Mphasis CEO Ganesh Ayyar is open to co-investing with Blackstone Group while formalizing the acquisition of the IT services company he has spearheaded for over seven years, a media report said.
The Times of India reported that Ayyar said he would explore a personal investment, depending on his discussions with Blackstone, to partner in the $1 billion deal announced earlier this year.
Adani group to enter financial services, eyes Macquarie’s NBFC
The Adani group is looking to buy Australian firm Macquarie’s non-banking finance business in India, The Economic Times reported citing people familiar with the development.
The billionaire Gautam Adani-led group has set up a new company, Adani Fin Services, to enter the financial services business and may also tie up with Gaurav Gupta, the outgoing head of Macquarie Capital India, for the venture, the report said.
Adani Fin Services is looking to begin its operations by giving structured loans to companies before venturing out as a full-service financial player. Adani group is set to invest Rs 100 crore as equity capital in the company, the report said.
ICICI Prudential Life IPO likely by September
ICICI Prudential Life Insurance Co. Ltd is likely to file the draft documents for its initial public offering (IPO) by July and launch the Rs 6,000 crore issue by September, the Mint reportedciting two people aware of the development.
ICICI Prudential insurer is seeking a valuation of over Rs 40,000 crore through the IPO, the report said. In December 2015, ICICI Bank had sold about a 6% stake in ICICI Prudential to Premji Invest and Compassvale Investments that valued the company at Rs 32,500 crore.
This will be the first IPO by a life insurer in India. The company is a joint venture of ICICI Bank Ltd and Prudential Corporation Holdings Ltd.
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