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Bharti Enterprises to invest Rs 313 cr in Eutelsat under fresh capital raise plan

Economic Times

Economic Times · 2m ago

Bharti Enterprises to invest Rs 313 cr in Eutelsat under fresh capital raise plan

Bharti Enterprise's space venture will invest €31.4 million in Eutelsat's €1.35 billion capital raising plan to reduce debt and expand satellite constellations. The French government will invest €526.4 million in Eutelsat, becoming the largest shareholder with a 29.99% stake, while Bharti Space will own 18.7%. Other investors include CMA CGM and FSP. Eutelsat plans a 10-year agreement with France's Ministry of the Armed Forces to enhance military and civilian satellite resources.

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Bharti Space To Invest Additional INR 1,204 Cr In Eutelsat

Inc42 · 1m ago

Bharti Space To Invest Additional INR 1,204 Cr In Eutelsat

Bharti Space Limited, part of Bharti Enterprises, plans to invest an additional €120 million (around INR 1,204 crore) in the French satellite operator, Eutelsat. This investment supplements a prior commitment of €30 million, increasing Bharti's contribution as part of Eutelsat’s larger €1.5 billion rights issue. Following this deal, Bharti Space's shareholding in Eutelsat will reduce from 24.09% to 17.88%, aligning with the UK government’s participation in the fundraising effort.

Bharti-backed Eutelsat Group lists on London Stock Exchange

Livemint

Livemint · 1y ago

Bharti-backed Eutelsat Group lists on London Stock Exchange

Bharti Enterprises-backed Eutelsat Group has listed its shares on the London Stock Exchange (LSE). This move comes after the completion of the merger between Eutelsat Communications and OneWeb, in which Bharti Enterprises has a stake. The newly-formed Eutelsat Group, with OneWeb holding a 50% stake, will be listed on the LSE. Bharti Enterprises will be the largest shareholder in the entity, with Sunil Bharti Mittal serving as co-chairperson. The combined entity offers satellite services through a combination of geostationary earth orbit (GEO) and low-Earth orbit (LEO) satellites.

Elevation Capital raises Wakefit stake in run-up to IPO; buys Rs 32 crore employee shares - The Economic Times

Economic Times

Economic Times · 2m ago

Elevation Capital raises Wakefit stake in run-up to IPO; buys Rs 32 crore employee shares - The Economic Times

Elevation Capital increased its stake in Wakefit by purchasing shares worth Rs 32.5 crore from current and former employees, as the company prepares for an IPO. The shares were bought at Rs 1,600 each, alloted under Wakefit's 2019 employee stock option plan. Wakefit, which filed its draft red herring prospectus, plans to raise Rs 468 crore through fresh capital. Elevation Capital chose not to participate in the offer-for-sale component of the IPO.

OneWeb set to offer services in India soon as Eutelsat-OneWeb merger finalised

Livemint

Livemint · 1y ago

OneWeb set to offer services in India soon as Eutelsat-OneWeb merger finalised

Eutelsat Communications SA and OneWeb have completed an all-share merger, creating Eutelsat Group with OneWeb as its subsidiary. Bharti Enterprises will be the largest shareholder. The merged entity, headquartered in Paris, aims to provide broadband connectivity globally, especially in countries that lack digital infrastructure. The launch of services in India is pending the government's decision on spectrum allocation. The combined GEO-LEO service will offer integrated connectivity services and is projected to achieve significant revenue growth by 2027.

Meesho files confidential prospectus for its IPO - The Economic Times

Economic Times

Economic Times · 1m ago

Meesho files confidential prospectus for its IPO - The Economic Times

Ecommerce platform Meesho has confidentially filed a draft red herring prospectus with the Securities and Exchange Board of India (Sebi) for its initial public offering (IPO) to raise around Rs 4,250 crore ($500 million). The filing, done under Sebi’s pre-filing route, permits companies to keep prospectus details confidential. Meesho’s shareholders recently approved the IPO plan, seeking fresh capital to support the company’s growth and expansion strategies.

Manipal, Fortis in talks to raise Rs 5,000 cr for Sahyadri Hospitals bid

Economic Times

Economic Times · 2m ago

Manipal, Fortis in talks to raise Rs 5,000 cr for Sahyadri Hospitals bid

Manipal Health Enterprises and Fortis Healthcare are in discussions with foreign lenders to raise up to Rs 5,000 crore for bidding on Sahyadri Hospitals, a multispecialty hospital chain. Ontario Teachers' Pension Plan (OTPP), owning a 98.9% stake in Sahyadri, is selling it less than three years after acquiring control from Everstone Capital. Sahyadri operates 11 hospitals across Maharashtra and is a prominent entity in the ongoing consolidation of India's hospital sector.

Bharti Enterprises exits Del Monte India as Agro Tech Foods takes over

YourStory

YourStory · 7m ago

Bharti Enterprises exits Del Monte India as Agro Tech Foods takes over

Agro Tech Foods, backed by Samara Capital, is set to acquire Del Monte India's operations from Bharti Enterprises, transforming Del Monte Foods Pvt Ltd into its wholly-owned subsidiary. This acquisition involves a significant share distribution, with Bharti and DMPL India receiving stakes in Agro Tech Foods. Sunil Bharti Mittal's Bharti Enterprises is exiting its joint venture established with Del Monte Pacific in 2004. Following the $1,300 crore share-swap deal's completion, Bharti becomes Agro Tech’s second-largest shareholder.

Kedaara-backed Veritas Finance receives SEBI approval for IPO

VCCircle

VCCircle · 3m ago

Kedaara-backed Veritas Finance receives SEBI approval for IPO

Veritas Finance, backed by Kedaara Capital and Norwest Venture Partners, has received SEBI approval for its IPO, aiming to raise Rs 2,800 crore. The IPO includes a fresh issue of shares worth Rs 600 crore and an offer for sale by existing shareholders of Rs 2,200 crore. Norwest, Kedaara, BII, Lok Capital, and Growth Catalyst plan to sell part of their holdings. Other shareholders such as Multiples PE and IFC are not participating in the IPO.

Alteria Capital announces final close of Fund III at Rs 1,550 Cr

Entrackr

Entrackr · 1y ago

Alteria Capital announces final close of Fund III at Rs 1,550 Cr

Mumbai-headquartered venture debt firm Alteria Capital has announced the final close of its third fund at Rs 1,550 crore (approximately $187 million). The fund was oversubscribed with a target size of Rs 1,000 crore and a green shoe option. Alteria Capital, which has backed startups such as Rebel Foods, BlueStone, OneCard, Ather and Captain Fresh, will continue backing startups across consumer brands, e-commerce, fintech, logistics, business-to-business platforms, rural and agritech, healthcare, and climate tech. It will also evaluate companies in the Gen AI and spacetech segments. While it closed the venture debt scheme at Rs 1,550 crore, the shorter duration scheme, currently under subscription, is expected to raise around $105 million. The shorter duration scheme is likely to see its final close by the end of 2024. It will be available to all portfolio companies with the average cheque size ranging between Rs 3 crore and Rs 100 crore. The fund has already deployed 50% of the total capital commitments to portfolio companies, including OneCard, Renee Cosmetics, Samunnati, Blissclub, Rebel Foods, Giva, Lead School, Kissht, Captain Fresh, Traya, BlueStone and Ather.

Bharti to acquire minority stake in British telecom giant BT for $4 bn

VCCircle

VCCircle · 1y ago

Bharti to acquire minority stake in British telecom giant BT for $4 bn

Indian telecommunications company Bharti Enterprises has announced its plan to acquire a 24.5% stake in BT, the UK's biggest broadband and mobile company. Bharti will pay about $4 billion to buy out BT's top investor, Patrick Drahi, as his Altice group struggles with high debts. Bharti currently owns Bharti Airtel, which operates in 17 countries. The deal is awaiting national security clearance from the UK government before the remaining stake can be acquired. Bharti has stated its support for BT's executive team and strategy in building the country's fiber network.

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