BUSINESS
Cholamandalam Investment and Finance may launch Rs 4,000 cr QIP in September; picks 3 investment banks
As part of its Q1 earnings, Cholamandalam Investment and Finance Co reported a 28 percent year-on-year rise in net profit at Rs 726 crore versus a net profit of Rs 566 crore in the year-ago period.
BUSINESS
Sterlite Power in talks with GIC for $300 mn fund infusion; weighs demerger of solutions biz
Sterlite Power is the sponsor of India's first power sector InvIT, India Grid Trust (IndiGrid) which is listed. In September 2022, the firm announced that it had withdrawn its DRHP and deferred its listing plans due to unfavourable market conditions.
BUSINESS
BPCL picks I-Sec, HSBC, BNP Paribas & SBI Cap for Rs 18,000 crore rights issue
Budget 2023 had allocated Rs 30,000 crore for capital support to state-run Oil Marketing Companies (OMCs) like BPCL, IOCL and HPCL. On July 7, the board of IOC also approved a capital raise via a rights issue not exceeding Rs 22,000 crores.
BUSINESS
'Will continue to focus on control opportunities in Indian healthcare', says BPEA EQT's Ashish Agrawal
On July 22, Moneycontrol was the first to report that BPEA EQT had the edge over others in the race for Indira IVF.
BUSINESS
BPEA EQT to acquire majority stake in Indira IVF: Newsbreak confirmed
Indira IVF was founded by Dr. Ajay Murdia in 1988 and has since then scaled from a single clinic to a nation-wide network spanning 116 centers across 20 states in India
BUSINESS
Federal Bank's NBFC arm FedFina refiles draft papers for IPO
FedFina had filed a draft red herring prospectus (DRHP) with the market regulator last year for an IPO. But the plans were aborted due to unfavourable market conditions
BUSINESS
Concord Biotech, backed by Rakesh Jhunjhunwala's firm, targets August IPO launch at up to $1 bn valuation
According to the draft papers, healthcare-focused Asian private equity firm Quadria Capital also picked up a 20 percent stake in Concord Biotech in 2016
BUSINESS
Manappuram Finance arm Asirvad MF prepares for Rs 1,500-crore IPO; picks JM Financial, Nomura & Kotak
The firm's microfinance loans are curated for women from poor and lower-income households and disbursed via its branch network spread across 22 States and 3 Union Territories as on March 31, 2023.
BUSINESS
Bain Capital seals deal to acquire Adani Capital; Gaurav Gupta to stay on as MD
Adani Capital was founded in 2017 to democratise access to affordable, convenient lending solutions and support the next generation of MSMEs and entrepreneurs in India
BUSINESS
$1 billion race for Indira IVF: BPEA EQT may have edge; Blackstone, others also in fray
In June, a consortium of BPEA EQT and Chrys Capital sealed the buyout of top education loan provider HDFC Credila for $1.3 billion in India's biggest-ever private equity deal in the financial services segment
BUSINESS
Former SBI CFO Charanjit Attra joins Jio Financial Services as COO
On August 31, 2020, Moneycontrol was the first to report that Attra, an EY Partner, was headed to SBI as CFO, in a rare lateral hire from the private sector by the PSU lender
BUSINESS
MC Interview: Temasek's mega India plan to pump in up to $10 bn over three years
The firm is looking to deepen its presence in India across financial services, tech, consumer and healthcare and will also explore new areas in energy transition and decarbonisation
BUSINESS
NSDL files draft papers to float public issue; IDBI Bank, NSE, SBI to dilute holdings
If the listing plans fructify, NSDL would become the second depository services company to be listed on the domestic bourses, post the bumper market debut of peer CDSL in 2017
BUSINESS
Aster DM Healthcare confirms talks with investors, including Fajr Capital for Middle East business rejig
On September 20, 2022, Moneycontrol was the first to report that Aster DM had initiated a restructuring exercise to unlock value for shareholders and was tapping Middle East funds for a stake sale in the carved out Middle East business.
BUSINESS
TVS Motor applies brakes on $300 mn-$350 mn EV fund raise; to revisit deal in 2024
The share price of TVS Motor has risen by nearly 19 percent in the last three months and the firm, which makes the battery powered scooter iQube, recently announced a strategic partnership with food delivery platform Zomato, as the former looks to deploy 10,000 electric scooters over the next 2 years.
BUSINESS
Investcorp-backed NDR Warehousing files draft InvIT papers to raise around Rs 1,100 crore; first by a warehousing co
On April 3, IRB Infrastructure Trust (road and highway assets) became the first privately placed InvIT to get listed on the NSE. Other InvITs are present in segments like power transmission.
BUSINESS
SP Group-backed Afcons taps 5 i-banks for up to Rs 8,000-crore IPO
Sterling and Wilson Solar was the last company from the Shapoorji Pallonji Group to make a debut on the domestic bourses back in August 2019.
BUSINESS
Lupin may spin off API business as part of business recast to unlock value
Glenmark Pharma had undergone a similar exercise in May 2019, when it spun off its API business into a new entity called Glenmark Life Sciences, which made its public market debut in August 2021
BUSINESS
Lenders approve Rs 400 crore funding for Go First; DGCA's decision awaited
On May 2, Go First announced filing of voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT), Delhi following a severe cash crunch
BUSINESS
'Open to M&A opportunities that add to HDFC Credila's capabilities' — BPEA EQT's Jimmy Mahtani
Following EQT's acquisition of Baring PE Asia in 2022, BPEA was integrated with the EQT platform and is now known as BPEA EQT, operating as EQT's private equity business line alongside EQT's infrastructure and real estate businesses in Asia. It also holds a minority stake in private sector lender RBL Bank
BUSINESS
Infra.Market in talks to raise $150 million from Varde Partners
In 2022, Infra.Market bought a concrete manufacturing company, RDC Concrete, from private equity firm Truenorth for Rs 700 crore. It also bought a strategic stake in listed entity Shalimar Paints, making a foray into industrial and decorative paints.
BUSINESS
HDFC signs definitive pact with BPEA EQT-led consortium for sale of HDFC Credila for Rs 9,060 cr
On May 22, Moneycontrol was the first to report that a Baring PE EQT-led consortium was the frontrunner to pick up a majority stake of around 90 percent in HDFC Credila.
BUSINESS
Amit Thawani to lead Nomura India i-banking, Utpal Oza steps down
Incidentally, Oza, who has had a stint of over 25 years as a dealmaker was also a founding member of Nomura when it set up shop in India back in 2006.
BUSINESS
Barclays Technology I-Banking head Praveer Garg set to join Jefferies
On April 6, 2023, Moneycontrol had reported that Ashish Jhaveri, Head of M&A at Barclays Bank India was likely to join Jefferies as its new head of I-banking (India).
