India Digest: Paytm Postpaid to move loan book to Clix; Brookfield eyes Suzlon stake

Canada-based firm is looking to add to the $2 billion asset base it has built in the country over the last five years. Image sourced from Brookfield Investment Management website

The M&A activity in India is hotting up with action. While Vijay Shekhar Sharma-promoted Paytm unit Paytm Postpaid is reportedly transferring its loan book to Clix Capital, Canadian investor Brookfield is looking to acquire a majority stake in Tulsi Tanti-promoted Suzlon Energy.

Paytm Postpaid looks to transfer loan book to Clix

Vijay Shekhar Sharma-promoted Paytm unit Paytm Postpaid is transferring its loan book to Clix Capital, an NBFC headquartered in Gurgaon, per an ET report.

This development looks like a fallout of regulatory scrutiny, the report further stated quoting sources. Paytm Payments Bank is currently under scrutiny since a public interest litigation has been recently filed against the company at the Delhi High Court for allegedly flouting regulatory norms.

Paytm Postpaid, that deals with online credit business, initially kicked off as a partnership with ICICI Bank. However, the collaboration failed after which Paytm took the credit exposure on its own books.

Suzlon plans to sell majority stake to Brookfield

Canadian investor Brookfield is looking to acquire a majority stake in Tulsi Tanti-promoted Suzlon Energy, that will help the latter settle its loans, said an ET report quoting sources.

The due diligence process is reportedly on and the transaction is expected to be completed over the next 3-6 months.

According to the ET report, Suzlon has net term debt amounting to Rs 7,761crore, while its working capital debt stands at Rs 3,380 crore.

It is understood that while a host of entities have evinced interest in buying a stake in Suzlon, the company decided to go ahead with Brookfield.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.