HealthCare Global, an oncology care hospital chain, has received a funding of $20 million from PremjiInvest, a private equity fund sponsored by Azim Premji. With this funding, PremjiInvest has bought a "significant minority stake" in HCG. This is the third round of funding the hospital has received after it initially received Rs 50 crore from IDFC Private Equity and the second funding of Rs 10 crore from Evolvence.
Private equity mergers and acquisition volumes targeted towards India have grown to $ 2.1 billion through 52 deals in 2008 so far, compared to $ 893 million in the year-ago period, making India the most targeted nation for such agreements in Asia. Buyouts by private equity investors this year account for 15 per cent of the total M&A deals in the country. This has increased 4 per cent from the same period last year. PE investments constitute 8% of the total global M&A volume.
Sources close to the development said the agreement between one of the private equity partners and the Patni brothers, who jointly hold 29 per cent stake, is expected to be signed next month.
Adani Power, part of the Adani group, plans to add close to 6 gigawatts (Gw) of new power assets in the next five years, according to an investor presentation by the company. That is clearly meant to ride on India's burgeoning power demand. But there is another side to it: All of this new capacity is expected to be thermal power, or power produced from coal.
The country's largest private sector lender HDFC Bank on Saturday said it will grow its loan book slower than the industry in the current financial year (FY25). The move comes as the lender looks to bring down its elevated credit - deposit (CD) ratio to pre-merger levels. "We will bring down the CD ratio faster than what we had anticipated.
The fund would be promoted by three partners - Deepak Kavadia, Palak Jain, and Philip Ho, Managing Director of US-based private equity fund Cornell Capital. The promoters would own 75 per stake in the firm. "We are in talks with 10 large players at global scale.
Indian companies announced as many as 60 private equity deals as against 56 M&A transactions, according to the data compiled by global consultancy firm Grant Thornton. However, the total value of PE deals was lower at $2.05 billion compared to $3.01 billion in M&As transactions.
In May, MFs were the net sellers in several PSUs, as they deployed Rs 47,600 crore in equities during the month.
Deccan Aviation, which operates the country's largest budget carrier Air Deccan, will make a preferential allotment to investors to raise $75-100 million for its expansion plans.
'If I had to highlight one area that will do well, it is the financial assets -- that is the private sector banks, insurance and mutual funds.'
Indian start-ups are likely to experience a fillip as around 40 US venture capitalists and private equity holders have already lined up $400 million to invest in the country.
Oman's largest bank BankMuscat, which recently picked up 43 per cent stake in the domestic brokerage house Mangal Keshav Group
With Rs 17,087 crore raised so far this calendar year, the total is already 2.4 times that of the full year of 2023, which stood at Rs 7,266 crore.
Nimbus Communications Ltd on Monday said it has received private equity investment of Rs 552 crore (Rs 5.52 billion) from 3i, Cisco and Oman Investment Fund that would be deployed to fund sports rights acquisitions
LVMH, which has brands like Christian Dior, Fendi, TAG Heuer and Dom Perignon in its stable, is planning to float a 1 billion private equity fund for emerging markets in Asia, of which 40-50 per cent will be dedicated to India.
IT and ITeS companies accounted for $28.1 billion of the total investment pie during the first nine months of 2021.
The Indian economy has witnessed the creation of 28 unicorns, or startups valued over $1 billion, this year on the back of a series of reforms unleashed by the government, Finance Minister Nirmala Sitharaman said. Addressing a virtual conference organised by the Indian Private Equity and Venture Capital Association (IVCA), the minister said the Indian economy has witnessed a spur of unprecedented growth in the form of startups in the last two decades. The Department for Promotion of Industry and Internal Trade (DPIIT) has recognised more than 56,630 startups across districts throughout India, IVCA said in a statement quoting the finance minister.
After a sharp fall in the share prices of HDFC Bank and other private sector lenders in the past three days, the BFSI (banking, financial services and insurance) sector weighting in the Nifty50 has slipped to a seven-year low of 32.03 per cent, down from nearly 36.6 per cent at the end of March 2023 and 34.5 per cent at the end of December 2023.
Assocham has predicted that global PE firms are likely to invest $48 billion in the Indian markets in the next two years.
This is despite the private sector companies outperforming their public sector counterparts, reports Sachin P Mampatta.
Ramalingam Kalirajan dives into the specifics of NPS withdrawal rules to help you understand the conditions under which and when partial withdrawals are allowed.
Ahead of its Rs 18,000 crore further public offer (FPO), Vodafone Idea on Monday said it expects to roll out 5G services in select pockets within 6-9 months of raising fresh capital. Its chief executive Akshaya Moondra said rollout of the modern 5G telecom services is one of the objectives of raising the capital from the public and once the funding comes, it will start work on the rollout. "With this round of funding, we believe we will be able to (come) back to participate in the industry growth which has not been possible," he said.
India's third-largest pharmaceutical company by revenue, Cipla, is up for grabs in a three-way fight between Torrent Pharmaceuticals, Dr Reddy's Laboratories (DRL) and private equity (PE) giant Blackstone. Analysts say it is more likely for a strategic investor like Torrent or DRL to acquire Cipla than a PE firm, which may not derive healthy returns at Cipla's current market price (CMP) after the recent gains.
The US-based private equity firm Texas Pacific group, among three others, is in talks with country's second largest airline Air Deccan for picking up a minority stake.
'We like certain stocks from banking, insurance, retail, hospitals and capital goods.' 'Though some of these stocks may seem expensive, they will compound well over the long term, thus justifying their current multiples.'
Unlike last year when private equity participants exited through strategic deals with third party investors, this year PEs are opting to exit via initial public offerings route.
As milk prices rise, analysts have an optimistic view on dairy stocks such as Heritage Foods and Dodla Dairy, hoping the companies' margins will grow in the near to medium term. From a long-term perspective, they believe that a growing population, increasing disposable income and health consciousness will strengthen dairy consumption in India.
An in-line ICICI Bank result for the quarter ended March 31, 2024, has led to analysts raising target price and earnings per share (EPS) forecast on the stock. ICICI Bank, they said, appeared least vulnerable to regulatory action on its digital offerings or for risk monitoring lapses.
Small- and medium-sized realty firms are scouting for private equity funds to finance forthcoming projects as bank funds have dried up following concerns over high credit growth to the sector.
3i, a private equity and venture capital firm, will invest $45.50 million in sports and media company Nimbus Communications Ltd.
Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector.
Private equity fund investment in India has risen to $2.48 billion till July driven by the country's robust economic growth and investors are now likely to target opportunities in the core sector in the days ahead, a latest report says.
With global investors buying into the India growth story, the size of private equity deals in the country has doubled in the last two years.
Former World No 1 and tennis legend Andre Agassi was named ambassador for the True North Brand at an event in Mumbai on Wednesday.
Akshay Bhargava, former chief executive of Infosys's BPO arm Progeon, has joined 3i -- Europe's leading venture capital and private equity company -- and will head 3i's new focus on the global business process outsourcing market.
It is to be seen if SBI under Setty, who will have a three-year term, can ride the economic cycle to take SBI to new heights, navigating some of these challenges.
Private-equity funds made an average annual return of just 7 per cent between January 2007 and December 2013 while the Sensex was up 11 per cent.
