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 ......
NIIF-controlled iBus gets new backer on board as another PE investor checks out
Digital infrastructure provider iBus Network and Infrastructure Pvt Ltd has brought on board International Finance Corporation (IFC), the private-sector investment arm of the World Bank Group, as a new investor. IFC has invested Rs 280 crore ($34 million) to pick up a minority stake in iBus, providing an exit to some ......
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 ......
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 ......
Jhunjhunwala family-backed IKS Health may trim IPO size
IKS Health, a Mumbai-based healthtech platform majority owned by the late stock market investor Rakesh Jhunjhunwala’s Rare Enterprises, is contemplating a reduction in the size of its initial public offering (IPO), a person familiar with the matter told VCCircle. IKS Health, operated by Inventurus Knowledge Solutions Ltd, filed a draft red ......
Former Practo, Unacademy exec foraying into elder care with new venture
Vikas Kumar, a founding team member at digital healthcare platform Practo and former chief business officer at edtech unicorn Unacademy, is gearing up to start a new venture in the elder care and wellness segment in India. Kumar, who left SoftBank-backed Unacademy in June after less than a year with the ......
Grapevine: PE-backed firms eye Sharp Sight; Bain Capital enters race for HealthCare Global
The founders of Sharp Sight Eye Hospitals are in talks to sell a controlling stake in a move that would allow private equity investor InvAscent to exit the company, a media report said. VCCircle first reported that Sharp Sight has invited bids from investment bankers to raise fresh capital and facilitate the exit of InvAscent. PE-backed eyecare chains ASG ......
Grapevine: PEs eye India's largest cardiac stent maker; O2 Power race heats up
Private equity firms KKR, TPG Capital and Apax Partners are evaluating India's largest cardiac stent maker Sahajanand Medical Technologies (SMT), valuing the company at Rs 3,500-4,000 crore, a media report said. One more global private equity firm and Mumbai-based pharmaceutical firm Alkem Laboratories are also in the fray, The Economic Times reported, citing people familiar with ......
Bottomline: PE-backed Kogta Financial’s loan book soars past $500 mn mark
Non-banking financial company Kogta Financial, which is backed by private equity names like Morgan Stanley PE Asia, Multiples PE, OTPP and Javelin Investments, recorded a rise in all its financial metrics for the financial year-ended 2024, while scaling the $500 million milestone in for its loan book. The company, mainly dealing ......
Grapevine: General Atlantic, KKR, EQT eye PE deals; FirstCry, Anthem in IPO news
General Atlantic and KKR are among 4-5 private equity firms vying for a majority stake in Faridabad-based hospital chain Asian Institute of Medical Sciences (AIMS), a media report said. The deal could value the 1,200-bed hospital chain, focused on North and East India, at Rs 1,500 crore ($179 million), The Economic ......
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