Page 6 - Private Equity

Goswami Infratech gets nod to delay payment due this month: Report

The company has received sufficient creditor backing for a proposal to delay a bond payment, according to the people familiar who asked not to be identified

Prosus, Dharana, Vy Capital to buy Urban Company's shares worth Rs 203 cr

Urban Company on Wednesday said Dutch investment firm Prosus as well as Vy Capital and its offshoot Dharana Capital will buy shares worth Rs 203 crore from the employees of the on-demand home service firm. Urban Company has announced its fifth Employee Stock Ownership Plan (ESOP) sale, with a total secondary transaction amount of about Rs 203 crore, which will give the company's current and former employees an opportunity to liquidate their vested stocks. "Dharana Capital (an offshoot of existing investor Vy Capital), along with existing investors Vy Capital and Prosus will be purchasing these shares from employees and former employees," the statement said. Urban Company has granted ESOPs to 1,593 employees and ex-employees. Of these, 784 employees and ex-employees have participated in 5 secondary ESOP sale programmes, liquidating ESOPs worth Rs 306 crore across these 5 programmes. The company has awarded 11 per cent of its current fully diluted cap table as ESOPs, encompassing ...

PE exits in India surge 355% in first quarter of 2024, hit 50 deals: report

The total exit value also witnessed a significant increase, reaching US$3.6 billion - a nearly five-fold jump from the previous year's corresponding quarter

$700 mn buyout deal shows new way of moving assets, holding equity in India

A relatively new portfolio management tool allows private equity managers to move assets around more easily, as a way to hold them for longer

PE firm ChrysCapital to invest up to Rs 830 crore in Centre For Sight

"This investment will support CFS's ability to further scale and serve the growing demand for eye care in India both across Tier-I and Tier-II cities," the statement added

Indian PE, VC investments decline 35% to $39 billion in 2023: Report

The Indian private equity and venture capital investments declined by about 35 per cent to around USD 39 billion in 2023 from USD 62 billion in 2022, according to a joint report by Bain & Company and IVCA released on Thursday. The private equity (PE) investments in India dropped by 18 per cent to USD 29.6 billion from a peak value of USD 36 billion in 2022. The drop in VC investments was much sharper, with total investments at USD 9.6 billion in 2023 versus USD 25.7 billion in 2022. "Mirroring the global trend, Indian private equity and venture capital (PE-VC) investment softened by about 35 per cent from approximately USD 62 billion in 2022 to around USD 39 billion in 2023, returning to pre-Covid-19 activity levels," the report said. The report saw 2023 as a marquee year for Indian exits with exit values soaring by 15 per cent to USD 29 billion with sale of shares in 340 entities. "In a year marked by global economic uncertainties, India's private equity landscape demonstrated ..

Quadria Capital acquires minority stake in NephroPlus for $102 million

"The transaction will support NephroPlus in serving the growing demand for high quality, affordable dialysis services across India and other markets in Asia," Singapore-headquartered Quadria said

ChrysCapital raises $700 mn to maintain stake in National Stock Exchange

The 'continuation fund' will allow ChrysCapital to maintain its stake in the NSE, where it first invested in 2016, while the firm's older investors sell their stakes to new investors

PE firm Advent International to invest $297 mn in Apollo Hospitals' unit

Advent will invest in compulsory convertible instruments in two tranches for a 12.1% stake in the merged pharmacy business entity, which will have an enterprise value of Rs 22,481 crore

India Inc to tap private credit to finance new projects, says PwC

Tax uncertainty is a big concern for PEs

PE, VC investments decline marginally to $13.5 bn in March quarter: Report

Investments by private equity and venture capital funds have declined by 1 per cent year-on-year to USD 13.5 billion in the March 2024 quarter, according to a report. However, it was 41 per cent higher compared to the preceding December quarter, the report by consultancy firm EY and industry lobby grouping IVCA said. When looked at from a volume perspective, the number of deals was 33 per cent higher at 292 in January-March 2024 against 220 in the year-ago period, it added. "We believe the markets and PE/VC investment activity will be range-bound till clarity emerges on election results and the risk of escalation in the geopolitical conflicts eases down," EY partner Vivek Soni said. The infrastructure sector received the maximum PE/VC investments in the quarter at USD 6.5 billion across 23 deals, 138 per cent higher than the USD 2.7 billion across 14 deals in the year-ago period, it said, adding that the same was led by the USD 2 billion investment by Brookfield in ATC India Tower

Investor climate group eyes assets in private equity, sovereign debt

The Net-Zero Asset Owner Alliance members are being asked to include assets like private debt and equity in their emissions reductions strategy

Investors spoiled for choice with top ice cream makers on table for sale

The stakes are high for Unilever. Once a focal point of growth with labels such as Magnum and Cornetto, the Anglo-Dutch company's ice cream unit has underperformed for the past five quarters

Olympus Capital divests 9.8% stake in Aster DM Healthcare for Rs 1,978 cr

Private equity firm Olympus Capital Asia on Wednesday divested a 9.8 per cent stake in Aster DM Healthcare for Rs 1,978 crore through open market transactions. Olympus Capital Asia through its two affiliates -- Olympus Capital Asia Investments Ltd and Olympus ACF Pte -- offloaded the shares of Dubai-based Aster DM Healthcare on the bourse. According to the bulk deal data available with the BSE, more than 4.42 crore equity shares of Aster DM Healthcare were sold by Olympus Capital Asia Investments and 45.59 lakh shares by Olympus ACF Pte Ltd of the company. Around 4.88 crore shares sold represent a 9.8 per cent stake in Aster DM Healthcare. The shares were disposed of within the price range of Rs 405-406.72 apiece, taking the transaction value to Rs 1,978.35 crore. As of December 2023, Olympus Capital Asia Investments Ltd owned an 18.96 per cent stake in Aster DM Healthcare, shareholding data showed with the bourse. Meanwhile, Capital Group through its affiliate SmallCap World Fun

PE firm Olympus to sell 9.8% stake in India's Aster DM for up to $234.5 mn

Olympus Capital, which owns about 19% stake in the hospital chain, is planning the sale at 400-437.20 rupees per share

PE, VC investments fall to $2.2 billion in Feb as big-ticket deals dry up

Private equity and venture capital investments declined to USD 2.2 billion in February, 39 per cent down when compared with the year-ago period's USD 3.7 billion, a report said on Thursday. On a month-on-month basis PE, VC investments have witnessed a decline of 67 per cent. The number of deals were higher at 120 transactions in February, as compared to 86 deals in January and 57 in February 2023, the report by industry lobby group IVCA and consultancy firm EY said. "This is the second lowest monthly total for PE/VC investments since February 2021. We remain cautiously optimistic as the election super cycle unfolds in India and globally, with many large economies going to the polls in 2024," the consultancy firm's partner Vivek Soni said. In February, there were seven large deals of USD 100 million or above aggregating to USD 1 billion, which is 82 per cent lower than the USD 5.7 billion in January 2024 and 66 per cent lower than the USD 3 billion in the year-ago period, the report

Ananya Birla's Svatantra to get Rs 1,930 cr capital from Advent, Multiples

Private equity majors Advent International and Multiples on Monday committed to invest Rs 1,930 crore in Ananya Birla-promoted microlender Svatantra Microfin for an undisclosed stake. Birla, the daughter of billionaire Kumar Mangalam Birla, will continue to hold a "significant majority stake" in the microlender even after the infusion, a statement said, claiming this to be the largest investment in any microfinance institution. At present, Svatantra and its wholly-owned subsidiary Chaitanya have a team of 17,000 employees serving 42 lakh customers in over 20 states. The microfinance lender, which was founded in 2013, acquired Chaitanya India Fin Credit for Rs 1,479 crore in August last year. Advent's past investments include a bet on Aditya Birla Capital, the Kumar Mangalam Birla-led Aditya Birla Group's non-bank lending arm. In a statement, Ananya Birla termed the investment as a "momentous occasion" and added that it will propel it towards its goal of becoming the "most impactful

Indian market too big to ignore: Beauty and make-up brand Laura Mercier

The brand first entered the Indian market last year and started selling online through the beauty and personal care marketplace, Tira

PE firm KKR considers selling controlling stake in JB Pharma: Report

The US private equity firm is looking to hire financial advisers to help evaluate a sale of its 53.8% stake in the Mumbai-based company, the people said

PE/VC exits surge 36% to $24.8 bn in 2023 amid declining investments

The infrastructure sector emerged as the leader, attracting $11.6 billion in investments in 2023, while traditional favorites such as financial services and technology witnessed a decline