Another source said MedPlus is looking to raise between Rs 800 crore and Rs 1,000 crore via the IPO
Of this 26 percent stake, PremjiInvest -- the family office of Wipro founder Azim Premji -- is likely to pick up a higher stake than Warburg Pincus and may get a board seat as part of this proposed transaction.
Moneycontrol's Sakshi Batra does a 3 Point Analysis of how the stake sale of the FMCG arm will affect Emami group.
The Board wants to get the shareholders' opinion on the proposed deal, two people aware of the developments said.
The insurer is a joint venture between banking major ICICI Bank and UK's Prudential Corporation Holdings. ICICI Bank has around 68 percent stake in the company, while Prudential holds 26 percent.
The company, which filed the draft red herring prospectus with the Securities and Exchange Board of India (Sebi) on July 18, got the regulator approval on September 2, as per the latest update. The insurer is a venture between banking major ICICI Bank and UK's Prudential Corporation Holdings.
Sources said ICICI Prudential has lined up an initial public offer and the draft papers in this regard are likely to be filed with Sebi as early as today.
The infrastructure space has attracted many big names from the private equity (PE) and venture capitalist (VC) space, but this time around Azim Premji may have his eyes on the sector.