ET had reported in its April 28 edition that Apax would buy TPG’s stake in SCUF. The sources cited said the deal was struck at a premium to the current traded price.
Biyani has been the script writer of India’s retail story: He was the first to dream big in retail when most thought it was another fad.
The current market cap of Religare Enterprises is Rs 6,539.35 crore. Even at today's price, a 51% stake sale will generate at least Rs 3,250 crore.
How Landmark's Sanjay Thakker created one of the largest networks of profitable auto dealerships nationally
TPG is investing in Landmark when more than half of the organised automotive dealerships in the country are bleeding due to sluggish sales.
Ten-year-old TPG Growth was carved out of its $66 billion behemoth parent to specialise in smaller-sized transactions, typically in the $25-$100 million range.
UK-headquartered Apax, on Monday, had one of their biggest paydays in recent times after IGate got sold to Capgemini for $4 billion.
Sources said as per the share purchase agreement between them, Diageo is supposed to vote along with Mallya over his chairmanship tenure.
Over the years Damani’s prized pickings ranged from storied bellweathers like HDFC Bank, BPCL to consumer facing Gillette, Trent, United Breweries and Nestle.
Billionaire Gautam Thapar sold his entire 34.37 per cent promoter stake in what is considered to be his crown jewel to the new private equity owners.
Sembcorp Industries is looking to invest over a billion dollars over the next 5-7 years to double its clean energy generation portfolio in the country.
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