Sector Scan: Fresh slippages add to asset quality woes of MSME-focused NBFCs
Non-bank lenders enjoyed two years of high growth post COVID-19 as a pent-up demand in the economy led to a ripple effect and balance sheets ballooned unabated. Customers, too, were also disciplined in servicing their loans, leading to a lot of money being pumped into the sector. However, many such ......
What's the upside for Evolvence, Steadview as Unimech floats IPO?
Alternative investment firms Evolvence India and Steadview Capital as well as a private equity fund managed by ValueQuest are sitting on a neat upside within six months of investing in Unimech Aerospace and Manufacturing Ltd as the company floats its initial public offering. Bengaluru-based Unimech, which makes complex components for the ......
GIC takes majority stake in TPG's India-anchored healthcare platform
Singapore’s sovereign wealth fund GIC has doubled down on its investment in Asia Healthcare Holdings (AHH), a single-specialty hospitals platform it backs alongside US-based private equity firm TPG, emerging as its largest shareholder. GIC has committed an additional $150 million (Rs 1,274 crore) to AHH, largely structured as a secondary transaction, raising ......
Grapevine: Avendus Capital, Imperial Blue, KKR, OTPP, Akzo Nobel, InCred, and Enel Group in news
The sale process of Pernod Ricard’s Imperial Blue whiskey, Akzo Nobel India Ltd, Enel Group’s renewable energy assets in India and KKR’s stake in Avendus Capital has gathered momentum, according to various media reports. Also in news, KKR and OTPP are set to invest in Highways Infrastructure Trust and InCred ......
Grapevine: Premji Invest, Macquarie, KKR, Shiprocket, Corona Remedies, Ola in news
A consortium of Premji Invest and Claypond Capital is set to acquire a significant minority stake in an airline, while KKR has set its eyes on a pie of Rebel Foods and a senior executive at Ola has resigned, according to various media report said. Among other news, Shiprocket, Shivalaya ......
Nexus, RTP Global-backed 56 Secure lays off staff, trims ops on funding delay
56 AI Technologies Pvt Ltd, a Bengaluru-based startup that operates as 56 Secure and counts venture capital firms Nexus Venture Partners and RTP Global as its investors, has laid off most of its employees amid mounting losses and a delay in raising fresh funding, VCCircle has gathered. The startup, which offers ......
Marquee sovereign funds bet over $50 mn on Blackstone-backed Indian company
Three of the world’s largest sovereign wealth funds, which have been actively investing in India for several years, have bet on an Indian company controlled by Blackstone, the world’s largest private equity firm. Norway’s Government Pension Fund Global, Singapore’s GIC and the UAE’s Abu Dhabi Investment Authority (ADIA) have invested a ......
India’s newest airport may seek another backer as it prepares for takeoff
The new Noida International Airport, being developed at Jewar in Uttar Pradesh, may seek another backer after it starts commercial operations sometime next year as the Swiss company that is constructing the project could look into the possibility of diluting its stake, people aware of the matter told VCCircle. The airport, ......
8i Ventures, Antler top-up bets on local telematics player
Venture capital firms 8i Ventures and Antler have invested in a telematics startup in its ongoing seed round, roughly six months after they bet on the company in its pre-seed round, it is learnt. 8i - a backer of companies like Blue Tokai, Slice, M2P, Creditail, Triple-A, amongst others - along with ......
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 ......
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