BUSINESS
US Fed rate cut to spur more Indian corporates to tap offshore bond markets
Fed chairman Jerome Powell delivered the large 50 bps rate cut, driven by the increased confidence that the US' long battle with inflation had come to an end.
BUSINESS
Shapoorji seeks Rs 2,000 crore from Davidson Kempner, Deutsche Bank to make interest payments
The talks for raising additional debt come as the group seeks more time for interest payment of Rs 1,800 crore on the debt facility raised by group entity Goswami Infratech
BUSINESS
Blackstone-TPG owned Care Hospitals in advanced talks for merger with Aster DM Healthcare
The merged entity will rank among the top three hospital chains in India, in terms of number of beds, along with Apollo Hospitals and Manipal Hospitals
BUSINESS
Carlyle's dividend haul from Hexaware touches Rs 1,380 crore in three years since its acquisition
Hexaware's Rs 530.8 crore dividend payout in 2023 beats Wipro, ICICI Lombard, and Godrej Consumer and would rank it 34th among BSE 100 index members if it were a publicly traded company.
BUSINESS
GSK Velu’s Neuberg Diagnostics in talks with 360One, M&G Investments for $100 mn pre-IPO fundraise
Neuberg had hired investment bank o3 Capital to help raise funds from private equity investors, Moneycontrol reported on 17 April.
BUSINESS
QIPs lead the show as real estate sector sees 17-year-high equity fundraising
Real estate developers raised Rs 11,746 crore through the QIP route tnis year, which is an all-time high. In fact, 2024 is the second-best year as far as overall equity issuances are concerned, after 2007.
BUSINESS
Alkem promoters may sell stake; tap PE firms KKR, Blackstone, EQT
Alkem's promoters, with a 56.38% stake worth about Rs 42,280 crore, have hired Nomura as the banker for the stake sale.
BUSINESS
Panchshil-Blackstone hotel JV Ventive Hospitality files DRHP for Rs 2,000 cr IPO
Moneycontrol first reported on September 9 that Ventive was looking to file its draft red herring prospectus with the markets regulator this week.
BUSINESS
Solar panel maker Saatvik may go public next fiscal, plans Rs 1,500 cr capex
With the additional capacity, the company expects its revenue to increase to Rs 1,800-2,000 crore this financial year from Rs 1,100 crore last year. Saatvik is alsp planning a foray into newer areas like green hydrogen.
BUSINESS
Ather Energy’s venture debt backers set for big repayment from IPO
Ather plans to raise Rs 3,100 crore from fresh issue of shares, of which Rs 378.2 crore will go towards repayment of loans to Alteria Capital (Fund I and II), Innoven Capital India Fund, Stride Venture Debt (Fund II and III) and Nuvama Crossover Yield Opportunities Fund
BUSINESS
Panchshil-Blackstone’s Ventive Hospitality to file for Rs 2,000 crore IPO this week
India has seen three hotel operators go public in the past 12 months.
BUSINESS
Vedanta Resources in talks with lenders to raise $1 billion through foreign currency bonds: Sources
On July 25, global rating agency S&P upgraded Vedanta Resources credit rating to B- from CCC+ on the back of improving capital structure and liquidity.
BUSINESS
Post-Covid-19 capital markets boom sees IPO banker fee double for mid-sized deals
The Indian primary market has seen 196 IPOs from FY21 onwards, resulting in a total fundraise of Rs 2.56 lakh crore.
BUSINESS
JSW Steel taps Japan's MUFG for funding Australian coking coal mining company acquisition
The development assumes significance as most major global banks have limited their exposure to fossil fuel assets amidst growing global pressure over climate change, making it difficult for companies to access funds for financing the acquisition of such assets.
BUSINESS
JSW Cement’s IPO hits Sebi wall over show cause notice to promoter Jindal family
Sebi go-ahead for the offer document likely post-settlement of the case, say sources
BUSINESS
India's biggest solar panel maker Waaree Energies’ IPO delayed over deemed public offer non-compliance
The approval has been withheld due to apparent non-compliance with a Companies Act provision which states that an unlisted company cannot offer its shares to more than 200 people in a financial year, without making a public offering.
BUSINESS
IGI IPO: Why Blackstone is asking investors to pay for acquisition of overseas assets it owns
International Gemmological Institute (IGI), a certification provider for lab grown and natural diamonds, was acquired by Blackstone in May 2023 for around $550 million from Chinese investment firm Fosun and Roland Lowrie of the founding family.
BUSINESS
GEF Capital set for 22x return on solar cell, module manufacturer Premier Energies IPO exit
GEF Capital invested Rs 177 crore in the company in September 2021 for a 21 percent stake.
BUSINESS
Cube Highways front runner to acquire NIIF road portfolio for $775 mn enterprise value
If concluded, this will be the first exit by NIIF, which began operations in 2019. This will also be the second-biggest road portfolio sale this year.
BUSINESS
KKR, Canadian pension fund set to pump in up to Rs 3,000 crore in HIT
The investment will be utilised towards funding the acquisition of a portfolio of 12 roads from PNC Infratech for an enterprise value of Rs 9,000 crore.
BUSINESS
Bharti Group raises $1.8 bn debt from Barclays for BT stake buy; may rope in more lenders
On August 13, Bharti announced that it would acquire a 24.5% stake in BT for a sum of 3.2 billion pounds ($4 billion), from the British telco’s biggest shareholder Patrick Drahi’s Altice group.
BUSINESS
Tower InvIT Data Infra Trust to raise Rs 6,600 cr from Brookfield, GIC, British Columbia for ATC deal
Data Infrastructure Trust on January 4 had announced that it will acquire ATC’s India telecom business comprising 78,000 towers for an enterprise value of Rs 16,500 crore
BUSINESS
Ola Electric, FirstCry IPOs give i-banks a fat Rs 241 cr payday
The fee income earned by bankers from these two IPOs represent almost 20 percent of the total IPO fee income in 2024, with the total fee earnings so far standing at Rs 1,214 crore across 44 IPOs.
BUSINESS
Adani Enterprises likely to launch maiden retail NCD offering this month, QIP in early September
On July 25, Adani Enterprises filed a draft prospectus with stock exchanges for raising Rs 600 crore through a public offer of non-convertible debentures. In May, the board of Adani Enterprises approved a proposal to raise up to Rs 16,600 crore through the QIP route.
