BUSINESS
Citi's equity capital market deals spearhead Arvind Vashistha quits; may join rival JPM
Vashistha, a chartered accountant, joined Citi as head of equity capital markets in November 2014. He had joined from UBS, where has working as executive director, global capital markets, since 2006.
BUSINESS
Brookfield Asset Management appoints Anuj Ranjan as new CEO of private equity business
Before this elevation, Ranjan was President of Brookfield’s Private Equity business and Global Head of Business Development
BUSINESS
Aadhar Housing Finance refiles draft papers for Rs 5,000 crore IPO
Aadhar Housing Finance had previously filed papers for an IPO in January 2021 and had received a nod from the regulator in May 2022.
BUSINESS
Impact of tax breather in Budget 2024 for sovereign wealth funds and pension funds
Experts believe the one-year extension of tax sops will aid the National Monetisation Pipeline and also add more sovereign wealth funds and pension funds to the India infrastructure story
BUSINESS
Stakeholders seek detailed framework for direct overseas listing in Budget 2024
On January 24, a Finance Ministry notification okayed the direct listing of shares of Indian companies at GIFT City's exchanges, namely India International Exchange and NSE International Exchange
BUSINESS
Budget 2024 expectations: What is the wish list of private equity and VC funds
Though combined PE/VC investments declined on a YoY basis in 2023, the year saw a 23% rise in bets on infrastructure and real estate asset classes. The calendar year 2023 was also the second-best year for PE-backed IPOs with 30 listings
BUSINESS
KKR, CPPIB launch $465 million block deal to exit Indus Towers
In 2017, Bharti Airtel sold 10.3% stake in Bharti Infratel to a consortium of investors including CPPIB & KKR. Funds managed by KKR had also previously invested in Bharti Infratel between 2008 and 2015
BUSINESS
Blackstone-backed Aadhar HF plans to soon re-file for Rs 5,000-5,500 crore IPO
Aadhar Housing Finance previously filed papers for an IPO in January 2021, and had received a nod from the regulator in May 2022.
BUSINESS
Race for TPG-backed Sai Life Sciences: Bain Capital likely lead suitor at $800 mn valuation
In 2018, TPG Capital invested around $135 million in Sai Life Sciences and the private equity firm currently holds a 43.4 percent stake
BUSINESS
JM Financial's Amit Ramchandani joins Motilal Oswal as CEO of i-banking
Ramchandani, a dealmaker with 2 decades of experience , has previously worked at IDFC First Bank, ICICI Securities and SBI Capital
BUSINESS
IPO-bound SK Finance raises Rs 1,328 cr in fresh round led by Norwest, TPG, MO Alts, Baring PE
NBFC SK Finance has a diversified product portfolio, consisting of loan offerings in the categories of cars, commercial vehicles, tractors and two-wheelers, along with secured business loans.
BUSINESS
JM Financial confirms exit of Joint MD and veteran dealmaker Atul Mehra
Atul Mehra is likely to join rival Axis Capital as its MD and CEO, sources had told Moneycontrol.
BUSINESS
JM Financial's Atul Mehra steps down, may head to Axis Capital as MD & CEO
Mehra began his career as an analyst at JM Financial in 1991 and is departing after a long tenure of more than 32 years
BUSINESS
India's top adult diaper maker Nobel Hygiene, backed by Quadria Capital, weighs stake sale
In Jun 2021, Quadria Capital announced the acquisition of a significant stake in Nobel Hygiene and became the largest minority shareholder. As part of the transaction, Nobel Hygiene raised fresh capital and gave a complete exit to CLSA Capital Partners, Access India Fund and its co-investors
BUSINESS
Tata Consumer nears buyout of Fabindia backed Organic India
In Organic India, Fab India holds 64 percent stake, 17 percent is with the founder promoters, 15 percent with Premji Invest, and the rest with employees and the ESPS trust.
BUSINESS
Exclusive: Post JSW Infra listing, now JSW Cement picks bankers and kicks off mega Rs 6,000-cr IPO
If JSW Cement's listing plans materialise, it would be the biggest IPO in the sector since the Rs 5,000 crore initial share sale of Nirma group-backed Nuvoco Vistas in August 2021.
BUSINESS
Aurobindo Pharma now weighs mega IPO of Eugia Pharma Specialities to raise around Rs 4,500 crore
In May 2021, in a move to improve operational efficiency, Aurobindo Pharma had approved the transfer of its injectable assets into a subsidiary called Eugia Pharma Specialities Limited for “greater focus, attention and specialization” and also to “augment fund-raise and strategic tie-ups in future through joint ventures etc"
BUSINESS
Chirag Agrawal takes over as Deloitte South Asia's new head of corporate finance
Agrawal, an alumnus of London School of Economics and Politics Science , has over two decades of investment banking experience
BUSINESS
American Tower Corp inks $2.5-bn deal to sell India unit to Brookfield-backed DIT
Since launching operations in India in 2007, ATC India’s portfolio has expanded to approximately 75,000 towers. The firm has a national presence and services all major telecom service providers in the country
BUSINESS
Twist in mega $2 billion plus ATC India sale: Canada's Brookfield now lead suitor
Since launching operations in India in 2007, ATC India’s portfolio has expanded to approximately 75,000 towers. The firm has a national presence and services all major telecom service providers in the country
BUSINESS
Warburg Pincus-backed NBFC Avanse taps 6 bankers to launch Rs 4,000-cr IPO
In March 2019, Warburg Pincus entered into definitive agreements to acquire an 80 percent equity stake in Avanse Financial Services held by Wadhavan Global Capital group
BUSINESS
Issuers confident, IPO launches likely even during election phase, say i- bankers
Top investment bankers caught up with Moneycontrol for an incisive chat on the key capital market deal trends for 2024. Here are the edited excerpts from the interview
BUSINESS
Ola Electric files DRHP with Sebi; first ever by an Indian EV firm
On May 25, Moneycontrol was the first to report that Ola Electric has roped in Kotak Mahindra Capital and Goldman Sachs for an IPO in early 2024.
BUSINESS
PE major Advent picks advisors for big-bang sales of Bharat Serum & Manjushree Technopak
Advent International, which had $95 billion in assets under management as of March 2023, focuses on investments in five core sectors: business and financial services, healthcare, industrial, retail, consumer and leisure, and technology
