Advent, TPG-backed KreditBee plans $150 mn pre-IPO round
Lending startup KreditBee, which counts private equity firms Motilal Oswal Alternates, TPG NewQuest and Advent International as its investors, is planning to raise over $150 million (about Rs 1,270 crore) in a new round of funding, a top executive told VCCircle. The planned round could be its final fundraising exercise from ......
Advent-owned Suven Pharma to buy majority stake in NJ Bio for $64 mn
Private equity giant Advent International-owned contract development and manufacturing organization (CDMO) Suven Pharma Saturday said it will acquire a controlling stake in US-based NJ Bio Inc. for $64.4 million (nearly Rs 550 crore). Suven will acquire a 56% stake in NJ Bio, a technology-driven CDMO specializing in complex and innovative drug ......
Grapevine: Advent International, VIP Industries, Groww, Razorpay, EESL, and NIIF in news
Advent International is in advanced talks to acquire a controlling stake in a luggage company, while Energy Efficiency Services is preparing to divest its stake in a smart meter joint venture, according to various media reports. Also in news, Groww and Razorpay may see a cut in valuation. Advent International Advent International ......
Advent, Jhunjhunwala family-backed companies get SEBI nod for IPO
A packaging products maker backed by private equity firm Advent International and a healthcare technology company backed by the family of late stock market investor Rakesh Jhunjhunwala have received regulatory approval to float their respective initial public offerings (IPOs). The Securities and Exchange Board of India (SEBI) has issued its ......
Advent-controlled Suven Pharma appoints former Piramal exec as chairman
Private equity firm Advent International-controlled Suven Pharmaceuticals Ltd has appointed former Piramal Pharma Solutions Ltd’s chief executive officer Vivek Sharma as its new executive chairman with immediate effect. Sharma succeeds Annaswamy Vaidheesh, who is transitioning from the board to serve as vice-chair of Suven’s Advisory Council, the Hyderabad-based drugmaker said in ......
Why PE investors are eyeing a bigger pie of India’s financial services sector
The Indian financial services sector is buzzing with activity as private equity investors, both global and domestic, pour substantial funds into the market. Financial sponsors have made a flurry of substantial investments in the sector, including Warburg Pincus' acquisition of Shriram Housing Finance, Advent and Multiples PE’s investment in Svatantra ......
Grapevine: Unacademy, Allen, Access Healthcare, Neuberg, KKR, others in news
At least four private equity firms are in a race to acquire a majority stake in Access Healthcare, Allen Career Institute is in advanced talks to merge Unacademy with itself and Kotak Pre-IPO Opportunities Fund is nearing a deal to acquire a 15% stake in a diagnostics company, according to ......
Deals Digest: Funding momentum jumps on back of four over $100 mn transactions
Overall funding secured by private companies touched multi-week highs as the cumulative value of capital raised touched nearly $1 billion, almost doubling from the last week’s total. The week gone by recorded four transactions valued over $100 million, with participation from large foreign investors including Singapore’s state-owned investor Temasek and Ontario ......
Grapevine: PAG, Manjushree, BofA, Abundantia, and Edelweiss Financial in news
Private equity firm PAG has agreed to acquire a majority stake in a packaging solutions company from another PE, while Abundantia Entertainment is seeking to raise funds and Bank of America Corp has seen three senior dealmakers in its India unit leave amid an internal probe into an alleged misconduct. Also ......
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