BUSINESS
Softbank set to sell Zomato stake worth Rs 1,000 crore via fresh block deal
The year 2023 has been an active year for block deals, and according to data from Prime Database, PE and venture capital firms exited investments worth Rs 57,338 cr through block deals between January and August as compared to Rs 41,051 crore during the same period last year
BUSINESS
Hero MotoCorp arm Hero FinCorp picks 8 i-banks for mega IPO of around Rs 4,000 crore
Hero MotoCorp owns around 40 per cent stake in Hero Fincorp, the promoters, the Munjal family hold around 35-39 per cent while the balance is held by private equity investors like Apollo Global, ChrysCapital, Credit Suisse and some dealers of HeroMoto Corp.
BUSINESS
Niva Bupa to raise Rs 800 crore from Motilal Oswal Alternate Investment, Temasek & Paragon Partners
Four years after picking up a majority stake from Max in Max Bupa Health Insurance (now Niva Bupa Health Insurance), homegrown private equity firm True North struck its biggest deal on September 30 by ceding control to JV partner Bupa.
BUSINESS
Race for Goldman Sachs-backed Good Host Spaces: Alta Capital in lead to acquire India's largest student housing platform
In September 2017, Goldman Sachs picked up a significant majority stake of 75 percent in Good Host Spaces via a combination of primary and secondary transactions while private equity major Warburg Pincus purchased nearly 25 percent in April 2021 by giving an exit to HDFC Ltd.
BUSINESS
SoftBank plans to sell part stake in PB Fintech in fresh block deal of around $105 mn
In December 2022, the Japanese investor sold 5.1 per cent stake in PB Fintech
BUSINESS
Manappuram Finance arm Asirvad Micro Finance files for Rs 1,500 cr IPO
In February 2015, the Kerala-based gold loan provider acquired a significant majority stake in the Chennai-based microfinance firm as part of a diversification strategy
BUSINESS
Ashish Jhaveri joins Jefferies as head of i-banking, India
Over the past 2 years, Jefferies has bulked up its India investment banking team with other key hires in the equity capital market and tech teams.
BUSINESS
Niva Bupa grew 4x in 4 years; may attempt IPO in 15 months, says True North's Divya Sehgal
Sehgal believes private equity interest will continue in the health insurance segment. In the financial services space, True North also backs NBFC FedFina and Fincare Small Finance Bank
BUSINESS
Bajaj Finance plans mega $800mn-$1bn fund raise; engages JM Fin, Citi, Morgan Stanley & BofA Securities
On August 5, Moneycontrol was the first to report that another NBFC, Murugappa Group-backed Cholamandalam Investment and Finance Co , had shortlisted advisors to raise upto Rs 4,000 crore via a QIP which was likely to launch in September
BUSINESS
Quadria Capital-backed Akums, India's largest contract manufacturer of drugs, kicks off 2024 IPO plans
Private equity firm Quadria Capital recently made a complete exit from its portfolio company Concord Biotech which made its public debut last month
BUSINESS
Nirma makes big pharma push; acquires 75% in Glenmark Life Sciences for Rs 5,651 cr
With this acquisition, Nirma group founded by Dr Karsanbhai Patel has forayed into the API segment. Glenmark Pharma, the parent of Glenmark Life Sciences will use the deal proceeds towards repayment of debt
BUSINESS
ChrysCapital & Peak XV backed Awfis picks 3 i-banks for 2024 IPO; first ever by a co-working space startup
Chennai based Awfis competes with the likes of WeWork, Smartworks and Tablespace. The segment has seen a sharp recovery post Covid-19 with a bulk of the demand coming from the IT sector.
BUSINESS
Shell weighs strategic review of Sprng Energy in India post $1.5 billion buyout
Set up in 2017 by sustainable infrastructure investor Actis, Pune based Sprng Energy supplies solar and wind power to electricity distribution companies in India.
BUSINESS
Veteran i-banker Ravi Kapoor turns entrepreneurial with deal advisory and investment firm SACS Partners
Kapoor has more than 35 years of banking and capital markets experience and has led several marquee deals across equity capital markets, debt capital markets, mergers & acquisitions and acquisition financing.
BUSINESS
MC Interview | ChrysCapital's Kunal Shroff sees bigger trend of larger stake sales and control deals
ChrysCapital has struck more than 100 deals in India, raised $5 billion over nine funds and returned $6.5 billion to investors. The leading private equity firm backs companies ranging from Lenskart and Bandhan MF to Mankind Pharma and GMM Pfaudler
BUSINESS
Why is ChrysCapital excited about the block deal boom?
2023 has been an active year for block deals and according to data from Prime Database, PE and venture capital firms exited investments worth Rs 57,338 crores through block deals between January and August as compared to Rs 41,051 crores during same period last year
BUSINESS
Swiggy, PayU hold I-banker pitches and gear up for mega 2024 IPOs
In its last announced fund raise, Swiggy mopped up $700 mn in January 2022 at a valuation of $10.7 bn. PayU had sealed a deal with Billdesk to acquire the latter for $4.7 billion in August 2021. However, in a sudden twist, the company terminated the mega deal in October 2022.
BUSINESS
Veteran Citi dealmaker Ravi Kapoor to retire & pursue entrepreneurial opportunities; K Balasubramanian to take over
Kapoor has more than 35 years of banking and capital markets experience and has led several marquee deals across equity capital markets, debt capital markets, mergers & acquisitions and acquisition financing
BUSINESS
MC Interview: Sun Pharma's Dilip Shanghvi betting on specialty business to drive growth
The Sun Pharma founder says it for his children, Aalok and Vidhi, to decide if they want to be owner-managers, working managers or adopt a hands-off approach
BUSINESS
Gangwal family launches mega $450mn block deal in Interglobe Aviation, biggest yet
Rakesh Gangwal stepped down from the board of Interglobe Aviation in February 2022 and the family holds a 29.72 per cent stake as per the latest stock exchange disclosures
BUSINESS
RK Swamy files for IPO, first by an integrated marketing services group
The IPO comprises a fresh issue of aggregating up to Rs 215 crore and an offer for sale of up to 8,700,000 equity shares by selling shareholders.
BUSINESS
Blackstone along with LPs submits non-binding bid to acquire control in Cipla
The private equity behemoth has a war chest of $11 billion to target companies for deals in Asia and in January 2022, closed a second Asian-focused private equity fund
BUSINESS
Quest Global stake buy: ER&D a great way to play multiple themes on innovation across industries, says Carlyle India’s Amit Jain
In India, Carlyle backs the likes of Hexaware, VLCC, Piramal Pharma, Sequent Scientific and tile and bathware company, Varmora Granito.
BUSINESS
Carlyle picks up significant minority stake in Quest Global; Bain Capital, Advent International to exit
This is Carlyle's second deal announcement in India in 2023 after it picked up a majority stake in skincare and beauty platform VLCC in January
