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INOXGFL Group plans to sell majority stake in C&I business

Livemint

Livemint · 1y ago

INOXGFL Group plans to sell majority stake in C&I business

INOXGFL Group is planning to sell a majority stake worth approximately $200 million in its commercial and industrial (C&I) business. The company has hired EY for the transaction, with the majority stake sale likely to involve primary infusion. INOXGFL Group aims to set up a C&I vertical to meet its captive power demand. The C&I segment in India has attracted significant investor interest due to the ability for large power users to source energy from the open market and the implementation of time of day tariffs by state electricity regulatory commissions.

Related News

NCLT clears merger of Inox Wind units

Economic Times

Economic Times · 2m ago

NCLT clears merger of Inox Wind units

The National Company Law Tribunal has approved the merger of Inox Wind Energy Limited (IWEL) with Inox Wind Limited (IWL), enhancing the INOXGFL Group's business structure in clean energy. The merger aims to improve financial health by reducing debt by ₹2,050 crore and increasing operational efficiency through better resource management and streamlined processes. This consolidation also eliminates the need for a separate holding company, giving INOXGFL Group promoters a direct stake in Inox Wind.

Grapevine: CVC in talks to sell IPL team stake; ENGIE to monetize renewable assets

VCCircle

VCCircle · 1y ago

Grapevine: CVC in talks to sell IPL team stake; ENGIE to monetize renewable assets

Private equity firm CVC Capital Partners is reportedly in discussions with Adani Group and Torrent Group to sell a controlling stake in the Indian Premier League (IPL) team, Gujarat Titans. CVC intends to sell a majority stake while retaining a minority ownership, according to sources. In another news, ENGIE, a French power company, is exploring options to monetize its renewable assets through a potential IPO or asset swap deals.

Vodafone Idea-Indus Tower stake sale: Telecom major sells shares worth $2 bn

Livemint

Livemint · 1y ago

Vodafone Idea-Indus Tower stake sale: Telecom major sells shares worth $2 bn

Vodafone Group plans to sell nearly 18% of its stake in Indus Towers, worth up to $2 billion. Initially intending to sell only 10%, Vodafone plans to utilize the proceeds to pay off its debts. The stake sale is scheduled for June 19, with shares expected to be sold for a range of 310 to 341 rupees. This news follows Bharti Airtel's announcement of acquiring an additional 1% stake in Indus Towers.

Whirlpool to sell 24% stake in India business to reduce debt

Reuters · 1y ago

Whirlpool to sell 24% stake in India business to reduce debt

Whirlpool plans to sell up to 24% of its stake in Whirlpool of India to alleviate debt, following the Indian unit's 23.7% drop in Q2 profit due to competition and pricing pressures. The sale won't impact Whirlpool's full-year forecast. Despite challenges, Whirlpool sees India as a vital growth market, committing to expansion through new product launches and the recently acquired Elica India business. The company will maintain a majority interest post-sale.

WeWork’s India Exit Deal Falls Through Amid Sector Revival

Inc42 · 11m ago

WeWork’s India Exit Deal Falls Through Amid Sector Revival

WeWork's plans to sell its stake and exit its Indian unit have fallen through due to a disagreement over valuation. The coworking company currently holds a 27% stake in the Indian unit, while the remaining 73% is owned by real estate company Embassy Group. WeWork had intended to sell its remaining stake in April through a secondary transaction worth INR 1,200 Cr.

Manipal consolidates training biz under UNext after buying out PremjiInvest

VCCircle

VCCircle · 1y ago

Manipal consolidates training biz under UNext after buying out PremjiInvest

Manipal Group, led by Chairman Ranjan Pai, is consolidating its training business under UNext. This move comes after the group acquired PremjiInvest. The group has recently made headlines for selling a majority stake in its hospital arm and investing in Aakash Education, a company backed by Blackstone. The consolidation of the training business aims to strengthen Manipal's position in the education and training sector.

NODWIN To Raise Funding, Will No Longer Be Nazara Subsidiary

Inc42 · 1m ago

NODWIN To Raise Funding, Will No Longer Be Nazara Subsidiary

NODWIN Gaming, a subsidiary of Nazara Technologies, plans to raise capital from existing investors for expansion. Despite this, Nazara will not participate in the fundraising, leading to a dilution of its stake and loss of majority control. While Nazara won't sell any existing shares, the decision means giving up certain controlling rights as the majority owner. This strategic move marks a significant shift in NODWIN's ownership dynamics.

Serentica wants $300 million. A stake sale is likely.

Livemint

Livemint · 1y ago

Serentica wants $300 million. A stake sale is likely.

Serentica Renewables, backed by Sterlite Power, is looking to raise approximately $300 million by selling a minority stake to finance its growth plans. The company, focused on the commercial and industrial (C&I) segment, intends to develop 4 GW of renewable energy capacity, including 2.55 GW of solar power and 1.4 GW of wind power. This move comes as the C&I segment in India attracts strong investor interest due to the country's projected green energy trajectory and regulations allowing large power users to procure energy from the open market rather than the grid.

Adani acquires 50.5% stake in IANS, making presence stronger in media sector

Livemint

Livemint · 1y ago

Adani acquires 50.5% stake in IANS, making presence stronger in media sector

Adani Group has acquired a 50.5% stake in news agency IANS India Pvt Ltd, further expanding its presence in the media sector. Adani Enterprises, the holding company's media arm, disclosed in a regulatory filing that its subsidiary AMG Media Networks Ltd purchased the stake. This move follows Adani's previous acquisitions of Quintillion Business Media and a majority stake in broadcaster NDTV. Adani Group aims to invest ₹7 trillion ($84 billion) in infrastructure over the next decade.

'Interested only in bidding for AAI stake in Mumbai, other AAI airports'

Livemint

Livemint · 1y ago

'Interested only in bidding for AAI stake in Mumbai, other AAI airports'

The Adani group will bid for the Airports Authority of India's (AAI's) stake in Mumbai airport but will not bid for AAI's stake in Delhi, Bengaluru, and Hyderabad airports, according to Karan Adani, the managing director of Adani Ports and Special Economic Zone (APSEZ). The group plans to bid only for airports that the government plans to put up for auction. Adani also stated that the group is focused on branding and strengthening its core businesses, which includes ports, airports, and energy. The Adani group is currently the majority stakeholder in Mumbai International Airport Ltd.

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