BUSINESS
GSK Velu’s Neuberg Diagnostics in talks to raise $100 million in pre-IPO funding
Neuberg will use the proceeds from the round to bolster its M&A ability as it looks to become India’s largest diagnostic chain before a planned new share sale sometime next year
BUSINESS
Vodafone Idea to launch Rs 18,000-20,000-crore FPO next week
Moneycontrol reported on March 1 that Vodafone, which is looking to raise Rs 45,000 crore in equity and debt, has secured equity commitments exceeding Rs 8,200 crore from anchor investors. Bulk of the funds will be used for growth capex.
BUSINESS
Blackstone open to sale of controlling stake in PGP Glass
The private equity firm is looking at a valuation of over $2 billion for the stake sale.
BUSINESS
KKR taps Torrent Pharmaceuticals for JB Pharma stake sale
KKR's stake in JB Pharma is worth Rs 13,767 crore based on the stock's closing price of Rs 1,649.45 last week
BUSINESS
Hindustan Unilever weighs sale of Pureit water purifier business
The talks for the sale of the India Pureit business come amid parent Unilever Plc initiating the sale of its majority stake in Qinyuan Group Co., a Chinese maker of water purification equipment that it acquired in 2014.
BUSINESS
Adani Group eyes $1 billion in foreign currency bonds for expansion
Moneycontrol reported on February 28 that the Adani group has embarked on a series of overseas roadshows for bondholders to bolster investor confidence around its businesses before fresh bond sales.
BUSINESS
Analysis: Tata Sons faces a delicate balancing act between pragmatism and upholding its legacy
RBI’s directive, issued in September 2023, requires Tata Sons, classified as an upper-layer non-banking financial company, to list its shares within three years. Tata Sons faces a deadline of September 2025 to go public.
BUSINESS
We will look at listing some of our private growth gems: Mahindra’s Anish Shah
‘Our focus is to drive the core engine of the business to deliver growth. And if we do that well, the market will reward us.’
BUSINESS
Shapoorji Pallonji group eyes rollover of Rs 20,000 crore loan backed by Tata Sons shares
The group’s borrowing costs rose by 2 percentage points due to a breach of a loan covenant breach for not divesting its stake in Gopalpur Port by the end of last year. Failure to list its engineering unit Afcons by June may incur further penalties.
BUSINESS
No concrete plans yet for EV cell manufacturing: Anish Shah
M&M, which already sells the XUV400 EV, an electric version of its XUV300 model, aims to launch five to six electric vehicles in the coming quarters.
BUSINESS
No immediate plan for auto business demerger, says Mahindra CEO Shah
While M&M prioritizes maximising shareholder value through synergies, Shah says the group can consider a demerger if it promises greater value but such deliberations are not on the immediate agenda
BUSINESS
RBI, Sebi action will have a positive effect on financial services sector, says Mahindra's Anish Shah
Several financial institutions, including IIFL Finance, Paytm Payments Bank, and JM Financial, have come under intense regulatory scrutiny, sparking concerns across the financial sector.
BUSINESS
India should chart own course, following a China-plus-one strategy is flawed: Mahindra's Anish Shah
'India is setting up its policies for itself, and there is no need to emulate anyone on that front because we are not a 'plus one'
BUSINESS
Anticipate a shift in credit growth composition towards manufacturing and infrastructure : Ankur Khurana, Co-head, Corporate Banking, Standard Chartered
The shift will be driven by factors such as post-election confidence, 'China plus one' strategy, and ongoing investment in energy transition, he says.
BUSINESS
Tata Motors demerger aimed at unlocking better value for the two businesses
Analysts noted that the demerger will make it easier for the two companies to raise funds in the future, especially for the PV business with competition expected to intensify, and the EV unit.
BUSINESS
Have commitments from anchor investors for $1 billion in equity, Voda-Idea tells banks
Vodafone Idea also told investors it has received assurances from local banks for additional debt funding on completion of the equity funding
BUSINESS
Adani Group launches roadshows across the globe to engage investors
The conglomerate plans to highlight its ability to service debt through prudent financial planning, operational efficiency, and strategic asset monetization while also addressing any concerns relating to the Hindenburg crisis
BUSINESS
Eye on India: We take a bottom-up fundamental approach to stock picking, says GQG
While GQG has made several investments in India in the past, the decision to invest in the Adani Group marked a turning point. Despite lingering concerns regarding its exit strategy, the fund says it's under no pressure from its investors.
BUSINESS
Tollywood superstar Allu Arjun-backed streaming platform Aha looks to onboard strategic investor
The streaming platform reported a revenue of Rs 122.08 crore, a growth of 61 percent over the revenue of Rs 76.02 crore recorded in the previous financial year. However, losses increased by 31 percent over the previous fiscal to Rs120.94 crore.
BUSINESS
Conagra in talks to sell controlling stake in India biz Agro Tech Foods
Conagra’s 51.77 percent stake in Agro Tech Foods is worth Rs 1,123 crore at the current market price of its shares. Rakesh Jhunjunwala family holds an 8.14 percent stake in the company
BUSINESS
Sebi summons former directors of Zee for questioning over alleged funds diversion
The markets regulator is broadening its probe into funds diversion at Zee and is now scrutinising more entities that have conducted business with the company in recent years, sources said. Zee dismissed allegations of accounting irregularities as false
BUSINESS
Anonymity gone, India Inc may now embrace Electoral Trusts: Experts
While there are no restrictions on companies making donations to political parties directly, corporate houses keep such donations off the balance sheet to avoid unwanted scrutiny
BUSINESS
Carlyle eyes exit from Airtel’s data center business
Carlyle acquired a 24% stake in Nxtra Data, India’s largest data centre operator, for around Rs1,780 crore ($235 million) in 2020
BUSINESS
Ontario Teachers and Chrys Capital team up to bid for Healthium Medtech
The transaction is likely to be upwards of Rs 6,000 crore which is almost a three-fold jump in valuation from the acquisition price that Apax Partners paid while acquiring the company in 2018 from TPG Capital.
