After the Bharti Infratel deal, India could see more group approach in PE investing.
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.
The size of the opportunities today is twice or thrice what it was three years ago
The buzz in the IPO market continues with four companies launching their initial share sales this week to raise over Rs 14,628 crore collectively. This comes after four companies -- Devyani International, Krsnaa Diagnostics, Windlas Biotech and Exxaro Tiles-- launched their initial share-sales last week to mobilise Rs 3,614 crore. So far in the current fiscal, 16 companies have raised Rs 30,666 crore through IPOs against Rs 31,277 crore by 30 firms in the entire 2020-21. Going forward, market analysts expect the IPO environment to remain buzzing during the entire 2021-22.
Tata Teleservices on Thursday offloaded another 8 per cent equity in favour of Sterling Infotech owned by C Sivasankaran, presumably for about Rs 1,200 crore (Rs 12 billion).
At least four foreign fund biggies would soon enter the Indian mutual fund industry, a sign that re-affirms overseas interest in the country's stock markets though indices continue to sway.
Mobility company Ola's chief financial officer Swayam Saurabh and chief operating officer Gaurav Porwal are leaving the company. These developments come at a time when the SoftBank-backed company's core ride-hailing unit is planning to go public and for which it raised $500 million from Warburg Pincus and Temasek in July this year. These investment firms had partnered with the company founder Bhavish Aggarwal for this round.
The Centre plans to create a special window for strategically important investors such as sovereign wealth funds and pension funds that wish to invest over Rs 3,000 crore through a single transaction.
I would focus on R&D, correct or fine tune the US strategy and look at inorganic growth routes
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.
'Ola in India makes money on every ride. Our focus over the past couple of years has been to keep growing the market and our share in the market and build up on sustainable business,' says co-founder and CEO Bhavish Aggarwal.
Singapore's Fullerton Fund pumps more into China, cuts exposure in India
In the year 2020 to date, these funds deployed capital worth a record $14.8 billion in India, which is nearly three times more than what they have put in China - $4.5 billion.
There are several discussions going around in the e-health sector for consolidation with key players being PharmEasy, 1mg, Medlife and Netmeds. According to reports, Reliance Jio is in talks with Netmeds to acquire the latter.
India is struggling with a second wave of the pandemic with more than 3,00,000 daily new coronavirus cases being reported in the past few days, and hospitals are reeling under a shortage of medical oxygen and beds.
Lafarge is in a drive to shed non-core assets to cut its debt to below 10 billion euros from 12.2 billion euros.
Bharti Infratel plans to raise Rs 4,500 cr through its IPO.
Actis was earlier negotiating with other private equity players, but changed its strategy after the government opened retail sector to foreign companies.
Snapdeal has a number of shareholders including Ontario Teachers' Pension Plan, PremjiInvest, Ratan Tata, Foxconn, Temasek and BlackRock, among others.
The last date to submit bids is March 17 but the deadline could be extended if there are requests from potential bidders.
While the overall loan disbursements stood strong at 15 per cent YoY in Q2, pockets such as vehicle finance, loans to NBFCs, and business banking showed some weakness. A continued fall in these numbers may make it tough for AU SFB to defend its valuations under the current circumstances.
The new partnership on the block doesn't exactly boast novices. Sunish Sharma, managing director at General Atlantic, and another PE veteranManish Kejriwalthe Indian head of the Singapore government-owned Temasek Holdings (who is also married into the super rich Bajaj family) have come together to raise an independent private equity fund.
'If you do quick back-of-the-envelope calculation, someone earning Rs 10 lakh can get a benefit of anywhere between Rs 35,000 and Rs 45,000, even if s/he is availing exemptions.' 'A large proportion of people do not avail full exemptions as they don't have money to invest in those schemes.'
Chinese e-commerce giant Alibaba has received anti-trust regulator CCI's approval for buying 4.14 per cent stake in Snapdeal.
We continue to remain bullish on the telecom and financial services space, says Manish Kejriwal, Country Head (India), Temasek.
We continue to remain bullish on the telecom and financial services space, says Manish Kejriwal, Country Head (India), Temasek.
Indian online retailers have been raising funds to expand and compete with bigger rival Amazon.com Inc as more Indians shop on the Internet.
Total exit value breached the $10 billion mark for the first time to touch $10.3 billion this calendar, from $9.4 billion in 2015
The Singapore government-controlled Temasek Holdings, which controls over 90 per cent of power generation and distribution in Singapore, will soon call for bids to privatise the two companies. The Indian companies are exploring various options to bid for these assets, said sources familar with the developments. Spokespersons of both Reliance Power and GMR Infrastructure declined to comment.
Tata Power, the country's largest power utility, has emerged as the only Indian company among the six firms shortlisted to bid for Singapore's largest power utility, Senoko Power, which is likely to be sold at over $3 billion.
KKR has committed to investing around Rs 1,000 crore in Bharti Infratel, through KKR's Asia private equity fund and global private equity fund.
Indian e-commerce company raises Rs 600 crore in sixth round of funding.
International no-frills budget carriers making a beeline for India.
Big conglomerates of Japan, including Mitsubishi Corporation, Sumitomo Corporation, and Mitsui Group, are looking to both build and buy commercial properties in key Indian cities.
Jet is believed to be in talks with leading private equity players.
Senior officials of the Industrial and Commercial Bank of China (ICBC) have denied a report that three major Chinese banks would acquire a 17 per cent stake in the Standard Chartered bank, the Chinese media reported.
The government must set up a Bank Investment Company to shrink its role in PSBs, if we are serious about tackling the two persistent issues - lax corporate governance practices and discretionary decision-making, says Shyamal Majumdar.
As about the need to set up such a fund, a top plan panel official said the proposed fund would be one of the way to earn higher returns as compared to those investing in domestic projects.
SpiceJet will get $20 million from MacRitchie Investments, Singapore (a wholly-owned subsidiary of Temasek Holdings) and Istithmar, a UAE-based private equity firm.
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