Goldman Sachs may acquire Yoho; Resurgent Power, Edelweiss eye Jaiprakash Power
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American investment banking major Goldman Sachs is set to buy a 74% stake in Yoho, the student housing arm of Manipal Education and Medical Group India Pvt. Ltd, for Rs 350 crore ($54 million), The Times of India reported.

Yoho, which builds, owns and operates student housing for educational institutions, is expected to use the money to expand its footprint and roll out facilities for third-party campuses, the report added.

At present, it manages over 8,000 beds for students who get enrolled in group educational institutions.

In November 2016, Quess Corp had agreed to acquire the facility management (Spiffy) and catering (Chef on Wheels) businesses of Manipal Integrated Services in a cash and stock deal.

Jaiprakash Power

A consortium of lenders led by ICICI Bank has received bids from five investors who want to pick up a 30% stake in debt-laden Jaiprakash Power Ventures Ltd, Business Standard reported citing people aware of the development.

Resurgent Power and Edelweiss Asset Reconstruction Company are among those interested in acquiring a stake, the report said.

As of 30 September 2017, the consortium held a 50.16% stake in the company. “The aim was to complete the process and see the resolution before the end of the current financial year,” the report quoted a public sector bank executive as saying.

Muthoot Microfin

Muthoot Microfin Ltd, the microfinance arm of non-banking financial company Muthoot Fincorp, is in negotiations with private equity investors to raise Rs 325 crore ($50 million) to expand its presence in northern India, The Economic Times reported.

Muthoot has approached private equity firms Baring Private Equity Asia and Multiples Alternate Asset Management. An unnamed person told the financial daily that the investors were doing due diligence on the company’s books and it hopes to conclude the transaction before 31 December.

“To fuel growth in the current financial year, we are planning to raise money through a private equity deal,” Thomas Muthoot, executive director of Muthoot Microfin, told the business daily.

OMR Mall Developers

Chennai-based OMR Mall Developers Pvt. Ltd has received Rs 244 crore in debt-funding from Kotak India Real Estate Fund, The Business Line reported.

The company will use the proceeds to complete the construction of Marina Mall, which is spread across 540,000 sq ft off the Old Mahabalipuram Road in Chennai. The investor has subscribed to the secured non-convertible debentures issued by the developer, the report added.

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