Page 7 - Latest Updates on Private Equity
Flipkart staff may get Rs 5,700 cr in stock buyback scheme in a few weeks
This will be the biggest Esop buyback in tech industry. Flipkart owns over 80% stake in PhonePe and is looking to exit the company. Walmart owns 10% in the Bengaluru-based fintech firm
 "Flipkart staff may get Rs 5,700 cr in stock buyback scheme in a few weeks")
Irdai approves amendments, simplifies rules to set up insurance firms
Under the current guidelines, to invest in insurance companies as "promoter", a PE fund can do so only through an SPV
 "Irdai approves amendments, simplifies rules to set up insurance firms")
Carlyle Group sells Rs 607 crore shares in logistics firm Delhivery
The six-month post-initial public offering (IPO) lock in on shares of Delhivery ended on November 20
 "Carlyle Group sells Rs 607 crore shares in logistics firm Delhivery")
PE/VC investments drop 75% in October over last year: IVCA-EY report
Inflation woes, recession fears, the rising cost of capital, and elevated levels of uncertainty driven by geopolitical tensions have weighed down the PE/VC activity in 2022
 "PE/VC investments drop 75% in October over last year: IVCA-EY report")
TPG Capital to sell Nykaa shares worth Rs 1,000 cr via block deal on Friday
American private equity firm TPG Capital is likely to sell shares of Nykaa worth Rs 1,000 crore through a block deal
 "TPG Capital to sell Nykaa shares worth Rs 1,000 cr via block deal on Friday")
Blackstone to acquire majority stake in R Systems for Rs 2,904 crore
Blackstone is buying the promoters' stake for Rs 245 per share, a premium of 3.9 per cent on the current price of Rs 235.8 per share. The promoters will get around Rs 1,496.95 crore
 "Blackstone to acquire majority stake in R Systems for Rs 2,904 crore")
Sanjeev Gupta's Liberty Steel nears deal with Credit Suisse, Greensill
Gupta's sprawling group of metals firms, gathered under a loose umbrella called GFG Alliance, were pushed to the brink when Greensill collapsed in March 2021
 "Sanjeev Gupta's Liberty Steel nears deal with Credit Suisse, Greensill")
Multiples Private Equity likely to sell stake in APAC Financial Services
Multiples Alternate Asset had acquired the stake for Rs 250 crore in 2018
 "Multiples Private Equity likely to sell stake in APAC Financial Services")
ADIA, KKR, Brookfield to invest in UPL companies as restructuring move
KKR, the US-based private equity firm, will separately invest Rs 2,460 crore to pick up a 13.33 per cent stake in Advanta Enterprises, a subsidiary of UPL.
 "ADIA, KKR, Brookfield to invest in UPL companies as restructuring move")
Yes, PE ownership of airports works and there is research to show it
It turns out that PE funds, while doing some nasty things like raising charges and sacking people, do manage to improve the efficiency of the airport and the services it offers
PE investments in realty dip 25% in 2022 on inflation, interest rate spike
In terms of average transaction size, the sector saw average deals of $191 million in 9M 2022, up 53% over $125 mn in the same period in 2021
 "PE investments in realty dip 25% in 2022 on inflation, interest rate spike")
PE investments in retail real estate down 63% to $303 mn in Jan-Sep: Report
Private equity investments in retail real estate space fell 63% to $303 million during January-September as investors were concerned about possible impact of high inflation on consumption
 "PE investments in retail real estate down 63% to $303 mn in Jan-Sep: Report")
TARC Ltd to invest Rs 500 cr to develop its luxury hsg project by 2025 end
The new three-acre project, TARC Tripundra, will have 190 apartments. It is the first under the TARC brand name, although the Anant Raj Group has been into real estate the past four decades
 "TARC Ltd to invest Rs 500 cr to develop its luxury hsg project by 2025 end")
PE investments in real estate grew 40% in H1FY23 despite global headwinds
Top 10 deals accounted for 86% of total PE inflows in the first half of this year, as compared to 80% a year ago
 "PE investments in real estate grew 40% in H1FY23 despite global headwinds")
True North and others invest $93 million in US-based Accion Labs
The stake in the USA's Pittsburg-based Accion has been acquired by the True North-advised Indium VI (Mauritius) Holdings from private equity fund TA Associates and other shareholders
 "True North and others invest $93 million in US-based Accion Labs")
Edtech major Byju's Rs 1,500-cr payment to Blackstone by September-end
The most-valued edtech start-up made headlines earlier this month after its FY21 numbers received an unqualified report from the company's auditor, Deloitte Haskins & Sells
 "Edtech major Byju's Rs 1,500-cr payment to Blackstone by September-end")
KKR seeks advisers to sell stake in Avendus Capital, says report
The private equity titan is close to appointing two banks to manage the formal process for the transaction, the people said, asking not to be named as the information is not public
 "KKR seeks advisers to sell stake in Avendus Capital, says report")
PE, Sovereign funds making larger investments in Indian tech firms
PE funds like Advent, TPG, Temasek and GIC have sped up their investments in India with larger cheques of $100 million or more
 "PE, Sovereign funds making larger investments in Indian tech firms")
July witnesses sharp decline in M&A values, PE deals, says report
The start-up and IT sectors continued to dominate deal activity with nine deals each cumulatively valued at $162 million
 "July witnesses sharp decline in M&A values, PE deals, says report")
PE/VC investments plummet 69% to touch $3 billion in July: IVCA-EY report
9 exits were recorded of $322 mn, the lowest number of exits since January 2021
 "PE/VC investments plummet 69% to touch $3 billion in July: IVCA-EY report")
