Reghu Balakrishnan

Temasek in talks to acquire stake in India’s Pine Labs for up to $400m

Temasek is likely to buy the stake from Sequoia Capital and promoters, in a deal that will value Pine Labs at $1 billion.

India: Former Providence PE director Varun Laul to join Zodius

Providence, which manages assets worth $54 billion in PE and credit businesses, exited India last year but retained Laul to manage its existing portfolios including UFO Moviez and Idea Cellular Ltd.

KKR India realty investments co-head Ashish Khandelia resigns, to set up own fund

Under Khandelia’s leadership, KKR has deployed more than a $1 billion in various real estate projects in India.

Advent, Carlyle, General Atlantic in shortlist to buy Pepe’s India arm

The parent company of Pepe Jeans India is looking for a valuation of Rs2,000 crore for the business.

True North in talks to buy 26% stake in Federal Bank’s NBFC

True North, an active investor in NBFCs, bought a majority stake in Mumbai-based Home First Finance Co. India Pvt. Ltd for $100 million last year.

India: Warburg set to exit Avtec, sell 30% stake to promoter C K Birla Group

In the last couple of years, Warburg Pincus has seen several exits (part or complete) from its Indian portfolio.

India: PE firm Kedaara Capital may buy Munjals’ Sunbeam Auto for $100m

If the deal materializes, this would be Kedaara’s second investment in an auto parts maker. Kedaara used to own Bill Forge and sold it to Mahindra CIE Automotive for Rs1,330 crore in a cash and stock deal in 2016.

Multiples CFO and MD Prakash Nene resigns from private equity firm

Nene’s exit comes at a time when Multiples has started its roadshow to raise its third offshore fund with a size of $1 billion.

Blackstone’s new $4b Asia-focused fund gives India top billing

Besides India, the fund will look at investment opportunities in China, Australia, Japan and South Korea.

India: GE Energy-backed Atria Power plans $500m bond sale

Atria plans to develop 1,000MW of power projects with an investment of Rs3,000 crore over the next five years.