India Buzz: TPG, Baring Asia, Eversource, TCV, L Catterton, Byju’s in news

 India Buzz: TPG, Baring Asia, Eversource, TCV, L Catterton, Byju’s in news

TPG Capital is in advanced talks to acquire a significant minority stake in Dr Agarwal’s Eye Hospital, one of India’s largest chains of eyecare hospitals, a media report said.

TPG is likely to acquire about a 40% stake in Dr Agarwal’s, The Economic Times reported. The deal would include a 32% stake held by existing investor ADV Partners and an additional primary capital infusion, valuing the company around $300 million, it added.

Baring PE Asia

Baring PE Asia has offered to buy Carlyle’s stake in PNB Housing Finance after Carlyle’s attempt to buy a controlling stake in the company got foiled, Moneycontrol reported.

General Atlantic and SSG are also shareholders and own around 10% stake each in PNB Housing Finance. If they agree to divest their stake, Baring Asia could own a controlling stake in the mortgage lender. Carlyle owns around 32% stake that is worth Rs 2,700 crore.

Razorpay

Silicon Valley venture capital firm TCV is in talks to lead a $270 million Series F funding round in Razorpay that may value the fintech unicorn at around $6.5 billion, VCCircle reported. Singapore sovereign wealth fund GIC had led the last funding round in the company earlier this year at less than half that valuation.

Cleantech Solar Energy

Indian solar energy platforms Fourth Partner Energy, O2 Power, Eversource Capital and Singapore’s Keppel Corp are in separate discussions to acquire a majority stake in Cleantech Solar Energy in a deal that could value the company around $400 million, The Economic Times reported.

It added that promoter Raju Shukla, who owns a 51% stake in the holding company, will sell his stake while Shell will retain its 49% stake. Standard Chartered Bank is advising the promoters in the transaction.

Sugar Cosmetics

Sugar Cosmetics is in talks with L Catterton and IIFL’s PE unit to raise a fresh funding round at a valuation of around $500 million, VCCircle reported. The company, which is backed by A91 Partners and Elevation Capital, had raised $21 million earlier this year.

Byju’s

Ed-tech unicorn Byju’s is set to acquire Hello English in a deal worth $25 million, Entrackr reported. Hello English had raised $6.5 million in a Series A round led by Tiger Global in 2015 and had attracted seed funding from Kae Capital.

Pristyn Care-Practo

Pristyn Care is in talks to buy health-tech venture Practo and is looking to raise $100 million at a valuation of around $1.4 billion as part of the overall plan. The firm is in talks with Sequoia, Tiger Global and others, VCCircle reported.

IIFL Home Finance

IIFL Finance, which is backed by Fairfax and CDC Group Plc, is preparing to divest a stake in its affordable housing finance arm IIFL Home Finance, Moneycontrol reported.

Manipal

Manipal Hospitals is in advanced talks to acquire Emami Group-owned AMRI (Advanced Medical Research Institute) Hospitals for Rs 1,100 crore, Business Standard reported. This comes as Kolkata-based Emami revived talks after discussions with suitors like Global Hospitals and Narayana Health three years ago didn’t make any progress.

Vivek Sinha

The Capital Quest