Global private equity (PE) firms are successfully offloading large equity stakes in domestic companies in the open market, taking advantage of buoyant conditions. Strong domestic liquidity support and an upward trending market have underpinned over a dozen PE exits worth $2.5 billion, data compiled by Business Standard shows. The figures exclude PE exits during maiden share sales and shares sold by strategic investors, such as SoftBank and Ant Group in new-age companies.
Private equity player Everstone Capital has sold Modern Foods, which it had taken over in early 2016 from Hindustan Unilever, to Mexican baking major Grupo Bimbo for an undisclosed sum.
The issue will comprise a secondary share sale worth Rs 600 crore by private equity major Everstone Capital and fresh fundraising worth Rs 400 crore.
Wrapped in blue and orange wax paper, it's a familiar sight on the shelves of kirana stores across the country. Given how well travelled and mobile it is - starting its journey in Chennai, then turning to Singapore and now landing in Mexico - you could say it lives up to its name: Modern. Modern Food Enterprises, the company that manufactures and sells the bread in question as well as other bakery products under the "Modern" brand name, has recently been sold to the world's largest baking company, Grupo Bimbo, for an undisclosed amount. This latest transaction is the second change of guard at Modern within five years and third since the government divested the company at the turn of the century. At a time, when the National Democratic Alliance government has decided to privatise, or shut down, public sector enterprises except for those deemed strategic, Modern makes for a promising case study of how divestment led to the brand's growth, both in revenue and reach.
Burger King Worldwide Inc has entered into a joint venture with private equity and real estate firm Everstone Group to start operations in India.
Bankrupt Infrastructure Leasing & Financial Services (IL&FS) has sold the entire stake in the waste management arm IL&FS Environmental Infrastructure & Services (IEISL) and its subsidiaries to EverEnviro Resource Management (EverEnviro), an arm of the PE major Everstone Group, the companies said in separate statements. Though the value of the deal was not specifically disclosed, the crippled IL&FS -- which is under bankruptcy proceedings in NCLT -- said the sale will reduce its overall debt by Rs 1,200 crore, which is the combined debt of entities under the group's environment businesses. IL&FS Environmental Infrastructure & Services (IEISL) is one of the leading integrated waste management companies that is into municipal solid waste management apart from presence across various segments including construction and demolition, collection and transportation and waste to energy and currently manages over 8,400 tonnes per day solid municipal waste.
Can Everstone overcome the challenges that previous owner HUL could not, as it tries to rebuild Brand Modern?
Culinary Culture, which is spearheading the venture, will bring globally-ranked chefs to India as well as take local chefs abroad so they can work at world-ranked eateries.
Now they are reinventing their strategies to stay afloat, as they see no sign of recovery for at least six months.
Sudden spurt could be seen as a sign of maturity or slowing in the sector.
Decision to build or buy a platform is a function of price but buyouts are helping large investors create a medium and influence outcomes.
US fast food chain Burger King Worldwide will open about 12 outlets in India over the next 60-90 days.
The company plans to collaborate with stopover management consolidators, who will participate in the bids to develop food courts and rest areas along the highways. Such stopovers will house multiple restaurant brands, reports Avishek Rakshit.
People move from investment banking to growth equity or from venture capital to growth equity or entrepreneurship, depending on what's attractive at different points of life.
The logistics segment is becoming a hot favourite of private equity, of late.
It is raining private equity funds in the logistics and warehousing space.
Before opening its first outlet in the country on November 9, the US fast food chain, Burger King Corporation, had approached the HC seeking an assurance that companies it had sued for trademark infringement will not approach lower courts for stay orders against its launch.
Burger King's entry is expected to heat up the burger chain market in India, dominated by McDonald's.
For the past few years, Avigo has been in talks with many strategic players, including private equity investors, to sell its stake in Spykar.
Experts say it's not only important to get due-diligence done by an independent firm but it needs to be cross-checked, too.
Private equity players believe it to be lucrative to invest in designer labels.
India-located funds have already raised $3.9 billion so far this year.
The Sensex soared 402 points higher to end at 25,720 and the Nifty surged 130 points to close at 7,819.
The brand which has been endorsed by the likes of Paris Hilton, Kim Kardashian and Padma Lakshmi will open the first outlet in New Delhi next April.
Lesser-known Indian players continued to impress, while the fancied struggled to score, even as overseas Grandmasters took charge in the third round of the World Junior Chess Championships, being played at Hotel Hyatt, in Pune, on Wednesday. S L Narayanan was one of the early finishers, holding second seed and super GM Robin Van Kampen (2641) to a draw, while 10-year-old Nihal Sarin's impressive display again won him many admirers after he held Balazs CSonka (2409) to a draw to remain unbeaten after three encounters against opponents rated higher than 2400.
Vanita Kohli-Khandekar reports on the ongoing battle for the top spot between publishers S Chand and Navneet.
China's Lu Shanglei and Wei Yi emphatically exhibited their rising chess prowess with convincing victories over Russians Vladimir Fedoseev, the top seed, and Mikhail Antipov, in the 10th round of the World Junior Chess Championships at Hotel Hyatt, in Pune, on Thursday. The victories ensured that the Chinese maintained joint-leader status with eight points each.
Padmini Rout's unbeaten run was halted by top seed Aleksandra Goryachkina in the eighth round of the LIC World Junior Chess Championships, at the Hotel Hyatt, in Pune, on Tuesday. After a day's rest, the girls' section was dominated by the higher-rated Russians in the fray, with Daria Pustovoitova defeating Anna Iwanow of Poland. Both the Russian girls and Anna Iwanow of Peru jointly lead the girls' section in the 77-player event with 6.5 points each.
S L Narayanan, a regular visitor to Pune for the Maharashtra Chess League, has a reputation for shocking seeded players. On Thursday, in the fourth round of the LIC World Junior Chess championships, at the Hotel Hyatt, the teenager from Kerala played true to his reputation and stunned Polish Grandmaster Kamil Dragun.
The Whopper creater has most of its burgers priced at par with McDonald's.
Manavi Kapur and Avantika Bhuyan speak with leading designers about trends that will sparkle in the new year.
Lu Shanglei of China defeated Aleksander Indjic of Serbia and was crowned World junior chess champion at Hotel Hyatt, in Pune, on Sunday. In the girls' section, 16-year-old Alexandra Goryachkina successfully defended her title with a round to spare on Saturday.
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