Latest news with #BaijuKalesh
Bloomberg
3 days ago
- Business
- Bloomberg
SoftBank-Backed Lenskart Plans to File $1 Billion IPO This Week
By and Baiju Kalesh Save Indian eyewear retailer Lenskart Solutions Pvt. is planning to file for an initial public offering of about $1 billion as early as this week, according to people familiar with the matter. The company, backed by SoftBank Group Corp., is finalizing the valuation as it prepares to submit its draft red herring prospects with the market regulator, the people said, asking not to be identified as the deliberations are private.
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Business Standard
4 days ago
- Business
- Business Standard
Tata Sons expects reprieve from IPO deadline amid RBI rule review
By P R Sanjai and Baiju Kalesh Tata Sons Pvt., the closely-held holding company of India's salt-to-software conglomerate, is not making any preparations for a near-term share sale as it believes the country's regulators will extend a deadline to take itself public, said people familiar with the matter. Following engagement with officials, the company's leaders expect it will receive official communication from the Reserve Bank of India granting extension for an initial share sale amid a nationwide review of rules governing entities that are not public-facing and do not require public funds, said the people, who asked not to be named discussing information that's sensitive. The RBI had earlier classified Tata Sons as a top tier non-banking lender, forcing it to list by September this year. While a listing would simplify the complicated holding structure of the Tata Group, taking the company public risks making it a target for takeover — something that Tata Sons directors hold the power to veto in its current form. A representative for the Tata Group declined to comment, while the RBI didn't immediately respond to an emailed query. However, any delay in a Tata Sons' initial public offering means the debt-laden Shapoorji Pallonji Group won't get an opportunity to sell any of the illiquid 18.37% it owns in the Tata holding firm. The 160-year-old conglomerate, which has been struggling with financial stress fueled by the Covid-19 pandemic, was looking to liquidate its stake in Tata Sons as a crucial step to pare debt. Tata Sons cleared all debt from its balance sheet to avoid inclusion in RBI's 2023 list of top Non-Banking Financial Companies. While the RBI hasn't yet announced a decision on Tata Sons' status, Governor Sanjay Malhotra last month hinted at a differential regulatory framework for entities like it. 'It is dynamic,' Malhotra had said. 'Policies have to change with the times and so it is only in that context that we are going to review some of these policies related to Type-I NBFCs.'
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Business Standard
16-07-2025
- Business
- Business Standard
Schneider Electric mulls buying Temasek's 35% stake in Indian JV
By Baiju Kalesh, Elffie Chew and Manuel Baigorri Schneider Electric SE is considering buying out the remaining stake in its India venture from minority partner Temasek Holdings Pte, according to people familiar with the matter. Schneider is in talks to buy the 35 per cent stake held by the Singapore state investment company in Schneider Electric India Pvt for about $1 billion, the people said, asking not to be identified because the deliberations are private. A potential transaction could value the whole venture at roughly $5 billion including debt, the people said. Talks are ongoing and no final decisions have been made, the people said. Representatives for Schneider Electric and Temasek declined to comment. Schneider Electric India is 65 per cent owned by the French company with the reminder held by Temasek, according to a statement from 2020, when it completed the merger of its Indian low voltage and industrial automation product unit with Larsen & Toubro Ltd.'s electrical and automation operations. Schneider, one of France's oldest and biggest industrial companies, has evolved from primarily a maker of electrical gear to a provider of software and equipment for buildings, data centers and factories.
Bloomberg
11-07-2025
- Business
- Bloomberg
Citigroup's India ECM Head Sees Record Year Ahead for IPOs
Hi, it's Baiju Kalesh in Mumbai, where I spoke with a top ECM banker at Citigroup about the fast pace of deals in India. Also today, Performance Food attracts a suitor and there's a senior M&A appointment at Goldman Sachs in the Americas. Today's top stories
Bloomberg
25-06-2025
- Business
- Bloomberg
Vodafone Idea Aims for $2.9 Billion in Loans to Bolster Network
By , Baiju Kalesh, and Saikat Das Save Vodafone Idea Ltd. is talking to lenders to borrow about 250 billion rupees ($2.9 billion) in loans to bolster its network and compete better with large rivals, according to people familiar with the matter. The State Bank of India will likely lead a consortium of lenders, said the people who did not want to be named as the matter is private, adding the debt is expected to be a mix of domestic and foreign loans with a tenor of about 10 years.
