Byju’s unable to pay salaries as funds locked: Founder Raveendran

Byju Raveendran, founder and CEO at troubled edtech startup Byju’s hit out at a group of investors, stating that their move to disable the company from using the funds raised through the rights issue has hindered disbursement of salaries to employees. “….I regret to inform you that we will still be unable to process your … Read more

Advent announces merger of Cohance with Suven

Private equity major, Advent in December 2022 had taken a majority control in Suven Pharmaceuticals (SP). At that time, Advent had disclosed in the filings that it intends to explore the merger of it’s umbrella CDMO entity, Cohance Lifesciences into SP and hence create an integrated, larger and listed franchise with the associated benefits. Now, … Read more

Tata Capital eyes fashion brand Rare Rabbit at $300 million valuation: Report

India’s Tata Capital is looking to purchase a roughly 13% stake in premium domestic fashion brand Rare Rabbit at a valuation of $300 million, as it seeks to bet on the country’s affluent shoppers, three sources familiar with the matter said. Tata Capital is the financial services arm of India’s $144 billion salt-to-aviation Tata conglomerate, … 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

AI Can Outperform LPs at Picking Top Private Equity Funds, Study Finds

AI can pick private equity firms to back better than many investors, per an Oxford study. Researchers trained AI to read 400 prospectuses to predict the top-performing funds. However, lead researcher Ludovic Phalippou believes it should still only be used as a sounding board. Artificial intelligence can pick out top-performing private equity (PE) funds better than … Read more

Sequoia completely exits Go Fashion

Sequoia has sold it’s remaining 10.18% in Go Fashion (GF), marking a complete exit from a decade old investment. It had acquired 33.3% stake in GF in November 2014 for Rs 60 cr Over years, it has pared it’s stake in the following manner Pre IPO in November 2021, Sequoia held 28.73% stake in the … 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

SVB in talks to sell itself, as crisis triggers global banking rout

SVB Financial Group’s efforts to raise money have failed and the troubled bank was in talks to sell itself, CNBC reported on Friday, as a crisis at the tech-heavy lender rippled through global markets and hit banking stocks. Shares of SVB Financial Group were halted on Friday after tumbling 66% in premarket trading. SVB, which … Read more