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Ashwin Mohan

Deputy Editor - Deals

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Canada's Ontario Teachers may invest around $150 mn in Kogta Financial; Creador, Morgan Stanley PE to partially exit

BUSINESS

Canada's Ontario Teachers may invest around $150 mn in Kogta Financial; Creador, Morgan Stanley PE to partially exit

Ontario Teachers is looking to pick up a stake of around 24 percent in the NBFC, multiple people in the know told Moneycontrol

Prestige Estates taps Kotak, JPM, JM Fin and CLSA for Rs 5,000-crore QIP; launch likely in July-Aug

BUSINESS

Prestige Estates taps Kotak, JPM, JM Fin and CLSA for Rs 5,000-crore QIP; launch likely in July-Aug

In April, Prestige Group announced that it had achieved a record-breaking sales milestone of Rs 21,040 crore for FY24

Hyundai effect? Italian auto component maker Carraro Group picks 3 i-bankers, kickstarts India IPO prep

BUSINESS

Hyundai effect? Italian auto component maker Carraro Group picks 3 i-bankers, kickstarts India IPO prep

Carraro's presence in India dates back to 1997, when a JV was signed with Escorts Ltd, leading to the development of a project to establish a manufacturing centre in the Ranjangaon (Pune) area

Warburg-backed student lender Avanse files for Rs 3,500-crore IPO

BUSINESS

Warburg-backed student lender Avanse files for Rs 3,500-crore IPO

The IPO consists of a fresh issue of Rs 1,000 crore and an offer for sale of up to Rs 2,500 crore.

Pratik Loonker joins Axis Capital as Head of ECM and Co-Head Financial Sponsors; two more MDs also onboard

BUSINESS

Pratik Loonker joins Axis Capital as Head of ECM and Co-Head Financial Sponsors; two more MDs also onboard

The appointments come as veteran dealmaker Atul Mehra looks to strengthen the deal team since he took charge as the MD & CEO of Axis Capital on April 1

Aster DM Healthcare block deal: PE firm Olympus planning $100-mn stake sale with upsize option

BUSINESS

Aster DM Healthcare block deal: PE firm Olympus planning $100-mn stake sale with upsize option

The block deal has been launched with an upsize option of an additional 5 percent stake. Based on demand, this could potentially be a $200-million clean up trade with Olympus selling its entire balance 10.1 percent stake

Hyundai Motor India files draft papers with Sebi for record IPO of around $3 billion

BUSINESS

Hyundai Motor India files draft papers with Sebi for record IPO of around $3 billion

Hyundai Motor India Limited was India's second largest carmaker after Maruti Suzuki in FY24 in terms of passenger sales volumes. The firm ended FY23 with revenue of Rs 60,000 crore and profits of Rs 4,653 crore, the highest amongst the non-listed car manufacturers

Hyundai Motor India to shortly file for country’s largest IPO, aiming for $3 billion with valuation target of $18-20 billion

BUSINESS

Hyundai Motor India to shortly file for country’s largest IPO, aiming for $3 billion with valuation target of $18-20 billion

Hyundai Motor India Limited was India's second largest carmaker after Maruti Suzuki in FY24 in terms of passenger sales volumes. The firm ended FY23 with revenue of Rs 60,000 crore and profits of Rs 4,653 crore, the highest amongst the non-listed car manufacturers

Bain Capital planning to exit L&T Finance and sell balance stake via block deal

BUSINESS

Bain Capital planning to exit L&T Finance and sell balance stake via block deal

The floor price for the block deal hasa been fixed at Rs 169.17 per share, a 0.85 percent discount to the last closing price of Rs 170.62 per share

IndiGo block deal: Rahul Bhatia promoter entity plans to sell around 2% stake worth $394 mn

BUSINESS

IndiGo block deal: Rahul Bhatia promoter entity plans to sell around 2% stake worth $394 mn

"This is the first time in many years that he is looking to unlock value and pocket some returns," said one of the persons to Moneycontrol on the condition of anonymity

IRB Infra block deal: Cintra looks to sell around 5% stake for $228 mn

BUSINESS

IRB Infra block deal: Cintra looks to sell around 5% stake for $228 mn

"The block deal has been launched and the floor price is at a 10.2 per cent discount to the closing price of IRB Infra on June 10, " one of the persons said.

Bajaj Finance arm Bajaj Housing Finance files draft papers for upto Rs 7,000 crore IPO

BUSINESS

Bajaj Finance arm Bajaj Housing Finance files draft papers for upto Rs 7,000 crore IPO

The proposed mega listing marks the return of the Bajaj group to the public market after several years.

Deal street momentum to continue despite election surprise, say dealmakers

BUSINESS

Deal street momentum to continue despite election surprise, say dealmakers

Since January 1, 31 firms have listed on the domestic bourses and raised Rs 45,774 crore, according to data by Prime Database. The year has also seen big-bang M&A action with the $8.5 billion RIL-Disney merger and the $2.5-billion sale of American Tower Corp's (ATC) India unit to Brookfield-backed DIT

Bajaj Finance arm Bajaj HF approves IPO; fresh issue of up to Rs 4,000-cr plus OFS

BUSINESS

Bajaj Finance arm Bajaj HF approves IPO; fresh issue of up to Rs 4,000-cr plus OFS

The proposed mega listing marks the return of the Bajaj group to the public market after several years

Temasek and MOPE-backed Molbio Diagnostics kickstarts IPO prep, aims Rs 22,000-24,000 cr valuation

BUSINESS

Temasek and MOPE-backed Molbio Diagnostics kickstarts IPO prep, aims Rs 22,000-24,000 cr valuation

Molbio Diagnostics, which is known for its molecular diagnostics platform, became Goa's first startup to hit unicorn status in September 2022

Emami Group weighs strategic options for pharmacy retail chain Frank Ross

BUSINESS

Emami Group weighs strategic options for pharmacy retail chain Frank Ross

The stock price of Emami Ltd, the flagship company of the Emami Group, hit a 52-week high during trading hours on May 30 post a healthy set of Q4 earnings and positive business outlook

LG Electronics India eyes IPO after Hyundai’s move; no final decision yet

BUSINESS

LG Electronics India eyes IPO after Hyundai’s move; no final decision yet

“We believe that recent speculations stem from the high expectations the market holds for LG Electronics in India,” an LG Electronics spokesperson said

India's biggest IPO? Hyundai also picks Kotak, MS to finalize syndicate; eyes $2.5 bn to $3 bn raise

BUSINESS

India's biggest IPO? Hyundai also picks Kotak, MS to finalize syndicate; eyes $2.5 bn to $3 bn raise

Hyundai Motor India was India's second largest carmaker after Maruti Suzuki in FY24 in terms of passenger sales volumes

Carlyle-promoted Hexaware picks 5 i-banks for mega IPO at $5-6-bn valuation, India's biggest in IT services since TCS

BUSINESS

Carlyle-promoted Hexaware picks 5 i-banks for mega IPO at $5-6-bn valuation, India's biggest in IT services since TCS

Carlyle acquired Hexaware in 2021 from Baring Private Equity Asia (now EQT) for around $3 billion. The earlier promoter Baring Private Equity Asia had delisted the firm in 2020

'Shriram HF acquisition is a Deja Vu moment for us', says Narendra Ostawal of Warburg Pincus

BUSINESS

'Shriram HF acquisition is a Deja Vu moment for us', says Narendra Ostawal of Warburg Pincus

Ostawal leads the investment advisory activities of Warburg Pincus in India and joined the firm in 2007

MC Exclusive: MNCs looking at India in a very different way as compared to few years ago, says JP Morgan's Navin Wadhwani

BUSINESS

MC Exclusive: MNCs looking at India in a very different way as compared to few years ago, says JP Morgan's Navin Wadhwani

Wadhwani joined JP Morgan India as head of investment banking in October 2022. He has three decades of experience as a dealmaker and has previously worked at RIL, Rothschild and Arthur Andersen

Targeting $50 bn valuation for IIHL's BFSI portfolio by 2030; hopeful of quick IRDAI nod for RCap buyout: Ashok Hinduja

BUSINESS

Targeting $50 bn valuation for IIHL's BFSI portfolio by 2030; hopeful of quick IRDAI nod for RCap buyout: Ashok Hinduja

IIHL is awaiting the green signal from the insurance sector regulator IRDAI for the Rs 9,661 crore Reliance Capital acquisition

Race for Apax Partners promoted Healthium Medtech: KKR seen as lead contender

BUSINESS

Race for Apax Partners promoted Healthium Medtech: KKR seen as lead contender

In 2018, British private equity firm Apax Partners acquired Healthium Medtech from investors including TPG Growth and CX Partners

Race for Shriram Housing Finance: Mubadala in talks to join front-runner Warburg Pincus as co-investor

BUSINESS

Race for Shriram Housing Finance: Mubadala in talks to join front-runner Warburg Pincus as co-investor

Parent Shriram Finance, which is mainly into commercial vehicle financing, owns 84.82 percent in Shriram Housing Finance, while 14.94 percent stake is held by San Fransisco, California-based private equity player Valiant Capital Management

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