ETS STRATEGIC CAPITAL
PE, VC funding slows in first half of 2024; secondary deals become prominent
Secondary stake sales and buyouts are driving most of the larger deals being made by private equity (PE) and venture capital (VC) funds in new-age firms, data from investment banking firm DC Advisory showed. In the first six months of 2024, when 37 deals took place in the $50-500 million range, 62% were secondary transactions or buyouts, with external primary investment rounds making up only 13%.
Rise & rise of secondary deals; advantage desi data centres
Happy Friday! Total funding raised by Indian startups fell in the first half of 2024, but late-stage activity showed signs of revival, as per data. Decoding this and more in today’s ETtech Morning Dispatch.
Modi-Putin phone calls shaped Indian PM’s decision to visit Moscow for annual summit
Narendra Modi's upcoming visit to Moscow for the annual summit stems from two phone calls between him and President Vladimir Putin. They first spoke after Putin's election victory in March and again following Modi's re-election in June. The visit aims to boost the strategic partnership amid global scrutiny and discussions on the Ukraine conflict. India's strategic autonomy and historical ties with Russia play a crucial role, emphasizing cooperation in defense, energy, and geopolitical support, including Soviet backing during the 1971 war and the Kashmir issue.
In 10 years, India no longer a charity case, it's the driving force of world economy: Sanjeev Sanyal
There are no such things as poor people. They are poor places. Say two brothers grew up in Moradabad. One of them stays back in Moradabad and another went off to Dubai. After five years, one person will be earning a lot more than the other. Why does this happen? It is because places matter, says Sanjeev Sanyal
More than 50% value and contra mutual funds outperform benchmarks. Should you invest?
Around 69% and 100% of value and contra mutual funds respectively outperformed benchmarks in the last three years, driven by market recovery and strategic stock selection, as per ETMutualFunds and experts like Abhishek Jain from Arihant Capital.
Kinara Capital's resilient model gives it 51% profit rise despite distress in fintech sector
The fintech company has been profitable even when the customer segment was disproportionately impacted, says Hardika Shah, Founder & CEO of Kinara Capital. She says this has happened on the back of a balanced business model and strategic planning.
- Go To Page 1
ET Circle: The private equity playbook with Manish Kejriwal—trust, mentorship, and intellectual honesty as pivotal pillars
In this episode of ET Circle, Manish Kejriwal, Founder of Kedaara Capital, delves into the foundational pillars of trust, mentorship, and integrity within private equity. Kejriwal emphasises trust as essential for enduring relationships and performance. Aspiring fund managers should prioritise credibility and performance while nurturing mentorship and ethical conduct, Kejriwal advocates. From distinguishing venture capital and private equity strategies to fostering cultural integrity within Kedaara, Kejriwal's insights span a wide spectrum He envisions a future where private equity drives innovation and sustainable growth, emphasising responsible investing practices amidst evolving market dynamics.
Wait for DEE Development's financial show post listing for stock exposure
The company had outstanding orders of ₹828 crore as of December 2023, up 47% from FY23, driven by a strategic shift towards the oil and gas sector and pricing advantages over rivals. This resulted in a bid-to-win ratio of 46-81% over the last four years.
Becoming a future CHRO: Navigating the path to HR leadership excellence
The Chief Human Resources Officer (CHRO) plays a crucial role in managing human capital and leading HR functions in organisations.
Funds make a beeline for beauty platforms; Purplle raises $100 million
ADIA leads a $100-million financing round in Mumbai-based beauty retailer Purplle at a valuation of $1.2-1.3 billion. Creaegis, a PE fund, is expected to join the funding round. MCaffeine, a caffeine-based skincare and haircare brand, is also in the middle of a fundraise process and exploring strategic investors. The funding would be in MCaffeine’s parent firm PepTechnologies, which houses skincare brand Hyphen, along with recent fundraise by Foxtale and Traya.
Mankind Pharma in race with PEs to buy BSV Group at possible valuation of Rs 13,000 crore
Warburg Pincus, ChrysCapital, TPG, Blackstone, EQT, Mankind Pharma, and Dr Reddy's Laboratories are competing to acquire BSV Group, a biopharma firm specializing in women's health and critical care products, indicating a trend of consolidation in the domestic pharma sector. Mankind, Dr. Reddy’s, and Blackstone have evaluated BSV at different times, including before Advent's acquisition.
Mankind Pharma scouts for M&A deals to boost local branded biz
Mankind Pharma, the fourth-largest pharmaceutical company in India, led by Rajeev Juneja, is seeking mergers, acquisitions, and in-licensing deals to enhance its branded formulation business.
Confused about which stocks to buy after election results? Why not buy the entire Nifty
Analysts recommend investing in Nifty 50 ETFs in SIP mode for long-term benefits, citing a low expense ratio and outperformance of traditional mutual funds. Despite the short-term volatility, the long-term outlook for Nifty 50 ETFs remains positive.
Online travel aggregator Ixigo sets Rs 88-93 price band for IPO to raise Rs 740 crore
The company filed its draft red herring prospectus (DRHP) with the markets regulator in February and received approval in May. Ixigo IPO is scheduled to launch on June 10 and close on June 12. The company aims to raise a total of Rs 740 crore through the public issue.
Will an empowered Modi bring back a big-bang reform?
If exit polls are accurate and Prime Minister Narendra Modi returns to power with a strong majority, major economic reforms are expected. This might include revisiting land acquisition laws to facilitate industrial growth. Land reforms are crucial for India's manufacturing ambitions. Digitisation of land records could streamline processes and accelerate development projects.
InCred Capital appoints Julius Baer India’s Vikram Agarwal as chief operating officer
InCred Capital appointed Vikram Agarwal as its COO, who brings extensive experience from Julius Baer India to lead various functions at the Mumbai-based company.
ChrysCapital sets sights on pharma buyout deals
ChrysCapital, led by MD Kshitij Sheth, aims to acquire Indian companies in the formulation business with potential valuations of $200 million-$500 million, focusing on growth and eventual public listings.
Betting on disruptors in India’s BFSI sector: Insights from Beams Fintech Fund, Sagar Agarvwal
The Fintech and Financial Services sector has grown exponentially in the last few years, and yet much more is to be achieved. In India, the sector contributes nearly one-third of the GDP and $1.3 trn in market cap. Additionally, disruptive products by fintech companies, aided by innovation-friendly policies have made India one of the fastest-growing financial services market in the world. As a result, there are ample opportunities for investments in this space.
The super app bandwagon; Tata Digital revamped
Happy Tuesday! Traditional financial services firms are the latest to launch so-called super apps. This and more in today’s ETtech Morning Dispatch.
Capital markets and dispute resolution will keep law firms busy in coming years: Harry Chawla, Luthra and Luthra Law Offices
Technology integration drives legal sector growth, with rising demand for regulations, advisory services, and increased M&A activity. Focus on AI, blockchain, data privacy, cybersecurity, and geographical expansion to enhance client service and efficiency.
KKR acquires Healthium from Apax Partners for Rs 7,000 cr
KKR acquired Healthium Medtech Ltd., a leading Indian medical devices company, from Apax Partners. The deal, valued at approximately Rs 7000 crore, involves a special purpose vehicle owned by KKR-managed funds gaining control of Healthium. Healthium, the fourth-largest surgical suture manufacturer globally, maintains a strong presence in India and abroad, with KKR aiming to leverage its expertise to further expand its reach
Metal stock deserve rerating; Rs 500 plus target possible in Vedanta over 1-2 years: Sudip Bandyopadhyay
Sudip Bandyopadhyay discusses the underinvestment in metals, the increasing demand due to infrastructure projects, the impact of China and global factors, and the potential for Vedanta stocks with a target price of Rs 500+. In the short-term, he is looking forward to a 10% upside from here on as well.
Markets & Mandate: Where to invest in E-M-I basket going forward
Nilesh Shah predicts ABB, Siemens, L&T's continued dominance in EMI. Key players like Hitachi Energy, KSB, and TD Power drive sector growth. India aims for a $10 trillion economy, focusing on diverse sectors.
Iran-Israel war: Do not panic sell and do not catch falling knife: Anurag Singh
Anurag Singh advises against panic selling in Indian markets, recommending holding cash due to uncertain valuations. He says Indian and all other emerging markets face a little bit of danger because whenever oil spikes, dollar flight happens. But, he says, market recovery is anticipated sooner with strong back channel talks despite geopolitical risks.
How UGRO Capital emerged as India's largest co-lending NBFC partner for banks: Shachindra Nath
Shachindra Nath of UGRO Capital highlights the company's growth as India's leading MSME financing firm, emphasizing the recent Crisil upgrade to 'A'. The discussion covers the impact of ratings, diversified borrowing strategies, and collaborative social impact research initiatives. Nath says "fundamentally UGRO is now becoming India's largest, most dedicated data tech driven MSME financing company."
Bulk of correction in small, midcaps over; days of IT largecaps are numbered: Nilesh Shah, Envision Capital
Nilesh Shah anticipates largecap IT decline, supports specialised technology services growth. He believes online consumer or the online fintech space are the businesses which are making rapid strides. While acknowledging market froth, advises against tactical allocations. shifting funds from small and midcaps to largecaps Further, Shah emphasizes bottom-up opportunities, energy sector potential, and regulatory risks in the insurance sector.
Lower free float=higher returns & more companies doubling share price in last 9 months: Jigar Mistry
Jigar Mistry of Buoyant Capital highlights how flows outweigh fundamentals in the market. Caution needed due to smallcap rally driven by new money from retail and mutual funds. PSU side is questionable. We need to take a step back, look at the businesses which are underlying and not just go for PSU as a theme Consumption sector underperforming. Uncertain market outlook with possible correction.
Microblogging site Koo in talks for acquisition by VerSe Innovation
Koo’s cofounder Mayank Bidawakta stated in a LinkedIn post that the microblogging platform was in discussions with “multiple partners” for a “strategic partnership”, without giving details about who the firm was engaged in talks with.
Quality of the Budget should be fabulous as Modiji will not go for a very populist one: Madhu Kela
Madhusudan Kela, a market veteran, discusses the importance of being prepared for market corrections and delinking research from execution. He believes in the long-term potential of the Indian economy and the consensus agreement on the Indian stock market. The budget's significance has diminished over the years, but Kela expects a fabulous quality budget with a focus on fiscal consolidation. He predicts a realistic fiscal deficit of 5.2-5.4% and emphasizes the potential of strategic disinvestment in PSU companies. Kela also highlights the opportunities in infrastructure and PSU banks due to their undervaluation and deposit advantage.
Load More
