The financing of Hindujas’ acquisition of Reliance Capital has hit the coupon hurdle as lenders including Standard Chartered Bank and Barclays are seeking a 15.5% coupon on a Rs 2,000 crore loan each, people...
Financial services
Warburg Pincus brings home Shriram Housing Finance co with Rs 4,630 cr buyout
US private equity firm Warburg Pincus has fully acquired Shriram Housing Finance Ltd (SHFL) from its promoter Shriram Finance and minority shareholder Valiant Capital Management for Rs 4,630 crore in the largest M&A...
Edelweiss, Phoenix among ARCs vying for IOB’s Rs 13,472-crore NPAs
Several asset reconstruction companies have shown interest in acquiring a nearly ₹13,500-crore loan portfolio of Indian Overseas Bank (IOB), three sources familiar with the development said. Among the ARCs expressing...
NCLT defers ICICI Securities delisting case to July
The National Company Law Tribunal (NCLT) has deferred the ICICI Securities case in which non-institutional minority shareholders challenged its delisting and merger with ICICI Bank. The NCLT is now expected to take the...
After Aditya Birla, Piramal to merge with private arm
After the Aditya Birla group, it’s now Piramal’s turn. Piramal Enterprises Ltd has decided to merge with its unlisted subsidiary Piramal Capital and Housing Finance Ltd, becoming the second financial institution to...
Ugro Capital raises Rs 1,322 crore, acquires fintech lender MyShubhLife for Rs 45 crore
Ugro Capital, a non-banking finance company catering to small and medium businesses, has raised fresh capital of Rs 1,322 crore from a mix of new and existing investors and family offices through compulsory convertible...
SVB Financial to sell VC business SVB Capital
Collapsed U.S. lender SVB Financial Group said on Thursday that an entity affiliated with Pinegrove Capital Partners will acquire its venture capital business, SVB Capital. A newly-created entity, backed by permanent...
Reliance Capital lenders ask Hinduja Group arm IIHL to stick to resolution plan deadline, seek ₹9,650 crore
Lenders of debt-ridden Reliance Capital (RCAP) have asked the Hinduja Group arm IndusInd International Holdings Ltd (IIHL) to expedite the process of obtaining necessary regulatory approvals and stick to the resolution...
Shareholders of ICICI Securities lodge lawsuit with NCLT over delisting proposal: Report
A group of shareholders led by an investment manager based in Bengaluru has initiated proceedings with the National Company Law Tribunal concerning ICICI Bank’s proposal to remove its broking subsidiary, ICICI...
NCLT approves Chemhub’s resolution plan for Pancard Clubs
The National Company Law Tribunal (NCLT) has approved Chemhub Tradelink’s resolution plan for Pancard Clubs, which has debt claims of around Rs 8,900 crore, which is leading to 8% recovery for creditors. Ahmedabad...
PE firm GTCR to buy wealth management platform AssetMark for $2.7 bln
Private equity firm GTCR has agreed to pay $2.7 billion to buy AssetMark Financial, in a deal that would take the wealth management platform private more than five years after its initial public offering. The...
NARCL makes binding bid for Essel Infra’s road project debt
The National Asset Reconstruction Company of India (NARCL) has given a binding offer to lenders to acquire ₹988-crore debt of a road project awarded to Subhash Chandra’s Essel Infraprojects in Ludhiana, said...
