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Ashwin Mohan

Deputy Editor - Deals

Moneycontrol

16 deals worth more than Rs 10,000 crore stuck as wait for CCI quorum continues

BUSINESS

16 deals worth more than Rs 10,000 crore stuck as wait for CCI quorum continues

Several key deals across sectors are stuck as the regulator’s A team has insufficient members to approve transactions since the full time Chairperson left in October.

Investors of Skanray Technologies, a COVID star, are weighing majority stake sale

BUSINESS

Investors of Skanray Technologies, a COVID star, are weighing majority stake sale

Serial pharma entrepreneur Arun Kumar and private equity fund Ascent Capital, which hold a lion’s share of the shareholding, are the key investors in medical equipment manufacturer Skanray Technologies

Adani Enterprises may file for mega Rs 20,000cr FPO in Jan; takes more I-bankers on board

BUSINESS

Adani Enterprises may file for mega Rs 20,000cr FPO in Jan; takes more I-bankers on board

If it fructifies, the Adani Enterprises FPO would be arguably the biggest yet in India Inc, beating the previous record held by Yes Bank. In order to boost its capital levels in line with regulatory norms, the private sector lender had launched an FPO in July 2022 to raise Rs 15,000 crores.

Emirates NBD & Prem Watsa-led Fairfax Group may join IDBI Bank race, stock gains

BUSINESS

Emirates NBD & Prem Watsa-led Fairfax Group may join IDBI Bank race, stock gains

The government and LIC together are looking to sell 60.72 per cent in IDBI Bank and had invited bids from potential buyers in October. The last date for submitting Expression of Interest (EoI) or preliminary bids was set at December 16, which was later extended to January 7.

Which Indian i-bankers stole the show in 2022? Here’s their deals report card

BUSINESS

Which Indian i-bankers stole the show in 2022? Here’s their deals report card

Total annual i-banking fees which stood at $989.3 million reflected a 16 per cent YoY drop. Here's more

What’s the M&A roadmap for 2023? Top dealmakers have their say

BUSINESS

What’s the M&A roadmap for 2023? Top dealmakers have their say

The top 5 deals in terms of size in 2022 were from the financial services, IT services, cement, pharma and infra segments led by the biggest m&a deal in India’s corporate history – the mega HDFC-HDFC Bank merger.

Mamaearth parent files IPO papers; Sofina, Stellaris, Kunal Bahl, Shilpa Shetty to sell stake

BUSINESS

Mamaearth parent files IPO papers; Sofina, Stellaris, Kunal Bahl, Shilpa Shetty to sell stake

The net proceeds of the IPO will be used for advertisement expenses to improve brand visibility and awareness, setting up new exclusive brand outlets, investment in BBlunt for setting up new salons, general corporate purposes and inorganic growth

Temasek's top bid values Manipal Hospitals around Rs 40,000 crs-Rs 42,000 crs; Will TPG exit fully or hold on?

BUSINESS

Temasek's top bid values Manipal Hospitals around Rs 40,000 crs-Rs 42,000 crs; Will TPG exit fully or hold on?

TPG Capital picked up a stake in Manipal Hospitals for Rs 900 crore in February 2015 and has been looking to clock returns on its 7 year old bet. India’s sovereign wealth fund NIIF is the other external investor in the Ranjan Pai-led hospital chain

Why was KPMG India pulled up by the US audit regulator PCAOB?

BUSINESS

Why was KPMG India pulled up by the US audit regulator PCAOB?

KPMG India and engagement partner Sagar Pravin Lakhani were slapped with civil money penalties of $1 million and $75,000, respectively, for violating auditing and other rules. However, it has not disclosed the name of the company which KPMG India audited.

Infosys co-founder Raghavan, Carlyle-backed Indegene to float Rs 3,200-crore IPO

IPO

Infosys co-founder Raghavan, Carlyle-backed Indegene to float Rs 3,200-crore IPO

In February 2021, Carlyle and Brighton Park Capital picked a minority stake in Indegene for $200 mn. The deal consisted of a secondary sale from existing shareholders of Indegene and a primary investment into the company.

Tata Motors gives green signal for stake sale in subsidiary Tata Technologies via IPO

BUSINESS

Tata Motors gives green signal for stake sale in subsidiary Tata Technologies via IPO

Since TCS in 2004, no company from the Tata Group has made a debut on the domestic bourses. Tata Autocomp Systems shelved a $260 mn IPO and earlier this month, Tata Play ( earlier called Tata Sky) filed for a confidential pre-filing of offer documents.

General Atlantic and Kotak Mahindra Bank-backed KFin Tech may launch IPO on Dec 19; eyes Rs 6,300-crore valuation

BUSINESS

General Atlantic and Kotak Mahindra Bank-backed KFin Tech may launch IPO on Dec 19; eyes Rs 6,300-crore valuation

Other than majority shareholder General Atlantic, Kotak Mahindra Bank is also an investor in KFin Technologies. The private sector lender acquired nearly 10 percent stake in the firm last year by investing Rs 310 crore as primary infusion in the company

Paytm board to decide on share buyback today

BUSINESS

Paytm board to decide on share buyback today

In a recent interaction with analysts, Paytm’s parent firm One 97 Communications sounded optimistic on its growth prospects and reasserted its guidance on turning profitable at an operating level next year

Nexus Venture Partners and Sorin Investments lead Series A for Jamil Khatri’s consulting startup

BUSINESS

Nexus Venture Partners and Sorin Investments lead Series A for Jamil Khatri’s consulting startup

The investment marks the first bet for Sorin Investments, an early-stage tech fund founded by private equity veteran Sanjay Nayar, Former Chairman of KKR India. The likes of Pirojsha Godrej, Anant Goenka, Apoorva Patni, Keki Mistry, Ranu Vohra & Dhanpal Jhaveri also participated in the round.

Sula Vineyards set for IPO launch on December 12

BUSINESS

Sula Vineyards set for IPO launch on December 12

Sula Vineyards is considered a "category creator" and once the listing plans fructify, it would arguably be the first IPO in India by a pure play wine manufacturer

NSDL, India’s first depository, kicks off 2023 IPO plans; IDBI Bank, NSE may sell stake

BUSINESS

NSDL, India’s first depository, kicks off 2023 IPO plans; IDBI Bank, NSE may sell stake

If the listing plans fructify, NSDL would become the second depository services company to be listed on the domestic bourses, post the bumper market debut of peer Central Depository Services Limited in 2017

Kotak Special Situations Fund announces Rs 550 crore investment in Sanghi Industries

BUSINESS

Kotak Special Situations Fund announces Rs 550 crore investment in Sanghi Industries

KSSF timely infusion is aimed at correcting SIL's capital structure, help the company’s liquidity profile, and enhance its operations.

Blackstone files papers for India’s first retail mall REIT listing, targets $500 million

BUSINESS

Blackstone files papers for India’s first retail mall REIT listing, targets $500 million

If plans fructify, this would be the private equity giant’s third REIT listing in India, following the Embassy REIT and the Mindspace REIT, which made their market debuts earlier

Piramal, Bain-promoted India Resurgence Fund acquires control in Impresario

BUSINESS

Piramal, Bain-promoted India Resurgence Fund acquires control in Impresario

Moneycontrol was the first to report on June 11 that the fund is looking to gain control in Impressario, which operates food and beverage outlets such as Social and Smoke House Deli

We see liquidity and credit returning early next year: Investcorp on funding winter in Indian startups

BUSINESS

We see liquidity and credit returning early next year: Investcorp on funding winter in Indian startups

Investcorp, which counts Abu Dhabi sovereign fund Mubadala as one of its investors, has pumped in more than $500 million in India across both the private equity and real estate space

Medanta IPO: Carlyle to make full exit; strikes pre-IPO deal with RJ Corp, SBI MF and Novo Holdings

BUSINESS

Medanta IPO: Carlyle to make full exit; strikes pre-IPO deal with RJ Corp, SBI MF and Novo Holdings

The IPO consists of a fresh issue component of Rs 500 crore and an offer for sale (OFS) of up to 50,761,000 shares as part of which Carlyle will sell up to 50,661,000 shares. A combination of the pre-IPO pacts and the OFS would result in a full exit for Carlyle from Global Health Ltd

Global PE firm Permira appoints Siddharth Narayan of Warburg Pincus as India head

BUSINESS

Global PE firm Permira appoints Siddharth Narayan of Warburg Pincus as India head

Permira first opened offices in the APAC region nearly 20 years ago, and the Permira funds have invested over €4bn in 12 investments in the region since inception. Siddharth has spent the last decade at Warburg Pincus focusing on investment opportunities in digital and fast-growing businesses across the consumer internet, software, fintech and services sectors in India.

Naresh Trehan’s Medanta Hospitals eyeing post-Diwali D-Street check-in; valuation pegged at Rs 8,800 crore

BUSINESS

Naresh Trehan’s Medanta Hospitals eyeing post-Diwali D-Street check-in; valuation pegged at Rs 8,800 crore

Global Health Ltd, which owns the ‘Medanta’ brand, is one of the largest private multi-speciality tertiary care providers operating in the North and East regions of India. The firm is backed by private equity firm Carlyle and Singapore’s Temasek

Sanghi Industries in talks to raise Rs 500 crore from Kotak Special Situations Fund

BUSINESS

Sanghi Industries in talks to raise Rs 500 crore from Kotak Special Situations Fund

The investments of Kotak Special Situations Fund typically involve a combination of debt, equity and mezzanine instruments and it primarily targets distressed/stressed or special situation opportunities. It has earlier invested in Nuvoco Vistas, Jindal Stainless, Gold Plus Glass Industry and Sify’s Data Center business.