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

Blackstone completely exits out of Sona. Made enviable returns.

Funds affiliated with Blackstone were classified as promoters and held 20.50% in the Sona Comstar before this transaction. Blackstone has now sold off this final balance 20.5% @ Rs 410/ share aggregating to Rs 4,917 cr through open market bulk deals Buyers included Foreign Institutional Investors, Sovereign Wealth Funds, Domestic Mutual Funds and Insurance. companies. … Read more

Ajanta in keeping with the tradition announces one more buyback

Ajanta Pharma has announced buyback once more. This is 4th year in a row, previous 3 details can be checked here. Current buyback details are – 22,10,500 shares constituting 1.73% of the outstanding capital Buyback price is Rs 1,425/ share which is at 17% premium to the current market price Rs 315 cr will be … 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

Tube raises Private Equity money in EV subsidiary

Electric Vehicles (EV) continues to attract investors’ attention. Now Tube Investments of India (TII) has announced fund raising in it’s wholly owned subsidiary, TI Clean Mobility Private Limited (TICMPL). TICMPL, a recent initiative of TII, is focused into manufacture and marketing of Electric Three Wheelers and through it’s subsidiaries into Electric Tractors and Electric Heavy … Read more

Private equity major exiting out of Shriram Finance

Apax Partners is rumoured to sell its entire stake in Shriram Finance through block deal in secondary market on January 13, 2023. Apax currently holds 4.63% stake in the Company. This is in lieu of the 16.73% that it held in Shriram City Union Finance (SCUF) as on September 30, 2022. Subsequently, SCUF had merged … Read more

Advent takes controlling stake in Suven Pharmaceuticals

Private Equity major, Advent has confirmed that it has entered into a definitive agreement to acquire a controlling stake in Suven Pharmaceuticals (SP). Advent is acquiring 50.1% from the promoters (Jasti Property and Equity Holdings Private Limited) at Rs 495/ share totalling Rs 6,313 cr. Above considration is 100% cash payable by Advent to the … Read more

Ajanta Promoters sell some stake. Continue to retain significant.

Ajanta Pharma has informed that two of it’s prom0ter entities have sold stake totalling 4.38% into the Company through open market transactions. Total Promoter stake consequently has reduced from 70.48% to 66.1% Stake has been sold by Aayush M. Agrawal, trustee Aayush Agrawal Trust (3.03%)  and Ravi P. Agrawal, Trustee Ravi Agrawal Trust (1.35%) Reports … Read more