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News on Medial
Grapevine: Blackstone JV plans IPO; Pernod Ricard may sell whisky brand
VCCircle
·
1y ago
Medial
Ventive Hospitality, a joint venture between Blackstone Group and Panchshil Realty, is reportedly planning an initial public offering (IPO). The company intends to raise about Rs 2,500 crore through a fresh share issue. JM Financial and Kotak Mahindra Capital have been appointed to manage the IPO process. Additionally, Pernod Ricard may sell its whisky brand, further signaling possible changes in the alcohol industry.
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Allied Blenders and Distillers files for $180-mn IPO
VCCircle
·
1y ago
Medial
Indian liquor company Allied Blenders and Distillers (ABD) has filed for an initial public offering (IPO) to raise up to $180 million. ABD plans to issue new shares worth $120 million, which will be used to reduce outstanding borrowings. Additionally, existing shareholders will sell shares worth up to $60 million. ABD, known for its whisky brands Officer's Choice and Sterling Reserve, operates in India's estimated $33 billion spirits market. The filing comes as competition intensifies in the market dominated by players like Diageo and Pernod Ricard.
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Pernod India's legal head to join Google amid antitrust, criminal probes
Economic Times
·
1y ago
Medial
Bijoya Roy, the legal head of Pernod Ricard in India, has resigned and will join Google as its top India counsel in November. This departure comes at a time when Pernod Ricard is facing multiple legal and regulatory challenges in the Indian market. Roy's resignation may impact Pernod's legal and compliance division in India. The French drinks group is currently dealing with investigations, legal cases, and a tax demand in India. Meanwhile, Google is also facing antitrust investigations in the country.
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Pernod Ricard high on India despite Maharashtra bottlenecks
Economic Times
·
3m ago
Medial
Pernod Ricard's CEO, Alexandre Ricard, noted the positive impact of selling the Imperial Blue brand on India's margins and growth. However, a recent 50% excise hike in Maharashtra could hinder sales this financial year. Despite challenges, India remains a high-priority market, accounting for 13% of global sales. Ricard emphasized strong long-term growth prospects, especially with premiumisation trends, although Maharashtra's policy might dampen growth in the short term.
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CCI approves Tilaknagar Industries proposal to acquire Pernod Ricard's Imperial Blue biz
Economic Times
·
2m ago
Medial
Tilaknagar Industries received clearance from India’s fair trade regulator, CCI, for its acquisition of Pernod Ricard's Imperial Blue whisky business for approximately Rs 4,150 crore. This move strengthens Tilaknagar as a leading player in the whisky market. The acquisition was agreed upon at an enterprise value of 412.6 million Euros. With the purchase, Tilaknagar aims to bolster its market position in the alcohol industry, especially around the popular Imperial Blue brand.
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Shark Tank India-featured Proost Beer raises Rs 25 crore in a pre-Series A round
IndianStartupNews
·
2y ago
Medial
Delhi-based beer brand Proost Beer has raised Rs 25 crore in a pre-Series A funding round. The funds will be used for strategic expansion plans, enhancing production capabilities, and entering new markets. Proost Beer, founded in 2017, aims to capture 5% of the Indian beer market by the end of the decade. The company faces competition from established players like Diageo and Pernod Ricard India, as well as startups like Bira91 and White Owl Brewery. With the Indian beer market projected to reach Rs 62,240 crore by 2028, Proost Beer's progress will be worth watching.
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Grapevine: Da Milano, EPL, Blackstone, Temasek, SavraGram in news
VCCircle
·
1y ago
Medial
Da Milano Italia, a luxury fashion brand, may see the promoter family explore the sale of their stake in the company. Private equity firm Blackstone is considering an exit from one of its portfolio firms that specializes in specialty packaging. Additionally, Temasek, a Singapore-based investment company, is rumored to be planning to increase its stake in SarvaGram, a rural credit startup. These developments were reported in various media outlets.
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Grapevine: Blackstone, Horizon Industrial, Goldman Sachs, PeopleStrong in news
VCCircle
·
11m ago
Medial
Blackstone is reportedly planning to launch an IPO for Horizon Industrial Parks, while Goldman Sachs is in talks to acquire a majority stake in PeopleStrong.
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Blackstone-owned International Gemmological Institute files for $477 mn IPO
VCCircle
·
1y ago
Medial
International Gemmological Institute (IGI), owned by Blackstone, has filed for an initial public offering (IPO) worth $477 million. IGI, which grades diamonds, gemstones, and jewelry, plans to issue new shares worth $164 million and existing shareholders will sell shares worth $312 million. The IPO will be managed by Axis Capital, Kotak Mahindra Capital, Morgan Stanley India, and SBI Capital Markets. Blackstone intends to use the proceeds for payments related to acquisitions in IGI Belgium and IGI Netherlands.
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Grapevine: Imperial Blue, KKR, OTPP, Akzo Nobel, InCred, and Enel Group in news
VCCircle
·
11m ago
Medial
The sale process of Pernod Ricard's Imperial Blue whiskey, Akzo Nobel India Ltd, and Enel Group's renewable energy assets in India is progressing, as reported by various media outlets. Additionally, KKR and OTPP are planning to invest in Highways Infrastructure Trust, while InCred Financial Services Ltd has announced its plans.
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TPG, Everstone Capital, Niva Bupa, Blackstone, OTT platform Stage in news
VCCircle
·
1y ago
Medial
TPG is planning to launch a green financing platform in India, while Blackstone is considering acquisitions in the Indian hotel sector. Everstone Capital has temporarily suspended its plans to sell its stake in Restaurant Brands Asia, and Niva Bupa Health Insurance is preparing for its IPO.
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