Grapevine: Temasek nears VFS stake deal; LG Electronics taps banks for India IPO
Temasek Holdings Pte is nearing a deal to acquire a significant minority stake in VFS Global, valuing the visa outsourcing firm at around $7 billion, including debt, a media report said. The Singapore state-owned investor is expected to purchase about 20% of the company, which is majority-owned by Blackstone Inc., Bloomberg reported, citing people ......
Track3D, Mitra, Zivy and Supersquad bag early-stage funding
AI-based information management platform Track3D, FMCG startup Mitra, tech startup Zivy, creator monetisation startup Supersquad have received early-stage funds, companies announced on Wednesday. Track3D Track3D, an AI intelligence platform for the construction industry, secured $4.3 million in seed funding. The round was led by Endiya Partners, with participation from Shadow Ventures, Monta ......
Biocon-backed Bicara Therapeutics raises $315 mn in US IPO
Bicara Therapeutics raised $315 million in its initial public offering in the United States, the TPG-backed cancer therapy developer said on Thursday. The company priced its offering of 17.5 million shares at $18 apiece, at the high-end of its targeted range of $16 to $18 each. The IPO values Bicara at $881.4 million. Bicara ......
PGIM opens Abu Dhabi office, joining money managers' rush to UAE capital
PGIM, the investment management arm of U.S. insurer Prudential Financial, has opened an office in Abu Dhabi, it said on Thursday, joining a slew of money managers coming to the United Arab Emirates capital to tap a growing pool of wealthy clients. PGIM, which had $1.33 trillion in assets under management ......
Grapevine: PhysicsWallah eyes fresh funding; Zepto, HDB Financial plan IPOs
PhysicsWallah is close to finalising a $150 million (nearly Rs 1,260 crore) funding round, led by Asian hedge fund Hornbill Orchid, valuing the edtech firm at $2.8 billion, a media report said. Hornbill Orchid is expected to invest $70-80 million, while venture capital firm Lightspeed will contribute a significant portion of the remaining ......
Brookfield-backed Data InvIT raises nearly $1 bn in rare bond deal to fund ATC India purchase
Brookfield-backed Data Infrastructure Trust, an Indian infrastructure investment trust (InvIT), has raised $941 million via rupee bonds to fund the purchase of American Tower Corp's (ATC) local assets, per a term sheet seen by Reuters. However, in what is a rare structure for the Indian market, only foreign investors are eligible to subscribe ......
Grapevine: Blackstone JV plans IPO; Pernod Ricard may sell whisky brand
Ventive Hospitality, a joint venture between Blackstone Group and Panchshil Realty, plans to file a draft prospectus for an initial public offering in the coming weeks, a media report said. The company aims to raise around Rs 2,500 crore through a fresh share issue. JM Financial and Kotak Mahindra Capital have been appointed ......
SoftBank-backed Of Business to tap bankers for IPO of up to $1 bn
SoftBank-backed OfBusiness, an Indian shopping website that offers raw materials to businesses, is planning an Indian stock market offering worth up to $1 billion and is close to appointing bankers, a top executive told Reuters on Tuesday. The company is in active talks with Bank of America, Citi, JP Morgan and ......
The Hosteller, RecommerceX, LiaPlus AI, Nautical Wings bag early-stage funding
Backpacker hostel chain The Hosteller, chemical recycling and sustainability startup RecommerceX, customer support solutions provider LiaPlus AI and electric propulsion technology solutions startup Nautical Wings have raised early-stage funds, the companies said on Thursday. The Hosteller The Hosteller, a backpacker hostel chain, has raised $4 million (about Rs 32 crore) in its ......
Carlyle to sell stake of up to $1.2 bn in Hexaware IPO
Carlyle Group affiliate, CA Magnum Holdings, plans to sell shares worth 99.5 billion rupees ($1.2 billion) in the upcoming IPO of Hexaware Technologies, according to draft papers filed on Friday. The U.S.-based private equity giant acquired a controlling stake in the Indian company in 2021, a year after Hexaware was taken private ......
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