Glenmark sells Life Sciences arm to Nirma

Glenmark Pharma (GPL) is selling 75% stake in Glenmark Life Sciences (GLS) to Nirma. GPL currently holds 82.84% in GLS. Post transaction it would be left with 7.84%. The transaction has been agreed at Rs 615/ share implying an equity valuation of Rs 7,535 cr for GLS. GPL will get Rs 5,651.5 cr for 75% … Read more

Bombay Dyeing selling worli land for Rs 5,200 cr

The Company has agreed to sell 22 acres in Worli to Sumitomo Realty & Development Company Limited, a large commercial real estate investor and developer in the Japanese market. Sale is in two phases Phase 1 –  Bombay Dyeing (BDMC) will receive about Rs. 4,675 crore from the buyer by October 2023. Phase 2 – … Read more

Nikhil Kamath adds onto the stake in Nazara. May add more in future.

Nazara has made a preferential allotment to Nikhil Kamath (Zerodha co-founder). Allotment is for Rs 100 cr @ Rs 714/ per share (pre announcement market price was Rs 759.55/ share) Nikhil controlled entities already had a stake of around 1% in the Company and this deal will increase his stake to around 3.5%. He has … Read more

Reliance Retail targets fund raise through InvIT

Reliance (RIL) is doing everything that one could possible imagine. Whether it’s fund raises or businesses, it’s everywhere. Now it’s subsidiary Reliance Retail Ventures (RRVL) has filed a document with SEBI to raise funds through the InvIT route. (This is the fourth InvIT from Reliance following it’s infrastructure trusts in gas pipelines, Jio telecom towers … Read more

Reliance Retail raises money from QIA at double the valuation in 3 yrs

Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries (RIL) has announced raising Rs 8,278 cr from Qatar Investment Authority (QIA). Investment is raised at a pre-money equity valuation of Rs 8.278 lakh crore QIA will get 0.99% stake in RRVL on a fully diluted basis This fund raise effectively doubles RRVL’s valuation in … Read more

Dr Agarwal’s parent gets more money from TPG and Temasek

Dr Agarwal’s Health Care Ltd (DAHCL) is the parent of Dr Agarwal’s Eye Hospital Ltd (DAEHL). DAEHL is the listed entity in which currently DAHCL owns 71.75%. DAEHL is into eye care and related businesses, majorly in Tamil Nadu. DAHCL whereas is into eye care hospitals, opticals, pharmacies and other related services across the country, … Read more

M&M hives off another business. Raises money from IFC.

Mahindra & Mahindra (M&M) is currently undergoing an extensive reorganisation exercise. It recently, Separated out the Passenger EV business Sold stake in the renewable business Partnered Actis to develop warehousing Now it has announced separating out the Last Mile Mobility Business and is also raising external funding in it from IFC. Last mile mobility business … Read more

Shriram Housing expects to raise external equity by end Q1 FY24

Shriram Housing Finance (SHF), the housing finance subsidiary of Shriram Finance (SFL) is in the process of raising $100 mn growth capital. It targets to conclude the fund raise by end June 2023 Market is speculating Baring to be close to finalise a deal. MD has informed that multiple people are in the fray. SHF … Read more