IIFL said its board has approved raising fresh capital from HDFC Standard Life Insurance Co. Ltd, General Atlantic Singapore Fund Pte Ltd (GA) and Steadview Capital Mauritius Ltd, among others, for a 5.1% stake dilution.
CDC’s entry provides an exit to some of the existing limited partners (LPs) of IDFC Alternatives.
The acquisition of Binani Cement will, however, be subject to the Supreme Court’s ruling, with a Dalmia Bharat Ltd-led consortium challenging the 15 May order of the National Company Law Appellate Tribunal that allowed lenders to consider UltraTech’s revised offer. The offer was submitted after lenders selected Dalmia as the top bidder.
Wilmar Sugar, a subsidiary of Singapore-based Wilmar International, owns a 39% stake in Shree Renuka.
APAC Financial Services is a non-banking financial company founded by Deutsche Bank’s former Asia Pacific chief Gunit Chadha.
The private equity firm has hired Citigroup to handle the exit mandate.
Kedaara-Partners Group will buy the retailer from TPG Capital and Shriram Group.
ArcelorMittal had submitted a higher bid than Numetal for Essar in the first round.
Max Financial Services, led by billionaire Analjit Singh, is raising money to finance a potential acquisition by its life insurance unit Max Life Insurance Co. Ltd.
Relam Investment is an equal joint venture, or JV, of Dubai’s Vault Investments LLC and Vietnam’s MIG Holding.