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JP Morgan leases office in Mumbai’s BKC in Rs 1,000-cr rental deal
Economic Times
·
1m ago
Medial
JP Morgan has pre-leased over 116,210 sq ft of office space for ten years in Sumitomo's commercial tower at Mumbai's Bandra-Kurla Complex (BKC). The lease, requiring a monthly rent of Rs 6.91 crore, is renewable for three additional five-year terms. Total rental is estimated over Rs 2,500 crore for 25 years. The space, located on the 11th and 12th floors, will likely serve as JP Morgan’s India headquarters.
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JSW Ventures leads Rs 40 Cr investment round in Stayvista
YourStory
·
1m ago
Medial
JSW Ventures led a Rs 40 crore investment round in villa rental company Stayvista, with participation from DSG Consumer Partners and Capri Global Family Office. The funds will be used for expansion, team strengthening, and customer experience enhancement. Stayvista, managing 1,000 properties across 85 locations, is India's largest villa hospitality brand. With rising disposable incomes, the vacation rental market is projected to grow significantly. Stayvista aims to capitalize on the shift towards alternative accommodations.
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Lexdale international to offload Nykaa shares worth INR 490 Cr
Inc42
·
1y ago
Medial
Lexdale International is planning to sell 2.62 crore shares of Nykaa, the beauty ecommerce giant, through open market transactions. The deal, managed by brokerage firms Morgan Stanley and JP Morgan, is expected to be valued at INR 490 crore. Nykaa has experienced consistent growth across its business verticals, with its beauty and personal care arm projected to grow by mid-twenties in terms of gross merchandise value.
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SBI MF, Morgan Stanley, Goldman Sachs, and others buy 1.8% stake in Bajaj Finserv for Rs 5,506 Cr
YourStory
·
2m ago
Medial
State Bank of India Mutual Fund, Morgan Stanley, and Goldman Sachs collectively acquired a 1.8% stake in Bajaj Finserv for Rs 5,506 crore from promoters. Other institutional buyers included JP Morgan India and Citigroup Global. The sale involved 2.86 crore shares at Rs 1,925.20 each, reducing the promoters' stake to 58.84%. Separately, Wabco Asia sold a 3.16% stake in ZF Commercial Vehicle Control Systems India for Rs 792 crore, with multiple institutional buyers participating.
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Hertz Starts $750 Million Debt Sale to Bolster Balance Sheet
Livemint
·
1y ago
Medial
Hertz Global Holdings is seeking to raise $750 million through a two-part junk bond offering. The car rental company plans to use the proceeds to strengthen its balance sheet, following issues with its electric vehicle fleet. The offering includes $500 million of first-lien secured notes and $250 million of second-lien exchangeable notes. JP Morgan is leading the deal, and Hertz has already received anchor orders from investors. The company's credit rating has been downgraded as a result of the planned offering.
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JP Morgan Chase India appoints Pranav Chawda as CEO after RBI approval | Mint
Livemint
·
9m ago
Medial
Pranav Chawda has been appointed as the new CEO of JP Morgan Chase India. He currently heads the commercial banking unit of JP Morgan and will assume the role for a three-year term. Chawda's appointment has been approved by the Reserve Bank of India. With over 20 years of experience in the banking sector, Chawda is expected to drive the corporate banking business forward in India. JP Morgan Chase India has offices in Mumbai, Bengaluru, and Hyderabad, and offers a range of financial services.
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JP Morgan CEO is bullish on India but not 'as a counter to China'
Inshorts
·
1y ago
Medial
At the JP Morgan Global Markets Conference, CEO Jamie Dimon praised India's bright future, citing improvements in infrastructure and financial systems but avoided downplaying China's significance. Dimon noted India as a "natural ally" for its democratic heritage. JP Morgan plans to invest and expand its technology, trading, research, and investment banking operations in the country.
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Sachin Bansal's Navi Finserv quadruples standalone PAT in FY24 after subsidiary sale
YourStory
·
10m ago
Medial
- Navi Finserv Limited (NFL) reports strong standalone revenue growth of 48.57% in fiscal year 2024 (FY24), reaching Rs 1,906 crore. - On a consolidated basis, NFL's revenue declined by 6.5%, mainly due to divesting its stake in Chaitanya India Fin Credit (CIFCPL) in FY23. - NFL's standalone net profit nearly quadrupled to Rs 668.82 crore in FY24, while the consolidated net profit more than doubled to Rs 545.07 crore. - Total expenses increased by 48.4% on a standalone basis, driven by a significant rise in employee benefit costs. - NFL disbursed Rs 3,097.82 crore under co-lending agreements in FY24 and closed a $38 million personal loans securitisation deal with JP Morgan.
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IndiGo co-founder Rakesh Gangwal to sell 3.3% stake in InterGlobe Aviation
Livemint
·
1y ago
Medial
IndiGo co-founder Rakesh Gangwal is planning to sell 3.3% of his stake in InterGlobe Aviation Ltd through a block deal. The sale, estimated to be worth $450 million, will see Gangwal's stake decrease to 8.42%. It follows similar stake sales by Gangwal in the past. Morgan Stanley, JP Morgan, and Goldman Sachs will manage the sale on behalf of the promoter. IndiGo's stock has risen 67.35% in the past year. This move is part of Gangwal's plan to gradually reduce his stake in the company.
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Pine Labs to file DRHP for Rs 5,000-6,000 crore IPO by June-end
Economic Times
·
1m ago
Medial
Pine Labs, a merchant payments and lending firm, plans to file its draft red herring prospectus (DRHP) with SEBI by June, aiming for a Rs 5,000-6,000 crore IPO, targeting a $4-5 billion valuation. The company has appointed Axis Capital, JP Morgan, and others as bankers. Pine Labs reported Rs 1,743 crore in revenue for FY24 with a Rs 339 crore loss before tax. It previously attempted a US listing in 2022.
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Here's how Urban Company plans to use its IPO proceeds
Economic Times
·
3m ago
Medial
Urban Company plans an IPO to raise Rs 1,900 crore, with Rs 429 crore as fresh issue and Rs 1,471 crore as an offer for sale by existing shareholders including Accel, Tiger Global, and others. The proceeds will fund technology development, cloud infrastructure, office leases, and marketing between 2026 and 2028. Urban Company reported Rs 846 crore operating revenue in nine months of FY25, with a net profit of Rs 242 crore, marking significant growth and profitability.
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