Tag: carlyle

Shares of YES Bank jumped 7 percent to Rs 21.10 to hit a 29-month high on the BSE in Monday’s intra-day trade on the back of heavy volumes while surging 19.7 percent over two sessions of trade. YES Bank stock has been rising since Friday when the bank received approval from the RBI to raise fresh capital from Verventa Holdings and Carlyle Group, an affiliate of funds managed by Advent International. The RBI gave approval to each investor with respect to the proposed acquisition by each of them up to 9.99 percent of paid-up share capital of the bank through subscription to equity shares and share warrants of the Bank vide separate letters dated November 30, 2022. This fundamentally strong news is expected to improve the asset quality of the bank, which has attracted attraction of market bulls." Read more

Shares of SBI Life Insurance Company rallied 3 percent and hit a record high of Rs 1,174, on the BSE in intra-day trade on Thursday after US private equity fund CA Emerald Investments, an affiliate of Carlyle Asia Partners, offloaded its entire 1.9 percent stake in the company via multiple block deals. The stock of the life insurer surpassed its previous high of Rs 1,147.95 touched on July 29, 2021. The price range for the share sale has been set at Rs 1,130-Rs 1,136.85, according to the data available. The upper end is SBI Life’s closing price on the BSE on Wednesday. At the lower end, Carlyle will be able to raise Rs 2,147 crore. BofA Securities India is the investment bank handling the share sale. The stock witnessed a surge in volumes and was trading with volumes of 19,157,312 shares, compared to its five-day average of 55,029 shares, an increase of 34,713.37 percent. Read more

Shares of PNB Housing Finance were locked in the upper circuit of 20 percent at Rs 525.20, hitting 52 weeks high on the BSE on Monday, after the company board approved a capital raise of up to Rs 4,000 crore, led by entities affiliated to the Carlyle Group Inc. Pluto Investments S.a.r.l., an affiliated entity of Carlyle Asia Partners IV, L.P. and Carlyle Asia Partners V, L.P. had agreed to invest up to Rs 3,185 crore through a preferential allotment of equity shares and warrants at a price of Rs 390 a share, the company said in an exchange filing. The Carlyle Group Inc has made an open offer for the acquisition of up to 70.79 million shares of PNB Housing Finance, representing 26 percent of the expanded voting share capital, at a price of Rs 403.22 per share from the shareholders of the company."Existing shareholders of the company, funds managed by Ares SSG and General Atlantic, are also participating in the capital raise. PNB will continue to be the promoter Read more

Carlyle Group has emerged as the sole bidder to acquire Blackstone Group-owned Mphasis in what would be the largest buyout in the Indian IT industry, according to some sources. The offer to buy Blackstone’s controlling 56.12% stake is believed to be at Rs 1,450-1,500 a share—lower than Mphasis' closing share price of Rs 1,701.70 on 23rd Feb.2021. The transaction that will lead to a change of control will also trigger an open offer for an additional 26% shareholding of the company. At the higher end of Carlyle’s bid, Blackstone will receive Rs 15,730 crore (more than $2 billion) for its stake in Mphasis—a 12% discount to its current holding valued at Rs 17,838 crore. Depending on the success of the open offer, Carlyle might have to shell out another Rs 7,400 crore based on the 60-day average price of Rs 1,538 a share. Read more

The Carlyle Group today(1st July 2020) announced that it will invest $235 million for approximately 25 percent stake in Nxtra Data Ltd, a wholly-owned subsidiary of Bharti Airtel engaged in the data centre business. The post-money enterprise valuation of Nxtra is approximately $1.2 billion and Carlyle will hold a stake of approximately 25% in the business upon completion of the transaction, with Airtel continuing to hold the remaining stake of approximately 75%, Bharti Airtel said in a statement. The transaction is subject to the necessary regulatory approvals, including approval from the Competition Commission of India.