Private equity firm Apax Partners has emerged as the frontrunner to pick up a minority stake in IBS Software from Blackstone, The Economic Times reported, citing people close to the development.
Apax is also believed to have signed a pact to buy a 32% stake in the transportation and logistics technology firm IBS Software.
The PE firm has offered $450-$500 million for the stake, valuing IBS Software at $1.4-$1.5 billion, the people mentioned above said.
JPMorgan is advising Blackstone to find a buyer for its stake.
Okinawa
Electric two-wheeler maker Okinawa Autotech is in advanced discussions with a host of private equity firms to raise $100 million (around Rs 800 crore), the company’s managing director Jeetender Sharma told ET.
He said the funds will be deployed to commission its third manufacturing facility, which will have a total installed capacity of one million units, to develop new products and to manufacture powertrains indigenously.
Niva Bupa
Singapore state investment firm Temasek Holdings, which has been on a hectic investment as well as exit activity in India in the last couple of years, is leading the race to buy a minority stake for $120-130 million (about ₹985-1,070 crore) in Niva Bupa Health Insurance Ltd, The Economic Times reported, citing people aware of the deal.
The proposed investment round led by Temasek is likely to value the company at around ₹11,000-12,000 crore ($1.34 -$1.46 billion), the people said.
In March this year, VCCircle had reported that Temasek Holdings, Warburg Pincus and Canada Pension Plan Investment Board (CPPIB) are keen to participate in Niva Bupa Health Insurance Ltd’s upcoming $100 million fundraising.