ICICI Venture informed Subhiksha on January 8, 2009, about the withdrawal of its nominee directors and asked the company to make the requisite filing with the RoC, Chennai. However, when ICICI Venture did not receive any copies of the filing till January 19, it informed the RoC of the resignations.
ICICI Venture denied the allegations, noting it had extended the lifespan of the Dynamic India Fund III by three years
ICICI venture firm, RFCL Ltd acquired Alved Pharma and Foods. RFCL aims at banking on Alved's southern market in animal healthcare business.
Renuka Ramnath is credited with raising the India Advantage Fund Series II, the country's largest private equity fund till date with a corpus of $810 million.
Almost a year after launching its Rs 1,000-crore (Rs 10-billion) domestic fund, ICICI Venture, one of the largest private equity firms in the country, raised Rs 200 crore (Rs 2 billion) last week, according to sources privy to the development.
The first private equity deal in the Indian health insurance sector is set to be sealed soon.
Ranbaxy Laboratories Ltd on Friday said ICICI Venture Funds Pvt Ltd would acquire the company's fine chemicals, animal health care and part of the diagnostics business.
In the changed scenario of Indian private equity, where institutions and individuals are busy with fund raising, the fund houses are exploring untapped markets.
Private equity firm, ICICI Venture, on Thursday said that it plans to invest Rs 120 crore (Rs 1.2 billion) in Star Health and Allied Insurance Company, marking the first private equity deal in the Indian health insurance sector.
ICICI Prudential Asset Management Company has set a price band of Rs 2,061- Rs 2,165 per share for its Rs 10,600-crore initial public offering (IPO) that will open on Friday. At the upper end of the band, the country's largest asset manager will command a valuation of Rs 1.07 trillion.
Mulye banks on domestic investors to raise money before approaching international markets.
Rules out involvement of nominee and independent directors.
ICICI Ventures Funds Management Company Ltd has acquired Tata group's 50% stake in Tata Infomedia Ltd for Rs 176 per share, totalling Rs 100.7 crore in a cash deal, and will make an open offer to acquire 20% publicly-held shares of the company.
The fund, which will be launched next month, will have a tenure of ten years and the money will be invested in projects within three years. The fund from the country's largest private equity fund (it manages assets of over $2.5 billion in a diversified portfolio) comes just 18 months after it launched a real estate fund of $500 million. Of this, it has already invested 70 per cent in various projects.
Private sector ICICI Bank on Friday said its board has approved additional 2 per cent increase stake in its asset management arm ICICI Prudential Asset Management Company. The board of the bank on Friday approved purchase of up to 2 per cent additional shareholding in the ICICI Prudential Asset Management Company, ICICI Bank said in a regulatory filing.
Jio Platforms Limited is likely to have a valuation of $148 billion by the time it goes public on the back of strong free cash flow and potential deleveraging, ICICI Securities said.
Canadian firm Manulife and Mahindra & Mahindra (M&M), an Indian automaker with interests in financial services, have signed an agreement to form a 50:50 life insurance joint venture (JV) with a total capital commitment of up to Rs 3,600 crore each totalling Rs 7,200 crore.
ICICI Securities expects Jio Platforms' ensuing IPO to fetch "premium valuations", as was the case in the high-profile equity raise of FY21, and has pegged the company's equity value at $148 billion by September 2027.
The sector's IPO pipeline is led by Tata Capital's Rs 17,000 crore issue, followed by ICICI Prudential Asset Management at Rs 10,200 crore and Billionbrains Garage Ventures at Rs 6,000 crore.
You have to grow, and grow fast - that's the DNA of the JSW group, chairman Sajjan Jindal said as JSW Cement made its debut on the stock market mid-August. The remark captured not just the moment but also the momentum of JSW's growth story.
The factor fund launch spree by mutual funds (MFs) is moving from the passive to the active space. Two new fund offerings (NFOs) - ICICI Pru Active Momentum Fund and Bandhan Multi-Factor Fund - are currently open for subscription. Sundaram MF's multi-factor fund NFO closed this Wednesday.
Sources said that this is a contingency plan, in the event of an exit of the present heads of its two subsidiaries ICICI Prudential and ICICI Ventures. At present, Shikha Sharma is managing director & chief executive officer (CEO) of ICICI Prudential Life Insurance, while Renuka Ramanathan is managing director and CEO of ICICI Ventures.
ICICI Venture has tied up with a global healthcare investor to put in funds in India's healthcare sector.
Subhiksha's founder and Managing Director R Subramanian, while refuting the allegations of ICICI Venture, said his company hasn't received any resignations from the nominees of ICICI even though the private equity firm claimed it had withdrawn its nominees.
India is still a capital-starved economy where long-term capital can be put to work to create valuable enterprises and successful entrepreneurs, says Renuka Ramnath.
In the largest private equity deal in the country ICICI Venture Funds Management Co has concluded a $800 million (Rs 3,200 crore) deal to buy a minority stake in Delhi-based Jaypee Infratech, a subsidiary of the infrastructure-to-hotels Jaypee Group.
The Express group is expected to get around Rs 500 crore (Rs 5 billion) from the deal.
ICICI group's private equity business head Renuka Ramnath is believed to have put in her papers on Monday.
TSI Ventures (India), a real estate joint venture between US-based Tishman Speyer and ICICI Venture, is planning to invest over $1 billion (about Rs 4,600 crore) in next 8-10 years to develop commercial and residential properties in the country.
After lagging behind the broader market over the past three and six months, defence sector stocks have regained ground, reversing their performance from the past month. Concerns about slowing order inflows, execution hurdles, supply chain disruptions, and high valuations had weighed on the sector.
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