KKR-backed Hero Future Energies announces mega investment plan
Indian conglomerate Hero Group's power production unit plans to invest $20 billion over the next six years to scale up its capacity by nearly 16 times, chairman Rahul Munjal told Reuters at an industry event on Tuesday. Hero Future Energies, backed by global investors such as KKR and International Finance Corporation ......
KKR-backed Livspace's topline rises 21% in FY24, EBITDA loss halves
Private equity firms TPG and KKR-backed home interior and renovation company Livspace's revenue expanded 21% in FY24, while cutting its adjusted Ebitda loss by half during the same period. The company's revenue grew to Rs 1,185 crore from Rs 981 crore while its gross margin improved by nearly 39% to Rs 598.6 ......
Grapevine: KKR reworking BookMyShow deal; Race for Ayana Renewable in final lap
Private equity firm KKR is renegotiating its planned deal to invest in Reliance Industries-backed BookMyShow, India’s largest online ticketing platform, a media report said. The PE firm’s move comes after food delivery company Zomato recently agreed to acquire digital payments company Paytm’s entertainment business, The Economic Times reported, citing people aware of ......
KKR to sell 17% stake in India Grid Trust
U.S. private equity firm KKR's affiliate, Esoteric, will sell a 17.3% stake in India Grid Trust (IndiGrid) for $213.6 million, the Indian investment firm said on Wednesday. The sale involves 135.8 million IndiGrid shares at an offer price of 132 rupees each. The offer comprises a base offer of 9.66% stake ......
KKR-backed IndiGrid teams up with Norfund, UK’s BII for transmission projects
India Grid Trust (IndiGrid), the infrastructure investment trust (InvIT) backed by private equity firm KKR, has snagged investments from two foreign and one Indian investor for its greenfield interstate transmission systems (ISTS) projects. IndiGrid had won three ISTS projects last year that are under construction. These are being constructed by three ......
KKR's Q2 net income soars 49% on higher fees
Private equity group KKR & Co said on Wednesday its second-quarter adjusted net income jumped 49% year-on-year, driven by an increase in management, transaction and performance fees, as well as earnings from its annuities business. KKR's adjusted net income rose to $972 million from $653 million a year earlier. This translated ......
Grapevine: Nomura joins race for Avendus; Adani Wilmar owners to pare stake
Nomura, Japan's largest investment bank, has entered the race to acquire Indian investment bank Avendus, shifting from its role as an advisor to a potential bidder, a media report said. The sale has drawn interest from Japan’s Mizuho and the US buyout firm Carlyle. KKR, which holds a 63% stake, is seeking a valuation of Rs ......
KKR moves closer to sealing stake sale deal for JB Chemicals
Global private equity giant KKR is in advanced talks with a company to sell its stake in Indian drugmaker JB Chemicals & Pharmaceuticals Ltd, two people aware of the development told VCCircle. KKR has been in talks with multiple suitors to sell its stake in Mumbai-listed JB Chemicals for the past ......
Grapevine: Torrent may buy into CVC-backed Gujarat Titan; Alkem gets PE suitors
Ahmedabad-based Torrent Group has reached an informal agreement with CVC Capital Partners to acquire a majority stake in Indian Premier League (IPL) franchise Gujarat Titans after the ownership lock-in period ends in February 2025, a media report said. Gautam Adani's Adani Group, initially a contender, has reportedly withdrawn from the race, The Economic Times reported, ......
Grapevine: Three firms make cut for Avendus; suitors line up for HUL ice-cream unit
Carlyle, Premji Invest, and Japan's Mizuho Financial Group are vying to acquire a controlling stake in Avendus Capital, currently owned by KKR, a media report said. The three bidders advanced after an initial round of screening, which also saw interest from private equity players TPG Capital and TA Associates. Due diligence is underway, with final offers expected by the ......
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