BackDeals Buzz: Blackstone, Warburg Pincus, others in race for Mu Sigma stake
In other news, newbie NBFC InCred ropes in former Deutsche Bank co-chief Anshu Jain as one of the investors; PremjiInvest eyes stake in Lenskart Solutions
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Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
Top PE, pension funds in race for Mu Sigma stake
Private equity heavyweights Blackstone, KKR & Co. and Warburg Pincus, along with Ontario Teachers’ Pension Plan, are among the potential bidders for a large minority stake in big data analytics company Mu Sigma, reported the Times of India. Mu Sigma’s founder Dhiraj Rajaram’s estranged wife and CEO Ambiga Subramanian and current investor General Atlantic Partners (GA) plan to sell their combined 48% stake in the company at a valuation of around $1.5 billion, it added, citing people directly familiar with the matter. The transaction could fetch GA and Subramanian as much as $600 million depending on the final valuation. Read more
Mint was the first to report that Mu Sigma’s CEO Subramanian and US-based private equity investor GA plan to sell their combined 48% stake in the data analytics outsourcing firm. GA has hired Citigroup Inc. and Credit Suisse Group AG to find a buyer at a valuation of $1.5 billion, the Mint report added. Read more
PremjiInvest in talks to buy stake in Lenskart
Wipro chairman Azim Premji’s family office, PremjiInvest, is in advanced talks to pick up a stake in Lenskart Solutions, which owns and operates eyewear-focused venture Lenskart, reported the Economic Times, citing two people familiar with the development. Read here
Deutsche Bank former co-chief Anshu Jain backs newbie NBFC InCred
InCred, the non-banking financial company (NBFC) floated by former Deutsche Bank senior executive Bhupinder Singh, has garnered high-profile backers, including the bank’s former co-chief Anshu Jain. It will start operations soon with a capital base of ₹ 500-600 crore. Read more
Godrej Group to increase focus on inorganic growth route
The Godrej Group is focusing on the inorganic growth route and feels it is a good time to go for more acquisitions, reported IANS, citing chairman Adi Godrej.
“We are putting lot of emphasis on inorganic growth route. We acquired few businesses last year in agro and consumer segments. Our growth through inorganic route will be good over the next few years," said Godrej. Read more
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