisor

BUSINESS

TVS Motor Co launches $300-350 million fund raise process for EV arm; Citi tapped as advisor

Moneycontrol was the first to report that the firm was looking to tap private equity investors for its electric mobility business on November 9, 2021. Later, in December, TVS Electric Mobility was incorporated as a subsidiary with an investment plan of Rs 1,000 crore

ADIA lead suitor for 20% stake buy in IIFL Finance's housing finance arm

BUSINESS

ADIA lead suitor for 20% stake buy in IIFL Finance's housing finance arm

Canadian billionaire Prem Watsa-backed Fairfax Group and the UK government’s development finance institution CDC Group are key investors in IIFL Finance, a retail-oriented NBFC, holding 22.3% stake and 7.7% stake, respectively

Corporate Crossings | Paytm sees another exit as enterprise functions president jumps to Grant Thornton

BUSINESS

Corporate Crossings | Paytm sees another exit as enterprise functions president jumps to Grant Thornton

Deepankar Sanwalka, a Big Four veteran of 27 years, has previously worked with PwC where he was the India advisory leader and leader of risk advisory services, and at KPMG he led the risk consulting vertical.

Corporate Crossings | EY e-commerce & consumer internet spearhead Ankur Pahwa quits to start VC fund

BUSINESS

Corporate Crossings | EY e-commerce & consumer internet spearhead Ankur Pahwa quits to start VC fund

Pahwa, also a partner in EY’s Transactions Diligence Practice has spent more than 16 years at the firm in two stints. He has worked earlier at BMR Advisors and Arthur Anderson (which merged its operations with EY India in 2002)

Clermont Group & Arpwood Partners-backed SBFC Finance kickstarts IPO prep, appoints 3 I-bankers

BUSINESS

Clermont Group & Arpwood Partners-backed SBFC Finance kickstarts IPO prep, appoints 3 I-bankers

Mumbai-based SBFC Finance kick-started operations in 2017 and acquired the retail lending business of Karvy Financial Services Private Limited with 65 branches and 700+ people.

Blackstone-Aurobindo Pharma talks over injectable business stake sale hit hurdle

BUSINESS

Blackstone-Aurobindo Pharma talks over injectable business stake sale hit hurdle

On March 16, Moneycontrol had reported that the race for the injectable business, which was being run by investment bank Kotak Mahindra Capital, had entered the final leg with three shortlisted suitors. “Blackstone is aggressively pursuing this deal and is being viewed currently as a strong contender,” the report had added.

AU Small Finance Bank weighs Rs 2,000-3,000-crore QIP in FY23; four I-Banks on board

BUSINESS

AU Small Finance Bank weighs Rs 2,000-3,000-crore QIP in FY23; four I-Banks on board

In December 2019, Singapore state investment arm Temasek announced that it had completed the acquisition of a 4.8 percent stake in AU Bank after investing Rs 525 crore. This quantum was part of a total commitment of Rs 1,000 crore made earlier. Later, in March 2021, the firm raised Rs 625 crore through the QIP route and the markets cheered the move which saw a strong reception from sovereign wealth funds, large foreign portfolio investors, life insurance companies and domestic mutual funds

Pepperfry picks I-Sec, Axis Cap, JPM for around $250 mn IPO; Filing likely next month

BUSINESS

Pepperfry picks I-Sec, Axis Cap, JPM for around $250 mn IPO; Filing likely next month

Some of Pepperfry’s key investors include Norwest Ventures, Broadstreet Investments, General Electric Pension Trust and Bertelsmann. In February 2020, the company had raised $40 million in a growth round led by Pidilite Industries, the maker of popular adhesive brand Fevicol.

Race for Mytrah Energy assets: JSW Group signs exclusivity pact; deal valued between $1.6 billion and $1.7 billion

BUSINESS

Race for Mytrah Energy assets: JSW Group signs exclusivity pact; deal valued between $1.6 billion and $1.7 billion

JSW Energy, the likely acquiring entity, is keen to bolster its green energy footprint. Mytrah Energy has 1.7 GW of operational wind and solar assets

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