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Grapevine: ICICI Prudential, Yashoda Hospitals in IPO news; IIHL taps lenders

VCCircle

VCCircle · 6m ago

Grapevine: ICICI Prudential, Yashoda Hospitals in IPO news; IIHL taps lenders

ICICI Prudential Asset Management and Yashoda Hospitals are reportedly discussing initial public offerings (IPOs) with bankers. Concurrently, IndusInd International Holdings is negotiating to raise funds for acquiring Invesco Asset Management (India). Additionally, Sirona Hygiene's founders are nearing a deal to repurchase the women’s wellness brand. These activities indicate significant financial maneuvers within the Indian market, highlighting a phase of strategic investments and capital raising endeavors among notable companies.

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Grapevine: ICICI Bank, Prudential Plc, AkzoNobel, Pidilite Industries, and JSW Paints in news

VCCircle

VCCircle · 6m ago

Grapevine: ICICI Bank, Prudential Plc, AkzoNobel, Pidilite Industries, and JSW Paints in news

ICICI Bank is reportedly planning to acquire an additional 3% stake in ICICI Prudential Asset Management Co. Meanwhile, AkzoNobel N.V. is exploring options to sell its consumer paints business in India while retaining its industrial coatings division, according to media reports.

Grapevine: OTPP, Sahyadri Hospitals, and Accel-backed Bluestone in news

VCCircle

VCCircle · 8m ago

Grapevine: OTPP, Sahyadri Hospitals, and Accel-backed Bluestone in news

Ontario Teachers' Pension Plan (OTPP) is reportedly planning to divest its controlling stake in Sahyadri Hospitals, while Bluestone, a company backed by Accel, has gained board approval to launch an initial public offering (IPO). These developments have been highlighted in recent media reports.

Prudential considers listing Indian asset management joint venture

VCCircle

VCCircle · 6m ago

Prudential considers listing Indian asset management joint venture

Prudential, a British insurer, is contemplating listing its Indian joint venture, ICICI Prudential Asset Management. Its London shares rose over 8% following the announcement, which involves divesting part of its 49% stake and returning proceeds to shareholders. ICICI Bank owns 51% of the joint venture. A potential listing would depend on market conditions and approvals. India’s IPO market remains active, driven by offers for sale, enhancing the trend of shareholders selling existing shares for profit.

ICICI Prudential AMC finalises large team of bankers as IPO plan gets rolling

VCCircle

VCCircle · 2m ago

ICICI Prudential AMC finalises large team of bankers as IPO plan gets rolling

ICICI Prudential Asset Management Company Ltd, a joint venture between ICICI Bank and Prudential Plc, is progressing with plans for an initial public offering (IPO). As part of this endeavor, the company has enlisted a significant team of merchant bankers, according to sources. This strategic move reflects the company's status as India's second-largest mutual fund entity by assets, signifying its ambition to capitalize on the favorable market conditions and investor interest.

Swiggy raises $605 million from anchor investors as part of $1.35 billion IPO

Economic Times

Economic Times · 9m ago

Swiggy raises $605 million from anchor investors as part of $1.35 billion IPO

Swiggy, the food and grocery delivery company, has closed the anchor portion of its initial public offering (IPO) by allocating shares worth $605 million to both domestic and foreign investors. Over 75 investors, including BlackRock, Fidelity, ICICI Prudential Mutual Fund, and HSBC, participated in the anchor investment round. Domestic insurance companies such as ICICI Prudential Life, HDFC Life, and SBI Life, as well as global investors like Norges and Capital Group, also joined in. The IPO, set at a valuation of $11.3 billion, will launch on Wednesday and is expected to be one of India's largest this year.

RCap lenders move NCLAT for forfeiture of funds in escrow account | Mint

Livemint

Livemint · 1y ago

RCap lenders move NCLAT for forfeiture of funds in escrow account | Mint

The Committee of Creditors (CoC) of Reliance Capital has filed an application seeking forfeiture of IndusInd International Holdings Ltd's equity component in case of default by the company. The lenders are seeking modification of the order that allowed IIHL to take over Reliance Capital. They have also requested payment of interest on the debt component from IIHL. IIHL was required to deposit funds in escrow accounts as part of the approved plan, but filed an application seeking modification of the order. The forfeiture of funds is aimed at protecting the lenders' interests.

Zee’s largest shareholder, ICICI Prudential Mutual Fund, sells 42% of holding

Livemint

Livemint · 1y ago

Zee’s largest shareholder, ICICI Prudential Mutual Fund, sells 42% of holding

ICICI Prudential Mutual Fund, the largest shareholder of Zee Entertainment Enterprises Ltd., has sold 42% of its holding in the company following the cancellation of the merger between Zee and Sony Corp. ICICI Prudential Mutual Fund's stake now stands at 5.09%, making it the third-largest shareholder. Nippon Mutual Fund is now the largest shareholder with 6.12%, while Life Insurance Corp of India holds 5.12%. The sale of shares earned ICICI Prudential Mutual Fund ₹365.7 crore ($49.7 million). The buyer of the shares remains undisclosed.

ICICI Prudential AMC to take over PE, VC, real estate funds from ICICI Venture

VCCircle

VCCircle · 3m ago

ICICI Prudential AMC to take over PE, VC, real estate funds from ICICI Venture

ICICI Prudential Asset Management Co Ltd is set to acquire private equity, venture capital, and real estate fund management businesses from ICICI Venture, as part of the companies' internal agreement. The acquisition, detailed in a stock exchange filing, has received in-principle approval from their respective boards and is subject to regulatory clearance. This move will allow ICICI Prudential AMC to offer an integrated range of investment asset classes, though ICICI Venture will continue some advisory roles.

Grapevine: Acko General Insurance, Udaan, NLC India, Jio Financial in news

VCCircle

VCCircle · 10m ago

Grapevine: Acko General Insurance, Udaan, NLC India, Jio Financial in news

Acko General Insurance investors may sell their stake in a secondary round, while Udaan is seeking new funding led by M&G Prudential. NLC India is considering listing its subsidiary, NLC India Renewables, and Jio Financial is planning to expand its presence in the insurance sector.

Grapevine: Apollo Hospitals, Xander Group, Art Fertility, Relisys Medical in news

VCCircle

VCCircle · 2m ago

Grapevine: Apollo Hospitals, Xander Group, Art Fertility, Relisys Medical in news

Apollo Hospitals and Xander Group plan to offload some assets, while Art Fertility, Relisys Medical, and Battery Smart are actively seeking new investors. Apollo Hospitals is considering divesting its maternity and infant care unit. The information comes from various media reports indicating strategic asset management and investment initiatives within these organizations as they explore portfolio adjustments and growth opportunities through potential new partnerships and investors.

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