Saharsh Agrawal

Japan’s Mizuho Financial Group is in discussions to acquire a portion of KKR’s stake in financial services unicorn InCred Finance at a premium to its most recent valuation of $1.2 Bn. Global investment firm KKR may divest around 10% of its stake in the Mumbai-based tech-driven non-banking finance company (NBFC), though this may change depending on how the talks progress. The negotiations are being held for a premium of up to 30-40% over the $1.2 Bn valuation at which InCred raised $60 Mn in December 2023. This is contrary to typical secondary sales, which usually occur at a lower valuation. 🔗 To read more in detail, click here: https://lnkd.in/g6KqudeB #unicorn #startup #valuation #finance

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Today's Headlines from : *Economic Times* 📝 3,638 FDI proposals cleared in sensitive sectors since 2019 📝 NARCL ups offer for Jaiprakash Associates debt to Rs 12,000 crore 📝 Festivals take e-toll collections to a record ₹6,000 crore in October 📝 Railways switches to fast track for Kavach rollout 📝 India tops global diabetes list with 212 million cases in 2022: Lancet Study 📝 Nokia to roll out 3,300 new 4G sites by March for Vi expansion 📝 Morgan Stanley, 2 others pick 6.8 pc stake in PNB Housing Fin for Rs 1,664 crore 📝 Nalco Q2 Results: Profit rises multi-fold to Rs 1,046 crore; Rs 4 per share dividend announced 📝 NBCC Q2 Results: Profit jumps 53% to Rs 125.13 crore 📝 Kalpataru Projects International bags orders worth Rs 2,273 crore 📝 Ecommerce AI startup BiteSpeed raised USD 3.5 million 📝 SaaS startup Zeplyn raises $3 million from Leo Capital, others 📝 Space startup Firefly valued at over $2 billion in latest funding round *Business Standard* 📝 Brigade Enterprises Q2FY25 results: Reports 46% increase in sales value 📝 Marriott International, Samhi Hotels ink pact to open 3 properties in India 📝 India's Adani Group to invest $10 billion in US energy following Trump win 📝 Dilip Buildcon Q2 results: Net profit rises threefold to Rs 235 crore 📝 ONGC to soon open 5 wells in KG basin to boost gas, crude output in H2FY25 📝 NCLAT directs IL&FS to complete resolution of remaining firms by March 31 📝 ICAI to knock on MCA door against proposed audit standard revision 📝 India's outward FDI rises to $3.7 billion in October 2024: RBI data 📝 Mkt regulator Sebi mulls action for lapses in Artificial intelligence usage 📝 Festive season stabilises PV sales, 2Ws jump 14%; over 393K vehicles sold *Financial Express* 📝 Economists revise FY25 CPI inflation estimates to 4.7-5 per cent 📝 IN-SPACe taps DoT to cut spectrum price for Spacetech startups 📝 Eicher Motors Q2 profit rises 8 per cent to Rs 1,100 crore 📝 Power ministry readies interest subvention scheme for MSMEs 📝 Karnataka to organise venture capital connect with $17 billion investment potential 📝 IPO-bound NTPC Green plans to invest Rs 1 lakh crore by FY27 📝 Indebtedness of states expected to remain rangebound at 31-32% this fiscal, says CRISIL *Mint* 📝 US October inflation rises 2.6% YoY in first annual acceleration since March 📝 UN to come up with solutions to support countries cope with extreme heat 📝 BII, Norfund, IndiGrid form $300 million business for battery storage 📝 AstraZeneca Q2 net profit declines 10%, revenue up 31% 📝 Torrent Power Q2 Results: Net profit falls 8.6% YoY to ₹496 crore 📝 RBI retains SBI, HDFC, ICICI as India's too-big-to-fail banks 📝 Prosus offers to invest $100 million in Mintifi Finserve at unicorn valuation

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🌟 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝗟𝗲𝘀𝘀𝗼𝗻𝘀 𝗳𝗿𝗼𝗺 𝗜𝗣𝗟: 𝗣𝗮𝘁𝗶𝗲𝗻𝗰𝗲 𝗣𝗮𝘆𝘀 𝗢𝗳𝗳 🏏💼 KKR's acquisition of Mitchell Starc for 24.75 crores in IPL sparked debates and skepticism. Despite initial criticism over his performance, Starc silenced doubters with standout performances in the quarter-final and final, earning him the coveted title of Man of the Match. The takeaway? Whether it's people or investments, true value shines through when it matters most. The journey from skepticism to success underscores the importance of patience. So, if you've made a sound investment decision and it's facing temporary setbacks, stay the course, trust your judgment, and tune out the noise. Patience is key to reaping the rewards in the long run. 🚀💰 #InvestingWisdom #PatiencePaysOff #IPL2024

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The tide is already turning in favour of high growth and high quality companies. These stocks have outperformed low quality stocks by 10℅ since June 2024, says Vinay Paharia, CIO, PGIM India Mutual Fund. Read the full interview here: https://bit.ly/3XQj088 #PGIMIndiaMutualFund #Insights #MarketInsights #Stocks #GDP

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Global private equity firms are increasingly appointing top Indian deal makers as heads of their Asia operations amid a surge in significant transactions from India. Firms like KKR , Blackstone, and The Carlyle Group are expanding the roles of their senior executives to oversee the region. For instance, Amit Dixit, who heads Asia for Blackstone Private Equity, has led various investments in South Asia. Similarly, Gaurav Trehan of KKR has been promoted to Co-Head of KKR Asia Pacific and CEO of KKR India. This trend reflects the growing importance of the Indian market, especially as deal-making in China slows and other Southeast Asian markets see fewer significant deals. The shift also highlights the strong performance and high returns achieved by Indian portfolios under these leaders. https://lnkd.in/gX6AyarK

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New Delhi-based NBFC firm Clix Capital has raised Rs 220 crore in fresh equity capital led by existing investors, including Apollo Global Management, Pramod Bhasin, and Anil Chawla. The capital infusion will focus on penetration into new geographies, propelling growth in key sectors of MSMEs, education and medical facilities and investments into advanced AI & ML technologies capabilities. Read the full story here: 👇 https://lnkd.in/ePbatRue #funding #nbfc #investment #lending #loans #msme #indianstartupnews

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As you mention the #InvestmentAdviser regulations were originally planned for financial planning. But if the proposals contained in the consultation paper on prohibiting services such as #estateplanning or #taxplanning or products such as unlisted securities, esops, international securities, gold, real estate are actually enacted then #Financialplanning as we know it will be dead. a better solution than a whitelist would be a blacklist of prohibited items. That's how democracy works - whatever is not prohibited is allowed

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PROFITING OFF BANKRUPTCY: Private Equity Playbook In BYJU'S CASE private equity firms want it to fail, or at least go bankrupt, to get rid of unwanted debts. And here, private equity’s true advantage—its ability to navigate the bankruptcy code. Bankruptcy is an opaque, enormously complex process and one where great lawyering (though not necessarily great business acumen) is rewarded. Private equity firms thrive in this part of the law, and they have certainly been rewarded. History has it. This is akin to ManorCare's fate when Carlyle pushed it to bankruptcy. Everyone made money. Founder. Investors. BYJU'S has no option but to go this path for the founder and board to win. They already made money in this game with the founder sipping juice from an umbrella straw and his PR team putting in all the effort in media to make him look like a saint. And it's the nature of the beast: "Who cares about the vendor and customers?" #startup #byju #privateequity #vc

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🚀𝗔𝘃𝗲𝗻𝗱𝘂𝘀 𝗔𝗻𝗻𝗼𝘂𝗻𝗰𝗲𝘀 $𝟯𝟱𝟬 𝗠𝗶𝗹𝗹𝗶𝗼𝗻 𝗙𝘂𝗻𝗱𝗿𝗮𝗶𝘀𝗲 𝗳𝗼𝗿 𝗶𝘁'𝘀 𝗻𝗲𝘄 𝗳𝘂𝗻𝗱 𝗰𝗮𝗹𝗹𝗲𝗱 𝗙𝘂𝘁𝘂𝗿𝗲 𝗟𝗲𝗮𝗱𝗲𝗿𝘀 𝗙𝘂𝗻𝗱 𝗜𝗜𝗜 𝗔𝘃𝗲𝗻𝗱𝘂𝘀, the top investment bank for venture deals in India, confirmed on Wednesday that it is looking to raise up to $350 million for its new private equity fund, Future Leaders Fund III. This move will enable the Mumbai-headquartered firm backed by U.S. private equity giant KKR, to write larger cheques and maintain a meaningful position in the startups it backs, as stated by Managing Partner Ritesh Chandra in an interview with TechCrunch. 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀: 🚀Avendus has solidified its position as the largest venture adviser for startups in India, providing services in over 30 deals last year, including merger-and-acquisition transactions, as reported by Venture Intelligence. 🚀The firm's prominence grew as global rivals like Goldman Sachs, Morgan Stanley, and JPMorgan initially paid less attention to the Indian market, allowing Avendus to establish strong relationships with tech entrepreneurs. 🚀These relationships have granted Avendus access to high-profile deals. Notably, financial services startups Juspay and Zeta have included only Avendus on their cap tables alongside lead backer SoftBank. 🚀Avendus’ private equity portfolio includes Delhivery, Lenskart, Licious, VerSe Innovation, XpressBees, and the National Stock Exchange. The firm has a reputation for delivering substantial exits, such as achieving four times the investment returns from Lenskart and the National Stock Exchange within four years. 🚀Avendus aims for a fund life cycle of five to six years, addressing the common issue of delayed returns in the Indian startup ecosystem. The firm focuses on strategic exits by selling stakes to late-stage investors like sovereign investors, rather than relying solely on IPOs. “𝘖𝘶𝘳 𝘧𝘶𝘯𝘥’𝘴 𝘭𝘪𝘧𝘦 𝘤𝘺𝘤𝘭𝘦 𝘪𝘴 𝘧𝘪𝘷𝘦 𝘵𝘰 𝘴𝘪𝘹 𝘺𝘦𝘢𝘳𝘴. 𝘈 𝘱𝘳𝘰𝘣𝘭𝘦𝘮 𝘸𝘪𝘵𝘩 𝘵𝘩𝘦 𝘐𝘯𝘥𝘪𝘢𝘯 𝘴𝘵𝘢𝘳𝘵𝘶𝘱 𝘦𝘤𝘰𝘴𝘺𝘴𝘵𝘦𝘮 𝘪𝘴 𝘵𝘩𝘢𝘵 𝘪𝘯𝘷𝘦𝘴𝘵𝘰𝘳𝘴 𝘩𝘢𝘷𝘦 𝘱𝘰𝘶𝘳𝘦𝘥 𝘢 𝘭𝘰𝘵 𝘰𝘧 𝘤𝘢𝘱𝘪𝘵𝘢𝘭 𝘣𝘶𝘵 𝘥𝘰𝘯’𝘵 𝘴𝘦𝘦 𝘳𝘦𝘵𝘶𝘳𝘯𝘴 𝘧𝘰𝘳 𝘢 𝘭𝘰𝘯𝘨 𝘱𝘦𝘳𝘪𝘰𝘥 𝘰𝘧 𝘵𝘪𝘮𝘦. 𝘞𝘦 𝘢𝘳𝘦 𝘧𝘰𝘤𝘶𝘴𝘦𝘥 𝘰𝘯 𝘩𝘰𝘸 𝘥𝘰 𝘸𝘦 𝘨𝘦𝘵 𝘰𝘶𝘳 𝘮𝘰𝘯𝘦𝘺 𝘣𝘢𝘤𝘬,” 𝘴𝘢𝘪𝘥 𝘊𝘩𝘢𝘯𝘥𝘳𝘢. Despite the growing trend of tech startups in India going public, a phenomenon that was uncommon just four years ago, investors cannot solely rely on IPOs for returns,said its managing partner Ritesh Chandra in an interview with TechCrunch. Source : TechCrunch ✨Follow me (Devanathan V) for more engaging insights in the world of finance & news analysis and 𝗱𝗼𝗻'𝘁 𝗳𝗼𝗿𝗴𝗲𝘁 𝘁𝗼 𝗹𝗶𝗸𝗲,𝘀𝗵𝗮𝗿𝗲,𝗿𝗲𝗽𝗼𝘀𝘁, 𝘀𝗮𝘃𝗲 𝗮𝗻𝗱 𝗳𝗼𝗹𝗹𝗼𝘄 𝗶𝗳 𝘆𝗼𝘂 𝗹𝗶𝗸𝗲 𝗶𝘁. #finance #vc #pe #VentureCapital #PrivateEquity #StartupEcosystem #GrowthStage #InvestmentBanking #IndiaStartups #Avendus #FutureLeadersFundIII #TechInvestments

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Trifecta Capital is looking to raise $240 million for a fourth Venture Debt fund #Trifecta Capital, a prominent venture debt firm, has launched its fourth fund, targeting up to Rs 2,000 crore (approximately $240 million), including a greenshoe option of Rs 500 crore. This latest initiative was shared by Rahul Khanna, the firm's founder and managing partner, in an interview with The Economic Times. Established in 2015 by Rahul Khanna and Nilesh Kothari, Trifecta Capital has earned a solid reputation in the venture debt space, backing successful startups like Zepto, Meesho, BlueStone, and Urban Company. The firm has deployed Rs 6,000 crore across its three previous funds, including recycled capital, showcasing its robust investment strategy and track record. Khanna emphasized that the new fund will continue Trifecta's proven formula, while adapting to evolving market opportunities. The firm plans to deploy the funds across various sectors, strategically avoiding high-risk areas such as cryptocurrencies, gaming, and peer-to-peer lending. This cautious approach has contributed to Trifecta's impressive performance, maintaining total write-offs at just 0.6% of its investments. In a challenging venture investment climate, Trifecta Capital's disciplined strategy and rigorous underwriting process have paid off. Despite a downcycle, the firm has minimized losses by limiting exposure to any single sector or sponsor. Khanna noted that venture capital losses have been higher in comparison, highlighting the effectiveness of Trifecta's risk management framework. The firm’s prudent approach included slowing down the pace of deployment during 2022 and 2023, with a 20% reduction in 2023 compared to 2022. However, the pace picked up in 2024, with an anticipated deployment of Rs 1,400-1,500 crore this year, capitalizing on emerging opportunities. Trifecta's strategy of trading off slightly lower internal rates of return (IRR) for capital safety has proven beneficial, especially during the funding winter that saw several venture-backed startups shut down. Trifecta’s focus on maintaining a strong credit profile has helped it navigate these turbulent times with minimal credit hits. The venture debt landscape in India is competitive, with players like Stride Ventures, Alteria Capital, and InnoVen Capital also making significant strides. Alteria Capital recently closed its third fund at Rs 1,550 crore ($195 million), and Stride Ventures announced the final close of its third fund at $165 million, indicating a thriving ecosystem for venture debt in India. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://lnkd.in/d4h8zqKA  - Substack: https://lnkd.in/dzfGJzmW

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𝐊𝐊𝐑 𝐟𝐫𝐨𝐧𝐭𝐫𝐮𝐧𝐧𝐞𝐫 𝐭𝐨 𝐚𝐜𝐪𝐮𝐢𝐫𝐞 𝐦𝐚𝐣𝐨𝐫𝐢𝐭𝐲 𝐬𝐭𝐚𝐤𝐞 𝐢𝐧 𝐇𝐂𝐆 KKR has started exclusive negotiations to acquire a majority stake in HCG, owned by private equity firm CVC Capital, valued at nearly Rs 7,000 crore. CVC owns 60.36% of the company, worth Rs 3,613.97 crore. If KKR can acquire CVC’s stake, it will trigger a mandatory open offer for an additional 26% stake owned by public shareholders. The Indian hospital sector has turned out to be a goldmine for KKR, with the private equity firm making a $2 billion exit from Max Healthcare in 2022, five times the capital it invested in the hospital chain in 2018. While KKR had been selling its Max stake on the market through small block deals, in August 2022, it sold its remaining 27.5 percent holding worth around Rs 9,200 crore in the biggest-ever block deal on the Indian market at that time, highlighting strong investor interest in the country’s hospital sector. #exclusive #negotiations #acquire #stake #privateequity #company #shareholders #hospital #sector #deals #investor

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Listed Companies in India: A Perspective There are around 5,500 listed companies in India with total market cap of ~ USD 5.5 Trillion. If we compare this with US, market cap of NYSE listed companies combined is ~ USD 28 Trillion. Top 10 listed companies in India in terms of market cap account for ~ 21% of this total market cap, i.e., ~ USD 1.16 Trillion which include RIL, TCS, HDFC Bank, ICICI Bank, Bharti Airtel, SBI, Infosys, LIC, Hindustan Unilever and ITC mentioned in order of ranking. Out of these 5,500 listed companies, ~ 1,350 companies have market cap greater than INR 1,000 Cr. Thus, ~ 4,150 companies have market cap of less than INR 1,000 Cr. Number of listed companies with market cap greater than INR 10,000 Cr are ~ 480. Number of listed companies with market cap greater than INR 1 Lakh Crore are ~ 80. (Market cap considered being last 6 months average as on 30 June 24). SEBI, vide its circular dated 6 October 2017 defined large, medium and small cap listed companies as 1-100, 101-250 and 250 onwards respectively in terms of ranking as per market cap. It can also be analysed that there are around 17 lakh active companies as per MCA and thus, only ~ 0.32% of active companies are listed. Source: Analysis is based on information compiled by Association of Mutual Funds in India (AMFI) in consultation with SEBI and Stock exchanges & based on information disclosed on BSE, NSE and MCA websites.   Disclaimer: This article is solely for information purpose and the author is not accountable/liable for any investment decision taken on the basis of this information.

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#Nifty time cycle applied on 15 minutes chart, combine this along with price action or other method for precise entry, We are again at the cycle zone - previous cycle gave 800 points up swing- what is next? check below https://lnkd.in/dKT_wEXe

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A global consortium led by top private equity (PE) firm Blackstone, along with Abu Dhabi Investment Authority (ADIA) and Singapore's GIC, have submitted the bid last week for up to 76% stake in Haldiram's Snacks Food.   India's renowned food, sweet and snacks chain Haldiram's is up for grabs as a global group of investors has reportedly submitted a non-binding bid to acquire a controlling stake worth $8.5 billion in the company that was founded in Bikaner, Rajasthan in 1937.   The Nagpur-based faction registered ₹ 3,622 crore in revenue in FY22. The Delhi-based Haldiram Snacks Private Limited clocked ₹ 5,248 crore in sales in the same fiscal year. There have been other attempts in the past to acquire the food chain, especially by Venture Capitalist firms like Bain Capital, Warburg Pincus and General Atlantic. #Haldiram #blackstone #Venturecapitalist #haldirambuyout

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Blackstone Inc., a global private equity firm, is preparing to make a significant investment in Haldiram’s, a leading Indian fast-food and snack company. This strategic move is expected to secure Blackstone a prominent position in India’s lucrative snack market. Despite earlier disagreements on valuation, the firm is now ready to propose a refined offer. #Blackstone #Haldirams #PrivateEquity #IndianMarket #BusinessAcquisition #InvestmentNews

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India's largest private equity buyout ? Have you heard about the Indian snack giant Haldiram's private buyout ? Yes, you heard it right Blackstone Inc. is in advance talks to acquire a controlling stake in Haldiram's at a valuation of up to ₹70,000 crore. They have been in talks with the Haldiram's Agarwal family for the last few months, but due to valuation concerns there has been too much back and forth between the family members about the deal.   Blackstone Inc. wants to acquire 76% of the business, but there have been disagreements over the stake sale. Some sources said the stake sale to Blackstone still poses a chance of failure in case the promoters choose to take Haldiram public. Yes, the Agarwal family is considering a possible IPO of their business. This decision follows bids from private equity investors, which valued the company between $8 and $8.5 billion, falling short of the family's $12 billion valuation expectation. If the buyout deal come into being then it will be one of the largest private buyout in India. What are your views on this ? #haldiram #india #privateequity #buyout #blackstone

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We are happy to share our first investment in India from SMBC Asia Rising Fund* in Vayana . Vayana is a leading supply-chain finance platform in India, which processes monthly volume of USD 1 Bn+ in financing and provides full-stack technology solutions including compliance stack (GST, e-invoicing, etc), cash flow management, and vendor management products. Supply-chain and its financing part is one of the most important aspects for India’s economic growth and we strongly believe that Vayana will play a pivotal role in it. Also, there are a lot of synergies between Vayana and SMBC group + its clients so we are very excited to see how the collaboration will emerge from here. We are very happy to partner with Ramaswamy Iyer, Vinod Parmar, and all the Vayana team to create the world's best supply-chain solution company from India! Onwards and upwards!  *SMBC Asia Rising Fund is a corporate venture capital fund of SMBC (one of the largest banking groups from Japan) and a joint initiative between SMBC and Incubate Fund.  SMBCさんとご一緒しているAsia Rising Fundからインド第一号案件としてVayanaへ投資しました。Vayanaは毎月USD1bn（約1,500億円）以上の融資をサプライヤーやベンダー向けに実行するインド最大規模のサプライチェーンファイナンス企業です。また、資金提供にとどまらず、インボイス発行や税務申告関連などの各種コンプライアンス機能、キャッシュフロー管理などのオペレーション関連機能などをプロダクト化し、フルスタックで顧客の要望に応えるバンキングテック企業でもあります。インド国内、およびインド⇄海外のクロスボーダーサプライチェーンは今後インドの経済成長に伴い急拡大していくことは想像に難くなく、その流れの中で当社は非常に重要な役割を果たしていくと考えています。SMBCさんやその現地フランチャイズ、そしてそのお客様とのシナジーも明確にあると想定しており、今後の両社のコラボレーションも楽しみです！ Incubate Fund Asia Incubate Fund Rajeev Ranka Masahiko Homma Alok Anand Patra Surbhi Bhatia Dave K. Darren Jawara Jasmin Y. Keiji Matsunaga Mayoran Rajendra Yusuke "Shuku" Shukuzawa Masaki Adachi Masataka Narita KIMIE SUENAGA https://lnkd.in/gDZkJq_C

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Alternative financing firm (AIF) Anicut Capital has marked the final close of its maiden pre-IPO equity fund at Rs 300 Cr. With this investment vehicle, named as Equity Continuum fund, the firm will be backing 5-6 late stage companies on their way to an initial public offering (IPO) in the coming two to three years. This translates to cheque sizes of Rs 50-60 Cr per company. 🚀 Join the startup revolution! Follow StartupTrak for the latest and hottest startup news, inspiring stories, and game-changing innovations! 💯❤️🔥 . . #AnicutCapital #EquityContinuumFund #PreIPO #InvestmentFund #LateStageInvestment #IPOJourney #StartupFunding #EquityInvestment #InvestmentNews #Finance #VentureCapital #FundingSuccess #InvestmentStrategy #FinancialGrowth #StartupNews #StartupTrak

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