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Articles by Ashwin Mohan
Mathew Cyriac’s Midas touch: Four defence-linked IPOs, all subscribed over 100 times
Mathew Cyriac (Source: Bloomberg/ Florintree Advisors/file image) Mathew Cyriac backed 4 defence IPOs with >100x subscriptions. Tonbo Imaging is his latest defense-linked IPO success. He is known for disciplined investing and reasonable pricing.
MC EXCLUSIVE SCHOTT Poonawalla, backed by Germany’s SCHOTT Pharma and TPG Growth, begins work on $400 million India IPO
SCHOTT Poonawalla joins growing list of MNC-linked firms weighing India IPOs SCHOTT Poonawalla plans a domestic IPO to raise $400 million. The firm invited banks for pitches and plans a share sale. SCHOTT Pharma and TPG Growth are major stakeholders.
MC EXCLUSIVE Persistent Systems may soon launch up to $450 million QIP; proceeds part of financing plan for Nagarro acquisition
JP Morgan, IIFL Capital and HSBC Securities are the investment banks engaged as advisors for the proposed transaction, sources told Moneycontrol. In June, Persistent Systems announced the $1.45 bn buyout of German digital engineering firm Nagarro October 20, 2026 / 13:08 IST first published: Oct 20, 2026 01:08 pm Discover the latest Business News, Sensex, and Nifty updates.
MC EXCLUSIVE Greenko promoter-backed AM Intelligence explores $1-billion-plus equity raise
Greenko promoter-backed AM Intelligence is exploring a $1 billion-plus equity raise, with Morgan Stanley advising, sources told Moneycontrol. AM Intelligence evaluates raising over $1B in equity. The firm is backed by Greenko Group promoters. Morgan Stanley is advising on the equity fund raise. Market Mastery Webinar by Vishal Malkan Find the weak links
Aegis Logistics to acquire majority stake in Dubai's Tristar for $809 mn
The transaction is arguably India Inc's biggest ever buyout of an asset in the Middle East corridor , sources told Moneycontrol. October 14, 2026 / 00:22 IST Aegis Logistics to acquire 89.8% stake in Tristar Holdings. The equity consideration for the acquisition is $809 million. Aegis deal creates global energy logistics platform.
MC EXCLUSIVE Mizuho-Avendus deal gets RBI nod, with a caveat: Submit NBFC consolidation plan
On December 17, 2025, Avendus Capital Private Ltd had announced that US private equity firm KKR’s affiliate Redpoint Investments, would sell its majority stake in the former to Mizuho Securities Co Ltd, a subsidiary of Mizuho Financial Group for more than $520 mn. RBI gives conditional nod for Mizuho to acquire Avendus. Mizuho given 6-month timeline to submit integration plan. Deal values Avendus stake acquisition at over $520 mn. Market Mastery Webinar by Vishal Malkan Find the weak links
MC EXCLUSIVE Veeba Foods kicks off pre-IPO fundraise, targets over Rs 8,000 crore valuation
Verlinvest-backed Veeba Foods kicks off pre-IPO fundraise, targets over Rs 8,000 crore valuation Veeba Foods starts pre-IPO round targeting Rs 8,000 cr valuation. The firm plans a secondary minority sale of under 10 percent. Axis, Jefferies, Motilal Oswal, and 360 One are advisors.
MC EXCLUSIVE Verlinvest-backed Veeba Foods kicks off pre-IPO fundraise, targets over Rs 8,000 crore valuation
Verlinvest-backed Veeba Foods kicks off pre-IPO fundraise, targets over Rs 8,000 crore valuation Veeba Foods starts pre-IPO round targeting Rs 8,000 cr valuation. The firm plans a secondary minority sale of under 10 percent. Axis, Jefferies, Motilal Oswal, and 360 One are advisors.
India stands apart: Oil shock playbook beats its EM peers, says KKR's Henry McVey
McVey adds, "We would also push back on the view that AI is a threat to Indian IT. Our sense from the road is the opposite" October 07, 2026 / 19:05 IST India outperforms EM peers in handling the oil shock. KKR's Henry McVey remains bullish on India's growth. AI is seen as a growth driver for Indian IT, not a threat.
PTC Industries launches QIP to raise up to Rs 1,800 crore
PTC Industries, a leading manufacturer of high quality critical and super-critical components and subsystems for aerospace, defence and industrial applications, has launched a QIP (qualified institutional placement) to raise up to Rs 1,800 crore ($186 mn), people familiar with the matter told Moneycontrol. Moneycontrol has reviewed a copy of the deal term sheet of the QIP.
MC EXCLUSIVE Bajaj Finance kicks off up to Rs 17,500 cr fund raise; picks 3 banks & eyes November launch
The last equity fund raise by Bajaj Finance was in 2023, when it raised Rs 10,000 crore via a combination of QIP and warrants October 05, 2026 / 17:38 IST The fund raise, approved by the firm’s board on October 2, is planned via a combination of a qualified institutional placement (QIP) of up to Rs 11,700 crore and a preferential issue of warrants for up to Rs 5,800 crore. Bajaj Finance plans capital raise up to Rs 17,500 cr. Firm picks Kotak, JP Morgan, and Morgan Stanley as advisors.
MC EXCLUSIVE Ice cream brand Hocco eyes fresh funding at up to Rs 4,000-crore valuation
Some of the other homegrown ice-cream brands, which compete with Hocco, include Amul, Vadilal, Mother Dairy, Natural’s, Hangyo, NIC, Dairy Day, NOTO and Go Zero. Hocco is seeking growth capital from investors. The ice cream brand targets a valuation of up to ‘4,000 crore. KPMG is advising Hocco on the transaction. Market Mastery Webinar by Vishal Malkan Find the weak links
MC EXCLUSIVE SBM Bank India revives plans to induct fintech partner; taps EY for minority stake sale
The firm commenced operations in India in 2018 and is present across retail banking, corporate banking, treasury, NRI services and capital market solutions September 29, 2026 / 12:19 IST SBM Bank India revives plans to induct fintech partner; taps EY for minority stake sale SBM Bank India plans to sell up to 26% stake. The bank seeks a fintech partner for a minority stake sale. EY is advising on the proposed transaction.
MC EXCLUSIVE Mapro Foods eyeing strategic partner: Zydus Wellness, Blackstone, Apax Partners in fray
Founded in 1959 at Panchgani, Maharashtra, Mapro, which stands for Mahabaleshwar Products, is promoted by the Vora family. Mapro Foods seeks strategic partner for growth. Zydus, Blackstone, Apax show initial interest. Mapro Foods evaluating minority or majority stake sale.
Mubadala eyes exit from Cube Highways Trust; launches secondary sale
Seventy Second Investment Company LLC is an affiliate of Mubadala Investment Company. Sovereign investor sells 3.35% stake in the InvIT. HSBC Securities advises on the deal.
MC EXCLUSIVE Inox Clean Energy emerges likely front-runner for Brookfield’s Rajasthan solar power asset
IPO-bound Inox Clean Energy is targeting 10 GW of installed RE IPP capacity and 11 GW of integrated solar manufacturing capacity by FY28 September 24, 2026 / 17:44 IST Inox Clean Energy leads race for Brookfield's 550 MW solar asset. Brookfield recycles portfolio with Rs 2,500 crore deal. Inox Clean Energy on acquisition spree before mega IPO.
MC EXCLUSIVE Ashish Jhaveri, Mahesh Nandurkar elevated as Jefferies India co-country heads
The move follows the exit of Aashish Agarwal, earlier Country Head of Jefferies , since April 2020. September 23, 2026 / 11:16 IST Jefferies India has elevated Ashish Jhaveri and Mahesh Nandurkar as co-country heads following Aashish Agarwal’s exit, sources told Moneycontrol.
CP Plus operator Aditya Infotech launches QIP to raise up to Rs 1,500 crore
Investment banks ICICI Securities and IIFL Capital are acting as advisors on the proposed transaction. September 22, 2026 / 21:41 IST Aditya Infotech launches up to Rs 1,500 crore QIP to repay debt, fund expansion first published: Sep 22, 2026 09:41 pm Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Jefferies' Aashish Agarwal appointed as CEO of 360 ONE WAM
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Jefferies' Ashish Agarwal appointed as CEO of 360 ONE WAM
Agarwal will takeover from February 15, 2027 September 22, 2026 / 17:59 IST Yatin Shah, Co-Founder, 360 ONE, will continue to drive 360 ONE’s decade-long leadership in wealth management. Veteran investment banker Ashish Agarwal, the Managing Director and Country Head of Jefferies since April 2020, has been appointed as the CEO of 360 ONE WAM Limited, according to a disclosure to the bourses by the latter firm. Agarwal will takeover from February 15, 2027.
Medical devices maker Romsons Group announces strategic partnership with Temasek
Temasek acquires minority stake in Romsons Group, opens new chapter for 70-year-old healthcare company (AI generated representative image) Temasek acquires minority stake in Romsons Group. Romsons to expand operations and product portfolio. Romsons Group was founded in 1952.
Advent International launches sale of ‘Crax’ maker snacks firm DFM Foods
Advent International selling DFM Foods. DFM Foods is a packaged snacks firm. Advent seeks over $400M for DFM Foods.
MC EXCLUSIVE Race for Nuvama Wealth: EQT, Brookfield, ChrysCapital, Axight picked for next round
Nuvama sale: EQT, Brookfield, ChrysCapital, Axight. PAG selling majority stake in Nuvama Wealth Management. PAG's 53.98% stake in Nuvama valued at $1.77 billion.
JP Morgan appoints Ravi Reddi as India M&A Head
Reddi, an alumnus of The University of Chicago Booth School of Business and IIT Kanpur, joins the India team after a long stint in JP Morgan’s US M&A team September 20, 2026 / 13:33 IST Leading investment bank JP Morgan has appointed Ravi Reddi as Head of M&A (mergers and acquisitions) for India.
PE firm Advent International to invest Rs 3,150 crore in Yatharth Hospital for 24.9% stake
PE firm Advent International to invest Rs 3,150 crore in Yatharth Hospital for 24.9% stake Advent International to invest Rs 3,150 crore in Yatharth. Advent acquires 24.9% minority stake in Yatharth. Investment to accelerate Yatharth Hospital's growth.
Japanese sports goods giant Yonex acquires stake in Indian distribution partner Sunrise Sports
Founded in 1946, the Yonex global range goes beyond badminton and includes tennis, golf, running and snowboarding products. Yonex to acquire stake in Sunrise Sports India. Yonex will hold 50% voting rights in Sunrise. Deal aims to boost Yonex's India market presence.
MC EXCLUSIVE Yatharth Hospitals in talks with Advent International to raise up to Rs 3,000 crore
The board of directors of Yatharth Hospitals is scheduled to meet later this week to discuss the growth plans of the firm via a capital raise September 15, 2026 / 22:35 IST Yatharth Hospital in talks with Advent for minority stake sale, up to Rs 3,000 crore fund raise (Image courtesy: facebook.com/Yatharthhealthcare) Yatharth Hospital in talks with Advent International. Advent may invest up to Rs 3,000 crore. Funds could be used for inorganic expansion.
Blackstone, Inox Clean Energy may move to round two
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Mega sale of BluPine Energy: Blackstone & Inox Clean Energy may move to round two
On July 7, Moneycontrol first reported Actis had launched the big-bang sale seeking $2bn plus with feelers sent to Inox Clean Energy, KKR, NTPC, NIIF and others September 15, 2026 / 20:30 IST Blackstone and Inox Clean Energy are likely to be shortlisted for round two of the ongoing mega sale process of Actis-owned Indian renewable energy platform BluPine Energy, with more suitors expected to join the private equity major and the domestic strategic player, people familiar with the matter told...
MNC IPO theme to stay in India, but investors will push for more disclosures, say top bankers
Ranvir Davda, Co-Head, Investment Banking, HSBC India (left), and Jibi Jacob, MD & Head, Equity Capital Markets India's equity market activity surged in August FY27. Key sectors driving demand: manufacturing, energy, tech. MNC IPOs grow; investors demand India-centric disclosures.
MC EXCLUSIVE LIC may emerge top investor in anchor book of NSE IPO; ADIA, Carmignac may also bet big
The NSE IPO is set to open for public subscription on September 17 with a price band at Rs 1,700-1,785 per share. The offer will close on September 21 September 12, 2026 / 18:19 IST The anchor book for institutional investors will open for a day on September 16 LIC likely top investor in NSE IPO anchor book. NSE IPO anchor book opens September 16. IPO aims to raise Rs 22,561.5 crore.
MC EXCLUSIVE Eris Lifesciences COO V Krishnakumar steps down, set to join Biological E
V Krishnakumar joined Eris Lifesciences in November 2020 from EY where he was a pharma investment banking partner. September 11, 2026 / 17:28 IST Eris Lifesciences’ V Krishnakumar resigns, set to lead Biological E’s CDMO business (AI generated image) V Krishnakumar leaves Eris Lifesciences. Joins Biological E to lead BE BioSol. Last day at Eris Lifesciences is Sep 30, 2026.
Adani Airport raises around $1bn from Blackrock, Temasek, Alpha Wave Global & Premji Invest
Adani Airport Holdings Limited (AAHL), a subsidiary of Adani Enterprises Limited (AEL) and one of India's largest private airport operators, has sealed a deal to raise ₹9,825 crore (~USD 1 billion) of primary equity capital from a consortium of investors comprising Alpha Wave Global, Premji Invest, Temasek and BlackRock managed funds. Upon completion of all three tranches, the investors will collectively hold approximately 5.54% in AAHL.
MC EXCLUSIVE Aditya Birla Sun Life Insurance exploring $400 mn to $500 mn fund raise
Aditya Birla Sun Life Insurance explores $400-500 million capital raise (AI generated image) ABSLI exploring $400M-$500M capital raise. Fundraise primarily via fresh share issue. Aims to fund growth, potential IPO.
Chivas Regal whisky, Absolut vodka maker Pernod Ricard picks 4 bankers for over $1-bn India IPO
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MC EXCLUSIVE Absolut Vodka maker Pernod Ricard picks 4 bankers for over $1-bn India IPO
Last month, responding to buzz of an IPO for its India business, Alexandre Ricard, CEO, Pernod Ricard SA, confirmed the board “continues to discuss the opportunity.” Pernod Ricard plans India unit IPO. IPO could raise over $1 billion by 2027. Four investment banks advising on the IPO.
NIIF onboards PAG’s Gauravjit Singh as Global Head of Capital Formation
NIIF onboards PAG’s Gauravjit Singh as Global Head of Capital Formation The move comes on the back of NIIF mobilising around $3 billion in new equity capital commitments over the last two years September 07, 2026 / 12:12 IST NIIF onboards PAG’s Gauravjit Singh as Global Head of Capital Formation NIIF names Gauravjit Singh Global Head, Capital Formation. Singh brings 20 years of experience to NIIF. NIIF mobilized $3B in equity capital in 24 months. Did our AI summary help?
MC EXCLUSIVE Adani Airports fund raise seeking $20 bn plus valuation in final leg; Blackrock also in exploratory talks
Adani's New Mumbai Airport Adani Airports fundraise seeks $20bn+ valuation. Blackrock exploring participation in AAHL fundraise. Temasek, Alpha Wave Global also eyeing stakes.
MC EXCLUSIVE Bain Capital-backed RSB Transmission kicks off IPO targeting around $2bn valuation; picks bankers
Bain Capital-backed RSB Transmissions has begun work on its proposed IPO and plans to raise Rs 3,000-4,000 crore through a mix of primary and secondary share sales, with a targeted valuation of around $2 billion. RSB Transmissions plans IPO, aims to raise $311-414M. Bain Capital to partially exit via RSB Transmissions IPO. RSB Transmissions targets $2 billion valuation in IPO.
MC EXCLUSIVE EQT planning fund-to-fund transfer for portfolio firm AIG Hospitals; in talks to tap new investors
EQT is keen to hold on longer to the top Hyderabad-based asset and the move is part of an internal rejig exercise, sources told Moneycontrol September 03, 2026 / 15:01 IST EQT planning fund-to-fund transfer for portfolio firm AIG Hospitals; in talks to tap new investors EQT plans internal fund transfer for AIG Hospitals. Move aims to retain & grow Hyderabad's AIG Hospitals. EQT may dilute 10% stake to external secondary funds.
PepsiCo's George Kovoor appointed as CEO of IPO-bound Parle Biscuits
On July 2, Moneycontrol first reported that the Chauhan family promoted biscuits and confectionary giant is eyeing a mega $1 billion plus IPO next year at a targeted valuation in excess of $10.5 bn September 01, 2026 / 11:14 IST PepsiCo's George Kovoor appointed as CEO of IPO-bound Parle Biscuits Parle Biscuits, maker of the iconic Parle-G, Monaco, Hide & Seek and Melody, has appointed George Kovoor as its Chief Executive Officer, effective September 1, 2026.
Kedaara Capital to invest $200 million in top orthopaedic brand Tynor Orthotics
Investment bank o3 Capital acted as the exclusive financial advisor for the transaction. August 25, 2026 / 11:42 IST Kedaara Capital founder Manish Kejriwal (Courtesy: Reuters photo) Home grown private equity firm Kedaara Capital announced a strategic investment of $ 200 million in Tynor Orthotics Private Limited , a leading doctor-recommended orthopaedic supports, mobility aids and rehabilitation solutions brand, on August 25.
MC EXCLUSIVE Ares Management in talks for minority stake in Shah Rukh Khan, Jay Mehta, Juhi Chawla-owned Kolkata Knight Riders
Ares Management in talks for KKR minority stake. Mehta Group exploring sale of ~20% KKR stake. KKR valued over $1.8 billion in potential deal. Market Mastery Webinar by Vishal Malkan Find the weak links in your portfolio by Vishal Malkan US-based global alternative asset manager Ares Management is in talks to acquire a minority stake in Kolkata Knight Riders ( KKR), three-time winners of the Indian Premier League ( IPL), people familiar with the matter told Moneycontrol.
Temasek, TPG launch Rs 1,750-crore block deal in Dr Agarwals Healthcare with upsize option
The share price of Dr Agarwals Healthcare has risen by nearly 22 percent in the last year August 11, 2026 / 22:21 IST The proposed transaction has an upsize option of Rs 250 crore Singapore investment major Temasek and US private equity firm TPG have launched a block deal of around Rs 1,750 crore to sell part stake respectively in portfolio firm Dr Agarwals Healthcare, people familiar with the matter told Moneycontrol. The proposed transaction has an upsize option of Rs 250 crore, they added.
MC EXCLUSIVE Stake sale brewing in Orbicular Pharmaceutical Technologies targeting $1bn plus valuation
A person in the know said that the deliberations are ongoing and details of the deal -including size and structure – may change later, if required. (Representative image) Stake sale planned for Orbicular Pharma. Targeting $1 billion+ valuation. Generic Ozempic received tentative FDA approval.
MC EXCLUSIVE Capri Global Capital exploring up to $450 to $550 million fund raise to spur growth
MC EXCLUSIVE Capri Global Capital exploring up to $450 to $550 million fund raise to spur growth The firm is eyeing the capital raise via a combination of primary and secondary issue of shares and has engaged advisors, sources told Moneycontrol August 10, 2026 / 18:41 IST According to the latest stock exchange date, the promoters of Capri Global hold around 59.92 per cent stake. Capri Global plans to raise $450-$550M. Fundraise via primary & secondary share issue.
MC EXCLUSIVE UBS set to onboard Ashutosh Prajapati of Jefferies as Head, Equity Capital Markets
UBS Securities was part of the syndicate of bankers for India’s biggest healthcare IPO by Manipal Health Enterprises August 06, 2026 / 18:59 IST According to his Linkedin profile, Prajapati has more than two decades of advisory experience. first published: Aug 6, 2026 06:58 pm Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
MC EXCLUSIVE Kotak's internet economy deals spearhead Rajat Ranjan set to move on
Some of Ranjan and his team's past clients include Zomato, Delhivery, Nykaa, PB Fintech, PharmEasy and CarTrade, according to the firm’s website. August 06, 2026 / 18:51 IST Veteran dealmaker Rajat Ranjan, Managing Director and head of Digital and Robotics team (DART) sector coverage at Kotak Investment Banking, is preparing to move on from the leading domestic investment bank, people familiar with the matter told Moneycontrol.
MC EXCLUSIVE Blackstone, ChrysCapital, others in fray for majority stake in precision manufacturing firm Rabwin Industries
MC EXCLUSIVE Blackstone, ChrysCapital, others in fray for majority stake in precision manufacturing firm Rabwin Industries The promoters of Rabwin Industries are in value-unlocking mode and are looking to cede control as of now, expecting a valuation between $240 million to $250 million, sources told Moneycontrol July 31, 2026 / 20:03 IST Blackstone, ChrysCapital and Platinum Equity have been picked for the next round and now diligence will start on the proposed transaction, a source told...
MC EXCLUSIVE Warburg Pincus, ChrysCapital emerge as front-runners in race for Universal NutriScience
MC EXCLUSIVE Warburg Pincus, ChrysCapital emerge as front-runners in race for Universal NutriScience In June 2021, Kedaara Capital and Universal Medicare jointly formed Universal Nutriscience to buy the nutraceutical business of Sanofi India July 31, 2026 / 20:19 IST Warburg Pincus & ChrysCapital lead UNS acquisition. Kedaara Capital-backed Universal NutriScience for sale. UNS is a pure play nutraceuticals firm. Did our AI summary help? Liked this AI Summary?
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