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?
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.
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.
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.
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.
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.
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.
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.
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
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
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.
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
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.
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
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.
BUSINESS
Winds of change at PwC India; new Chairman Sanjeev Krishan announces his A-team across verticals
Arnab Basu will take over as the new advisory leader, Sanjay Tolia is the tax and regulatory services leader, Dinesh Arora takes over as Deals Leader, a role held by Sanjeev Krishan before he became the chairman, and Vivek Prasad becomes the markets leader.
BUSINESS
New Year fireworks: Future Group writes to Amazon, says firm has ‘illegally exercised its rights’
Amazon is also not a party to the Future Retail shareholders agreement and its conduct is smacks of mala fide, with an intent to obstruct the merger with RIL, says the letter.
BUSINESS
Hope for increased healthcare spending, recapitalisation support for ailing firms in Budget 2021: PwC India Chairman Sanjeev Krishan
Big 4 firm PwC which provides audit, tax and advisory services has a new man at the helm of affairs in India. And the chosen one is a soft-spoken, ever-smiling dealmaker. Sanjeev Krishan, who has risen from the ranks, takes charge of the firm, as the corporate world looks to rise from the scars of the pandemic and trudge towards a revival.
BUSINESS
Groupo Bimbo strikes deal to buy Everstone Capital backed Modern Foods
Acquisition of the popular bread and bakery brand is Groupo Bimbo’s second deal in India in the segment. HUL sold Modern Foods to Everstone Capital in 2015.
BUSINESS
Exclusive | Jubilant Life Sciences looking to tap PE funds for pharma business, raise $500 million
On October 25, 2019, the board of Jubilant Life Sciences announced a restructuring of the company into two separate entities -- one handling pharmaceuticals operations and the other its life science ingredient business.
BUSINESS
Exclusive | KFC, Pizza Hut operator Sapphire Foods eyes 2021 IPO; backed by Goldman Sachs, Samara Capital
‘The Burger King wave should work well for Sapphire Foods in terms of valuations and market appetite. As of now, it is planning to file the DRHP with Sebi in Q1FY22’
BUSINESS
DHFL race: Piramal holds edge over Oaktree due to higher upfront cash, insurance tangle for foreign firms
Piramal Enterprises offers at least Rs 1,000 crore higher upfront payment than US asset manager Oaktree for DHFL in fourth round of auction. India’s FDI laws complicate Oaktree bid as DHFL has an insurance business.
BUSINESS
Blackstone-backed Embassy Office Parks approves launch of $500-$600mn QIP; first ever by an REIT in India
Embassy Office Parks REIT is looking to raise between $500 million to $600 million to fund the recent acquisition of additional office assets to bolster the existing portfolio, according to sources
BUSINESS
Explained | Why common ownership in companies by private equity funds has caught the fancy of CCI
The Competition Commission of India (CCI) is keeping a close eye raft of changes in the world of mergers and acquisitions.What does this mean for PE funds?
