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.
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.
Kaye, the Warburg Pincus co-president, will succeed Rajat Gupta, McKinsey & Company's senior partner worldwide.
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.
The company has said the funds raised will be used to invest in product development and expansion of its fast-growing mobile business.
This is the single largest foreign investment in India so far.
At a time when the government has proposed to hike foreign direct investment in the telecom sector, private equity fund Warburg Pincus has reduced its stake in Bharti Televentures by 3.35 per cent to bring its stake down to 15.17 per cent.
Total investments in the first six months of 2017 was a record $11.34 billion
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.
Piramal Realty received equity funding from Warburg Pincus and Goldman Sachs in July.
The sharp jump in shares of Kalyan Jewellers (Kalyan) has surprised many on the Street; however, analysts believe more steam could be left in the stock as the Thrissur-based gold retailer pivots to a new asset-light network expansion model. Kalyan's stock has surged 62 per cent in the past month, even as the S&P BSE SmallCap Index has gained just 5 per cent. In its latest business update, the company said its consolidated sales grew more than consensus expectations at 31 per cent year-on-year, led by strong domestic sales regardless of the volatility in gold prices.
Prime Minister Narendra Modi on Monday gifted famous Indian tea to the captains of 11 large American corporations.
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.
Online auto classified platform CarTrade Tech on Tuesday said it fixed a price band of Rs 1,585-1,618 a share for its nearly Rs 2,999-crore initial public offer. The initial public offering (IPO) will open for subscription on August 9 and conclude on August 11. The bidding for anchor investors will open on August 6, the company announced. The initial share-sale will be entirely an offer for sale (OFS) of 18,532,216 equity shares.
FIPB rejects proposals from firms that have not divulged details of beneficial ownership or source of funding
The reported buyback of Temasek's 20 per cent stake in Tata Play by Tata Sons will be the third instance of Tata Group providing an exit to a foreign partner in recent years. In 2018, Tata Sons paid $1.27 billion to DoCoMo to buy back 26 per cent of the group's telecommunication venture, Tata Teleservices. This was followed by Tata Sons acquiring AirAsia Berhad's 49 per cent stake in AirAsia India in two tranches to make it a wholly owned subsidiary.
Richest Indian Gautam Adani's conglomerate has cited an improved net debt to operating profit ratio and more than halving of loans from public sector banks to allay concerns about it being overleveraged. In a 15-page note in response to CreditSights report calling the group overleveraged, it said companies in the group have consistently de-levered, with the net debt to Ebitda ratio declining to 3.2 times from 7.6 times in the last nine years. "The businesses operate on a simple yet robust and repeatable business model focused on development and origination, operations and management and capital management plan," the note, reviewed by PTI, said.
US-based global technology giant IBM expressed keen interest in participating in India's newly-launched initiatives like Smart Cities and Digital India.
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.
Sebi is reportedly examining the matter internally and has reached out to the fund house on the matter.
IPO-bound mobility platform Ola, said it has successfully raised $500 million via a Term Loan B (TLB) from marquee international institutional investors. This term loan has no impact on the valuation of Bhavish Aggarwal-led Ola. The Bengaluru-based firm recently raised $139 million. This is part of a $1 billion funding round for which the company is in talks with investors, increasing its valuation to about $7.5 billion, according to the sources.
Nearly half of the investments by various US-based investors have been made in Reliance subsidiary Jio.
Juster played a key role in the landmark Indo-US civil nuclear deal.
On Thursday, the prime minister is scheduled to hold one-on-one meetings with top five American CEOs. Two of them are Indian Americans -- Shantanu Narayen from Adobe and Vivek Lall from General Atomics. The three others are Cristiano E Amon from Qualcomm, Mark Widmar from First Solar, and Stephen A Schwarzman from Blackstone.
As the Under Secretary for Commerce, Juster played a key role in developing the Indo-US deal.
Seven companies, including lifestyle retail brand FabIndia and specialty chemical company Aether Industries, have received capital markets regulator Sebi's go-ahead to raise funds through initial share sales. Syrma SGS Technology, Asianet Satellite Communications, Sanathan Textiles, Capillary Technologies India and Harsha Engineers International too received the watchdog's nod to float Initial Public Offerings (IPOs). These companies, which filed their preliminary IPO papers with Sebi during December 2021 and February 2022, obtained observations during April 27-30, an update with the regulator showed on Monday.
'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.
Defence major Boeing on Monday proposed greater business engagement with India, as Prime Minister Narendra Modi promised the US companies to provide friendlier business environment in the country.
The company raised $145 million (about Rs 1,000 crore) recently from investors. The portal, which has 15 million unique customers and 32 million visits per month, is already a market leader. Sohini Das reports from Ahmedabad.
Reason for rejection hasn't been stated; deal among seven rejected transactions.
A steady demand environment, prudent debt management and faster absorption of office space gave them an edge over others.
The CEOs round table is expected to be attended by Apple chief Tim Cook, Walmart head Doug McMillon, Caterpillar's Jim Umpleby, Google head Sundar Pichai and Microsoft's Satya Nadella.
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.
After months of negotiations, an entity owned by Pune-based property developer Panchshil Realty and US-based private equity (PE) company Blackstone has bought a majority stake in Express Towers.
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