Bain Capital looks to team up with Sunil Munjal to buy Max Financial Services
Apax Partners also approached; Hero Corp & Analjit Singh currently in exclusive discussions
Arun Kumar
Jaiprakash Power Ventures to exit insolvency process
The outstanding debt of the Jaiprakash Associates group company has reduced to less than Rs 6,000 crore, from more than Rs 11,000 crore, following the restructuring. The terms involve an interest write back of about Rs 2,000 crore that will help the company report a net profit this fiscal, people in the know said.
PayU buys PaySense for an equity valuation of $185 million
On the complete consummation of the deal over the next 24 months, PayU will have about 80% stake in the merged entity.
Bharti Infratel-Indus merger may not get government nod in time
Vodafone Group's withholding tax case is being dubbed as the stumbling block. All three parties are now looking at revisiting their original plan.
Government appoints Deloitte as advisor for BPCL stake sale
The government approved the strategic disinvestment in BPCL last week, along with transfer of management control, but excluding the stake in Numaligarh Refinery, which will be carved out of BPCL before privatisation. Completion of the stake sale could help the government mobilise more than Rs 60,000 crore, or $8.4 billion, and narrow the fiscal deficit.
TA, Warburg Pincus, ChrysCap shortlisted to buy stake in SRL
In the market, three PE firms in race make offers for acquiring up to 44% in SRL, valuing the diagnostics arm of Fortis at Rs 3,700-4,200 crore, though deal size will depend on quantum of stake finally acquired. Incoming investors will have to fork out at least Rs 1,750 crore but the final deal size will depend on how much stake they eventually acquire
Hero Corp could buy 10-15% stake in Max Financial Services Ltd
Hero Corp may be picking up a stake of 10-15% or more in insurance bigwig Max Financial Services.
Indus Towers-Bharti Infratel merger in limbo
Indus Towers shareholders Vodafone Group & Voda Idea reluctant to extend date unless pricing mechanism is revised. Bharti Infratel and a 42% owner of Indus Towers, is not keen on revisiting the pricing mechanism.
Walmart plans to spin off PhonePe from Flipkart
The proposed demerger will coincide with PhonePe's ongoing fund raising plan of about a billion dollar through primary and secondary sale of shares.
PTC eyes exit from non-core businesses to raise Rs 2,000 crore
PTC India is promoted by stateowned power utilities NTCP, Power Finance Corporation, NHPC and Power Grid Corporation of India.
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