US-based private equity firm Bain Capital has reached out to drugmaker Dr Reddy’s Laboratories for a joint bid to buy the promoter the Hamied family’s stake in Cipla Ltd, a media report said.
Dr Reddy’s Laboratories is believed to be evaluating the opportunity and countering the offer by Torrent Pharma, The Economic Times reported citing people close to the matter.
Torrent is currently the sole Indian strategic investor in the race. It has submitted a non-binding bid for the Hamied family’s stake in Cipla. It is competing against PE firms Blackstone and BPEA EQT, according to reports.
Fintech unicorn BharatPe has held discussions with its existing investors for a fresh equity funding round, The Economic Times reported, citing people aware of the deal.
The New Delhi-based company is looking to raise $100 million in the round, the report said. It is also looking to bring a new investor to its cap table, the report said.
BharatPe last raised a major equity round in 2021 when it achieved the valuation of $3 billion. However, the new round is being negotiated at a lower valuation, the report said.
Adani Logistics, JSW Jaigarh Port, TVS Group and Welspun Group are in the fray to bid for warehouse and industrial park developer Renaissance Indus Infra, which is undergoing an insolvency process, The Economic Times reported, citing people close to the matter.
Two special purpose vehicles floated by promoter Mayur Suchak’s Renaissance Group are undergoing insolvency. These are Renaissance Indus Infra, which is involved in warehousing and industrial development in or around Bhiwandi, Mumbai; and Renaissance Urban Infra, which is engaged in the business of infrastructure development and creation of industrial smart cities, the report said.