BUSINESS
PFC legal advisors green light SP loan against Tata Sons shares
SP Group had initially begun talks with lenders to secure $1.2 billion to refinance a part of its Rs 20,000 crore debt originally maturing in the last week of May
BUSINESS
KKR, Blackstone, Carlyle, Mankind Pharma eye acquisition of Advent-owned Bharat Serums & Vaccines
In November 2019, Advent International had acquired a 74 percent stake in Bharat Serums from its erstwhile private equity investors Orbimed Asia and Kotak PE, as well as the promoters of the company, the Daftary family, for around $500 million. Later, the PE fund acquired the family's remaining 26% stake.
BUSINESS
Unity Small Finance Bank promoters likely to dilute stake to raise up to $150 million: Sources
BharatPe owns 49% in Unity SFB, and Centrum group the remaining 51%. Sources say BharatPe is likely to pare its shareholding to around 25-26%. Company calls it speculation.
BUSINESS
We're now primed for the next level of growth: BK Goenka
The founder of the Indian multinational Welspun World said that it is poised for the next phase of expansion, but added that it will not be at the cost of stability
BUSINESS
Shapoorji Pallonji group seeks more time to repay lenders
Shapoorji has told the NCD holders that it is in the process of raising funds to repay the debt raised with the support of Sterling Investments Corporation Private Limited. A significant portion of the NCDs were sold to domestic high net-worth individuals by wealth management firms, who were allocated these NCDs by several foreign banks.
BUSINESS
Exclusive: Tata Motors mulls merger of EV subsidiary with passenger vehicles business after demerger
The move aims to create exit opportunities for EV divisions’ existing and future investors after the company’s demerger, which will create two listed entities.
BUSINESS
Goldman, Everstone eye $1.7 bn valuation for sale of healthcare-focused IT services firm
Founded in 2003, Omega Healthcare provides revenue cycle management, business process services, and other support services to healthcare companies.
BUSINESS
Health insurance, nutrition are areas of high interest for us: Quadria Capital
Quadria, which is currently raising an $800-million fund to invest in healthcare opportunities across India and Asia, has assets under management of $1.4 billion in India.
BUSINESS
Shapoorji Pallonji Group taps Power Finance Corp for $1.2 billion loan
Discussions on refinancing the group’s loans with state-run PFC have been on for weeks, but the lender has not yet decided on extending the loan. The SP Group pledged its 18% stake in Tata Sons, the holding company of the conglomerate, as security for the original loan.
BUSINESS
HUL's Tiwari says rural demand to outpace FMCG industry average
HUL’s business strategy involves three key priorities: first, driving volume growth; second, enhancing gross margins to fuel further investment; and third, ensuring competitiveness in the market by expanding market share, said Ritesh Tiwari.
BUSINESS
Bajaj Auto expects to continue solid FY24 performance in current fiscal
The Pune-headquartered company, which posted an impressive 35 percent jump in net profit in the March quarter, is betting its CNG-driven bike, the world's first, will attract fuel-conscious customers
BUSINESS
Global interest in India opportunity will propel economic growth: Sanjay Nayar
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.
