WARBURG PINCUS
IDFC Bank investors reject resolution of Warburg affiliate
IDFC First Bank's shareholders have rejected a special resolution to appoint a nominee director from Warburg Pincus due to concerns over the absence of a minimum shareholding threshold. Despite this, Warburg Pincus and ADIA are still set to infuse ₹7,500 crore into the bank through a preferential equity issue.
IDFC First Bank shareholders reject resolution to allow board seat to Warburg Pincus arm
IDFC First Bank's shareholders have rejected a proposal that would have allowed Warburg Pincus' arm, Currant Sea Investments BV, to nominate a non-executive director on the bank's board, failing to secure the required 75% majority. While institutional investors largely opposed the resolution, retail investors overwhelmingly supported it.
IDFC First Bank shareholders reject resolution to allow board seat to Warburg Pincus arm
IDFC First Bank's shareholders have rejected a proposal that would have allowed Warburg Pincus' arm, Currant Sea Investments BV, to nominate a non-executive director on the bank's board, failing to secure the required 75% majority. While institutional investors largely opposed the resolution, retail investors overwhelmingly supported it.
Capillary Tech buys assets of customer loyalty services firm Kognitiv
Capillary Technologies, backed by Warburg Pincus, has acquired assets from the bankrupt Canadian firm Kognitiv, expanding its North American presence and gaining access to over 30 enterprise clients. This acquisition marks Capillary's third in North America as it prepares for a public offering later this year.
Beijing’s Pakistan stand deepens India-China divide, clouding Haier and PLI-linked JV deals
Indian firms anticipate stricter regulations for partnerships with Chinese companies due to China's support for Pakistan. This situation casts doubt on pending deals, including Haier's stake sale in its Indian operations. Government officials suggest Chinese entities will only be allowed small stakes in JVs under the PLI scheme for critical components, potentially impacting investment plans.
Fusion Finance's Rs 800-crore rights issue fully subscribed
Microfinance lender Fusion Finance Monday announced that its Rs 800 crore-right issue was fully subscribed with its promoters Honey Rose Investment Ltd, an affiliate of Warburg Pincus, and Creation Investments Fusion LLC taking part in it.
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Fusion Finance raises Rs 800 crore via rights issue
Fusion Finance has raised ₹800 crore through a rights issue backed by Warburg Pincus and Creation Investments, aimed at strengthening its balance sheet and expanding growth opportunities.
Sunil Mittal set to buy $2 billion stake in Haier India
Sunil Mittal is planning to acquire a significant stake in Haier India. He is partnering with Warburg Pincus for this deal. The potential acquisition could be around $2 billion. Haier is considering selling a stake in its Indian unit. Other investors like Temasek and GIC have shown interest previously. Haier's revenue in South Asia has experienced substantial growth.
See value in auto, banking sectors; 2 top trading picks in this market: Aamar Deo Singh
Angel One's Aamar Deo Singh suggests that despite geopolitical tensions, Indian markets show resilience. He highlights IDFC First Bank and Marico as potential trading opportunities, with specific targets and stop losses. Singh notes that auto ancillary, banking, and FMCG sectors are performing well, while caution is advised due to elevated India VIX levels.
Exclusive: Ola brand IP may transfer to Bhavish Aggarwal’s family office amid group restructuring
ANI Technologies operates the group’s ride-hailing business and holds the brand IP, which is currently licensed to Ola Electric, a separately listed electric vehicle (EV) company, in exchange for a fee. The proposed shift in ownership comes amid broader questions over the cross-holding of assets within the Ola ecosystem. The firms–ranging from ANI to Ola Electric and AI startup Krutrim–have overlapping but distinct shareholder bases.
Good Glamm defers April salaries; former employees await final settlements
The Mumbai-based company has been selling or exploring the sale of various portfolio brands as part of its efforts to maintain liquidity and keep operations running during a turbulent period. On April 11, ET reported that Good Glamm is in advanced talks to sell its media and influencer talent management arm, MissMalini Entertainment, to marketing agency Creativefuel.
Manipal, IHH, EQT & others eye Sahyadri Hospitals in Rs 5,000 crore bidding war
Manipal Hospitals, IHH Healthcare, and Blackstone-owned Quality Care India are among the frontrunners vying for Sahyadri Hospitals, Maharashtra's largest hospital chain, with bids ranging from ₹4,500-5,000 crore. Ontario Teachers’ Pension Plan Board is divesting the chain amid a wave of PE-led consolidation in India's rapidly growing healthcare sector, which is witnessing significant investment and expansion.
Professional services firms seek PE money to expand as scale becomes a necessity
Grant Thornton Bharat is in discussions with multiple funds to secure private equity, mirroring a global trend in professional services. Firms are seeking capital for expansion, technology investments, and to offer competitive compensation. This move could revolutionize the sector in India, potentially leading to more mergers and acquisitions as firms strive for scale and global reach.
Warburg Pincus seeks CCI nod to buy 10 pc stake in IDFC First Bank
Warburg Pincus is planning to acquire a 10% stake in IDFC First Bank. The private equity firm has sought approval from the Competition Commission of India. Currant Sea Investments BV, an arm of Warburg Pincus, will make the investment. Abu-Dhabi Investment Authority also plans to subscribe to preference shares in IDFC First Bank.
Advent, Bain, TPG, others drawn to Whirlpool India
Whirlpool Corp is considering selling a 31% stake in its Indian subsidiary, attracting interest from private equity giants like Advent, Bain, and TPG. The sale aims to raise $550-600 million, with Whirlpool Corp retaining a 20% stake and increased autonomy for the Indian unit.
Perfios acquires healthcare information exchange platform IHX
Founded in 2020, IHX connects healthcare providers and payors to facilitate real-time, digital-first claims processing across the healthcare ecosystem. Following the deal, IHX will continue to operate as a wholly owned subsidiary of Perfios, with its team of approximately 100–150 employees working independently.
After Sunil Mittal, Mukesh Ambani's Reliance aims for Haier India stake
Reliance Industries has emerged as a strong contender for a significant stake in Haier India, potentially competing with a consortium led by Sunil Mittal. Haier aims to localize its operations by diluting 25% to 51% equity, seeking a valuation of $2-2.3 billion.
IDFC First Bank Q4 Results: Standalone PAT falls 58% YoY to Rs 304 crore, NII up 9%
IDFC First Bank reported a 58% YoY drop in Q4 net profit to Rs 304 crore, impacted by a decline in its microfinance loan portfolio. Despite this, Net Interest Income rose by 9.8% to Rs 4,907 crore. The bank saw strong growth in customer deposits, increasing 25.2% YoY, with retail deposits up 26.4%.
Goodyear looks to sell India farm tyres biz for Rs 2,500 crore
Goodyear Tire & Rubber plans to sell its Indian farm tire business after selling its off-the-road business to Yokohama for $905 million. The US parent company is working with advisors to explore a sale, valuing the business up to Rs 2700 crore. This strategic review aims to optimize Goodyear's portfolio and cut costs, following pressure from activist shareholder Elliott.
IDFC First to raise Rs 7,500 cr in equity capital
IDFC First Bank is set to raise ₹7,500 crore through CCPS, with Warburg Pincus and ADIA investing ₹4,876 crore and ₹2,624 crore respectively. This move aims to bolster the bank's capital adequacy as it focuses on expanding its infrastructure and new business segments.
IDFC First Bank shares slip over 4% after Rs 7,500 crore fundraise approval
IDFC First Bank shares fell 4.1% after it approved raising Rs 7,500 crore via preferential issue to Warburg Pincus and ADIA affiliates. Despite microfinance headwinds in FY25, the bank highlighted strong long-term growth, improved metrics, and a turnaround in profitability. Analysts maintain a 'Hold' rating with a 4% upside potential, as the stock trades near key technical levels.
IDFC First Bank to raise Rs 7,500 crore from Warburg Pincus and Abu Dhabi Investment Authority
IDFC FIRST Bank is set to receive a significant capital infusion of Rs 7,500 crore from Warburg Pincus and the Abu Dhabi Investment Authority (ADIA). This investment aims to fuel the bank's next growth phase, building upon its transformation from an infrastructure-focused institution to a technology-driven universal bank.
“There are more foreign capital focused on India today”: KKR’s co-CEO Joseph Bae
KKR is capitalizing on geopolitical turmoil and market volatility, mirroring its successful pandemic-era investment strategy. The firm recently announced $8.5 billion in deals, acquiring diverse companies across various sectors. KKR views India, with its political stability and pro-growth policies, as a key market for future investments, focusing on sectors like healthcare, digitization, and financial services.
Delhivery anticipates smooth routing of Ecom Express volumes into its network post acquisition
Delhivery will acquire rival Ecom Express for Rs 1,407 crore in what is among the biggest consolidation moves in the sector. The all-cash deal is a distress sale for the struggling Gurgaon-based company that cancelled its IPO last year amid declining business.
Good Glamm in talks to sell MissMalini for Rs 4 crore amid cash crunch
Good Glamm had acquired MissMalini Entertainment in 2021, bringing in several business units including MissMalini Media, community platform Girl Tribe, talent agency Ignite Edge, creative agency Agent M, and production house MM Studios, in a deal valued at an estimated around Rs 70–80 crore.
Wearables brand Noise raises $20 million from Bose Corp
This is the second round of funding for the company. Earlier in 2023, US-based audio equipment major Bose had invested $10 million in the Gurugram-based company, valuing it at around $420 million.
Delhivery shares slide after Rs 1,407 crore Ecom Express deal. Should you invest?
Delhivery shares fell 8% after announcing a Rs 1,407 crore all-cash acquisition of rival Ecom Express—one of India’s biggest logistics consolidation deals. The steep drop in Ecom’s valuation signals sector-wide strain. While analysts see long-term strategic benefits and market dominance ahead, near-term earnings impact remains limited. Brokerages Emkay and JM Financial maintain a ‘Buy’ with upbeat targets.
Boat’s parent Imagine Marketing files for IPO; eyes valuation of over $1.5 billion
This is the second attempt by the homegrown wearable and audio products brand to go public. In January 2022, it had filed for a Rs 2,000 crore IPO but shelved the plans citing market conditions and raised $60 million in private capital through convertible preferred stock notes from existing investor Warburg Pincus and new investor Malabar Investments. It was raised at a minimum valuation cap of around $1.2 billion.
Delhivery shares in focus as company set to acquire Ecom Express in Rs 1,407 crore deal
Delhivery Ecom Express acquisition: Delhivery is set to acquire rival Ecom Express in an all-cash deal worth Rs 1,407 crore, signaling major consolidation in India’s logistics sector. The deal marks an 80% drop in Ecom Express’s valuation, with key PE investors exiting. Delhivery aims to boost scale and efficiency, while the acquisition awaits regulatory approval and is expected to close within six months.
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