Author: Deal Street Asia Online News

Large shareholder sells stake worth $145m in India’s Max Financial ServicesThe holding compan has been trimming its ownership in MFSL since last year.

A large shareholder of India’s Max Financial Services Ltd (MFSL) offloaded a nearly 3.2% stake in the company for 12.18 billion rupees ($145.1 million), exchange data showed on Thursday. Max Ventures Investment Holdings sold 11 million shares of the listed company at 1,107.37 rupees per share, a nearly 2.3% discount to MFSL’s closing price on… Continue reading Large shareholder sells stake worth $145m in India’s Max Financial ServicesThe holding compan has been trimming its ownership in MFSL since last year.

CVC reports profit rise in H1 2024 in first earnings after Amsterdam listingCVC reported adjusted after-tax profit of $377m in Jan-June 2024, up 16% Y…

Private equity group CVC reported an increase in half-year profit on Thursday and said it expected margins to expand in the second half of 2024, in its first set of earnings since floating on the Amsterdam stock exchange in April. CVC reported adjusted after-tax profit of 340 million euros ($377 million) for the six months to June,… Continue reading CVC reports profit rise in H1 2024 in first earnings after Amsterdam listingCVC reported adjusted after-tax profit of $377m in Jan-June 2024, up 16% Y…

Blackstone seeks $3.7b loan to fund AirTrunk acquisition: reportBlackstone partnered with CPP Investments to buy the data centre business for A$24b.

A Blackstone-led consortium is taking out an around $A5.5 billion ($3.7 billion) loan package to help fund the A$24 billion AirTrunk buyout, two sources with direct knowledge of the matter said, as the US firm increases its Asian exposure. Blackstone said on Wednesday it had partnered with Canadian Pension Plan Investment Board (CPP Investments) to buy AirTrunk,… Continue reading Blackstone seeks $3.7b loan to fund AirTrunk acquisition: reportBlackstone partnered with CPP Investments to buy the data centre business for A$24b.

India’s Raymond Lifestyle falls after debuting with $2.2b valuationThe nearly 100-year-old Raymond had spun off its lifestyle business this year.

Indian apparel maker Raymond Lifestyle, carved out of Raymond, notched a $2.19 billion valuation in its stock market debut on Thursday, before shares fell by the maximum allowed 5% as investors booked profits. The nearly 100-year-old Raymond had spun off its lifestyle business this year to simplify its group structure, attract more investors and help… Continue reading India’s Raymond Lifestyle falls after debuting with $2.2b valuationThe nearly 100-year-old Raymond had spun off its lifestyle business this year.

China’s Midea Group to launch at least $3b share offering in HKIt will be the city’s largest deal in more than a year.

Chinese home appliance maker Midea Group plans to launch a share offering in Hong Kong to raise at least $3 billion as early as Monday, said two sources, in the city’s largest deal in more than a year. Midea is listed in Shenzhen and the discount offered to investors to buy its Hong Kong shares… Continue reading China’s Midea Group to launch at least $3b share offering in HKIt will be the city’s largest deal in more than a year.

Warburg Pincus closes first Capital Solutions Fund at $4b—double of initial targetThe Capital Solutions Funds are responsible for the firm’s structure…

Warburg Pincus has announced the close of its Capital Solutions Founders Fund (WPCS FF), with commitments of over $4 billion, significantly exceeding its initial target of $2 billion. WPCS FF was launched in 2023 and follows the success of the firm’s global flagship, Warburg Pincus Global Growth 14, which closed at $17.3 billion, also exceeding… Continue reading Warburg Pincus closes first Capital Solutions Fund at $4b—double of initial targetThe Capital Solutions Funds are responsible for the firm’s structure…

India Digest: RecommerceX, Marudhar Rocks raise fundsMarudhar Rocks raised $18m from Bharat Value Fund.

Building Materials Company Marudhar Rocks International has raised Rs 150 crore ($18 million) from Bharat Value Fund (BVF) through a private placement round. Separately, RecommerceX, a chemical recycling and sustainability startup, has raised $3.6 million. Marudhar Rocks raises $18m from Bharat Value Fund Building materials company Marudhar Rocks International has raised Rs 150 crore ($18… Continue reading India Digest: RecommerceX, Marudhar Rocks raise fundsMarudhar Rocks raised $18m from Bharat Value Fund.

Rapido is India’s fourth unicorn of 2024 after raising $200m led by WestBridgeNexus, Think Investments and Invus Opportunities also participated. 

Ride-hailing platform Rapido on Thursday said it has raised about $200 million in a Series E round of funding led by WestBridge Capital, at a valuation of $1.1 billion, effectively catapulting into India’s unicorn club. The round also saw participation from existing investor Nexus along with new investors Think Investments and Invus Opportunities. The announcement… Continue reading Rapido is India’s fourth unicorn of 2024 after raising $200m led by WestBridgeNexus, Think Investments and Invus Opportunities also participated. 

Asia Digest: Nvidia backs Sakana AI; Stephenson Harwood starts legal support for VCsNew Enterprise Associates, Khosla Ventures, and Lux Capital also b…

Tokyo-based AI startup Sakana AI has raised $100 million in a Series A round backed by US chipmaker Nvidia, while Stephenson Harwood has launched a programme to provide legal support to investors and early-stage tech companies. Nvidia backs Tokyo-based Sakana AI’s $100m Series A Tokyo-based Sakana AI has announced raising $100 million in its Series… Continue reading Asia Digest: Nvidia backs Sakana AI; Stephenson Harwood starts legal support for VCsNew Enterprise Associates, Khosla Ventures, and Lux Capital also b…