IPCA acquires significant stake in Unichem

IPCA Laboratories is acquiring 33.38% from the promoters of Unichem Laboratories (UL). Promoters before this transaction owned 50.94% of UL. Out of the balance, 9.85% was held by the institutions and 39.21% by the retail investors.  Transaction is announced @ Rs 440/ share aggregating to Rs 1,034.06 cr. This implies a premium of about 17% … Read more

Nestle rumoured to be in talks to acquire Ching’s Secret

As per the newspaper reports, Nestle is in discussions to acquire Mumbai-based Capital Foods Pvt Ltd (CFPL). CFPL makes the Ching’s Secret brand of spicy noodles and fusion chutneys infused with so-called “desi Chinese” flavors. It also sells Smith & Jones cooking pastes and masala mixes. The Company was promoted by the current Chairman, Ajay … Read more

Sanofi to demerge consumer healthcare business

As per newspaper reports, Sanofi India is working on spinning off it’s consumer healthcare business in India in a separate listed entity. The subject unit’s products include leading anti-allergy brands such as Allegra and Avil, pain management drug Combiflam and Vitamin D brand Depura. The business posted revenue of Rs 1,000-1,250 crore in CY22 (against … Read more

Controlling stakeholder Crompton decides to merge Butterfly with itself. Couldn’t proceed due to rejection from Butterfly’s public shareholders.

Crompton had acquired controlling stake in Butterfly last year. For details check here. Currently, Crompton owns 75% stake in the Company, previous promoter group 7.78%, DIIs 5.61% and balance 11.58%  by public. Crompton has now decided to merge Butterfly within itself. Consequently, there would be only one listed entity i.e., Crompton and other shareholders of … 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

Mahanagar Gas goes for inorganic route

Mahanagar Gas (MGL) is acquiring 100% of Unison Enviro Private Limited (UEPL). UEPL incorporated in December 2015, is a subsidiary of Ashoka Buildcon. The Company has been supported by Morgan Stanley India Infrastructure fund since pre revenue days. It has been granted authorization from Petroleum and Natural Gas Regulatory Board (PNGRB) to develop City Gas … Read more

Minda acquires significant stake in Pricol. Sparks hostile takeover buzz.

Minda Corporation has acquired 15.70% stake in Pricol through open market transactions. Shares have been acquired @ Rs 209/ share, similar to the current prevailing price. The amount spent on acquisition is Rs 400 cr Did Pricol promoters also sold any shares? Promoters held 36.53% stake in Pricol as at December 31, 2022. Of the … Read more

Vedanta to divest its foreign Zinc assets to Hindustan Zinc

Vedanta has approved the sale of it’s international Zinc assets in South Africa and Namibia to it’s subsidiary Hindustan Zinc (HZL). The transaction is valued at $2.98 bn (approx Rs 25,000 cr) It’s an all-cash deal, which would be completed in a phased manner over 18 months Valuations are estimated at 14.9x FY 24 EV/EBITDA. … Read more

Eris buying a part of dermatology portfolio of Glenmark

Eris Lifesciences is acquiring 9 dermatology brands from Glenmark Pharma. The brands are – Onabet, Halovate, Sorvate, Luligee, Demelan, Aceret, Dosetil, Revize, and Powercort, and their sub-brands. The acquisition is for the India and Nepal Territories Consideration for the transaction is Rs 340 crore payable in cash. Turnover of the acquired brands: FY 20 – … Read more