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Hush-hush tales from the world of stock markets, banking, corporate world and corridors of power

MC Insider: Merger speculation rises again, once-aggressive founder now looks glum, burning through cash, deal buzz and more

Last Updated: January 31, 2022 / 08:47 AM IST

MERGER MURMURS YET AGAIN!

MERGER MURMURS YET AGAIN!

This small-sized bank was a part of merger speculation multiple times till a few years ago. But nothing transpired! After a gap, once again prospective buyers have sent feelers to the big investors of this bank for a possible buyout, we hear. There is no formal proposal at board level yet. Some of the investors who have significant holdings in the bank are keen to cash out but others aren't. The bank was in a deep NPA mess for a long period but has seen the worst of it already. At least one big private sector bank based in Mumbai has sent feelers to the target bank's investors, it is learnt. How far will this round go? Let's wait and see.

FOUNDER TURNING OVER A NEW LEAF?

FOUNDER TURNING OVER A NEW LEAF?

This fintech founder, in the news for all the wrong reasons, has become much more subdued in private circles, we hear. At a recent gathering, he was glum and lacked energy amid swirling negative headlines about him. We hear some people even told him to cheer up. It marks a sharp change from the aggressive, cuss-word-spewing founder people know, and many love. So is the man changing after all?

CASH BURN AND HOW!

CASH BURN AND HOW!

This particular firm’s core business ground to a halt even before the pandemic. But that hasn't stopped wild experiments to make electric scooters, sell second-hand cars and even deliver groceries in quick time. Investors and entrepreneurs are bemused that a founder with such a sketchy governance record is burning so much money in so many different spaces without blinking!

CAPITAL CONNECTIONS

CAPITAL CONNECTIONS

Rumour has it that a particular CM’s decision to shift the state capital may have led to the collapse of a financial services firm, including several other companies which had invested in and around the old choice! With real estate collapsing in the place which was picked earlier, we hear hordes of realtors and speculators are flocking to the new destination where prices have zoomed! Call it realty spirit!

DEAL OR NO DEAL?

DEAL OR NO DEAL?

Folks on the street are exchanging chatter about a possible deal in the works…A key investor in a firm in the healthcare and life sciences segment is weighing a potential block trade but, as always, a lot depends on pricing and timing. Valuations have risen in the segment and looks like a partial exit, no confirmation on that, so we shall wait and watch…

THE PRIVATE EQUITY ANGLE

THE PRIVATE EQUITY ANGLE

More buzz from Deal Street…A clutch of private equity funds are believed to be in the race (we hear as many as four of them) to pick up a minority stake in the arm of this pharma arm which is looking to unlock value. Analysts seem to be pretty bullish on the proposed value discovery in this vertical. Not to forget, many private equity firms have been on the hunt for pharma assets to build specialised platforms.

A DAUNTING PROJECT

A DAUNTING PROJECT

This firm has been on the path of non-core asset monetisation for a while now. A few months back, there was chatter about the said firm selling its stake in a prominent project under the public-private partnership mode. The latest gossip doing the rounds is that it is now close to finalising a partner to infuse additional funds in the same marquee project. So will things be sealed after all?

WAIT AND WATCH BEFORE YOU LIST!

WAIT AND WATCH BEFORE YOU LIST!

Volatile markets have led to many IPO aspirants re-assessing their launch timelines. For instance, last week, there was buzz about this private equity-backed firm in the healthcare space which was apparently looking to hold on to its horses. The same rumours were heard about a firm in the travel & hospitality segment. It seems a bunch of deals fall in this category. Regulatory validity of financials is another aspect to be kept in mind. With Budget 2021 and the LIC IPO round the corner, guess many aspirants don’t want to take the plunge if they aren’t entirely comfortable and are in wait and watch mode. What’s the hurry after all, because if you have the Sebi nod in place, it is valid for several months.

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