HDFC Ltd will acquire Apollo Hospitals Group's entire 50.8% stake in Apollo Munich Health Insurance Ltd.
IPOs & Markets
IPO will also see three of its private equity and venture capital investors make a part exit from the company.
The Singapore-based investor is said to be in the process of setting up a platform that will buy operating toll and annuity road assets in India.
As part of its strategy, First Solar has developed and sold solar assets in other markets as well.
Bahrain-based Investcorp last year acquired the PE and realty funds units of IDFC Alternatives.
The stake sales are being planned to bring down the promoter shareholding in the company to 75% to meet norms of SEBI.
The fund last year made a first close of around ₹2,000 crore, and has been looking for investment opportunities since then.
Of the 50 firms that have received Sebi nod for their IPOs, at least 17 are backed by around 23 PE investors.
The development could provide some respite to Essel and its lenders.
Piramal and Lone Star are likely to invest $600-700 million in the platform.
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