BUSINESS
Online travel marketplace ixigo picks Kotak, I-Sec, Axis and Nomura as I-bankers for 2021 IPO
On April 5, 2021, Moneycontrol was the first to report that ixigo was planning to go public in 2021 and looking to raise Rs 1,500 crore to Rs 1,800 crore via the IPO.
BUSINESS
Diageo-Backed USL May Look To Sell Mass Brands Bagpiper, Old Tavern, White Mischief & Haywards
Diageo picks Morgan Stanley as advisor. Company inherited many of its existing brands when it acquired United Spirits Ltd (USL) from Vijay Mallya in 2013 in its biggest India bet.
BUSINESS
Motilal Oswal Private Equity & LeapFrog May Lead Around Rs 500 cr Pre-IPO Funding Round In True North Backed Fincare
Suryoday Small Finance Bank hit the markets in March, 2021 with a Rs 583 crore IPO and had a muted listing. Another player, TPG backed Jana Small Finance Bank filed a DRHP earlier this month to raise upto Rs 700 crores in fresh capital, with existing shareholders eyeing a partial exit through the OFS ( offer for sale ) route.
BUSINESS
PE fund True North Fund sells part stake in IPO bound Policybazaar: Buyers include Serum Institute
True North has launched six separate investment funds with a combined corpus of ~$3 billion including co-investments and its domestic portfolio includes the likes of Biocon Biologics, Fincare and Home First Housing Finance which recently made a market debut.
BUSINESS
Ixigo, online travel site backed by Sequoia Capital and Elevation Capital, latest to join IPO bandwagon
Ixigo aims to raise up to Rs 1,800 crore. Rival Easemytrip’s Rs 510-crore IPO was launched on March 19, 2021 and got listed at Rs 212.25 on the NSE, a 13.5 per cent premium to its issue price of Rs 187.
BUSINESS
Everstone Group’s Devaiah PM Headed To Adani Group As Group General Counsel; NDA’s Pratibha Jain To Takeover His Role
In recent times, the domestic legal circles have witnessed a churn when it comes to executives working in law firms and corporates. Sapan Gupta was elevated to the post of Global General Counsel at Lakshmi Mittal & L& L Partner Damini Bhalla is headed to IPO bound food delivery unicorn Zomato as General Counsel.
BUSINESS
Fusion Microfinance, focussed on rural women entrepreneurs and backed by Warburg Pincus targets 2021 IPO
Devesh Sachdev, the vice-chairman and board member of MFIN ( self-regulatory body for NBFC-MFIs) is the founder and CEO of Fusion Microfinance. Fusion Microfinance was set up in 2010 and now serves 1.8 million active customers through a network of 591 branches and 5,490 people.
BUSINESS
NIIF to invest Rs 2,100 crore in Manipal Hospitals; seals debut investment in domestic healthcare segment
NIIF will now join private equity funds TPG & Temasek who are existing investors in Ranjan Pai-controlled Manipal Hospitals
BUSINESS
Manipal Hospitals in talks to sell minority stake to govt-backed NIIF and raise around Rs 2,000 crore
Manipal Hospitals is eyeing an IPO in the next two or three years. It had earlier explored potential deals with Fortis Hospitals and Medanta Medicity, which did not fructify and in November 2020, it announced the buyout of the Indian assets of Columbia Asia Hospitals for around Rs 2,100 crore.
BUSINESS
Online broker Upstox, backed by Ratan Tata and Tiger Global, weighs US SPAC listing
The fast-growing Upstox, which recently joined the Indian Premier League as an official partner, competes with the likes of Zerodha, Groww and Paytm Money.
BUSINESS
Sapan Gupta elevated as global legal head of Arcelor Mittal
Gupta is an attorney with nearly two decades of experience. Previously, he was a Partner and National Practice Head (Banking and Finance ) at leading law firm Shardul Amarchand Mangaldas.
BUSINESS
Future wins stay against Delhi HC judge’s order on Amazon arbitration
Justice JR Midha went beyond his scope, Harish Salve tells division bench.
BUSINESS
Carlyle sells about 4% stake in SBI Cards & Payment Services for $513 million via block deal
The offer price range is Rs 981.80/share to Rs 1,022.10/share (the upper end reflecting a 3.94 percent discount to the closing price of Rs 1,022.1 on 16th March), as per the term sheet accessed by Moneycontrol.
BUSINESS
Warburg Pincus-backed Kalyan Jewellers gearing up for IPO launch on March 16; may revise offer size
This would be the first listing by a pure-play jewellery player since PC Jewellers hit the markets in December 2012. As of June 30, 2020, Kalyan Jewellers had 107 showrooms located across 21 states and Union territories in India and also had an international presence with 30 showrooms located in the Middle East.
BUSINESS
BNP Paribas Cardiff launches mega share sale in SBI Life Insurance; deal may mark French insurer's exit from the two-decade-old JV
On December 4, 2020, Moneycontrol was the first to report that BNP Paribas Cardiff was evaluating the sale of its balance stake in SBI Life Insurance via a block deal.
BUSINESS
Glenmark Pharma looking to unlock value of API arm via IPO route in 2021
The Glenmark IPO plan is being seen as a value unlocking exercise by the promoters. Investors will have the option or flexibility of betting on a pure play API business
BUSINESS
Cadila Healthcare’s animal health business: Multiples PE-CPPIB alliance emerges frontrunner
Founded in 2009, Multiples PE is headed by CEO & Founder Renuka Ramnath, the former MD & CEO of ICICI Ventures. In the pharma & healthcare segment, Multiples PE has invested in firms like Natco Pharma, Encube Ethicals and Bengaluru-based Vikram Hospitals.
BUSINESS
BPCL, ICICI Group and Blackstone-backed Fino Payments Bank kicks off IPO plans; first ever in niche segment
Fino Payments Bank turned profitable at the operating level in FY2019-20, within three years of starting the operations in June 2017. It is eligible to convert to a small finance bank in 2021.
BUSINESS
HDFC Bank exploring sale of controlling stake in Syska Led Lights
Syska Led Lights may also explore a fund raise by selling a minority stake to PE funds, though according to reports this has been attempted once earlier.
BUSINESS
KKR-backed Max Healthcare launches QIP to raise around Rs 1,200 crore
In a disclosure to the exchanges, the company said it may at its absolute discretion, offer a discount of not more than 5 per cent of the floor price.
BUSINESS
Walmart-owned Flipkart in talks to add Cleartrip to its shopping cart
Most large ecommerce players like Flipkart, Amazon and Paytm want to embrace the super-app strategy and be present in every business segment, be it retail, food delivery, payment services and travel. From that vantage online travel aggregator Cleartrip makes sense for Flipkart.
BUSINESS
PE fund True North picks up minority stake in niche pharmaceutical firm Anthem Biosciences
True North’s existing portfolio in the pharma and healthcare segment includes firms like Biocon Biologics, DM Healthcare Cloudnine and Kerala-based KIMS.
BUSINESS
Burger King India has flexibility, freedom to take on other franchises: Everstone Group’s Sameer Sain
In a rare and exclusive interview, Sameer Sain, a former Goldman Sachs executive, weighs in on Burger King’s journey to D-street and the sceptics along the way, the firm’s growth strategy and rivalry with Dominoes, his bullishness on the clean energy segment and the REIT (real estate investment trust) opportunity. That’s not all. He also gives a reality check on the SPAC (special purpose acquisition company) craze on Wall Street.
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.
