Warburg Pincus on Monday enhanced its stake in Max Healthcare to 23 per cent with a second round of investment of Rs 115 crore (Rs 1.15 billion).
Foreign Institutional Investor Warburg Pincus International will pick up 2.75 per cent stake in Kotak Mahindra Bank for Rs 75.9 crore (Rs 759 million), subject to shareholders' approval.
The buzz in the IPO market continues with four companies launching their initial share sales this week to raise over Rs 14,628 crore collectively. This comes after four companies -- Devyani International, Krsnaa Diagnostics, Windlas Biotech and Exxaro Tiles-- launched their initial share-sales last week to mobilise Rs 3,614 crore. So far in the current fiscal, 16 companies have raised Rs 30,666 crore through IPOs against Rs 31,277 crore by 30 firms in the entire 2020-21. Going forward, market analysts expect the IPO environment to remain buzzing during the entire 2021-22.
Mobility company Ola's chief financial officer Swayam Saurabh and chief operating officer Gaurav Porwal are leaving the company. These developments come at a time when the SoftBank-backed company's core ride-hailing unit is planning to go public and for which it raised $500 million from Warburg Pincus and Temasek in July this year. These investment firms had partnered with the company founder Bhavish Aggarwal for this round.
After a long wait, the Shapoorji Pallonji Group has closed the sale process of its consumer durables business under the Eureka Forbes label by picking the American private equity fund Advent International's Rs 4,400-crore offer for a 72 per cent stake. The sale process, which began in November 2019, will help the over 156-year-old SP Group pair the debt pile and sharpen the focus on the flagship construction and engineering business under Afcons. The valuation of Rs 4,400 crore for a 72.56 per cent stake is is at an enterprise level and subject to closing adjustments and also includes an open offer for the remaining stake after the demerger and listing of Eureka Forbes, the SP group said in a statement on Sunday.
The deal would be the biggest private equity transaction in India after Bain Capital paid about $1 billion to buy a 30 percent stake in business process and technology services provider Genpact.
When Japan's Yokohama Rubber announced the acquisition of Alliance Tire a few days back, it was the end of the long and successful road.
Adani, which had earlier bid only for the wholesale book, now want all of DHFL's assets and has pipped both Oaktree and Piramal by bidding higher than each of them.
Don Mattrick helped turn the Xbox business into a profitable venture after years of operating losses.
Warehousing and logistics segment has been among the most resilient asset classes in the pandemic.
Lenders to DHFL will meet early July to hammer out a rescue package, which will include the reworking of loan payments, fresh working capital support, roping in a financial investor, and the promoters ceding control.
The company has said the funds raised will be used to invest in product development and expansion of its fast-growing mobile business.
The power minister briefed the investors on various steps undertaken by the government.
Piramal Realty received equity funding from Warburg Pincus and Goldman Sachs in July.
The logistics segment is becoming a hot favourite of private equity, of late.
The poster boys of Indian private equity are getting a reality check. If last year many of them branched out independently with their entrepreneurial PE shops, many are scaling down or biting the dust a year down the line.
Prime Minister Narendra Modi on Monday gifted famous Indian tea to the captains of 11 large American corporations.
'India is the largest stomping ground in the world for impact investing as we have an extraordinary combination of entrepreneurial drive with huge, absolute demand for all kinds of social services,' IDFC First Bank's chief Rajiv Lall tells Anjuli Bhargava.
Goldman-HDFC JV and OYO Hotels & Homes are betting big on student housing, says Raghavendra Kamath.
Warburg Pincus, the private equity major, is set to enter an equal joint venture with Patu Keswani's Lemon Tree Hotels to get into affordable housing.
Bigger companies are signing equity JVs with global investors.
Falling equity markets have trapped major private equity investors such as Warburg Pincus, Blackstone Group, Carlyle, Apax Partners, Chrys Capital and Citigroup.
World's largest asset manager Blackrock will host a global investors meet in India next year, CEO Laurence Flik conveyed to Prime Minister Narendra Modi.
Private equity-backed Kosmos, which has received a total of $800 million in financing from Blackstone and Warburg Pincus, has hired Standard Chartered and Barclays Plc to sell its stakes in the offshore Jubilee oil field. A potential sale of Kosmos' stake in the Jubilee field is being closely watched as the asset is one of the largest oil finds in West Africa in the past decade.
Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
Warburg Pincus, a US-based private equity firm, has put in the highest bid worth Rs 5,000 crore (Rs 50 billion) for ICICI Bank shares.
Juster played a key role in the landmark Indo-US civil nuclear deal.
Big conglomerates of Japan, including Mitsubishi Corporation, Sumitomo Corporation, and Mitsui Group, are looking to both build and buy commercial properties in key Indian cities.
As the Under Secretary for Commerce, Juster played a key role in developing the Indo-US deal.
Kaye, the Warburg Pincus co-president, will succeed Rajat Gupta, McKinsey & Company's senior partner worldwide.
Increase in surcharge will adversely impact fund managers planning to shift to India. As a matter of fact several fund professionals based in India could also relocate to other jurisdictions, resulting in a brain drain.
This is the single largest foreign investment in India so far.
Warburg Pincus group and associates are making an open offer to the shareholders of Max India Ltd to acquire additional 20 per cent stake in the company for Rs 200 per share payable in cash.
Moser Baer India on Monday said it proposed to issue global depository receipts equivalent to 14.7 million underlying shares as well as warrants equivalent of 5.4 million shares to the affiliates of Warburg Pincus for raising over Rs 675 crore.
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