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Idea Cellular in talks to raise $1 bn; Carlyle-backed Metropolis plans IPO
Photo Credit: Shah Junaid/VCCircle

Aditya Birla Group is in talks with private equity firms to raise $1 billion (Rs 6,500 crore) through a stake sale in the promoter entities of telecom operator Idea Cellular Ltd, a financial daily reported.

Mint said a part of the capital raised will be used to clear the regulatory dues. However, the stake sale will be structured in a way that would maintain the total shareholding of promoter entities in Ideal Cellular at the current levels.

As on 31 March 2018, the promoter group of Idea Cellular held 42.56% in the company, shows stock exchange data.

Metropolis IPO

Pathology chain operator Metropolis Healthcare Ltd is planning to raise around Rs 1,500 crore ($230 million) through an initial share sale, Bloomberg reported.

Ameera Shah, managing director and CEO of Metropolis Healthcare, told the financial news platform that the IPO will likely include a partial stake sale by the Shah family, besides fresh equity.

The proceeds from the stake sale by the founders will be used to repay the loan taken to buy out a private equity investor about three years ago, the report said, adding part of the fund raised through the IPO will also be used for acquisitions.

In 2015, the Shah family had bought back the entire 27% stake held by private equity major Warburg Pincus in Metropolis Healthcare for an undisclosed amount.

Eurofins-Medall deal

Belgium-based life sciences company Eurofins is looking to pick up a controlling stake in pathology chain Medall Healthcare Pvt. Ltd, The Times of India reported.

Private equity firm Peepul Capital owns an 80% stake in Medall Healthcare and will sell its entire stake, the report said.

Since 2009, Peepul Capital has invested $41 million in Medall Healthcare, according to VCCEdge, the data research platform of News Corp VCCircle.

PE firms Blackstone Group and Everstone Capital are in talks with Medall, the report said. Peepul Capital has given the mandate to investment bank Moelis to conduct the sale process.

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