City Bain Financial News

Manappuram Finance and become joint owner of the shadow lender that's the country's second-largest gold loan company. The acquisition will take place through a primary infusion and a secondary sale of shares by the current promoter family, led by managing director and chief executive officer VP Nandakumar, the companies said in a press release. He and his family own 34.73% of the non-banking finance company (NBFC). As part of the transaction, Bain Capital entities-BC Asia Investments XXV and BC Asia Investments XIV-will invest ₹4,385 crore to acquire an 18.6% stake via preferential allotments of equity and warrants at ₹236 per share, a premium of about 30% over the six-month average trading price. The transaction will trigger a mandatory open offer for the purchase of an additional 26% stake on an expanded capital basis (excluding warrants).

Mint first reported that IndiaRF has mandated Rothschild to help scout for buyers for the portfolio company that is seeking a valuation of about $1 billion.The stake sale underscores rising investor appetite for scaled API platforms with export-heavy books, especially as India’s pharma supply chain strengthens its position in regulated markets and private equity firms seek pre-IPO opportunities in defensible healthcare assets.“The exact amount of the ongoing fundraise is contingent to an acquisition that Synthimed is evaluating,” a third person said. “If the acquisition goes as planned, the round may potentially become larger with a primary capital infusion.

Subscribe to enjoy similar stories. MUMBAI : ChrysCapital has acquired a significant minority stake in Bengaluru-based precision manufacturing solutions provider Nash Industries, top executives told Mint. “Nash exemplifies the emergence of globally competitive manufacturing from India.

Mint in an interview.From JSW Paints acquiring AkzoNobel to Torrent Group acquiring J.B. Chemicals & Pharmaceuticals to Bajaj Finance buying out Allianz, growth-hungry Indian business groups are now making substantive M&A moves, he said.“We have seen that capital from global investors is headed towards India, and domestic capital continues to flow unabated.

Subscribe to enjoy similar stories. Francisco D’Souza, the former Cognizant chief who had once helped secure the $2.7-billion TriZetto healthcare software deal and locked horns with its rival HealthEdge in court, is now betting big on that very competitor. This time, steering its next chapter with Bain Capital.

Manappuram Finance shares will be in focus on Friday after Bain Capital announced it has entered into definitive agreements to acquire joint control in the company through its affiliates, BC Asia Investments XXV Limited and BC Asia Investments XIV Limited, in partnership with existing promoters. As part of the deal, Bain Capital will invest Rs 4,385 crore to acquire an 18% stake on a fully diluted basis via preferential allotment of equity and warrants at Rs 236 per share—a 30% premium over the six-month average trading price.

Manappuram Finance said on Thursday investment firm Bain Capital would pick up an 18% stake in the gold loan provider for 43.85 billion rupees ($508 million). Bain Capital will make the investment through subscription to shares and warrants at 236 rupees apiece, implying a 30% premium over the six-month average trading price of Manappuram Finance.

Subscribe to enjoy similar stories. Mumbai: Global private equity firm TPG Capital and Singapore government’s sovereign wealth fund GIC have entered the race to acquire up to 49% stake in the Indian operations of Chinese consumer durables maker Haier, four people aware of the development said. While TPG has teamed up with the Burman family, GIC is bidding along with the Goenka family of the Welspun Group, these people said.

Manappuram Finance shares will be in focus on Monday as talks between the company and American private equity major Bain Capital reach the final stage. Bain is expected to acquire a significant portion of the promoter stake in India’s second-largest gold loan provider, sources said. The promoter group, led by Managing Director and CEO Nandakumar VP, currently owns 35.25% of Manappuram, which has a market capitalization of Rs 17,000 crore, based on its closing share price of Rs 200.85 on the BSE on Friday.

Bain Capital is finalising a deal with the promoters of Manappuram Finance to buy a controlling stake in the Kerala-based gold loan provider and non-bank lender, people aware of the development said. The Reserve Bank of India lifted restrictions on the latter’s subsidiary, Asirvad Micro Finance, a month ago.

Brookfield Capital Partners (UK) Ltd. entered the bidding frenzy for Insignia Financial Ltd., joining Bain Capital and CC Capital Partners with an offer for the Australian wealth management firm.

RedNote is filled with Americans who find that its users are obsessed with Luigi Mangione. Luigi Mangione, the alleged CEO killer, has caused a stir on China's RedNote social network.

strategic growth investment in Dhoot Transmission Group (Dhoot), a leading manufacturer of automotive components.

Kolkata | Mumbai: Family offices of prominent industrialists, private equity funds are considering acquiring a majority stake in the Indian operations of Haier for a little over a billion dollars as the Chinese consumer appliances and electronics major seeks to indigenise its business amid heightened regulatory and bureaucratic scrutiny, people familiar with the matter said.

Bain Capital said on Wednesday it plans to launch a tender offer for Fuji Soft shares even without the backing of the Japanese firm's board should a second-round bid from rival suitor KKR fail. The estimated $2 billion bid for just under half of the Japanese IT firm's shares likely portends a rare hostile tussle between the two global private equity giants. Bain last week offered 9,600 yen per share, 1.6% more than KKR has done. KKR, which has the backing of the Fuji Soft board, secured 33.9% in a first-round tender that managed to dodge an earlier bid from Bain that was at the time higher than its own.

Healthcare Global Enterprises Ltd (HCG), the country’s largest speciality cancer care hospital chain, from another private equity firm CVC Capital Partners, said people aware of the matter. The development comes less than six months after KKR made a return to the Indian hospital sector, after a gap of two years The private equity firms are aiming to sign binding documents this month, latest early January. Trumping a rival bid by Bain Capital, KKR entered into an exclusivity pact in late October with CVC for bilateral negotiations to acquire CVC’s 60.36% stake at a price of Rs 425-450 per share. This is at a 10-15% discount to the Rs 509.85 of Tuesday closing price, which translates into a market value of Rs 7,106.63 crore. But the stock has surged 43% in the last six months on the back of a strong financial performance and expectations of a sale. In the past month alone, HCG shares have risen 14%.

Piramal Enterprises Ltd and Bain Capital Credit surrendered the licence for their asset reconstruction company (ARC), India Resurgence Asset Reconstruction Company, to the Reserve Bank of India, a development that shows growing challenges in the distressed assets market, said people aware of the development. Launched in 2018, the fund had invested in stressed assets using a mix of debt and equity. Regulatory hurdles, including restrictions on equity sales and difficulties in providing exits to equity investors, have now made the business of ARCs less attractive.

Subscribe to enjoy similar stories. Macrotech Developers Ltd, which operates under the Lodha brand name, plans to build and scale its digital infrastructure business on its own, after recently buying out existing investors' stakes, said a top company executive. In the last two months, the Mumbai-based developer purchased the entire stake held by private equity firm Bain Capital in three of the company's digital infrastructure subsidiaries -- Bellissimo Digital Infrastructure Development Management Pvt.

Subscribe to enjoy similar stories. The alchemy of the venture capital process, in which investments are catalyzed over a number of years into a successful IPO or a big M&A deal, is under pressure. Investors are demanding to extract returns from VC firms and startups even though the IPO market is still in a state of recovery, reflecting lingering economic anxieties and other factors.

Haldiram Snacks Food Pvt Ltd, the 87-year-old legacy brand which is India’s largest snack and convenience foods company. Earlier, it was reported that Haldiram’s promoters were planning to sell a controlling 51 per cent stake, but now a new report says they are looking to offload 10-15 per cent minority stake. Many global investors have been vying to buy a stake in the cash-rich and profitable company which has a long legacy of manufacturing the iconic Indian savoury snack, Bikaneri bhujia.

Subscribe to enjoy similar stories. The promoters of Haldiram Snacks Food Pvt Ltd. are now looking to offload 10-15% stake against the initial plan to sell a majority holding in India’s largest snack-maker that has drawn interest from top global investors, said three people with the knowledge of the development.