A consortium led by TPG, along with ICICI Bank and GIC, is reportedly close to acquiring Aseem Infrastructure Finance Ltd (AIFL). Separately in the consumer sector, Nykaa is said to be in talks to acquire a controlling stake in 82°E, the premium skincare label owned by Deepika Padukone.
TPG consortium to buy NIIF Green Infra NBFC
A consortium led by TPG, along with ICICI Bank and GIC, is close to acquiring Aseem Infrastructure Finance Ltd (AIFL), stated a report by The Economic Times.
The deal size is expected to be Rs 4,000 crore, the report added, quoting sources.
The acquisition is aimed at boosting green financing and expanding investment initiatives in India.
Aseem Infrastructure Finance is an NBFC launched in 2020, registered with the Reserve Bank of India.
While the National Investment and Infrastructure Fund (NIIF) holds a majority 59.05% stake in the company, the Indian government owns 30.85%. The remaining 10% is held by Sumitomo Mitsui Banking Corporation.
Nykaa in talks to acquire 82°E
Nykaa, founded by Falguni Nayar, is in talks to acquire a controlling stake in 82°E, the premium skincare label owned by Deepika Padukone, according to an ET report.
If the deal goes through, 82°E is expected to retain a minority stake.
Launched in 2022, 82°E has not grown as expected, the report said, citing factors such as premium pricing, a diffused brand positioning, and competition from digital-first brands.
Its revenue is reported to have declined to Rs 14.7 crore in FY25, marking a 30% drop from the previous year.
For Nykaa, this could mark yet another acquisition, after Nudge Wellness, Dot & Key, and Earth Rhythm.
The company, that competes with the likes of Reliance Retail’s Tira, Sephora and Shoppers’ Stop Beauty, has been actively pursuing the M&A route to expand its operation.
