BUSINESS
IPO-Bound Delhivery, Backed By Softbank, Tiger Global and Carlyle, Seals $200 mn Deal To Acquire Spoton Logistics
In August 2018, a consortium of Samaara Capital and Xponentia Fund Partners purchased Spoton Logistics for around Rs 550 crores. PE firm India Equity Partners completely exited the firm with this deal.
BUSINESS
Trend of omni-channel transactions like PharmEasy-Thyrocare here to stay, says ace dealmaker Sourav Mallik of Kotak
Sourav Mallik, who has over 25 years of experience in investment banking and has advised on marquee transactions like Tech Mahindra’s acquisition of Satyam, believes that the Zomato market debut has confirmed that investors have the maturity to understand and appreciate new age companies. His top sectoral picks for deal activity include the digital ecosystem, healthcare, consumer, specialty chemicals and financial services
BUSINESS
Blackstone, ICICI Group and BPCL backed Fino Payments Bank Files For Rs 1,300 cr IPO; first by a profitable fintech firm
Fino Payments Bank turned profitable in the fourth quarter of FY 20 and counts Airtel Payments Bank, Indian Post Payments Bank, Paytm Payment Bank, Jio Payments Bank & NSDL Payment Bank as its rivals.
BUSINESS
Freshly minted unicorn Droom in talks with JP Morgan, I-Sec, HSBC and JM Fin as it prepares for $300 million IPO
If its listing plans fructify, Droom would join rival Car Trade Tech which has received the SEBI nod for its Rs 2,000 crore IPO, the first ever in the highly competitive segment. Car Trade Tech is likely to launch its IPO shortly and on February 10, 2021, Moneycontrol first reported the Warbug Pincus and Temasek-backed firm’s listing plans.
BUSINESS
JSW Cement raises up to Rs 1,500 crore from PE firms Apollo Global Management, Synergy Metals Investments
This investment will help JSW Cement accelerate its capacity expansion from current 14 MTPA to 25 MTPA as it explores an initial public offer in the next two years
BUSINESS
Travel app ixigo in final stage talks to close pre-IPO round led by GIC, Info Edge, Malabar Investments, White Oak Capital, others
The proposed fund raise will be a mixture of primary and secondary issue of shares and will also include Orios Venture Partners, Bay Capital & Trifecta Capital. Travel app ixigo is currently backed by the likes of Sequoia Capital, Elevation Capital (formerly called SAIF Partners) and MakeMyTrip
BUSINESS
Exclusive | KFC, Pizza Hut & Costa Coffee Operator Devyani International May Launch IPO On 4th August; 3rd QSR Listing Post Burger King & Barbeque Nation
The listing plans of Devyani International were first reported by Moneycontrol on February 19, 2021. The firm, which is likely to list on 16th August, 2021 is an arm of diversified conglomerate RJ Corp, the largest bottler for Pepsi Co in India and it also counts Yum! Brands, the second-largest QSR (quick-service restaurant) company in the world, and Singapore’s Temasek as investors.
BUSINESS
Post Gland Pharma’s Record Listing, Macleod Pharmaceuticals Weighing Next Big-Bang IPO In Pharma Sector
Dr Rajendra Agarwal along with his brothers Girdhari Lal Bawri and Bandwari Lal Bawri started Mumbai based Macleods Pharmacuticals in 1986 with an aim to produce anti –TB medicines.
BUSINESS
Rahul Saraf elevated as new I-Banking head of Citi India
Prior to this promotion, Rahul Saraf was a Managing Director with coverage responsibility for Indian conglomerates and broader industrials and infrastructure segments. According to his LinkedIn profile, he has a total of 26 years of work experience, including 16 years with Citi
BUSINESS
Rakesh Jhunjhunwala, Westbridge & Madison Capital promoted Star Health Insurance files for IPO; poised to be first by a pure-play health insurance player
Star Health, the brainchild of V Jagannathan (who earlier headed United India Insurance) was founded in 2006 and provides health insurance, overseas mediclaim and personal accident policies. As of October 2020, the firm, a market leader in the standalone health insurance segment, had a 52 percent market share. In August 2018, Rakesh Jhunjhunwala along with Westbridge Capital and Madison Capital acquired 90 percent stake in the firm.
BUSINESS
Glenmark Pharma’s API arm Glenmark Life Sciences to launch IPO on July 27, raise around Rs 1,515 crore; listing likely on August 6
The move is being seen as a value-unlocking exercise in a niche segment which is fetching attractive valuations and will provide investors the option of betting on a pure play API business. Glenmark Pharma’s stock has risen by 15 per cent in the last 3 months.
BUSINESS
Blackstone seals deal to acquire majority stake in ed-tech firm Simplilearn
More than two million professionals globally have used Simplilearn to date.
BUSINESS
Blackstone to acquire majority stake in top upskilling ed-tech firm Simplilearn
Based in San Francisco and Bengaluru, Simplilearn is backed by Kalaari Capital, Helion Venture Partners and Mayfield Fund
BUSINESS
Universal Medicare-Kedaara Capital consortium emerges as the frontrunner to acquire Sanofi India’s select brands
According to a February 2021 report by Pharma Intelligence , as part of a global drive, Sanofi is looking to sell 150 OTC brands in a radical overhaul of its consumer healthcare operations
BUSINESS
Very bullish on e-commerce, digitisation; both have long runway in India and will see migration of new categories: Temasek
Temasek, the Singapore headquartered firm and one of the world’s biggest investors with a global portfolio valued at more than $280 billion, is betting big on India’s booming internet and digital ecosystem. The investment behemoth not only backs the current darling of D-street Zomato, but also the likes of Ola, CarTrade, Pine Labs, PolicyBazaar and Cult.fit
BUSINESS
After Pine Labs & Mobikwik, now Visa & Lightbox backed B2B payment solutions firm PayMate planning an IPO
The firm’s founder Ajay Adiseshann is a technology entrepreneur . Beyond Visa & Lightbox, the firm’s other investors include Recruit Strategic LLC, Mayfair 101, BCCL, Mayfield Fund, Kleiner Perkins Caufield & Byers & Sherpalo Ventures
BUSINESS
Sumitomo Mitsui to acquire Temasek India NBFC arm Fullerton India Credit Company
The deal is subject to regulatory approvals and according to sources has been struck for around $2 billion.
BUSINESS
Naspers-backed PayU in race to buy BillDesk; set to be 2nd largest Indian internet deal after Walmart-Flipkart acquisition
BillDesk’s processing network is used by India's largest banks and companies from telecom, insurance, utilities, financial services, education, entertainment and e-commerce businesses. PayU is a fintech company that provides payment technology to online merchants.
BUSINESS
Race for Mytrah’s renewable energy assets: Adani Group, ReNew Power, KKR, CPPIB, Ayana among early suitors
Mytrah Energy’s assets are spread across 17 wind farms and 21 ground monitored solar farms in 9 states. According to its website, the firm has the largest wind data bank in India, being the only independent power producer having a pan India presence of over 240 wind masts
BUSINESS
Paytm may file for $2.3 billion IPO after July 12 EGM; 7 I-banks finalised for issue targeting $24-25 billion valuation
If plans fructify, Paytm’s initial share sale would exceed Coal India’s offering, which raised Rs 15,000 crore in 2010 in the country’s largest IPO so far.
BUSINESS
Morgan Stanley may tap Kotak’s Shailendra Sabhnani to head real estate I-Banking vertical
Morgan Stanley’s earlier head of real estate ( India) S Sundareswaran has quit the firm to join real estate advisory firm Alta Capital and partner with ex-Blackstone executive Siddhartha Gupta
BUSINESS
Kaushal Shah to become new Head (ECM Origination) at Kotak Investment Banking as part of internal rejig
Shah, a chartered accountant and alumnus of Indian School Business, has been with Kotak Investment Banking for more than 16 years. Prior to that, he had a stint of a little more than 3 years at ICICI Securities in the M&A and equity capital markets teams
BUSINESS
IndiGo Picks Citi, JP Morgan, Morgan Stanley and BNP Paribas As I-Banks For Rs 3,000-Crore Fund Raise; May Launch QIP in August
IndiGo CEO Ronojoy Dutta said the airline has seen a sharp decline in revenues in March through May but is encouraged by the modest revenue improvements starting last week of May and continuing through June. The stock has risen by 7 percent in the last three months.
BUSINESS
Ahead Of IPO, Softbank Backed Delhivery In Talks To Acquire Rival Logistics Firm Spoton
In August 2018, a consortium of Samaara Capital and Xponentia Fund Partners purchased Spoton Logistics for around Rs 550 crores. PE firm India Equity Partners completely exited the firm with this deal. Recently another unicorn, namely Pharmeasy acquired a majority stake in listed diagnostics player Thyrocare for Rs 4,546 crores ahead of a proposed IPO.
