India Digest: Suzlon eyes service unit stake sale; PNB to pare holding in home fin unit


Suzlon is reportedly in talks with two financial investors to sell the stake and seeking a valuation of Rs 8,000 crore for the services business.

NBFC crisis was a reality check, says Avendus’ Ritesh Chandra

The industry will see consolidation among NBFCs and HFCs, partly propelled by financial investors in these companies, Chandra said.

India Grid Trust kickstarts roadshows to raise fresh capital of up to $420m

IndiGrid is raising capital to acquire new assets. The final quantum will depend on the demand from investors.

India: Hero Future close to acquiring solar power assets of Waaree Energies

Waaree’s solar plants have been on the block for nearly a year. ReNew Power, India’s largest developer by capacity, has evaluated them for an acquisition, but talks fell through earlier this year.

People Digest: Cerberus appoints India MD; Ola to rejig top deck; Walmart COO resigns

Cerberus Capital is set to enter India and is in the process of opening its office in Mumbai to tap opportunities in the country’s distressed assets space.

Auto finance firm WheelsEMI raises $14m Series B round led by Faering Capital

Faering has invested Rs 64 crore, while the rest was invested by existing investor Elevar.

PE firm True North backs Zydus Wellness’ bid to acquire Heinz India

In October, Zydus had entered into an agreement to acquire Heinz India, jointly with Cadila Healthcare, at a valuation of Rs 4,595 crores ($644 million).

India: Myntra head Ananth Narayanan, other senior execs resign

Myntra chief revenue officer Mithun Sundar and human resources head Manpreet Ratia, who also oversaw operations, supply chain and customer experience, are also said to have resigned.

Bertelsmann India eyes more exits as early investments reach maturity

Having started operations in 2013, Bertelsmann India Investment has invested in a dozen companies so far, with two more in the offing.

Goldman Sachs India CEO sees country’s dealmaking spree continue in 2019

A confluence of factors helped India draw more inbound investments than China for only the second time in a decade. Foreign acquirers struck a record $39 billion of acquisitions in India this year.