BUSINESS
NHAI InvIT plans to raise Rs 7,500 crore from CPP Investments, OTPP, others
NHAI, which holds close to an 18 percent stake in the InvIT, plans to invest Rs 1,400-1,500 crore as sponsor commitment. The remaining capital will come from existing and new investors, the people said.
BUSINESS
German turnaround specialist Mutares to open office in Mumbai; eyes two-three acquisitions per year
Mutares, which acquired an 80% stake in Peugeot Motorcycles from the Mahindra group in 2022, is aiming for an India portfolio of $2-2.5 billion in sales within three years.
BUSINESS
A dozen banks vying for NTPC Green’s Rs 10,000 crore IPO mandate
The IPO proceeds will be used by the company to fund ongoing and future solar energy, green hydrogen and green ammonia capex plans.
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
Blackstone in talks to raise $400 mn in dollar loan for PGP Glass
The loan will be used to partly repay loans availed for acquiring the company, formerly known as Piramal Glass, and partly for funding growth plans.
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
Ready for a haircut: PE firm True North in talks for distress sale of hair-oil brand Sesa Care
True North acquired a 74% stake in the business in 2018 for Rs1,125 crore. The company’s losses increased to Rs 115.59 crore in FY23 from Rs 63.8 crore in the previous year.
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
DB Realty to soon hit the market with Rs 2,000 crore QIP
The property developer plans to complete the fundraising in the coming weeks, depending on market conditions
BUSINESS
Canadian pension fund CDPQ, Cube Highways eye NIIF’s $1.2 billion road portfolio
At an enterprise value of $1.2 billion, this will be the biggest road deal in the country
BUSINESS
Exclusive: Ashoka Buildcon set to sell 11 roads to Edelweiss Alternatives for $277 million
The infrastructure company is also engaged in talks to sell a portfolio of five build-operate-transfer (BOT) road projects
BUSINESS
Quess Corp’s Isaac: We are addressing the conglomerate discount through the demerger plan
Quess Corp shares surged 13% after it announced a plan to split into three independent entities to unlock shareholder value
BUSINESS
Sebi wants PE/VC shareholders out of IPO pricing decisions
Sebi has issued observations on a few draft prospectuses, asking companies and its IPO managers to remove “selling shareholders” from the decision making process of pricing or allocating shares.
BUSINESS
Hyundai picks Shardul Amarchand, Latham as legal advisors for India IPO
Earlier, on February 9, Moneycontrol reported that Hyundai has picked investment banks JP Morgan, Citi and HSBC as the merchant bankers to the $3 billion -3.5 billion Indian IPO.
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
A Rs 2,000 crore war chest may come to Paytm’s rescue
Sources say that Paytm is aggressively looking at acquisitions to defend its market share amid the RBI clampdown.
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.
BUSINESS
Anil Agarwal’s Vedanta Resources completes repayments to bondholders
Maturities of $3.2 billion in bonds were successfully extended to 2029, the company said.
BUSINESS
Actis to acquire 4 HAM road assets from Patel Infrastructure
This is the second roads portfolio to be acquired by Actis in India, through its Long-Life Infrastructure Fund.
BUSINESS
BAT may exit ITC hotels business post demerger
There is no strategic intent from BAT to be a minority shareholder of a hotel company in the Indian market, said BAT CEO Marroco
BUSINESS
Very difficult to give timeline for ITC stake sale: BAT CEO Tadeu Marroco
BAT will likely exit ITC hotels business post demerger and there is no strategic intent from BAT to be a minority shareholder of a hotel company in the Indian market, the CEO added
BUSINESS
Investment intentions of private firms remain upbeat: RBI Governor Das
The RBI survey suggests that investment intentions of private corporates remain upbeat and both services and infrastructure firms are optimistic about overall business conditions, the governor has said
BUSINESS
Paytm Payments Bank fallout: What regulatory and corporate governance red flags should investors watch for?
Investors should recognise that new-age tech companies operate in areas where regulations, too, are still evolving. For such businesses, the risk from these evolving regulations will always be a sword over their heads.
BUSINESS
Shell kicks off sale of Indian renewable energy unit Sprng
The global energy major has reached out to investors such as KKR and Brookfield for the stake sale. Shell is open to a part or full sale of the unit, which is expected to fetch an enterprise value of $1.6-1.8 billion
