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Grapevine: Licious in deal to acquire meat store, PE firms eye Novartis India unit

VCCircle

VCCircle · 10m ago

Grapevine: Licious in deal to acquire meat store, PE firms eye Novartis India unit

Temasek-backed Licious, the popular meat and seafood platform, is set to acquire My Chicken and More, a Bengaluru-based chain of offline stores. The deal, estimated at Rs 150-200 crore, will boost Licious' presence in Bengaluru. It will involve a combination of cash and equity, with additional earnout clauses. In other news, private equity firms are reportedly eyeing the India unit of pharmaceutical company Novartis, indicating investment interest in the sector.

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Grapevine: FlyDubai, Titan, ASG Eye, Adhunik Power, Lightstorm, Licious in news

VCCircle

VCCircle · 6m ago

Grapevine: FlyDubai, Titan, ASG Eye, Adhunik Power, Lightstorm, Licious in news

Lightstorm Telecom Connectivity has secured new funding, and Adhunik Power & Natural Resources is negotiating to refinance its debt with Edelweiss. Meanwhile, Titan and ASG Eye Hospitals are considering acquisitions. FlyDubai is exploring partnerships to establish a domestic carrier in India. Additionally, Temasek-backed Licious is also mentioned in recent news, although the specific context regarding Licious is not detailed.

Grapevine: KKR, JB Pharma, ONGC, Peak XV-backed Capillary, and Pernia in news

VCCircle

VCCircle · 9m ago

Grapevine: KKR, JB Pharma, ONGC, Peak XV-backed Capillary, and Pernia in news

KKR & Co. is exploring alternative monetization options after failing to reach a deal with private equity firms for the sale of its stake in JB Chemicals & Pharmaceuticals. Meanwhile, ONGC is considering a partnership with another state-owned unit to acquire Ayana Renewable Power. Additionally, Capillary, backed by Peak XV, and Pernia are also making headlines in the industry.

Temasek-backed Licious sets sights on $2 billion IPO in India

Economic Times

Economic Times · 6m ago

Temasek-backed Licious sets sights on $2 billion IPO in India

Licious, supported by Temasek Holdings, plans a $2 billion IPO in India by 2026. The company is striving for profitability and has been speeding up deliveries to enhance competitiveness. Valued at $1.5 billion in 2023, Licious is expanding brick-and-mortar stores and targeting the unorganized meat market. It aims for 50 stores by March 2026. Licious seeks readiness for its IPO within 12 months, driven by India's growing demand for online meat and seafood consumption.

Grapevine: Pine Labs, Harman, Apax, Bain, Carlyle, Diageo in news

VCCircle

VCCircle · 2m ago

Grapevine: Pine Labs, Harman, Apax, Bain, Carlyle, Diageo in news

Digital payments platform Pine Labs plans to file for an IPO with India's capital markets regulator. Simultaneously, several private equity firms are competing to acquire a controlling stake in Harman US's digital transformation services (DTS) unit.

Grapevine: PE-backed firms eye Sharp Sight; KKR pauses Lighthouse Learning sale

VCCircle

VCCircle · 1y ago

Grapevine: PE-backed firms eye Sharp Sight; KKR pauses Lighthouse Learning sale

The founders of Sharp Sight Eye Hospitals are considering selling a controlling stake, which would allow private equity investor InvAscent to exit the company. Investment bankers have been invited to bid for the opportunity to raise fresh capital and facilitate the exit. This comes as PE-backed eyecare chains ASG Eye Hospital and Eye-Q Vision plan to merge, eyeing potential consolidation in the industry. In other news, KKR has decided to temporarily pause the sale of Lighthouse Learning, a move that may have been influenced by the current market conditions.

Licious turning omnichannel with five stores in Bengaluru by June

Economic Times

Economic Times · 1y ago

Licious turning omnichannel with five stores in Bengaluru by June

Indian meat and seafood delivery service, Licious, plans to open five physical stores in Bengaluru by June and increase its store count to 35-40 in two-three cities by the end of the fiscal year. The startup aims to tap into new users in the offline channel and eventually have them transact online as well. Licious is also looking to achieve profitability on an EBITDA level by the end of FY25 and plans to have 500 stores across the country over the next five years. The company's main competitor is FreshToHome.

Grapevine: CVC Capital, Gujarat Titans, EQT, Indira IVF, Bajaj Group in news

VCCircle

VCCircle · 6m ago

Grapevine: CVC Capital, Gujarat Titans, EQT, Indira IVF, Bajaj Group in news

European private equity firms CVC Capital and EQT are planning to monetize investments in a cricket franchise and a healthcare company, respectively. Meanwhile, the Indian conglomerate Bajaj Group is reportedly entering the hospital sector. Additionally, CVC Capital’s unit Torrent Group is poised to acquire a 67% stake in the Indian enterprise. These activities underline the dynamic movements and expansions within the financial and healthcare sectors, highlighting strategic investment shifts among notable firms.

Grapevine: Blackstone, Carlyle, TPG, Hillhouse, Access Health, AstraZeneca in news

VCCircle

VCCircle · 8m ago

Grapevine: Blackstone, Carlyle, TPG, Hillhouse, Access Health, AstraZeneca in news

At least four global private equity firms, including Blackstone, Carlyle, TPG, and Hillhouse Partners, have submitted non-binding bids for healthcare outsourcing firm Access Healthcare. Meanwhile, AstraZeneca's India unit has reportedly cut over 125 jobs in its biopharmaceutical business. These updates highlight active interest from significant investment firms in healthcare outsourcing and job restructuring within the biopharmaceutical sector in India, as reported by various media sources.

Three PE firms seek CCI nod to acquire stake in bakery chain Theobroma

YourStory

YourStory · 1m ago

Three PE firms seek CCI nod to acquire stake in bakery chain Theobroma

Three private equity firms, including two affiliates of ChrysCapital—Infinity Partners and Atreides Investments BV—and Aqua Investments Ltd, seek Competition Commission of India (CCI) approval to acquire a stake in Mumbai bakery chain Theobroma. ChrysCapital aims for a 90% share, valuing Theobroma at approximately Rs 2,410 crore. The founders will retain a 10% stake. The deal reportedly involves no competitive risks and builds on ICICI Venture's previous investment. Theobroma, founded by Kainaz and Tina Messman, operates across India.

Lacking bite and funding, online meat ecosystem returns to the drawing board

Economic Times

Economic Times · 1y ago

Lacking bite and funding, online meat ecosystem returns to the drawing board

The online meat and seafood industry in India is facing challenges as consumers are returning to physical markets and inflation is raising input costs. The online market currently represents less than 1% of the overall meat and seafood market in the country. Despite significant investments from marquee investors, the sector is experiencing a slowdown in growth, leading to a reassessment of the customer base and valuations. Firms in the online meat segment are focusing on strengthening their unit economics and forming partnerships with offline players. Operational efficiency and wastage control remain key challenges in the industry.

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