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Italy's FILA sells 4.6% stake in Indian unit DOMS
VCCircle
·
7m ago
Medial
Italian stationery company FILA has sold a 4.57% stake in its Indian subsidiary, DOMS, for approximately 90.9 million euros ($94.6 million). The shares were sold through an accelerated bookbuilding process, with around 2.7 million shares sold at INR 2,879.29 ($33.84) per share. FILA aims to use the newly obtained liquidity to optimize its capital structure and pursue strategic goals. Following the sale, FILA's ownership in DOMS is reduced to 26.01%.
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Indian stationery maker Doms files draft papers for $145 mln IPO
Reuters
·
1y ago
Medial
Indian stationery manufacturer Doms Industries has filed for a $144.53 million IPO. The company plans to issue new shares worth $47.12 million, while existing shareholders, including FILA Fabbrica Italiana Lapis ed Affini SpA, will sell shares worth $97.41 million.
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Tata Motors approaches Italy's Agnelli family to buy controlling stake in Iveco
Economic Times
·
21d ago
Medial
Tata Motors is reportedly in discussions with Italy's Agnelli family to acquire a controlling stake in the truck maker Iveco. Exor, the Agnellis' investment company, holds significant shares and voting rights in Iveco. The potential sale excludes Iveco's defence unit. Offers for the defence segment include proposals from Leonardo and Rheinmetall, among others. Iveco's market value is about 4.2 billion euros, and any deal might involve Italy's strategic interest legislation.
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WeWork’s India Exit Deal Falls Through Amid Sector Revival
Inc42
·
10m ago
Medial
WeWork's plans to sell its stake and exit its Indian unit have fallen through due to a disagreement over valuation. The coworking company currently holds a 27% stake in the Indian unit, while the remaining 73% is owned by real estate company Embassy Group. WeWork had intended to sell its remaining stake in April through a secondary transaction worth INR 1,200 Cr.
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LG Electronics' India unit files for IPO
VCCircle
·
8m ago
Medial
LG Electronics' Indian unit has filed for an IPO, with its parent company planning to sell 101.8 million shares. The IPO is valued at $1.80 billion, making it one of the top five IPOs in India this year. The company, which sells washing machines and refrigerators, competes with Whirlpool of India and Samsung's India unit in the domestic market. Leading bookrunning managers for the IPO include Morgan Stanley, J.P. Morgan, BofA Securities, and Citi.
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Haier’s India arm draws interest from more local strategic players, foreign funds
VCCircle
·
8m ago
Medial
Haier Smart Home Co.'s Indian unit has garnered interest from both local strategic players and foreign investment funds. The Chinese household appliances manufacturer is considering various options, which may include selling a majority stake in the unit, Haier India. This development signifies the attractiveness of the Indian market to global investors.
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Mirae Asset to acquire BNP Paribas unit Sharekhan for $370 mn
VCCircle
·
1y ago
Medial
Mirae Asset Securities, a South Korean investment banking and stock brokerage firm, has announced its acquisition of BNP Paribas' Indian retail brokerage unit, Sharekhan, in a deal worth $370 million. Mirae Asset will acquire a 72.76% stake in Sharekhan, while also acquiring a 99.9% stake in Human Value Developers, which holds a 27.24% stake in Sharekhan. The acquisition aims to tap into the long-term growth potential of the Indian securities industry, amidst a surge in retail participation in the Indian stock market.
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Zaggle to acquire majority stake in enterprise software firm EffiaSoft
VCCircle
·
4m ago
Medial
Zaggle Prepaid Ocean Services Ltd is acquiring a majority stake in EffiaSoft Pvt Ltd, an enterprise software company. Zaggle will purchase a 45.3% stake for Rs 36.7 crore and an additional 5.67% stake for Rs 4.6 crore. EffiaSoft, founded in 2012, provides enterprise software solutions like JustBilling. Zaggle's acquisition aims to enhance its portfolio by integrating EffiaSoft's technology. This move follows Zaggle's strategy to expand its presence in the software-as-a-service sector.
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Info Edge To Invest Another INR 15 Cr In Agritech Startup Gramophone
Inc42
·
1y ago
Medial
Indian internet company Info Edge is set to increase its stake in agritech startup Gramophone with an investment of INR 15 crore ($1.8m). The investment, made via subsidiary Startup Investments (Holding) Ltd, will take Info Edge's stake in Gramophone to 39.5%. Gramophone, founded in 2016, sells farming supplies such as seeds, fertilisers and pesticides directly to farmers and through small retailers. Info Edge has previously invested in the startup and its board also approved the divestment of SIHL's 34.93% holding in B2B catalogue company Wishbook Infoservices.
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Spotlight: Can Lendingkart turn around with Temasek’s Fullerton at the helm?
VCCircle
·
9m ago
Medial
Singapore state investment firm Temasek has acquired a majority stake in Indian non-bank lender Lendingkart. This comes just months after Fullerton Financial Holdings, a unit of Temasek, sold its stake in another Indian non-bank lender. Lendingkart aims to leverage Temasek's expertise and resources to enhance its operations and grow its lending business. The move is expected to boost Lendingkart's prospects and potential for turning around its financial performance.
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Blackstone trims stake in EPL for $220 mn as Indorama gets on board
VCCircle
·
5m ago
Medial
Blackstone is selling a 24.9% stake in EPL Ltd, an Indian packaging company, to Indorama Ventures' unit for around $220 million. This reduces Blackstone's stake from 51.45% to 26.55%. Indorama Netherlands can appoint a director to EPL's board. EPL, with 21 facilities globally, serves major brands in oral care, beauty, and pharmaceuticals. Blackstone initially acquired a 75% stake in EPL in 2019. Indorama Ventures is a leading global chemicals producer.
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