Page 9 - Latest Updates on Private Equity
Investors eyeing asset sale of GoMechanic; decision likely in a week
The firm reportedly did not maintain inventory records for receipts and issuance of goods directly received by the customers
 "Investors eyeing asset sale of GoMechanic; decision likely in a week")
Edtech startup NxtWave raises $33 mn, Greater Pacific Capital leads round
Nandan Desai, MD and Co-Head of India for GPC, to join NxtWave Board as part of deal; Existing investor Orios Venture Partners also invests in round
 "Edtech startup NxtWave raises $33 mn, Greater Pacific Capital leads round")
The King's Roll-Up Gambit: Creating Billions Of Dollars of Private Equity Returns in India
By AltG Research on behalf of Taponeel Mukherjee & Poornima Vardhan
 "The King's Roll-Up Gambit: Creating Billions Of Dollars of Private Equity Returns in India")
Barings PE may sell some stake in Coforge for up to Rs 2,600 cr: sources
The private equity firm has hired IIFL to seek investor interest in the deal and has offered up to 7% discount to the Friday closing market price of Rs 4,348 a share
 "Barings PE may sell some stake in Coforge for up to Rs 2,600 cr: sources")
Top VC firms reduce investments in India amid macroeconomic uncertainty
With late-stage funding rounds becoming tougher, they are focusing more on due diligence, profitability path, governance and early entry into companies at lower valuations
 "Top VC firms reduce investments in India amid macroeconomic uncertainty")
Polaris Smart Metering raises $100 mn in funding from I Squared Capital
Funds raised will primarily be used to acquire, execute and finance large smart metering contracts across India
 "Polaris Smart Metering raises $100 mn in funding from I Squared Capital")
Apax Partner plans to sell Shriram Capital stake to raise Rs 2,250 crore
The transaction would be worth Rs 2,250 crore taking into account the stock movement today
 "Apax Partner plans to sell Shriram Capital stake to raise Rs 2,250 crore")
PE inflows plunge 42% to $23.3 bn in 2022, lowest since 2019: Report
PE investments into domestic companies fell sharply YoY by 42 per cent to USD 23.3 billion in 2022, which is the lowest since 2019, when it was USD 15.8 billion, according to an industry report
 "PE inflows plunge 42% to $23.3 bn in 2022, lowest since 2019: Report")
PE investment up 58% in NCR realty in first 3 quarters of FY23: Study
PE funding in Indian real estate up 3% annually, demand for commercial and residential properties continues: ANAROCK Capital
 "PE investment up 58% in NCR realty in first 3 quarters of FY23: Study")
Advent International to acquire 50.1% stake in Suven Pharma, explore merger
As of last close, Suven had a market capitalization of 126 billion Indian rupees
 "Advent International to acquire 50.1% stake in Suven Pharma, explore merger")
India-focused funds sitting on highest-ever unallocated corpus of $12.9 bn
But does this mean that 2023 could be different, given the unutilised capital?
 "India-focused funds sitting on highest-ever unallocated corpus of $12.9 bn")
Data science firm Tredence raises $175 mn in funding for expanding business
San Jose-based company to use financing for strengthening verticals and get more customers
 "Data science firm Tredence raises $175 mn in funding for expanding business")
PE investment in real estate down 17%, inflow up in warehousing sector
According to the report, the investment volume in warehousing stood at $1.9 bn in 2022, from $1.3 bn in 2021, up 45% YoY
 "PE investment in real estate down 17%, inflow up in warehousing sector")
Poonawalla Fincorp to sell housing finance unit to TPG for Rs 3,900 cr
PFL to explore inorganic investments for business growth
 "Poonawalla Fincorp to sell housing finance unit to TPG for Rs 3,900 cr")
Flipkart staff may get Rs 5,700 cr in stock buyback scheme in a few weeks
This will be the biggest Esop buyback in tech industry. Flipkart owns over 80% stake in PhonePe and is looking to exit the company. Walmart owns 10% in the Bengaluru-based fintech firm
 "Flipkart staff may get Rs 5,700 cr in stock buyback scheme in a few weeks")
Irdai approves amendments, simplifies rules to set up insurance firms
Under the current guidelines, to invest in insurance companies as "promoter", a PE fund can do so only through an SPV
 "Irdai approves amendments, simplifies rules to set up insurance firms")
Carlyle Group sells Rs 607 crore shares in logistics firm Delhivery
The six-month post-initial public offering (IPO) lock in on shares of Delhivery ended on November 20
 "Carlyle Group sells Rs 607 crore shares in logistics firm Delhivery")
Blackstone to acquire majority stake in R Systems for Rs 2,904 crore
Blackstone is buying the promoters' stake for Rs 245 per share, a premium of 3.9 per cent on the current price of Rs 235.8 per share. The promoters will get around Rs 1,496.95 crore
 "Blackstone to acquire majority stake in R Systems for Rs 2,904 crore")
PE/VC investments drop 75% in October over last year: IVCA-EY report
Inflation woes, recession fears, the rising cost of capital, and elevated levels of uncertainty driven by geopolitical tensions have weighed down the PE/VC activity in 2022
TPG Capital to sell Nykaa shares worth Rs 1,000 cr via block deal on Friday
American private equity firm TPG Capital is likely to sell shares of Nykaa worth Rs 1,000 crore through a block deal
 "TPG Capital to sell Nykaa shares worth Rs 1,000 cr via block deal on Friday")
