BUSINESS
Goldman Sachs to provide exit to PE firm ChrysCapital, acquire significant minority stake in GVK Biosciences
This is the second domestic pure play pharma investment by the Goldman Sachs group. In November 2020, it pumped in $150 million in Kiran Mazumdar Shaw-led Biocon Biologics. Goldman Sachs is an active investor in India, deploying more than $3.6 billion in capital since 2006
BUSINESS
IPO-bound Flipkart to get new head of strategy; Bain & Co’s Dinkar Ayilavarapu to come on board
Ayilavarapu, an IIM Calcutta alumnus, is a member of Bain & Company’s Results Delivery and Technology, Media and Telecommunications (TMT) practices in the Asia-Pacific region.
BUSINESS
CarTrade files for IPO to raise around Rs 2,000 crores, first ever by an auto classifieds portal
CarTrade competes with the likes of Droom, Cars24, Quikr, Olx and Mahindra First Choice Wheels. The firm’s founder and CEO Vinay Sanghi was the CEO of Mahindra First Choice Wheels between 2000 and 2009.
BUSINESS
KFC, Pizza Hut and Costa Coffee operator Devyani International joins QSR listing wave, files for Rs 1,400 crore IPO
If plans fructify, this would be the third QSR IPO in recent times post-Burger King and Barbecue Nation. Devyani International is an arm of diversified conglomerate RJ Corp, the largest bottler for Pepsi Co in India and it also counts Yum ! Brands, the second-largest QSR company in the world, and Singapore’s Temasek as investors.
BUSINESS
Consortium of Multiples PE, CPPIB & Rakesh Jhunjhunwala to buy Cadila’s animal health business for Rs 2,921 crore
Cadila Healthcare has gone ahead with the divestment to accelerate the growth of the business, improve operational efficiencies and explore strategic choices for the animal health vertical
BUSINESS
Bessemer Ventures & Investcorp-backed Medi Assist Files DRHP for Rs 840-crore IPO
Medi Assist’s IPO will the first in the country by an insurance third-party administrator. The Bengaluru-based firm has emerged as India’s largest health benefits administrator in terms of revenue and premium services.
INDIA
Steady supply chain that enables rapid vaccination coverage is paramount: Ranjan Pai of Manipal Hospitals
In November 2020, Manipal Hospitals which is backed by Temasek and TPG, had acquired the Indian hospital assets of US based Columbia Asia Hospitals for around Rs 2,100 crores.
BUSINESS
Nirma Group announces filing of IPO papers by cement arm Nuvoco Vistas
Nuvoco Vistas IPO: The company, in terms of its manufacturing capacity, stands to be the 5th largest cement company in India and the largest cement company in East India.
BUSINESS
Nuvoco Vistas files DRHP for Rs 5,000 crore IPO; marks capital markets comeback by Karsanbhai Patel-backed Nirma
Nuvoco Vistas has acquired the assets of Lafarge India and Emami Group and is present in the fast growing regions of east and north India. It competes with pan-India players like Ultratech Cement, Dalmia Bharat and Shree Cement.
BUSINESS
KPMG’s Sanjay Singh to spearhead India team of investment bank BDA Partners
Singh, an IIM Bangalore alumnus, has spent over 13 years at KPMG India and has lead transactions in the healthcare, pharmaceutical and chemical sectors. BDA Partners specializes in cross-border m&a and is keen to beef up its footprint in India
BUSINESS
BofA India Dealmaker Sunil Khaitan May Take Up SE-Asia Role; Kotak’s Subhrajit Roy Likely Frontrunner To Replace Khaitan
Sunil Khaitan has had a stint of a little more than three years in his current role in India. Subhrajit Roy, an IIM Lucknow alumnus, has worked with Kotak Investment Banking for the past seven years.
BUSINESS
Blackstone India’s Amit Dixit elevated to Head of Private Equity (Asia)
Amit Dixit, a Harvard Business School and IIT Mumbai alumnus has been with Blackstone India for 14 years. Previously, he was a Principal at rival private equity firm Warburg Pincus.
TRENDS
The firm that connects Elon Musk, Rihanna, mixed martial arts and three Reliance Jio investors
Endeavor, the Los Angeles-based entertainment behemoth, raised $511 million in a US IPO earlier this week valuing it at around $10 billion. The bold deal has raised hopes of revival in the sector battered by the global pandemic.
BUSINESS
All you wanted to know about the Rs 8,250-crore Zomato IPO: We decipher the internet economy’s most awaited DRHP!
The leading restaurant aggregator and food delivery firm is backed by marquee investors such as Info Edge, Temasek, Ant Financial, and Tiger Global, among others.
BUSINESS
Race For Citi India assets: HDFC Bank may join long list of suitors
In India, the US based financial powerhouse had about 30 lakh customers in retail, 22 lakh credit cards and 12 lakh bank accounts, as of March 2020.
BUSINESS
Race for JSW Cement: Apollo Global, Advent and Synergy Capital in fray for stake sale at valuation of around $1.5 billion
JSW Cement is planning an IPO in the next two years and this fund raise will help it to expand its existing capacity and accelerate growth, according to sources.
BUSINESS
KKR controlled Ramky Enviro Engineers revives strategic review plans
The US private equity giant had announced the acquisition of a 60 per cent stake in the firm in August 2018 for $530 mn. Back then, it was the largest buyout by a PE fund in India’s environmental services sector.
BUSINESS
Goldman Sachs Private Equity emerges frontrunner to acquire ChrysCap stake in GVK Biosciences
The CRAMs ( contract research and manufacturing services) segment is fetching rich valuations globally and back home, the segment has seen minority stake sale deals like True North-Anthem Biosciences & TPG-Sai Lifesciences.
BUSINESS
Glenmark Pharma’s Kaizad Hazari to become General Counsel of Arcelor Mittal Nippon Steel India; Ex- Dr Reddy’s Suprio Dasgupta to replace Hazari
Kaizad Hazari has more than 28 years of experience and has previously worked with HDFC Ltd, GSK, Hindalco Industries, Raymonds, Asian Paints and ICICI Bank. Prior to Dr Reddy’s, Dasgupta, an alumnus of the NLSIU Bangalore 1994 LLM batch, has had stints at Schneider Electric, International Paper , Honeywell International, General Electric and the United Nations High Commission for Refugees.
BUSINESS
Glenmark Pharma’s API arm files papers with Sebi to unlock value via IPO
Two years ago, Glenmark Pharmaceuticals had attempted to sell a minority stake in its API business to private equity funds but those plans did not fructify. Post the Q3FY21 results, the management indicated that API growth outlook remained strong for the next two-three years owing to a favourable demand-supply scenario.
BUSINESS
Churn continues, Shardul Amarchand Mangaldas Partner Roshan Thomas to join Byju’s as group general counsel
Thomas joins the edtech firm at a time when its valuation has touched $15 billion. Byju’s has also been on an acquisition spree, plucking Aakash Educational Services for $1billion in India’s biggest edtech deal.
BUSINESS
Walmart-backed Flipkart makes big splash in online travel segment, announces acquisition of 100% stake in Cleartrip
Under the terms of the agreement, Cleartrip operations will be acquired by Flipkart. Cleartrip will continue to operate as a separate brand, retaining all employees while working closely with Flipkart to further develop technology solutions to make travel simple for customers.
BUSINESS
Packaging firm Polyplex Corporation exploring sale of majority stake, ropes in Goldman Sachs as advisers
Polyplex is one of the world’s leading PET film manufacturers and run’s integrated manufacturing & distribution operations in six countries viz. India, Thailand, Turkey, USA., Indonesia & Netherlands. The firm supplies to about 1900 customers in 83 countries
BUSINESS
Walmart-backed Flipkart in final-stage talks to buy ClearTrip; announcement likely soon
With the proposed acquisition, Flipkart would warm up to the ‘super app strategy’ and will be better positioned to take on the likes of MakeMyTrip, Yatra, Booking.com, EaseMyTrip and IPO-bound Ixigo.
