BUSINESS
Corporate Crossings | Rahul Jain to lead India office of Boston Consulting Group
Jain who steers BCG's Industrial Goods practice across the Asia Pacific region is set to replace Alpesh Shah who has led BCG's India office since September 2018.
BUSINESS
Adani Capital in fund raise mode; Eyes Rs 1,000 cr-Rs 1,500 cr for growth capital
Adani Enterprises, the Adani group flagship, plans to raise Rs 12,500 crore, while power transmission venture Adani Transmission is aiming for Rs 8,500 crore, the companies said in recent stock exchange filings.
BUSINESS
Paras Healthcare: PE firm Creador revives plans to exit, appoints o3 Capital
Paras Healthcare has a network of six multi-super specialty hospitals in Northern India that operate 1,500 beds, according to its website. The hospital chain aims to be the largest private healthcare provider in North India by 2031 with 9000+ beds under its network.
BUSINESS
Ola Electric taps Kotak, Goldman Sachs for IPO, likely to hit market in early 2024
Kotak Mahindra Capital and Goldman Sachs are currently in advanced talks to be selected as financial advisors, with Kotak closely collaborating with the startup to determine the IPO's structure
BUSINESS
Federal Bank picks Kotak, Axis, JP Morgan & BofA for up to Rs 4,000 crore fund raise
The Kochi, Kerala headquartered bank is backed by the World Bank's investment arm IFC ( International Finance Corporation). In July 2021, Federal Bank saw a Rs 916 crore equity infusion by IFC which picked up a 4.99 percent stake.
COMPANIES
Polyplex Corporation to sell 24% stake to AGP Holdco Limited for Rs 1379 crore
According to the shareholding pattern of Polyplex, the promoters hold a 50.97 percent stake. AGP Holdco has the right to increase its shareholding at a later stage.
BUSINESS
Westbridge and Nexus-backed India Shelter Finance eyes Rs 2,000-cr IPO; picks three I-bankers
The firm has operations across 180 plus branches in 15 states in India, offering affordable housing and small ticket loans against property
BUSINESS
Race for Glenmark Life Sciences: Blackstone, KKR, BPEA EQT, PAG and Nirma Group likely suitors
Glenmark Pharma, the parent company that holds 82.85% stake in Glenmark Life, is looking to reduce its debt burden via the stake sale process, say sources
BUSINESS
Aditya Birla Capital taps Jefferies, I-Sec, BofA Securities & Axis Capital for CY23 QIP
In September 2019, Aditya Birla Capital had raised Rs 2,100 cr through preferential allotment to investors like Advent International, Premji Invest and promoter group entities.
BUSINESS
MC Exclusive | Race for HDFC Credila: BPEA EQT, Chrys Capital & Faering Capital consortium in the lead
Set up in 2006, HDFC Credila is India's first dedicated education loan company. HDFC acquired control of the firm through two stake buys in 2009 and 2019 from DSP Merrill Lynch Capital and the Bohora family
BUSINESS
Go First proposes insolvency professional Abhilash Lal's name in bankruptcy plea
Incidentally, back in 2015, Jet Airways had appointed Alvarez & Marsal to revive the operations of the firm post the sale of a 24 per cent stake to Etihad Airways.
BUSINESS
InCred Capital, backed by KKR, ADIA, picks senior i-bankers to lead ECM foray
In July 2022, InCred and KKR announced the conclusion of the strategic merger of InCred Financial Services Limited (InCred Finance) and KKR India Financial Services Limited (KIFS).
BUSINESS
MC Interview: Temasek’s Ravi Lambah on its healthcare ambition after Manipal acquisition
The Singapore-based investment giant recently sealed the biggest- ever private equity deal in the Indian healthcare sector by pumping in more than $2 billion in Manipal Hospitals. It is also invested in the listed firm Global Health.
BUSINESS
Healthcare, consumer, tech sectors top India bets for KKR, says Joseph Bae
Regarding the firm's majority stake in Avendus Capital (an investment made in 2015) , Trehan clarified no formal sale process had been launched but at the "right time" , KKR India would be able to offer a stake to someone to take the business forward.
BUSINESS
EY India assures no plans to cut down on manpower after US arm lays off 3,000
Other major consulting and accounting firms have also opted for downsizing in recent times. McKinsey is planning to cut 2,000 jobs after hiring while KPMG too announced earlier this year that it will lay off 2% of its workforce – or about 700 employees – in the United States.
BUSINESS
Temasek's Sheares Healthcare targets 90% holding in Medica Synergie hospital chain
Sheares holds an 18 percent stake in Manipal Hospitals and also has exposure to Global Health, the listed operator of Medanta Hospitals
BUSINESS
Fortis Healthcare arm SRL Diagnostics may tap Kotak, I-Sec and Morgan Stanley for IPO launch
The promoter group holds 57.68 percent stake while the bloc of private equity investors holds 31.52 percent in SRL Diagnostics. The investors include the likes of NY Jacob Ballas and the World Bank's development finance arm IFC
BUSINESS
Temasek’s entry valuation reflects long-term potential of Indian healthcare: Dr Ranjan Pai of Manipal Group
Temasek has raised its stake and turned the controlling shareholder in Manipal Hospitals by shelling out Rs 16,000 crore in a mega transaction valuing the top pan-India hospital chain at Rs 40,000-42,000 crore
BUSINESS
Temasek-owned Sheares seals the deal to pick up majority stake in Manipal Hospitals
Prior to the deal, Sheares Healthcare India, an existing shareholder in Manipal Health Enterprises, held around 18 percent stake. Sheares manages a portfolio of healthcare delivery assets for Singapore-headquartered investment major Temasek.
BUSINESS
Ashish Jhaveri of Barclays may join Jefferies as new India i-banking spearhead
Ashish, currently the head of M&A at Barclays, is likely to join Jefferies over the next few months, said an industry source.
BUSINESS
RK Swamy draws up listing pitch, appoints i-bankers for public issue
In July 2022, RK Swamy and BBDO (a leading network of the global Omnicon group) announced parting of ways after an alliance that lasted 37 long years. Under a new agreement, RK Swamy bought out BBDO’s stake in the joint entity and BBDO bought out RK Swamy’s stake in BBDO India.
BUSINESS
Chrys Capital-backed Mankind Pharma may float Rs 4,200-4,700 crore IPO in April
In 2015, Capital International had purchased an 11 percent stake in Mankind Pharma from ChrysCapital for $200 million. In April 2018, a ChrysCapital-led consortium, which included GIC and CPPIB, made a stunning comeback and bought a 10 percent stake again for around $350 million.
BUSINESS
Nirma Group makes fresh bet on pharma, buys out CDMO player Stericon
Bangalore-based Stericon Pharma Private Limited, a contract development manufacturing organisation, was backed by private equity firm InvAscent, which has exited via the deal
BUSINESS
Samhi Hotels, backed by Goldman Sachs, Equity International, files draft IPO papers again
Founded by Ashish Jakhanwala and Manav Thadani in 2010, Samhi Hotels had first filed for an IPO in September 2019 but later dropped the plans due to market conditions and the impact of the Covid-19 pandemic.
