BUSINESS
Bajaj Finance arm Bajaj Housing Finance starts preparation for IPO targeting $9-10 billion valuation
The IPO of the home financier marks the Bajaj Group's return to the public market after many years
BUSINESS
PE firm Olympus looks to sell nearly 10% stake in Aster DM Healthcare for $235 mn
The floor price is likely to be Rs 400 per share, which represents nearly 9% discount from current market price of Aster DM's stock
BUSINESS
IPO-bound Avanse, backed by Warburg Pincus, raises Rs 1,000 crore in funding round led by Mubadala
'The growth capital will enable us to strengthen our brand proposition, integrate digital solutions, and innovate to build more depth into our product range,' says Amit Gainda, MD & CEO, Avanse Financial Services.
BUSINESS
Fractal Analytics revives IPO plans; eyeing $500 mn plus raise at $3bn- $3.5bn valuation
Apax Partners and TPG-backed Fractal Analytics was founded in 2000 by five graduates of IIM Ahmedabad and attained unicorn status in February 2022
BUSINESS
TPG and Temasek-backed Dr Agarwals Healthcare picks 5 i-banks, kicks off IPO to raise around Rs 3,000 crore
Singapore investment giant Temasek and US private equity firm TPG Growth collectively hold a majority stake of around 60 percent in Dr Agarwals Health Care and have participated in two fund raising rounds since May 2022
BUSINESS
Verlinvest explores selling part stake in Danone & Deepika Padukone backed Epigamia
Launched in 2015, Mumbai-based Epigamia is present in segments ranging from yogurt, curd and beverages to milkshakes , smoothies and kheer
BUSINESS
Manipal Hospitals enters final leg of Medica Synergie buyout for Rs 1,200 cr-Rs 1,400 cr
In December 2021, Temasek's healthcare platform Sheares had acquired a majority position in Medica Synergie by purchasing the stake held by private equity firm Quadria Capital
BUSINESS
Theobroma stake sale: ICICI Venture, promoters appoint Arpwood Capital; eye valuation of Rs 3,500 crore
Theobroma was founded in 2004, when the first pastry store opened its doors in Colaba, Mumbai. Today, the firm is a popular pan-India patisserie and cafe chain
BUSINESS
IndiGo co-founder Rakesh Gangwal looks to raise about $450 mn via block deal
The floor price for the block deal is set at Rs 2,925 per share, which is about 5.8 percent discount to closing price.
BUSINESS
Rajiv Jain’s GQG Partners ups the ante in India with bets on Bharti Airtel, Lodha
The investment firm manages more than $127 billion in assets globally.
BUSINESS
Apax Partners-promoted Healthium Medtech on sale: EQT, KKR, Bain Cap, Advent likely bidders
In 2018, British private equity firm Apax Partners acquired Bengaluru based Healthium Medtech (earlier known as Sutures India Pvt Ltd) from investors including TPG Growth and CX Partners
BUSINESS
Exclusive: M&M promoter entity looking to sell stake worth $215 mn via block deal
"The block deal has been launched, and the offer price range is Rs 1911.5 per share to Rs 1970.65," said one of the people cited above, requesting anonymity.
BUSINESS
EY Financial Services spearhead and veteran dealmaker Abizer Diwanji steps down
Diwanji has 26 years of experience in the financial services industry. Prior to EY, he spent nearly 15 years at rival Big 4 firm KPMG, where he started the restructuring practice in India
BUSINESS
Exclusive: Macrotech Developers launches QIP to raise around $400 mn
The QIP has been launched and the proceeds will be used for acquisition of land and for debt repayment, sources told Moneycontrol
BUSINESS
Aditya Birla Group taps Citi, BofA Securities and Morgan Stanley for Novelis US IPO
Novelis US IPO: The deal is arguably the first instance of an Indian conglomerate attempting a listing of its subsidiary in the US market. In 2019, Bharti Airtel's Africa subsidiary had listed on the London Stock Exchange and the Nigerian Stock Exchange.
BUSINESS
Gujarat Titans, HealthCare Global backer CVC raises $6.8 bn for largest Asia fund
CVC has been active in Asia since 1999 and has made more than 80 acquisitions in the region. Its India portfolio includes chemicals firm Sajjan India and UnitedLex, a legal services provider
BUSINESS
KKR revives process to exit Avendus Capital; onboards Nomura as advisor
In November 2015, KKR picked up a controlling stake in Avendus Capital from existing investors
BUSINESS
Whirlpool promoter entity plans to sell up to 24% stake worth $451 million
On November 30, 2023, Whirpool Corp, the promoter group that currently owns 75 percent, said it would sell up to 24 percent of its ownership interest in Whirlpool of India Ltd in an effort to reduce debt levels
BUSINESS
Belgian investor Verlinvest eyeing exit from Sula Vineyards
Size of the proposed block deal by Verlinvest is around $52 million and the floor price is Rs 570/share
BUSINESS
Hyundai picks JP Morgan, Citi and HSBC as advisors for mega IPO of India arm
A potential filing of the draft papers of this mega deal in the works is likely by June 2024 and if the listing plans fructify, it would be the biggest ever IPO on the Indian bourses.
BUSINESS
Will India appeal to listing plans of big global brands? Yes, says Citi Asia's Udhay Furtado
Furtado, the Co-Head, Asia ECM (Equity Capital Markets) at Citi believes India's attractiveness as a listing destination has increased with global supply chains in certain market segments moving into the country
BUSINESS
Expect India to be busiest Asian market for IPOs in 2024 with bigger deals: Citi Asia's Udhay Furtado
In 2023, the Indian arm of the investment bank worked on deals like the blockbuster $365-million Tata Technologies IPO, the $630-million Cube Highways InvIT listing and the $280-million Brookfield India REIT QIP
BUSINESS
Advent kickstarts merger process of Suven Pharma & Cohance; engages Kotak & Citi
Suven Pharmaceuticals is a listed CDMO and Cohance Lifesciences is an unlisted API and CDMO platform. Both are part of private equity firm Advent International's India portfolio.
BUSINESS
Mankind Pharma promoters to divest part stake to meet Sebi's MPS norms
As per market regulator Sebi's guidelines, all listed firms should maintain a minimum public shareholding of 25 percent.
