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Bessemer Venture Partners pares 13.5 pc stake in Medi Assist for Rs 580 crore
YourStory
·
10m ago
Medial
Bessemer Venture Partners has sold a 13.5% stake in Medi Assist Healthcare Services for Rs 580 crore through open market transactions. Goldman Sachs, Morgan Stanley, and Societe Generale acquired a stake in the company. The shares were sold at an average price of Rs 611.70 per share. Following the sale, Bessemer Venture Partners' stake in Medi Assist decreased from 29.22% to 15.72%. Other buyers of Medi Assist Healthcare Services' shares included Invesco Mutual Fund, ICICI Prudential MF, HDFC MF, Aditya Birla Sun Life Insurance, and more. On the NSE, shares of Medi Assist Healthcare Services closed at Rs 611.70.
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Investcorp, Bessemer to make multifold gains as Medi Assist eyes $1.7 bn tag in IPO
VCCircle
·
1y ago
Medial
Investcorp and Bessemer Venture Partners are set to make substantial profits as Medi Assist Healthcare Services prepares for its IPO. The Bahrain-based investment firm and the Silicon Valley venture capital firm will sell part of their stakes in the Indian health insurance third-party administrator. Medi Assist has set the price band for its IPO at Rs 397-418 per share.
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Medi Assist Insurance completes acquisition of Paramount TPA
Economic Times
·
24d ago
Medial
Medi Assist Insurance TPA Pvt Ltd has fully acquired Paramount Health Services & Insurance TPA. Although both entities will continue to operate independently until the merger process is formalized, this acquisition aims to streamline operations and enhance offerings, adding Rs 4,000 crore of health premiums under administration. Medi Assist plans to use Paramount's established relationships to deliver increased value and improve healthcare access. The acquisition represents a strategic move to expand and improve health benefits.
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This VC firm just hit nearly 2,000x returns on seven-year-old India investment
VCCircle
·
10m ago
Medial
Silicon Valley venture capital firm Bessemer Venture Partners recently made a significant return on its investment in India. After investing in India two years ago and launching a fund focused on the country, the firm has now sold nearly half of its stake in an Indian company, resulting in almost 2,000x returns. This successful exit marks the second known exit activity for Bessemer Venture Partners in 2024.
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Medi Assist buys Fairfax’s Paramount Health Services at ₹312 crore enterprise value | Mint
Livemint
·
11m ago
Medial
Indian healthcare firm Medi Assist has acquired Mumbai-based company Paramount Health Services and Insurance TPA for INR 311.8 crore ($41.8m). The deal will increase Medi Assist TPA's share of the group segment to 36.6% and its share of the health insurance sector to 23.6%. Paramount Health Services and Insurance TPA, owned by insurance company Fairfax Asia and entrepreneur Nayan Shah's family, collaborates with 30 insurers and has more than 3,000 group customers and retail policyholders. Medi Assist aims to position the combined business as a strategic partner to insurers through its AI and machine learning tools.
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Investcorp signing off from legacy India bet; Bessemer set for dream harvest
VCCircle
·
1y ago
Medial
Bahrain-based investment firm Investcorp is exiting its legacy portfolio investment in India, while Silicon Valley's Bessemer Venture Partners is planning to reap a more significant benefit than originally anticipated. Bessemer had originally intended to sell less than 25% of its stake in the portfolio company.
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Digital payment company Easebuzz bags $30 million lead by Bessemer
Economic Times
·
3m ago
Medial
Pune-based digital payments firm Easebuzz raised Rs 240 crore ($30 million) in a funding round led by Bessemer Venture Partners, marking its first major venture funding. This includes Rs 200 crore in primary capital and Rs 40 crore in secondary capital. Existing investors, 8i Ventures and Varanium Capital, also participated. With plans for an IPO in 2-3 years, Easebuzz aims to enhance brand building, attract talent, and explore cross-border payments while expanding in Southeast Asia and the Middle East.
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Stock Radar: Medi Assist, Matrimony, HAL, Premier Energies, Gensol Engg, Muthoot Finance in focus on Tuesday
Money Control
·
10m ago
Medial
In today's stock market, several stocks are in focus. Some notable ones include: 1. Medi Assist Healthcare Services: Promoter Bessemer India Capital Holdings plans to sell shares worth Rs 540 crore through a block deal. 2. Adani Green Energy: Approved a joint venture with TotalEnergies Renewables Singapore, with an investment of $444 million. 3. Hindustan Aeronautics: The Cabinet Committee on Security approved the procurement of aero-engines for the Indian Air Force. 4. Muthoot Finance: Its subsidiary, Belstar Microfinance, received SEBI approval for an IPO to raise Rs 1,300 crore. 5. Lemon Tree Hotels: Signed a license agreement for an 80-room hotel property in Gir, Gujarat. 6. Maruti Suzuki India: Reported a 2.1% increase in total production in August compared to the same period last year. 7. Welspun Corp: Approved a $100 million investment for upgrading manufacturing and coating capabilities in the USA. 8. Zee Entertainment Enterprises: Appointed Shiva Chinnasamy as Chief Technology & Product Officer. 9. ICICI Bank: Stated that no salary or employee stock option plans have been paid to Madhabi Puri Buch after her retirement. This is just a brief snapshot, and there is more news in the market.
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Innoviti bags Rs 70 crore in a mix of equity and debt; sets eyes on IPO
Economic Times
·
11m ago
Medial
Merchant-focused payments company Innoviti Technologies has raised Rs 70 crore ($8.3 million) in a recent funding round, with Rs 60 crore in equity infusion and Rs 10 crore in debt. The funding round was led by US-based venture fund Random Walk Solution, with participation from existing investors Bessemer Venture Partners, Patni family office, and Alumni Ventures. With this round, Innoviti has raised a total of approximately Rs 400 crore since its inception and achieved a valuation of $230 million. The company plans to go public within the next three to four months and will use the funds to grow its online merchant payment business.
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Orios Venture Partners sells about 3% stake in Country Delight for about Rs 225 crore
Economic Times
·
1y ago
Medial
Orios Venture Partners has sold approximately 3% stake in Country Delight, a D2C fresh food brand, for around Rs 225 crore. The stake was sold to Seviora, an asset management group backed by Temasek. Orios had previously invested Rs 15 crore in Country Delight. The company recently raised around $20 million in a funding round led by Temasek, valuing it at approximately $820 million. Orios Venture Partners has also invested in other companies like PharmEasy, Vedantu, and CarDekho.
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Lenskart pares losses by 84% in FY24, revenue grows 43% as opposed to being doubled a year ago
YourStory
·
8m ago
Medial
Lenksart, the omnichannel eyewear retailer, reduced its losses by 84% in FY24 to Rs 10.15 crore compared to Rs 63.7 crore the previous year. The company's operating revenue increased by 43.2% to Rs 5427.7 crore in FY24. The total expenses of Lenskart rose by 37%, with significant contributions from employee benefits, interest payments, and material costs. Fidelity, an asset management firm, marked up the valuation of its stake in Lenskart by 12% in September, bringing the company's valuation to $5.6 billion. Lenskart generated Rs 2271.6 crore from its operations outside of India in FY24.
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