India Buzz: Shell, Actis, Curatio, Xponentia, Groww, Moglix in news

 India Buzz: Shell, Actis, Curatio, Xponentia, Groww, Moglix in news

Royal Dutch Shell has emerged as the top bidder to acquire Sprng Energy, the renewable energy platform of British private equity firm Actis, a media report said.

Shell is likely to have offered $1.2 billion to acquire the assets that have a debt of $960 million, The Economic Times reported. It is competing with Australian infrastructure fund Macquarie and Canada Pension Plan Investment Board for the deal.

Actis-Welspun

Actis is looking to acquire six road assets from Welspun Enterprises Ltd at an enterprise valuation of Rs 8,000-10,000 crore, as per a report by Mint.

Welspun is looking to close the sale process by March 2022 that has an equity valuation of over Rs 2,000 crore. The assets comprise five hybrid annuity model (HAM) roads and one build-operate-transfer (BOT) project.

Curatio Healthcare

Private equity firm ChrysCapital and Sequoia Capital are looking to exit Chennai-based skin care-focussed Curatio Healthcare that may value it around Rs 2,000-2,300 crore, as per The Economic Times.

ChrysCapital owns 20% while Sequoia owns a 33% stake in the company. Edelweiss and Mape Advisory are looking for buyers. They have approached PE investors Carlyle, KKR, Blackstone, Advent, Apax Partners, TPG and Kedaara Capital as well as strategic buyers Dr Reddy’s, Torrent, and Cadila Healthcare.

Aurobindo Pharma

Aurobindo Pharma is negotiating with at least half a dozen private equity firms to sell 30-35% stake in the injectable business, as per The Economic Times. It is eyeing Rs 4,500-5,250 crore from the stake sale.

TPG Capital, Advent International, Bain Capital, Blackstone, Carlyle and PAG are some of the PE firms in fray, the report said.

Moglix fundraising 

B2B industrial goods marketplace Moglix is looking to raise $150-200 million (Rs 1,110-1,485 crore) in a funding round that may value it around $2.0-2.5 billion, twice compared with the previous round, as per Entrackr.

The report said existing investors Falcon Edge, Tiger Global and Sequoia Capital will participate in the new round.

Groww

Wealth management and investment platform Groww is in early talks to raise nearly $1 billion in a Series F funding round from SoftBank Vision Fund, Temasek, Insight Partners, TCV and Falcon Edge Capital, VCCircle reported. Existing investor Tiger Global is also likely to participate.

Xponentia

Private equity firm Xponentia has invested in Delhi-based Medsource Ozone Biomedicals, a manufacturer of in vitro diagnostics devices, VCCircle reported. It added that it is the fourth transaction in the last one year by Xponentia.

Paperboat

Beverage maker Paperboat is in talks to raise $30 million from an existing investor A91 Partners, VCCircle reported. The money is likely to be used for acquiring other D2C labels in the beverages field, it added.

Ankit Doshi

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