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News on Medial
Crest Data promoters tap PE funds for first stake sale
Livemint
·
1y ago
Medial
Promoters of Ahmedabad-based Crest Data Systems are seeking to sell a 25-30% stake, valued at $500-600 million, to private equity funds including Carlyle Group, Kedaara, General Atlantic, and KKR. The company, which offers data analytics and cyber security solutions, was founded in 2013 and is profitable. If the deal goes through, it will be Crest Data's first institutional fundraise. India's data analytics industry is expected to reach $118.7 billion by 2026, driven by digitization efforts and the establishment of new data centers.
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Reliance & Havells enter PE party to snap up Whirlpool
Economic Times
·
1m ago
Medial
Reliance Retail and Havells India are competing with major buyout funds to acquire a controlling stake in Whirlpool of India. Whirlpool Corp seeks to sell a 31% stake, retaining a 20% equity, as part of global restructuring. The sale is expected to generate $550-600 million. If completed, it might trigger an open offer for an additional 26% stake from public shareholders, potentially giving the investor a 57% stake in Whirlpool of India.
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SBI MF, Morgan Stanley, Goldman Sachs, and others buy 1.8% stake in Bajaj Finserv for Rs 5,506 Cr
YourStory
·
2m ago
Medial
State Bank of India Mutual Fund, Morgan Stanley, and Goldman Sachs collectively acquired a 1.8% stake in Bajaj Finserv for Rs 5,506 crore from promoters. Other institutional buyers included JP Morgan India and Citigroup Global. The sale involved 2.86 crore shares at Rs 1,925.20 each, reducing the promoters' stake to 58.84%. Separately, Wabco Asia sold a 3.16% stake in ZF Commercial Vehicle Control Systems India for Rs 792 crore, with multiple institutional buyers participating.
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Haldiram promoters resist PE offers; Stripe may buy stake in SBI Payments
VCCircle
·
1y ago
Medial
The promoters of Haldiram Snacks Foods are resisting offers from private equity firms to buy stakes in the company. Despite receiving non-binding offers, the promoters are not interested in selling their shares. This comes as Stripe, the online payment company, is reportedly looking to acquire a stake in SBI Payments.
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Stock Radar: Welspun Enterprises, Zomato, BSE, Apollo Hospitals, Biocon, Lupin in focus on Monday
Money Control
·
10m ago
Medial
- Welspun Enterprises declared L1 bidder for a project worth Rs 1,989.9 crore by BMC. - IDFC First Bank approves merger with IDFC, appoints V Vaidyanathan as MD & CEO. - Dr Reddy’s Laboratories invests $620 million in its Swiss subsidiary. - Zomato's Chief People Officer, Akriti Chopra, resigns. - Punjab National Bank raises Rs 5,000 crore via QIP. - ICICI Prudential Life Insurance receives order demanding tax of Rs 361.23 crore. - BSE revises transaction charges for Sensex and Bankex Options. - Apollo Hospitals approves allotment of CCPS shares to Advent affiliate. - Bharat Electronics receives approval for joint venture with Israel Aerospace Industries. - Tata Chemicals appoints Subodh Srivastav as Chief Marketing Officer. - Adani Enterprises acquires 74% stake in Cococart Ventures. - Adani Energy Solutions carves out Adani Dahanu Thermal Power Station. - LTIMindtree partners with Currys for re-platforming and implementation of Salesforce solutions. - IndusInd Bank re-appoints Sumant Kathpalia as Managing Director & CEO. - Mangalore Chemicals and Fertilizers resumes production at ammonia and urea plants. - Mahanagar Gas sees reduction in stake by LIC. - Asian Energy Services receives contract worth Rs 82 crore from Oil India. - Piramal Pharma receives Establishment Inspection Report for its Ahmedabad facility. - Jubilant Pharmova receives OAI classification for its Canadian facility. - Biocon receives four observations for its API facility in Bengaluru. - Lupin receives observations for its Pithampur Unit-1 facility. - MPS appoints Prarthana Agarwal as Chief Financial Officer. - Tata Motors holds groundbreaking ceremony for new manufacturing facility in Tamil Nadu. - Reliance Infrastructure wins arbitration award against Damodar Valley Corporation. - Sterling and Wilson Renewable Energy witnesses stake sale by promoters and acquisition by institutional investors. - Shivalik Bimetal Controls sees stake sale by promoters and acquisition by mutual funds. - Nuvama Wealth Management witnesses stake sale by investors and acquisition by global investors. - Entero Healthcare Solutions sees stake sale by Prasid Uno Family Trust and acquisition by stichting depositary. - Amrutanjan Health Care witnesses stake sale by promoter Nageswaramma Private Trust. - Results today: Northern Arc Capital. - Mainboard listing today: Manba Finance. - Ex-dividend: ADS Diagnostic.
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Disha Eye Hospitals may tap foreign investor for maiden PE fundraise
VCCircle
·
9m ago
Medial
Disha Eye Hospitals Pvt Ltd, an eyecare center based in Kolkata, is considering raising equity funds for the first time. The hospital is looking to dilute a minority stake and has attracted interest from both global investors and domestic private equity firms. The funds raised will be used to further develop and expand the hospital's services.
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VIP Industries promoters explore stake sale
Livemint
·
1y ago
Medial
The promoters of VIP Industries Ltd, India's largest luggage and travel accessories maker, are considering selling their stake in the company. The deal, including a potential open offer, could be valued at around $1 billion and result in the promoters exiting the business. Private equity firms are expected to be interested in the asset, given VIP Industries' market share and the growing demand for travel-related products in India. The promoters have hired InCred Capital to manage the sale.
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Jubilant Group Promoters Sell Shares Worth Rs 1,801 Crore
OutlookIndia
·
1m ago
Medial
Jubilant Group promoters, including Jubilant Consumer, sold shares worth Rs 1,801 crore through separate market deals. Jubilant Consumer offloaded 1.06 crore equity shares of Jubilant FoodWorks Ltd, reducing their stake from 41.94% to 40.33%. Promoter entities of Jubilant Ingrevia sold a 6.2% stake, and Jubilant Pharmova's promoters offloaded a 2.06% stake. Buyers included Societe Generale, Morgan Stanley, and various mutual funds. Jubilant Ingrevia's shares rose, while Jubilant Pharmova's fell in value.
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GR Infra shares fall as promoters to sell stake to meet shareholding norms
Money Control
·
1y ago
Medial
Shares of GR Infraprojects dropped nearly 4% as some promoters look to sell up to 5% equity in the company to comply with minimum public shareholding norms. The promoters intending to divest their holding of around 48.34 lakh shares include Laxmi Devi Agarwal, Suman Agarwal, Ritu Agarwal, Lalita Agarwal, and Kiran Agarwal. The stake sale will take place through open market transactions and will not involve any acquisition of shares during the sale period.
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Cookies, cakes & stakes: Theobroma may change hands
Livemint
·
1y ago
Medial
The promoters and investors of Theobroma Foods, a popular patisserie chain in India, are in talks with merchant bankers for a stake sale. ICICI Venture, which currently holds a 42% stake in the company, is looking to sell its entire stake for around ₹1,200 crore. The chain's founding family is also planning to exit. Theobroma Foods, founded in 2004, has grown to become a pan-India chain with 194 stores. The company is expected to be valued at around ₹2,800 crore. The formal sale process is yet to be launched.
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Four years since the Yes Bank rescue, RBI okays its saviours' exit plan
Livemint
·
1y ago
Medial
The Reserve Bank of India (RBI) has granted approval for the sale of up to a 51% stake in Yes Bank, allowing for a new owner for the private lender. This move is seen as setting the stage for a potential acquisition in India's banking sector. The approval allows for a possible valuation of the bank at around $10 billion. The RBI has typically capped promoter holding in domestic banks at 26%, making this decision a rare one in approving a majority stake sale. The bank has appointed Citigroup to shortlist suitable promoters.
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