BPEA EQT, formerly Baring PE Asia, is in advanced discussions to acquire a stake in Shriram Housing Finance Ltd (SHFL), the mortgage lending arm of Shriram Finance, a media report said.
The private equity firm could be eyeing a controlling stake in the company, The Economic Times reported, citing people with knowledge of the development. The report also cited a senior Shriram Housing executive as denying any buyout rumour.
Shriram Finance holds 85% of the housing finance subsidiary while the rest is with Valiant Mauritius (P) Ltd. The group will take a final call on the quantum of the stake sale after firm offers come in, the report said.
Cholamandalam-Aptus Value
Financial services firm Cholamandalam Investment & Finance is in talks to pick up a majority stake in mortgage lender Aptus Value Housing, CNBC-TV18 reported, citing people familiar with the matter.
The discussion began after Aptus promoter and Managing Director M Anandan, who is also a former employee of Cholamandalam, failed to select a successor in the family to run the business, the report said. None of the parties confirmed stake-sale talks, the report said.
ADIA-Lenskart
Sovereign wealth fund Abu Dhabi Investment Authority is nearing a deal to acquire a stake in eyewear brand Lenskart for about $500 million, Bloomberg reported, citing people with knowledge of the development.
The deal, which would value Lenskart at more than $4 billion, may be announced this week, the report said.
Lenskart is backed by a number of investors including private equity firm KKR & Co., Japan's SoftBank Group Corp., Singapore state investment firm Temasek and India's PremjiInvest.
Byju’s-Aakash
Edtech unicorn Byju’s is looking to raise as much as $250 million through the issuance of convertible notes by its tutoring service unit Aakash Educational Services, Bloomberg reported, citing people familiar with the matter.
Aakash will issue the notes that will convert into equity at a discount of 20% to the listing price of the unit’s planned initial public offering, the report said.
Some investors in Byju’s are expected to participate in the round, the report said, without disclosing details.
