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Mankind plans fundraise for BSV deal; Raymond to list two more units
VCCircle
·
11m ago
Medial
Mankind Pharma Ltd aims to raise funds worth Rs 9,000 crore ($1.2 billion) through non-convertible debentures (NCDs) and short-term commercial paper to finance its acquisition of Bharat Serums and Vaccines Ltd (BSV) for Rs 13,630 crore. The company plans to borrow at an average cost of around 8.5% with varying maturities.
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Mankind Pharma to buy Bharat Serums as Advent International exits
VCCircle
·
1y ago
Medial
Mankind Pharma has agreed to acquire Bharat Serums and Vaccines (BSV) from private equity firm Advent International for around $1.63 billion. This acquisition will position Mankind Pharma as a leader in the Indian women's health and fertility drug market and provide access to other critical care products. BSV has a niche portfolio in women's health, with a strong R&D center and a diverse product pipeline. The company reported revenue of around $237 million in FY24, with annualized revenue growth of 21% over the last three years.
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Mankind Pharma in talks with PE for consortium bid of Bharat Serums: Report
Livemint
·
1y ago
Medial
Pharmaceutical company Mankind Pharma is reportedly in talks with private equity firms, including Bain Capital, Blackstone, Carlyle, and KKR, to form a consortium bid to acquire Bharat Serums and Vaccines (BSV). BSV is being sold by its current owner, Advent International, with a price tag of over $2 billion. However, sources suggest that the final transaction may range between $1.5 - 1.8 billion. Mankind Pharma is looking to gather funds for the potential acquisition, either independently or by partnering with another investor. The company is also planning to raise funds through a qualified institutional placement.
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Raymond Realty to launch Rs 14,000 cr worth housing projects in FY26, fixes July 1 for listing on bourses
Economic Times
·
1m ago
Medial
Raymond Realty plans to launch six residential projects in the Mumbai Metropolitan Region this fiscal year, with revenue potential estimated at Rs 14,000 crore. The company will list on stock exchanges on July 1, following a demerger from Raymond Ltd. This move allows Raymond Realty to focus solely on real estate. The company's projects will range from Rs 2 crore to Rs 20 crore, targeting quality and timely completion. Raymond Realty also aims to explore joint development agreements in Mumbai and Pune.
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Bharat Serums shortlists three bidders; Unacademy lays off 250 people
VCCircle
·
1y ago
Medial
Bharat Serums & Vaccines (BSV), a biopharmaceutical company backed by Advent International, has shortlisted three potential buyers for its ongoing sale. The shortlisted bidders include a consortium of EQT and Abu Dhabi Investment Authority, Indian drugmaker Mankind Pharma, and a consortium of ChrysCapital, Warburg Pincus, and Mubadala. In another development, edtech firm Unacademy, supported by SoftBank and General Atlantic, has laid off 250 employees. The layoffs come amidst reports of a potential merger between Unacademy and K12 Techno, the operator of Orchids International Schools.
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Raymond shares rise 2% as subsidiary bags new realty project worth Rs 2,000-cr
Money Control
·
1y ago
Medial
Shares of Raymond Limited have surged 2 percent to Rs 2,600 after its real estate arm, Raymond Realty, was chosen for the redevelopment of a residential project in Bandra East, Mumbai. The project is estimated to generate a revenue of over Rs 2,000 crore and is in line with the company's growth plans for real estate development in the Mumbai Metropolitan Region. The shares of Raymond have rallied nearly 50 percent since the beginning of the year.
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PE firms line up for Bharat Serums; IFC, ADB to invest in Fourth Partner
VCCircle
·
1y ago
Medial
Five major global private equity firms including Warburg Pincus, Permira, EQT, Bain, and TPG are reportedly interested in acquiring Bharat Serums and Vaccines (BSV), with a valuation exceeding $1 billion. These firms are expected to express their interest within the next two weeks and begin the due diligence process.
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Ather Energy’s Maharashtra facility to boost EV capacity to 1.42 million
Economic Times
·
1m ago
Medial
Ather Energy has announced plans to establish a new manufacturing facility in Maharashtra, which will enhance its annual production capacity for electric two-wheelers to 1.42 million units.
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Japan’s Daikin to make India its base
Internet
·
1y ago
Medial
Daikin plans to make India its manufacturing hub, producing two million units in FY25. Since entering India in 2004, Daikin has invested over ₹2,000 crore, with an FY24 turnover of ₹10,500 crore. They operate three manufacturing units and three R&D centres. Daikin aims to produce five million units by 2030.
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Stock Radar: Eicher Motors, Hero MotoCorp, Mankind Pharma, Ashoka Buildcon, KRN Heat, ITC in focus on Thursday
Money Control
·
10m ago
Medial
- Mankind Pharma receives regulatory approvals for the acquisition of Bharat Serums and Vaccines. - Zydus Lifesciences gets tentative approval from the USFDA for manufacturing Enzalutamide tablets. - Ashoka Buildcon receives the letter of award for multiple infrastructure projects worth crores. - Royal Enfield sales increase by 11% YoY, surpassing analysts' estimates. - Hero MotoCorp reports sales of 6.37 lakh units, beating analysts' expectations. - Maruti Suzuki India records a 1.9% increase in total sales, driven by higher exports.
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After Wakefit, Verlinvest lines up Purplle and Veeba for IPOs
Livemint
·
1m ago
Medial
Verlinvest, a Belgian investment firm, plans to list Indian consumer startups Purplle and Veeba on the public markets following Wakefit's IPO filing. The firm expects at least two more consumer startups from its India portfolio to go public in the next two years. Verlinvest's investment strategy involves adding 2-3 domestic brands annually while supporting existing portfolio companies in their growth and public listing endeavors.
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