After VCCircle reported last year that promoters of Granules India Ltd are looking to sell a majority stake, three global private equity firms KKR, Bain Capital and Blackstone have filed non-binding bids for the Hyderabad-based listed drugmaker, people in the know told Moneycontrol.
The promoters have roped in investment bank Kotak Mahindra Capital to scout for buyers, one of the persons said.
Granules is into active pharmaceutical ingredients and contract research and manufacturing.
Earlier this month, Moneycontrol had reported that the promoters had revived plans for an exit from the firm.
In July, global alternative asset manager KKR said it had agreed to purchase a controlling stake in JB Chemicals & Pharmaceuticals Ltd.
Meanwhile, O2 Power, European alternative asset manager EQT and CDC Group-backed Ayana Renewable Power have emerged as frontrunners to acquire 305 megawatt (MW) solar assets of NYSE-listed Azure Power Global, two people aware of the development told Mint.
O2 Power was jointly floated by EQT and Singapore's Temasek.
The sale could fetch Azure Power at least $200 million (about Rs 1,470 crore). The firm is backed by World Bank’s International Finance Corp (IFC), Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ), and Deutsche Investitions- und Entwicklungsgesellschaft (DEG).
It was previously reported that KKR, Actis, Edelweiss Infrastructure and Ayana Renewable Power are in early talks to acquire about 400 MW solar energy projects in Rajasthan and Assam from Azure Power Global .
Earlier this month, it was also said that EverSource Capital is looking to buy Azure’s entire 167 MW solar rooftop portfolio.