BUSINESS
Lodha Group fires up IPO plans as real estate bounces back, may file papers with Sebi by March
Investment banks Axis Capital and JP Morgan have been roped in as advisors for the proposed listing. The Mumbai-based developer made two previous listing attempts in 2009 and 2018.
BUSINESS
Winds of change at PwC India; new Chairman Sanjeev Krishan announces his A-team across verticals
Arnab Basu will take over as the new advisory leader, Sanjay Tolia is the tax and regulatory services leader, Dinesh Arora takes over as Deals Leader, a role held by Sanjeev Krishan before he became the chairman, and Vivek Prasad becomes the markets leader.
BUSINESS
New Year fireworks: Future Group writes to Amazon, says firm has ‘illegally exercised its rights’
Amazon is also not a party to the Future Retail shareholders agreement and its conduct is smacks of mala fide, with an intent to obstruct the merger with RIL, says the letter.
BUSINESS
Hope for increased healthcare spending, recapitalisation support for ailing firms in Budget 2021: PwC India Chairman Sanjeev Krishan
Big 4 firm PwC which provides audit, tax and advisory services has a new man at the helm of affairs in India. And the chosen one is a soft-spoken, ever-smiling dealmaker. Sanjeev Krishan, who has risen from the ranks, takes charge of the firm, as the corporate world looks to rise from the scars of the pandemic and trudge towards a revival.
BUSINESS
Groupo Bimbo strikes deal to buy Everstone Capital backed Modern Foods
Acquisition of the popular bread and bakery brand is Groupo Bimbo’s second deal in India in the segment. HUL sold Modern Foods to Everstone Capital in 2015.
BUSINESS
Exclusive | Jubilant Life Sciences looking to tap PE funds for pharma business, raise $500 million
On October 25, 2019, the board of Jubilant Life Sciences announced a restructuring of the company into two separate entities -- one handling pharmaceuticals operations and the other its life science ingredient business.
BUSINESS
Exclusive | KFC, Pizza Hut operator Sapphire Foods eyes 2021 IPO; backed by Goldman Sachs, Samara Capital
‘The Burger King wave should work well for Sapphire Foods in terms of valuations and market appetite. As of now, it is planning to file the DRHP with Sebi in Q1FY22’
BUSINESS
DHFL race: Piramal holds edge over Oaktree due to higher upfront cash, insurance tangle for foreign firms
Piramal Enterprises offers at least Rs 1,000 crore higher upfront payment than US asset manager Oaktree for DHFL in fourth round of auction. India’s FDI laws complicate Oaktree bid as DHFL has an insurance business.
BUSINESS
Blackstone-backed Embassy Office Parks approves launch of $500-$600mn QIP; first ever by an REIT in India
Embassy Office Parks REIT is looking to raise between $500 million to $600 million to fund the recent acquisition of additional office assets to bolster the existing portfolio, according to sources
BUSINESS
Explained | Why common ownership in companies by private equity funds has caught the fancy of CCI
The Competition Commission of India (CCI) is keeping a close eye raft of changes in the world of mergers and acquisitions.What does this mean for PE funds?
INTERVIEW
Harshad Mehta is a part of my growing up years: ‘Scam 1992’ director Hansal Mehta
National award-winning director Hansal Mehta on the making of the popular show, the anonymous old-timers who helped him and his team, the refreshing casting strategy, and more.
BUSINESS
A ‘Bull’ish chat with Pratik Gandhi, the actor who brought stock market scamster Harshad Mehta to life
The Surat boy had been a struggling actor in Mumbai for long but with a breakout performance as the protagonist in 'Scam 1992: The Harshad Mehta Story', Pratik Gandhi has emerged as an artiste to watch out for.
BUSINESS
Gland Pharma gets Sebi approval for Rs 6,000-crore IPO, set for first listing of an Indian firm with a Chinese parent
The IPO is a mixture of primary and secondary issue of shares with both China’s Fosun group and the founders of Gland Pharma due to dilute shares. Gland Pharma may look to launch the IPO in November 2020
BUSINESS
McDonald's and Burger King supplier Mrs Bectors Foods files for a Rs 550 crore IPO
The proceeds of the Mrs Bectors Food Specialities' IPO will be used for growth capital linked to the firm’s manufacturing unit at Rajpura, Punjab and for general corporate purposes, the company said in its filing with the regulator.
BUSINESS
Optimistic of upswing in hospitality by H12021; M&A options on table for larger hotel chains: Vikram Oberoi
EIH Ltd, which runs hotels and resorts under the Oberoi brand, drew a strong response for its recent rights issue. The issue was subscribed 160 percent. EIH, which has struck a long-term strategic alliance with Mandarin Oriental, a key player in the Far East , is betting on a turnaround in the bruised hospitality segment by H1 2021 once vaccines are readily available. With India’s busiest travel season round the corner, Moneycontrol’s Ashwin Mohan caught up exclusively with Vikram Oberoi, Managing Director and CEO of the Oberoi Group for a free-wheeling chat on consolidation in the sector, ‘revenge tourism,’ pick-up in leisure travel and much more.
BUSINESS
Voting on Jet Airways' bids extended to tomorrow, say sources
Some of the lenders have asked for more time. Voting was to end by 6 pm on October 16
BUSINESS
Blackstone-Panchshil Realty JV in early-stage talks for REIT IPO
If the plan fructifies, this would be the third REIT IPO in India backed by Blackstone, after Embassy Office Parks and Mindspace.
BUSINESS
PwC India Deals Leader Sanjeev Krishan elevated as chairman of Big 4 firm
Sanjeev Krishan has been with the organisation for nearly three decades and joined the firm in 1991 as an articled trainee. He became a partner at PwC India in 2006.
BUSINESS
Will the government challenge Vodafone tax arbitration verdict? Delhi HC wants answer by November 7
The government’s stance will have huge implications — not just on other international arbitration cases involving British oil energy explorer Cairn Energy Plc and mining major Vedanta Resources but also on the India outlook of global investors and MNCs batting for tax certainty.
BUSINESS
Homegrown PE fund ChrysCapital exploring stake sale in GVK Biosciences
ChrysCapital entered the firm in 2015 when it acquired the stake held by Sequoia Capital. As of March 2020, the private equity fund held a 16.77 percent stake.
BUSINESS
SBI appoints Charanjit Attra as CFO, rare lateral hire from private sector for C-suite position
This is a rare lateral hire from the private sector by SBI for a C-suite position. In the past, it has relied on its experienced talent pool of top management
BUSINESS
Exclusive | Goldman Sachs Private Equity in talks to buy minority stake in IPO-bound Biocon Biologics
If the deal — which may value the firm in excess of $3.5 billion — fructifies, it would mark the third successive investment in 2020 for Kiran Mazumdar Shaw-led Biocon Biologics
BUSINESS
Jet Airways insolvency: Risk assessment report throws up 'legal issue' with FSTC-Imperial bid
The legal issue pertains to the provision of Insolvency and Bankrupcty Code. But it's too early to say if the development will impede the insolvency process.
BUSINESS
LVB Bank: Following AGM drama, RBI pushes for an early merger
Pressure mounts on Clix Group and Lakshmi Vilas Bank to seal merger quickly. RBI concerned about the situation at LVB after the ouster of most directors from the Board by shareholders last week. The bank is currently run by a three-member committee of independent directors. If the Clix deal fails, the regulator may look at other options
