Indegene Share Price: CA Dawn Investments is looking to sell its entire stake of 10.2 percent in Indegene, valued at approximately Rs 1,420 crore.
The New-York based firm that counts PNB Housing Finance Ltd. and Yes Bank Ltd. in its India portfolio, is keen to acquire wealth and asset management companies as local households move their savings toward financial assets.
The US investment firm has held early talks with advisers about a possible share sale in Mumbai that may take place as soon as next year, the people said, asking not to be identified because the information isn’t public.
According to the bulk deal data available on the National Stock Exchange (NSE), CA Dawn Investments, an affiliate of US-based Carlyle, sold 1,02,63,785 shares amounting to a 4.3 per cent stake in Indegene.
Worldpac, a wholesale parts distribution business, generated about $2.1 billion in revenue for the year ended June 30.
Reports also suggest that the stake sale will unlock a 90-day lock-in period on any further sale of PNB Housing Finance shares by the Carlyle Group.
With the increased stake on offer, the Carlyle Group now aims to earn Rs 2,511 crore from the block in PNB Housing Finance as compared to previous Rs 1,256 crore.
The Carlyle Group likely earned Rs 1,602 crore by selling 2.2 percent stake in Yes Bank through the block deal.
The deal is likely to be launched today. Goldman Sachs is said to be the broker to the deal, sources added.
The US investment firm is speaking with potential arrangers to help prepare for an IPO in Mumbai this year or next, the people said, asking not to be identified because the matter is private. A share sale might value Hexaware at $4 billion or more, they said.
The stock of Yes Bank has surged 13 percent in the past one month, as against 1 percent decline in the benchmark Sensex.
In August, Carlyle and Quest Global announced they had reached a definitive partnership agreement, whereby Carlyle would be acquiring a minority stake in the company.
More than marquee funding, the progress on fixing stressed assets through the asset reconstruction route in partnership with JC Flowers will earn it the trust of the market
Retail, SME finance and digital are "key drivers of growth" for Yes Bank, Shweta Jalan said.
Carlyle has sought board nomination as part of the deal which allows it to acquire 10 percent stake in Yes Bank
The Carlyle Group is planning to invest via the FDI route instead of FPIs, according to the report.
Carlyle Group Inc. is seeking to raise $8.5 billion for its biggest-ever Asian buyout fund, people familiar with the matter said.
Shares of SBI Cards had opened sharply lower. At 9.30am, the stock was trading at Rs 843 on the BSE, down 3.8% from its previous close
With this, SF Holdings’ stake in the Venu Srinivasan- headed Sundaram Clayton stands at 9.74%. SF Holdings also announces a special dividend of 20%. The company reports a 22% increase in consolidated net profit for the quarter ended December 2021.
PNB Housing Finance locked horns with SEBI over the pricing methodology of its Rs 4,000-crore deal with Carlyle, as part of which former HDFC Bank MD and CEO Aditya Puri would be a co-investor and join the PSU firm’s board. The transaction opted for the route of preferential allotment of shares, via which the private equity firm sought to acquire control.
The cancellation of the capital infusion plan assumes significance as the deal, if executed, would have seen United States-based Carlyle Group taking control of the lender.
The SAT had last month given a split verdict in the appeal filed by PNB Housing Finance against SEBI over the proposed Rs 4,000 crore investment by Carlyle Group.
After reports of CCI's approval to Carlyle-PNBHFL deal emerged, the shares of PNB Housing surged by 4.99 percent at the National Stock Exchange.
PNB Housing Finance said it received a letter from PNB on July 4 and subsequent to that the board of the company met on July 5 and 6, 2021.
While in many transactions it may not be able to please all sections of investors and market participants, PNB Housing Finance and the board owe it to shareholders to conduct the entire process in a transparent manner in the quest to extract maximum value