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Exclusive: Nuvama Wealth backer PAG stitching new India deal after two-year gap

VCCircle

VCCircle · 9m ago

Exclusive: Nuvama Wealth backer PAG stitching new India deal after two-year gap

Asia Pacific alternative investment firm PAG is reportedly in talks to secure a new private equity deal in India. After a gap of two years, the firm is said to be in advanced discussions to make the investment. PAG manages over $55 billion in assets across the private equity, real estate, and credit sectors.

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PAG ropes in fourth co-investor for big-ticket India deal

VCCircle

VCCircle · 3m ago

PAG ropes in fourth co-investor for big-ticket India deal

PAG, a prominent Asia-Pacific-focused private equity firm managing over $3 billion in Indian assets, has enlisted a fourth co-investor for a significant control-oriented deal secured earlier this year. Headquartered in Hong Kong, PAG's Indian portfolio includes Nuvama Wealth Management, Sekhmet Pharmaventures, and Acme Formulation among others. This strategic move underscores PAG's commitment to expanding its investment footprint in India's growing market.

PAG-controlled Nuvama to challenge tribunal order in Supreme Court

VCCircle

VCCircle · 1y ago

PAG-controlled Nuvama to challenge tribunal order in Supreme Court

Indian wealth manager Nuvama Wealth Management, majority-owned by PAG, plans to contest an order by the Securities Appellate Tribunal (SAT) in the Supreme Court. The SAT dismissed an appeal by Nuvama Clearing Services, a subsidiary of Nuvama Wealth Management, relating to the mishandling of client securities by Anugrah Stock and Broking. Nuvama argues that penalizing a professional clearing member for a broker's misconduct is unjust and potentially detrimental to industry norms. The company maintains that the SAT ruling will have no material impact on its operations or long-term goals.

PAG, Nuvama Wealth, Blackstone, Warburg Pincus, and Turtlemint in news

VCCircle

VCCircle · 4m ago

PAG, Nuvama Wealth, Blackstone, Warburg Pincus, and Turtlemint in news

PAG has reportedly enlisted JP Morgan and Morgan Stanley to assist with its exit from Nuvama Wealth Management, having acquired a majority stake four years ago. This move might attract private equity firms looking to enter the wealth management sector.

Public investors not interested in funding tech firms’ losses: Nuvama's Satyen Shah

VCCircle

VCCircle · 6m ago

Public investors not interested in funding tech firms’ losses: Nuvama's Satyen Shah

Public investors are currently reluctant to fund the losses of tech firms, according to Satyen Shah, president and head of investment banking at Nuvama Group. Formerly known as Edelweiss Wealth Management, Nuvama is a leading financial services provider in India, controlled by Asia-focused private equity firm PAG. Their offerings span investment banking, wealth management, and asset management. Under Shah’s leadership, with over 20 years of experience, the group remains influential in the market.

OYO's valuation at $4.6 bn after Nuvama buys ₹100 cr stake: Report

Inshorts · 8m ago

OYO's valuation at $4.6 bn after Nuvama buys ₹100 cr stake: Report

OYO's valuation has reached $4.6 billion after Nuvama Wealth and Investment Ltd purchased its shares worth ₹100 crore, ET reported. Nuvama reportedly bought shares at ₹53 per share in a secondary transaction involving InCred Wealth and H World Group Ltd. The IPO-bound firm announced last month that CEO Ritesh Agarwal will buy shares worth ₹550 crore.

Nuvama Wealth net profit doubles to ₹178 crore in Q3

Livemint

Livemint · 1y ago

Nuvama Wealth net profit doubles to ₹178 crore in Q3

Nuvama Wealth Management, formerly known as Edelweiss Securities, reported a nearly doubled net profit of INR 178 crore ($23.8 million) for the December quarter, compared to INR 90 crore ($12 million) in the same period last year. The company's revenue rose 38% to INR 558 crore ($74.6 million), while expenses increased by 21% to INR 328 crore ($43.9 million). Nuvama also received approval from SEBI for its INR 3,000 crore ($401 million) realty fund joint venture with Cushman and Wakefield.

Mahindra PE arm makes an exit as its healthcare bet gets new PE backer

VCCircle

VCCircle · 1y ago

Mahindra PE arm makes an exit as its healthcare bet gets new PE backer

Mahindra Partners, the private equity arm of Mahindra Group, has exited its healthcare investment as the company secured a new backer with a $100 million investment. The deal includes primary and secondary components and marks the end of Mahindra's five-year involvement in the healthcare sector.

Madhuri, Gauri Khan bought OYO shares in recent months: Report

Inshorts · 7m ago

Madhuri, Gauri Khan bought OYO shares in recent months: Report

Madhuri Dixit, Gauri Khan and Amrita Rao are among the celebrities who have bought the unlisted shares of OYO in recent months, PTI reported. Gauri reportedly bought 2.4 million shares in a funding round last year where OYO raised over ₹1,400 crore from a consortium of investors. Nuvama Wealth reportedly also acquired ₹100-crore stake in OYO in December.

Exclusive: Wint Wealth Fires 20% Of Its Workforce

Inc42 · 1y ago

Exclusive: Wint Wealth Fires 20% Of Its Workforce

Fintech startup Wint Wealth has laid off around 20% of its workforce in a recent restructuring exercise. The layoffs impacted various departments, including marketing and sales. The company confirmed that this was part of a regular business performance evaluation. This development comes after Wint Wealth acquired a majority stake in NBFC Ambium Finserve. The company now holds an NBFC license and expects its loan book to grow to INR 500 crore by the end of 2024. Wint Wealth has previously raised $16 million in funding and has over 53,000 users on its platform.

Ashwin Sheth Group buys 50% stake, PAG pours ₹540 cr in posh south Mumbai tower

Livemint

Livemint · 2m ago

Ashwin Sheth Group buys 50% stake, PAG pours ₹540 cr in posh south Mumbai tower

Ashwin Sheth Group has acquired a 50% stake in the luxury residential project 'One Marina' in South Mumbai. The project, a stalled 74-storey tower, will receive a ₹540 crore credit finance boost from the Asia-focused investment firm PAG, targeting a gross development value of ₹2,300 crore. This two-way strategic deal allows existing lender J.C. Flowers Asset Reconstruction Pvt. Ltd an exit and aims to make One Marina a premium residential address in the area.

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