Private equity fund manager, ChrysCapital, has acquired a 10 per cent stake in Kolkata-based Titagarh Wagons and plans to invest over $500 million (Rs 2,3.4 billion) in India, over the next 2-3 years.
Homegrown private equity major ChrysCapital on Thursday announced closure of its fifth fund worth $1.25 billion (about Rs 5,000 crore), taking up its total asset under management to $2.25 billion.
The Rahejas and Star TV are together selling 15 per cent in cable network operator Hathway Cable to private equity firm ChrysCapital.
The funding environment in India for startups is improving this year if one were to go by Bain & Company estimates. Five private equity (PE) investors that come on top on the criterion of deal size collectively put in $9 billion in the first half of 2024, surpassing their outlay for last calendar year, when it was $8 billion. At the top of the list is Swedish firm EQT, which acquired US-based and listed Perficient at an enterprise value of $3 billion, the deal being done by the Indian wing of the company. It has also added to its list by putting in $500 million in WSO2, a "software as a service" company, increasing its tally to $3.5 billion.
Education finance is a complex and dynamic sector. There are too many variables -- the course, the calibre of students, the universities, and the job prospects once the course is over, notes Tamal Bandyopadhyay.
The new round values the company at $2.5 billion, more than double the over $1 billion valuation Dream 11 enjoyed in April 2019 when it was declared the country's first gaming unicorn.
Fund managers said investors remained positive on the pharma manufacturing activity in India, which further strengthened during the Covid-19 period, on account of restrictions imposed on pharma imports from China.
Sebi is reportedly examining the matter internally and has reached out to the fund house on the matter.
Education topped the table with nearly $1.755 billion as against $379 million last year, followed by real estate which received $754 million.
Three marquee exits accounted for nearly 60 per cent of the total exit value -- BillDesk's acquisition by PayU for $4.7 billion, Paytm's $2.5 billion initial public offering (IPO), and Zomato's public market debut of $1.3 billion.
Blackstone, KKR, and Bain Capital, among others, are in the race for its general insurance arm, and Bandhan Bank, Bain, and Dabur Investments have shown interest for RCap's 51 per cent stake in the life insurance business.
The jury members included Ashish Dhawan, senior managing director, ChrysCapital, Keki Dadiseth, managing director, Omnicom, Kiran Mazumdar Shaw, chairman and managing director, Biocon, Kumar Mangalam Birla, chairman and managing director, Aditya Birla Group and S Ramadorai, chief executive, TCS.
Citigroup Venture is planning to buy an equity stake in PINC for Rs.400 cr.
Cargill, Universal Leaf, ChrysCapital feel the heat.
Kini, is set to return to the United States in June, and will launch his venture in the environment space.
While 2017 was a record year for private equity investments in India after $23.5 billion in 660 deals, 2018 too has begun with a bang.
Even though the company's revenue figures are not public, it has so far raised $93 million in four rounds of funding.
DOIT is a 100 per cent subsidiary of Morgan Credits in which Rana Kapoor's daughters Radha, Roshini and Raakhe, are directors. In 2018-19, the company incurred a net loss of Rs 48.76 crore on revenues of Rs 59 crore - a sharp contrast to 2017-18 when it had profits of Rs 2.7 crore on revenues of Rs 43 crore. To fund these aggressive investments into its subsidiaries in 2018-19, DOIT used debt which doubled to Rs 600 crore in 2018-19 from the previous year.
Import alert on Ranbaxy's Mohali unit; Strides' injectible arm gets warning letter
India-located funds have already raised $3.9 billion so far this year.
These investors are not only betting on little-known stocks, but also sectors that the market participants are not paying much heed to. Some of these stocks can be potential multi-baggers, while others may not live up to the expectations of these stock-pickers, says Jash Kriplani.
EazyDiner will be a restaurant reservation platform offering reviews, reservations, deals and a concierge services
The country's drug companies have attracted the highest number of enforcements from the American drug regulator in 2013, a year that has seen the US Food and Drug Administration turning stricter to ensure compliance levels and quality of medicines.
Jaipuria has not specified the amount he is looking to raise, but says this is the right time to tap the capital markets.
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