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 eyes benchmark returns from second portfolio exit in 2024
Global private equity firm Advent International, which has been active in India this year having struck an exit from Bharat Serums and making fresh bets in two companies, is now looking to hit the sell button on a portfolio company through an initial public offering. The US-based PE firm intends to partially ......
Grapevine: TPG may lead edtech firm’s funding; Advent mulls Manjushree monetisation
Eruditus, an Indian edtech startup, is nearing a $150 million funding round led by TPG, a media report said. This would be the largest fundraising by an Indian education firm in recent years. The new investment could value Eruditus at up to $2.3 billion, contingent on achieving performance targets, Techcrunch reported, ......
Exclusive: Advent’s healthcare investment platform mulls betting on south Indian API maker
Advent, one of the world’s biggest private equity players, is evaluating an investment in a Chennai-based active pharmaceutical ingredient (API) company through its pharma platform Cohance, three people aware of the development told VCCircle on condition of anonymity. The PE firm, which rebranded its API and CDMO platform to Cohance in ......
Exclusive: PE-backed platforms in fray for API maker Aurore Life
Hyderabad-based bulk-drugs maker Aurore Life Sciences has attracted interest from a number of suitors, including pharmaceutical platforms formed by private equity firms, three people aware of the development told VCCircle. The development comes three years after Aurore decided to merge with Solara Active Pharma Sciences Ltd and two years after the ......
Indian, global PE firms plan food service platforms, encircle QSR players
A number of foreign and Indian private equity firms are approaching quick-service restaurant (QSR) brands in several categories as they explore the possibility of separately creating food service platforms in the country, three people aware of the developments told VCCircle. The PE firms are likely to invest in larger brands to ......
Grapevine: PEs, others eye Theobroma; layoffs lead to closure murmur at ReshaMandi
At least four entities, including Switz Group and private equity firms Kedaara Capital, Carlyle, and ChrysCapital, have submitted non-binding bids for a majority stake in Indian bakery chain Theobroma, a media report said. VCCircle first reported that US investment giant Carlyle Group, US-based General Atlantic, Advent International, and India’s ChrysCapital are evaluating investing in the bakery chain. Non-binding bids were submitted ......
Exclusive: Micro Labs set to acquire Nigerian generics company
Bengaluru-based pharmaceuticals firm Micro Labs Ltd, one of the largest privately held pharma companies in India, is close to acquiring a Nigerian pharmaceuticals company, in what could be its second inorganic move in eight years, VCCircle has learnt. The pharmaceutical formulations maker and distributor, which earlier sold its subsidiary RA Chem Pharma to ......
Advent International looks to stitch secondaries deal to exit packaging firm
Global private equity firm Advent International, which is reportedly increasing its share of corpus to deploy in India for striking fresh bets, has hired bankers to help exit one of its portfolio firms through a secondaries deal, two people aware of the development told VCCircle. Advent International has been trying to ......
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 ......
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