Reghu Balakrishnan

Europe's largest lender HSBC is competing with global private equity buyout groups to acquire Nuvama Wealth and Investment Ltd, said people in the know.

Asia-Pacific-focused private equity firm PAG, current owners of the listed financial services company, has revived attempts to sell the business after a years gap. Non-binding bids also in from 6 funds for 54% worth $1.8 billion. Two more strategics expected to join.

Permira, a leading global private equity firm, is ready to buy a significant stake in Cloudnine Hospitals, which places the parent company's valuation at approximately eleven thousand crore rupees. This acquisition involves purchasing the stake from existing investor True North Capital. The deal awaits appropriate regulatory clearances, and Cloudnine is also exploring acquisitions of further hospital ventures.

Purvah Green Power is set to acquire Welspun New Energy for approximately ₹2,500 crore. This acquisition will provide Purvah access to Welspun's renewable energy development pipeline. Purvah aims to build a 10 GW green power portfolio through various projects. Welspun New Energy is targeting 5 GW of renewable capacity by 2030. The deal marks Welspun's second major renewable energy asset sale in a decade.

Purvah Green Power, the renewable energy arm of RP Sanjiv Goenka Group, is set to acquire Welspun New Energy (WNEL) at an enterprise valuation of around ₹2,500 crore, edging out Macquarie in the final round of negotiations, people aware of the development said.

The deal, if it materialises, would give Purvah access to WNEL's renewable energy development pipeline as it accelerates plans to build a 10 GW green power portfolio through acquisitions and greenfield projects.

Inox Clean Energy and Purvah Green Power are leading contenders for Brookfield's Bikaner renewable energy portfolio. This 550 MW asset, supplying clean power to commercial clients, is valued at approximately ₹2500 crore. Hindustan Unilever and Brookfield Properties are among the portfolio's significant power purchase agreement clients. Brookfield is divesting this asset as part of a broader portfolio reshuffle in India.

Private equity firm ChrysCapital is set to acquire a significant stake in Linux Laboratories. This deal will see existing investor Tata Capital Healthcare Fund exit its entire holding. Linux Laboratories focuses on central nervous system therapies and has a strong brand portfolio. The company anticipates robust revenue and Ebitda growth in the coming years. This acquisition highlights continued private equity interest in India's pharmaceutical sector.

Presently, founders Keerthivasan K, Ananda Kumar Sundharam and Hariharan Parameswaran together hold 84.68% stake.

Tata Sons' potential IPO valuation is estimated between ₹9-12.5 lakh crore., reflecting a discount on its underlying portfolio worth ₹15-16 lakh crore. Investors will price listed stakes and unlisted businesses, applying a holding company discount. The Reserve Bank of India rejected Tata Sons' plea to remain private. This decision effectively mandates the conglomerate's public listing soon.