Sunil Bharti Mittal-led conglomerate Bharti Enterprises and private equity firm Warburg Pincus will collectively acquire a 49 per cent stake in Haier Appliances India, the local unit of China's Shandong-based Haier group, for an undisclosed amount. The transaction, according to industry sources, values the company at about 15,000 crore.
Invests $1.1 billion in 6 months, against $3.7 billion in 20 years
Having sold 62 million equity shares last week in Sunil Mittal owned Bharti Group, Warburg Pincus has said that its investments in the Bharti company was one of most successful investment and expressed satisfaction about the deal.
Since the start of the year, the PE player has no board representation in the company.
IDFC First Bank on Monday said its shareholders have rejected the proposal to allow global private equity firm Warburg Pincus' arm to nominate a non-executive director on the bank board.
It holds 14.5 million ADS of the BPO.
According to the agreement, Pantaloon Retail India, along with its wholly owned subsidiary Future Value Retail, would sell its stake in FCH.
The amount will be used over the next ten years by the premier management institute to support the financial needs of students who are unable to afford fully or partially the cost of education at IIM-A.
Max India Ltd will allot 1 crore (10 million) equity shares of Rs 10 each, representing 29.17 per cent of the share capital, to Parkville Holdings Ltd, a member of the Warburg Pincus Group for a consideration of Rs 200 crore (Rs 2000 million).
But selectively, with regulatory scrutiny and special approval, points out Tamal Bandyopadhyay.
Coforge's planned $2.35 billion all-stock acquisition of US-based Encora has divided the Street, with a few brokerages terming it a "strategically positive" but execution-heavy bet while others raising valuation concerns.
Cleaner balance sheets, regulatory support and strong growth prospects helped Indian private banks attract over $6 billion in foreign capital, with more deals expected in 2026.
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.
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).
Private-sector lender Federal Bank on Friday announced that New York-based Blackstone will invest Rs 6,196.51 crore in the bank through its affiliate Asia II Topco XIII Pte Ltd via a preferential issue on a private placement basis.
In one of the largest FDI deals in realty sector, global private equity Warburg Pincus will invest Rs 1,800 crore (Rs 18 billion) in Piramal Realty, which would use the funds to develop mixed-use projects in the megalopolis.
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.
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.
Warburg Pincus International is set to invest Rs 75.90 crore (Rs 759 million) for picking up 2.75 per cent in Kotak Mahindra Bank, which has also decided to increase its FII holding limit from 24 to 30 per cent.
'All commercial and banking transactions happen in South Mumbai.'
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.
US-based equity investment firm Warburg Pincus has picked up stake worth Rs 280 crore (Rs 2.8 billion) in the hospitality chain Lemon Tree Group
Both partners would inject $200 million each in the form of equity and hold 50 per cent stake each. They plan to raise another $600 million in the form of debt to create a corpus of $1 billion to develop malls across tier-I, II and III cities.
The power minister briefed the investors on various steps undertaken by the government.
WNS, an NYSE-listed business process outsourcing company, recorded good second quarter numbers, reflecting the improving market conditions in global markets. Neeraj Bhargava, Group CEO, attributed the performance to better volume growth and a robust pipeline. In a chat with Business Standard, he spoke about the recent stake sale talks with Warburg Pincus, appointing a new CEO and other issues.
US-based buyout fund Carlyle, Providence Equity Partners, Warburg Pincus and Blackstone are understood to be exploring a buyout of Temasek's holding in Mumbai-based pure-play business process outsourcing firm Firstsource. The news triggered the company's share price to rise 6.76 per cent on the Bombay Stock Exchange (BSE) to close at Rs 43.45 on Tuesday. Warburg Pincus has a stake in WNS, a BPO company, while Blackstone has a majority stake in Intelenet.
'Earlier, our cost of funds was higher than most in the peer group.'
This, despite squeeze in start-up funding; $946 mn Bharti Infratel deal is biggest so far this year
The primary market is expected to remain vibrant, with at least 10 companies, including supermart major Vishal Mega Mart and Blackstone-owned diamond grading firm International Gemmological Institute (India) Ltd expected to raise a combined Rs 20,000 crore in the next month, merchant bankers said. Education-focused NBFC Avanse Financial Services, TPG Capital-backed Sai Life Sciences, hospital chain operator Paras Healthcare, and investment bank DAM Capital Advisors are also among the companies planning to launch their IPOs in December, they added. The companies aim to raise a total of Rs 20,000 crore through their public offerings.
The calendar year 2024 is set to go down as the best year for initial public offerings (IPOs) in terms of funds raised. Following the IPOs of food delivery major Swiggy and two other companies slated for next week, this year's total will reach nearly Rs 1.2 trillion, going past 2021's record tally of Rs 1.19 trillion. Swiggy's Rs 11,327 crore IPO, the sixth-largest in India, and solar energy firm Acme Solar Holdings' Rs 2,900 crore IPO opened on Wednesday (Nov 6), while health-tech firm Sagility India's Rs 2,106 crore IPO opened a day earlier.
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.
Falling equity markets have trapped major private equity investors such as Warburg Pincus, Blackstone Group, Carlyle, Apax Partners, Chrys Capital and Citigroup.
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.
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