Investors together own around 30% in co; a deal may fetch them over two-fold return
Canadian fund CPPIB keen to enter private debt segment in India, worried about regulatory uncertainties
“Private debt can be a good opportunity as we see some interesting situations in the country,” said Mark Machin, president and chief executive officer CPPIB. Many private equity global funds including KKR, Apollo Global Management, Blackstone and Baring have specialized debt platforms.
Sequent’s market cap as on Tuesday was Rs 1,670 crore. But the founders are seeking a control premium of 49.7% or 18-20x forward Ebitda multiple, valuing the company at Rs 2,100-2,500 crore, sources said. Some, however, worry that such expectations may turn out to be a potential deal breaker.
India's first sovereign fund — The National Investment and Infrastructure Fund (NIIF) — is one of the major investors in Multiples Private Equity Fund III.
The investor relations team at Granules India denied the promoters are seeking to sell their stake.
Discussions are currently on between the potential suitors & the Shapoorji Pallonji Group for a possible deal.
The deal, if it goes through, will help Essel Group further deleverage its balance sheet.
Kotak PE and OrbiMed together that hold 23% stake in Mumbai-based biopharma company Bharat Serums and Vaccines (BSV) are exiting through this sale. The rest of the stake is with the Daftary family who are relinquishing control but will stay on as a minority partner, said people in the know. Advent will become the largest shareholder in the company.
Investment bank in talks with sovereign funds and family offices in US, Europe for funds. O3 Capital, which already has an NBFC licence, will run the credit business under the NBFC arm. The $300-million credit fund will lend about Rs 100-200 crore each, and the fundraising is expected to be completed before March 2020.
Edelweiss Infra has launched the road show for fundraising for its infrastructure fund Edelweiss Infrastructure Yield Plus Fund, and is likely to close the fund at $750 million by early next year
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