Reghu Balakrishnan
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Articles by Reghu Balakrishnan
DFM Foods sale: EQT, Emami, Balaji Wafers join ITC, TPG in ₹5,500 crore race
2:08 10 hours ago India: Late-night ATM heist turns bizarre as thieves rip out entire machine, drive away with it. StringersHub • 10h Occurred on October 6, 2026 / Deoghar, Jharkhand, India, Info: Unknown thieves uprooted an entire ATM during a late-night heist instead of withdrawing cash. They loaded the machine into a car and fled the spot. The theft was discovered the following morning. Police are examining CCTV footage to identify the suspects and trace the vehicle.
Mid-sized restaurants hungry for funds as investors stay away
Mumbai | New Delhi: Mid-sized organised restaurant chains and quick service restaurants (QSR) are battling a financing hurdle with at least a dozen chains finding it increasingly difficult to attract fresh capital. Executives attributed this to investors turning more cautious on funding businesses that are yet to show sustainable profit metrics and strong store-level economics.
ChrysCap to Buy into Chennai's Linux Labs
Mumbai: Homegrown private equity firm ChrysCapital is set to acquire a 20-25% stake in central nervous system (CNS)- focused domestic formulations company Linux Laboratories for around $60-65 million (₹600 crore), people aware of the development told ET. Tata Capital Healthcare Fund, an existing investor in Chennai-based Linux Laboratories, will exit its entire 15% stake as part of the transaction, while ChrysCapital will acquire an additional 5-10% stake through a primary capital infusion.
Macquarie in advanced talks to buy Fourth Partner Energy
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Macquarie in advanced talks to buy Fourth Partner Energy
Oil & Gas 2 min read Founders Saif Dhorajiwala and Vivek Subramanian will continue to hold their combined 4 per cent stake in the company and remain involved in running the business after the deal, the people said.
Global lenders to back Brookfield's 1.1-GW RE projects with $600 M
The capacity comprises 640 MW of wind and 400 MW of solar power, along with battery energy storage, forming a 1.04 GW hybrid project with an estimated investment of about $1.12 billion.
Avendus ropes in UBS's Gaurav Arora to lead infrastructure vertical
Articles 2 min read Avendus Capital has appointed Gaurav Arora as its new Managing Director and Head of Infrastructure. Arora previously worked at UBS and Deutsche Bank. This move follows the departure of Avendus veteran Prateek Jhawar. Mizuho Financial Group recently acquired a majority stake in Avendus Capital. India's infrastructure sector is seeing significant investment growth.
Big global investors, local cos eye IntelliSmart as smart meter push gains pace in India
Image for representation only. Mumbai: More than half a dozen potential suitors including global investors Brookfield, Macquarie, KKR, and Actis are in early-stage talks to acquire IntelliSmart Infrastructure, said people familiar with the matter, reflecting strong investor interest in India's growing market for smart meters.
Koye Pharma next on Warburg's health play
Koye Pharma, specialising in women's health, respiratory care, and anti-diabetes drugs, has shown strong growth recently. Global private equity firm Warburg Pincus is reportedly in advanced talks to acquire Mumbai-based Koye Pharma for approximately ₹300 crore.
Koye Pharma next on Warburg's health play
For Warburg Pincus, Koye counts as the third company after Integrace Health and Maneesh Pharma for acquisitions as it attempts to string together a platform with a band of small and medium-sized companies for a play in the growing $25 billion markfor medicines in India.
US-based Warburg Pincus in talks to buy Maneesh Pharma unit in Rs 1,800 crore deal
MumbaiUS-based private equity firm Warburg Pincus is in advanced discussions to acquire the formulations business of Mumbai-based Maneesh Pharmaceuticals in a deal valued around ₹1,600-1,800 crore, sources familiar with the matter told ET. Warburg has signed an exclusivity agreement with the company's promoters and is currently engaged in final negotiations to acquire its non-tuberculosis (non-TB) medicines portfolio.
360 ONE to finance AIMS founder's stake buyback
Hospitals 2 min read The asset management firm is expected to lend about ₹600 crore to facilitate the repurchase of shares from British International Investment (BII) and OrbiMed, which hold the stakes in AIMS' parent entity, Blue Sapphire Healthcare. The deal with 360 ONE is likely to be signed within the next few weeks, the people said.
Skyroot eyes up to Rs 1,800 crore raise at unicorn valuation Original
Synopsis Space-tech startup Skyroot Aerospace is seeking $150–200 million (around Rs 1,800 crore) to support its next expansion phase. The funding could value the company at nearly $1 billion. Skyroot, backed by Singapore’s GIC and Temasek, plans to issue primary shares with no dilution for existing investors.
Actis puts on block Indian green energy unit Athena
Global investor Actis plans to sell its Indian renewable energy platform, Athena Renewable Energy. The 550 MW solar platform is expected to fetch an enterprise value of approximately ₹3,000 crore.Mumbai: Actis, a UK-based global investor focused on sustainable infrastructure, is looking to exit Athena Renewable Energy, its renewable energy platform in India, said people familiar with the matter. The firm has appointed Kotak Mahindra Capital as its financial adviser for the proposed deal.
Actis puts on block Indian green energy unit Athena
6 hours ago In his much anticipated speech at the World Economic Forum in Davos on Wednesday, President Donald Trump reiterated his desire to take over Greenland, railed against wind farms, and criticized what he claimed was an imbalance in trade between the United States and the rest of the world. He also …
Macquarie India head Abhishek Poddar quits
Mumbai: Abhishek Poddar, managing director and country head-India at Macquarie Asset Management, has resigned after an eight-year tenure at the firm, people familiar with the development said. Poddar is currently serving his gardening leave and is expected to formally exit the firm by the end of January. This marks the second senior-level departure from Macquarie's India operations in recent months.
CVC Capital Partners leads race to buy ValueLabs at $1-1.2 billion valuation Original
Synopsis CVC has an exclusivity agreement with ValueLabs, founded in 1997 by Arjun Rao Donakanti (87% owner). Promoters may retain 15–20% and management will continue running the firm. Mumbai: European private equity firm CVC Capital Partners is in advanced discussions to acquire a significant majority stake in ValueLabs, a Hyderabad-based technology services and AI solutions firm, according to people familiar with the matter.
Xponentia buys stake in travel services company ASEGO
Mumbai: ASEGO Global Assistance, which provides travel assistance and insurance solutions, has sold a significant minority stake to mid-market private equity firm Xponentia Capital, the company said. People familiar with the matter said Xponentia has invested around ₹175 crore to acquire approximately a 25-30% stake in ASEGO through a mix of primary and secondary stock.
iD Fresh scores big investment as Apax Partners bets on ready-to-cook breakfast staples amid rising premiumisation trend
Synopsis British private equity firm Apax Partners is set to acquire a quarter stake in iD Fresh Food for approximately Rs 1,300 crore, valuing the packaged breakfast staples maker at nearly Rs 4,500 crore. This marks one of Apax's first pure-play consumer investments in India, aligning with the firm's focus on premiumisation trends.
Hillhouse joins Temasek in race for up to 6% stake in Quest Global Original
Synopsis Hillhouse Investment Management is vying with Temasek for a stake in Quest Global. The deal is valued at approximately $4.5 billion. This investment is part of Quest Global's pre-IPO fundraising. A decision on the new investor is expected soon. Quest Global is preparing for a potential IPO and may relocate its headquarters to Bengaluru.
Sweet deal: Vixar takes a 45% slice of Belgian Waffle Co for Rs 770 crore
Synopsis Vixar, formerly Arpwood Partners, has acquired a significant minority stake of approximately 45% in The Belgian Waffle Co. for about ₹770 crore, valuing the dessert chain at ₹1,700 crore. The deal, which saw participation from veteran investor Vallabh Bhansali and HDFC Asset Management, makes the investment consortium the controlling shareholder.
Inox Green to Acquire Macquarie's Renewable Platform Vibrant
Inox Green Energy Services is acquiring Vibrant Energy, the Indian renewable energy platform owned by global infrastructure investor Macquarie Asset Management, said people familiar with the matter. The deal is likely to set an equity valuation of about $200 million (₹1,791 crore) on Vibrant Energy, the people said. Inox Green is part of the Inox Group and India's only listed renewable power operations and maintenance (O&M) services company.
Inox to acquire Macquarie-owned renewable platform Vibrant
MUMBAI: Inox Green Energy, part of Inox Group, will acquire Vibrant Energy, Indian renewable energy platform owned by Infrastructure investor Macquarie Asset Management, said people aware of the development. Vibrant will be valued at $200 million ( equity value) in this transaction. Earlier in January, Macquarie had hired Standard Chartered Bank to run the process. ET reported that Australian investor was looking for a valuation of about $500 million earlier.
EQT Partners lines up $1 billion CitiusTech exit
Mumbai: EQT Partners is looking to raise nearly $1 billion (₹8,996 crore) by selling its entire 40% stake in CitiusTech, a global healthcare technology, analytics and consulting company, monetising its six-year-old investment, said people aware of the matter. The Swedish buyout group is working with advisors to reach out to potential private equity suitors, the people said. The stake sale could value the company at $2.2-$2.4 billion or 18-20x of its FY26 Ebitda of around $120 million, they said.
Macquarie India MD& Co-head Deep Gupta quits
Since joining Macquarie Group in 2008, Gupta has been instrumental in steering several marquee transactions. His notable contributions include leading the acquisition of the National Highways Authority of India’s inaugural Toll-Operate-Transfer (ToT) assets for ₹9,681 crore, driving investments in GMR Airports Holding and Stride Climate Investments and overseeing key divestments such as the sale of stake in ATC India and in multiple road investments.
Lupin, TPG Cap & EQT Take a Shot at Vitabiotics’ Buyout
Indian drugmaker Lupin and a clutch of private equity investors including EQT Partners and TPG Capital are in separate early-stage discussions to acquire UK’s largest nutraceutical company, Vitabiotics, people aware of the development said. The potential deal is expected to value the Lalvani family-owned business at around £1 billion (₹11,800 crore). Lupin is in discussions with a couple of PE firms to form a consortium to bid for the asset, the people said.
Lupin Pharma, TPG Capital & EQT in talks to acquire Lalvani family-owned Vitabiotics
Synopsis Indian drugmaker Lupin and private equity firms are exploring the acquisition of UK's Vitabiotics. The deal is valued at approximately one billion pounds. Several Indian companies had previously considered the acquisition but stepped back due to valuation concerns. Vitabiotics' Indian arm, Meyer Vitabiotics, contributes significantly to its annual sales. The nutraceutical market in India is experiencing rapid growth.
Motilal Oswal Alternates launches maiden private credit fund
Synopsis “India’s private credit market is relatively a matured asset class and growing rapidly. Mid-market corporates with strong operating track records are seeking flexible, non-dilutive growth capital suiting their financial needs,” said Rakshat Kapoor, Head Private Credit, Motilal Oswal Alternates. Motilal Oswal Alternates has forayed into the fast-growing market of private credit, and initiated regulatory processes to launch its private credit arm.
Kauvery Hospitals' promoters look to buy back 5% stake from Lightrock
Synopsis Kauvery Hospitals' leadership is engaged in discussions to repurchase shares from the investor Lightrock, with the valuation of the healthcare chain set at ₹5,000 crore. Anticipating a public offering in the next two years, the group is poised to ramp up its bed capacity significantly. The primary goal for the promoters is to reclaim a stronger stake in their enterprise.
PSP infuses ₹1,760 cr into KKR-backed Lighthouse Learning
Mumbai: Canadian pension fund PSP Investments is investing around ₹1,760 crore ($200 million) in KKR-backed education platform - Lighthouse Learning Group (formerly Eurokids International) - for a minority stake as the US buyout group is transferring its six-year-old investment from its $9 billion Asia Fund III of 2018 vintage to Asian Fund IV of $15 billion. KKR is also making a fresh investment of ₹6,500 crore as part of this fund-to-fund transfer.
WhiteOak, Siguler & Creador to invest over Rs 1,000 cr in La Renon Healthcare
Mumbai: An investor consortium comprising WhiteOak Capital Management, US private equity firm Siguler Guff, and Kuala Lumpur-based Creador has acquired about 10% of pharmaceutical company La Renon Healthcare, said people aware of the development. The deal valued the Ahmedabad-based chronic therapies specialist at ₹11,000 crore ($1.2 billion) and it entails stake dilution by the promoter group and existing shareholders.
Macquarie shortlists three bidders for road assets sale
Synopsis Other contenders that submitted non-binding offers include CPP Investments-owned Interise Trust, IRB Infrastructure and Cube Highways. JP Morgan is advising Macquarie on the transaction. The shortlisted entities are expected to begin due diligence shortly, with binding bids likely to be submitted in the coming months, the people said. The submitted bids are around Rs 9,500 crore, according to the people.
Mid-sized consumer brands like Wingreens, Wow! Momo, Curefoods eye PE funding amid revival in investor interest
Synopsis Amidst a flourishing economy, numerous Indian consumer brands are on the hunt for capital, showcasing a notable uptick in fundraising efforts. As consumer spending sees a resurgence and deal-making heats up, private equity firms and venture funds are actively targeting these promising mid-sized names.
Cloudnine Hospitals leads race to acquire Apollo Cradle
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Upcoming IPOs on D-St may Add up to $1.5TM-Cap Within a Decade: Jefferies
FIRM HAS MAINTAINED STRONG MOMENTUM IN EQUITY MARKETS WITH 16 DEALS SO FAR IN 2025 Mumbai: India's IPO market is likely to sustain its strong trajectory with companies planning public offerings expected to add between $1.3 trillion and $1.5 trillion in market capitalisation in the coming 7�€“10 years, said Jibi Jacob, managing director and head of equity capital markets at Jefferies India.
प्राइवेट सिक्योरिटी इंडस्ट्री की सबसे बड़ी डील करेगी SIS लिमिटेड, बिहार से है कंपनी का कनेक्शन
SIS लिमिटेड प्राइवेट सिक्योरिटी इंडस्ट्री में तहलका मचाने की तैयारी में है। नई दिल्ली: भारत की सबसे बड़ी बिजनेस सर्विस कंपनी SIS लिमिटेड देश की प्राइवेट सिक्योरिटी इंडस्ट्री में सबसे बड़ी डील करने जा रही है। बिहार से ताल्लुक रखने वाली यह कंपनी APS ग्रुप को खरीदने जा रही है। यह सौदा लगभग 600-650 करोड़ रुपये में होगा। जानकारों का कहना है कि यह देश के प्राइवेट सिक्योरिटी इंडस्ट्री में अब तक का सबसे बड़ा अधिग्रहण होगा। APS ग्रुप इस सेक्टर में छठे नंबर की कंपनी है। उम्मीद है कि इस सौदे पर जल्द ही...
Macquarie Secures $405 Million Investment for Vertelo, India's Electric Vehicle Solution Platform, ETAuto
Industry 1 min read Vertelo plans to invest $1.5 billion over 10 years with the aim to achieve a potential greenhouse gas emissions reduction of 9.5 metric tons of carbon dioxide-equivalent (MtCO2e). Macquarie Asset Management, leading infrastructure asset manager, raised $405 million for Vertelo, a fleet electrification solutions platform in India.
Amara Partners nears ₹800 cr debut fundraise
Industry 2 min read The fund, which has roped in industrialist Anand Mahindra as an anchor investor, has seen participation from about 20 industrialists and their families across India. Amara Partners, the private equity fund launched by former Mahindra & Mahindra PE unit head Parag Shah, is set to raise its debut fund at ₹800 crore soon.
Amara Partners nears ₹800 cr debut fundraise
New Details in Air India Crash Probe Shift Focus to Senior Pilot Black-box recording and report details indicate the flight’s captain switched off fuel flow to engines New details in the probe of last month’s Air India crash are shifting the focus to the senior pilot in the cockpit. A black-box recording of dialogue between the flight’s two pilots indicates it was …
ChrysCap Scoops Up Theobroma in ₹2,410-crore Deal
11 hours ago Maca root, a plant used for centuries in traditional medicine, is rising in popularity among the health-conscious crowd thanks to its therapeutic properties. Health claims about maca root are abundant, from enhanced libido to improved energy levels. But what does the research say? Explore the …
Homegrown private equity firm ChrysCapital scoops up bakery chain Theobroma in ₹2,410-crore deal
Mumbai | New Delhi: Homegrown private equity firm ChrysCapital has agreed to acquire pan-India bakery chain Theobroma Foods for ₹2,410 crore, said people with knowledge of the matter.According to an agreement signed between the parties, ChrysCapital will buy around 90% stake from the company's promoters and existing investor ICICI Venture . The promoters will retain about a 10% stake, the people said.ICICI Venture holds a 42% stake in Theobroma.
Shell’s plan to sell Sprng Energy stalls amid lukewarm investor interest
Mumbai | New Delhi: Anglo-Dutch oil firm Shell Plc 's plan to sell its Indian renewable energy platform Sprng Energy has hit a roadblock due to tepid responses, said multiple people aware of the matter.
TPG-led group clinches Rs 7,000 cr Siemens Gamesa deal
1 day ago CNN — Toxic dust on Mars would make a future mission to the red planet extremely hazardous for astronauts and require significant countermeasures, new research suggests. Substances such as silica, gypsum, perchlorates and nanophase iron oxides contained in Martian dust could have life-threatening …
PE Fund Multiples looks to sell HR Co PeopleStrong at Rs 1,500 crore valuation
Renuka Ramnath-led Multiples Alternate Asset Management, a home-grown private equity fund, plans to sell human resources platform PeopleStrong , said people aware of the development. Multiples has hired Bengaluru boutique bank IndigoEdge to run a sale process.The deal is expected to value PeopleStrong at ₹1,300-₹1,500 crore. Multiples has sent feelers to a handful of buyout funds and domestic PE funds, offering its seven-year-old portfolio, the people said.
SeaLink, promoter plan to sell majority stake in Surya Hospital
Agencies Mumbai: Private equity firm SeaLink Capital Partners and the promoter of Surya Children's Medicare are looking to sell a majority stake in western India's largest children's hospital chain, said people aware of the matter. A deal is expected to value the company at ₹1,000-1,200 crore, the people said, adding investment bank JM Financial is running the sale process. Feelers have already been sent to global PE firms and leading hospital chains in India, the people said.
Cipla, Alkem Laboratories in final lap to buy SMT
Stent maker SMT also working on IPO plan in case valuation doesn’t meet expectations MUMBAI: Drugmakers Cipla and Alkem Laboratories have emerged as the frontrunners to acquire a controlling stake in Sahajanand Medical Technologies (SMT), India’s largest cardiac stent maker, said people in the know. This follows the withdrawal of rival private equity contenders KKR, TPG Capital and Apax Partners after showing initial interest.
CDPQ to buy Ashoka's BOT toll road assets for Rs 4,500 crore
AgenciesRepresentative image After a year of negotiations, Canadian pension fund CDPQ is set to acquire five build-operate-transfer (BOT) toll road assets of Ashoka Concessions, a subsidiary of highway builder Ashoka Buildcon, for an enterprise value of ₹4,500 crore, said people aware of the matter. The deal will be signed this week, the people said, adding the assets will be bought by CDPQ through its infrastructure trust-Indian Highway Concession Trust (IHCT).
ChrysCap set to take a bite of nutraceuticals co HealthKart
AgenciesRepresentative image. Mumbai: ChrysCapital is set to acquire about 20% stake in Bright Lifecare that runs omnichannel health products store HealthKart, valuing the business around $450 million (₹3,700 crore). The talks are in final stages and the deal will be signed shortly, said sources aware of the development.
CK Birla Healthcare to raise $150m to expand, cut debt
Agencies Mumbai: CK Birla Healthcare, the wholly owned healthcare arm of $3-billion CK Birla Group, plans to raise about $150 million (₹1,250 crore) by selling a minority stake, said people aware of the matter. The healthcare company has tapped Kotak Mahindra Capital to run the fundraising process, the people said, adding the promoters have begun initial talks with global and domestic funds. The size of the stake sale could not be ascertained.
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