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News on Medial
Torrent Group acquires 67% stake in Gujarat Titans; BCCI gives approval
Business Today
·
4m ago
Medial
Torrent Group has acquired a 67% stake in Gujarat Titans, with the Board of Control for Cricket in India (BCCI) approving the move. The remaining 33% minority stake is held by Irelia Company. Gujarat Titans, captained by Shubman Gill and coached by Ashish Nehra, made an impressive mark by winning the Indian Premier League (IPL) in their debut season.
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CVC Capital to sell majority stake in IPL team Gujarat Titans to Torrent
VCCircle
·
5m ago
Medial
Private equity firm CVC Capital is selling a 67% stake in the Indian Premier League team Gujarat Titans to Torrent Group after three years. CVC will retain 33%, and the sale comes as the ownership lock-in period ends. Though financial terms weren't disclosed, media suggests the deal could be around Rs 7,500 crore ($866 million). CVC won the franchise in 2021 and has other sports investments including La Liga. The transaction awaits BCCI approval.
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Grapevine: CVC in talks to sell IPL team stake; ENGIE to monetize renewable assets
VCCircle
·
1y ago
Medial
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.
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Grapevine: Torrent may buy into CVC-backed Gujarat Titan; Alkem gets PE suitors
VCCircle
·
10m ago
Medial
Torrent Group is reportedly in talks to acquire a majority stake in the Indian Premier League franchise, Gujarat Titans, from CVC Capital Partners once the ownership lock-in period ends in February 2025. Adani Group, which was initially interested in the acquisition, has reportedly withdrawn from the race. In other news, pharmaceutical company Alkem is said to be attracting interest from private equity investors.
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Grapevine: CVC Capital, Gujarat Titans, EQT, Indira IVF, Bajaj Group in news
VCCircle
·
5m ago
Medial
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.
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3one4 Capital-Backed Wint Wealth Acquires Ambium
Inc42
·
1y ago
Medial
Bengaluru-based fintech startup Wint Wealth Group has acquired a majority stake in Chandigarh-based non-banking financial company (NBFC) Ambium Finserve. The deal, which has received approval from the Reserve Bank of India, provides Wint Wealth Group with an NBFC license. Ambium Finserve has started wholesale lending operations under the brand name Wint Capital, focusing on lending to growth-stage NBFCs for onward lending. Wint Capital's loan book is expected to grow to INR 500 crore by the end of 2024. Wint Wealth Group, founded in 2020, helps customers navigate fixed deposits, corporate and sovereign gold bonds, and bond baskets.
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Newsbreak confirmed: Hinduja Group's IIHL acquires 60% stake in Invesco India Asset Management
Money Control
·
1y ago
Medial
IndusInd International Holdings Limited (IIHL), part of India's Hinduja Group, is set to acquire a 60% stake in Invesco Asset Management India Limited (IAMI). IIHL, a Mauritius-based investment holding company, will form a joint venture with the global investment management firm Invesco Ltd. Invesco will retain a 40% stake in the newly formed JV. IAMI, the Indian arm of Invesco Ltd, is the fifth largest foreign asset manager in India. The deal is subject to regulatory approval.
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Veranda Learning acquires 40.41% Stake in BB Virtuals and 65% in Navkar Digital
Entrackr
·
5m ago
Medial
Veranda Learning acquires 40.41% Stake in BB Virtuals and 65% in Navkar Digital Veranda Learning Solutions has acquired a 40.41% stake in the CA coaching class BB Virtuals and a 65% stake in the offline coaching provider in Gujarat, Navkar Digital. Veranda Learning will buy an additional 10.59% stake in BB Virtuals by June 2025. This will strengthen Veranda Learning's position in commerce education across India, and its commerce division is expected to reach a pro forma EBITDA of over Rs 120 crore for FY25. Founded in 2018 by Kalpathi AGS Group, Veranda is a publicly listed digital learning platform offering test prep for government exams, banking, insurance, railways, and more. In December last year, Veranda Learning Solutions received approvals to raise Rs 250 crore through a preferential issue. Started by Bhanwar Borana, BB Virtuals is an online platform for CA and commerce aspirants. BB Virtuals claims to have trained over 200,000 students online, producing more than 500 all-India rank-holders. With BB Virtuals’ strong online presence, Veranda will amplify its reach, offering a wider range of resources to support students pursuing professional qualifications in the Commerce segment. Navkar Digital is a well-established offline education platform for chartered accountancy (CA), company secretary (CS), and cost & management accountancy (CMA) aspirants in Gujarat.
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Torrent Pharma in talks with CVC, Bain Capital to raise funds for Cipla buyout
Livemint
·
1y ago
Medial
Indian pharmaceutical company, Torrent Pharmaceuticals, is in discussions with private equity firms CVC Capital Partners and Bain Capital to secure funds for acquiring a stake in Cipla. The company aims to raise up to $1.5 billion for the bid, which could potentially become one of India's largest pharmaceutical deals. Cipla's founding family is reportedly interested in selling their entire 33.4% stake, with additional stake acquisition potential under Indian regulations. Foreign banks, including Morgan Stanley and Barclays, are also in talks with Torrent to arrange potential debt financing for the deal.
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Torrent Gas to consider $450 million IPO in Mumbai: Reports
Economic Times
·
17h ago
Medial
India’s Torrent Gas Ltd. is planning an initial public offering (IPO) in Mumbai, potentially raising about $450 million. The city gas distribution unit of Torrent Group has invited investment banks to pitch for roles in the share sale. The possible IPO could value Torrent Gas at around $3 billion, with proceeds likely used for capital expenditure and debt reduction. Details are still being discussed, and the plan may evolve depending on market conditions.
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Grapevine: Zydus joins Torrent in race for JB Chemicals; The New Shop eyes 24Seven
VCCircle
·
1y ago
Medial
In the race to acquire JB Chemicals and Pharmaceuticals, Torrent Pharmaceuticals and Zydus Lifesciences are competing with private equity firm EQT. They have been shortlisted by KKR, the current owner of JB Chemicals. This comes after earlier reports of Torrent Pharma being in advanced talks to acquire KKR's stake in the company. Meanwhile, The New Shop is reportedly looking to acquire 24Seven.
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