Founders seeking exit value Sequent Scientific at Rs 2,500 croreSequent’s market cap as on Tuesday was Rs 1,670 crore. But the founders are seeking a control premium of 49.7% or 18-20x forward Ebitda multiple, valuing the company at Rs 2,100-2,500 crore, sources said. Some, however, worry that such expectations may turn out to be a potential deal breaker.
Global investors may make a beeline for bad loans"With the Essar Steel judgment out, it has now become easier for distress asset transactions to happen. Now, it needs to be seen how banks open up to sell their sticky assets," says Jayesh Mehta, country treasurer, Bank of America.
MSRDC invites fresh bids for toll operations of Mumbai-Pune E-wayMSRDC had cancelled the Mumbai-Pune Expressway TOT bid process after it received just one bid to collect toll on the arterial motorway for the next 11 years. The agency has invited new bids for a minimum of ₹8,200 crore, with a new deadline of December 16, said two people aware of the development.
IHH plans to sell two assets in South IndiaThe Malaysian healthcare giant has initiated talks to cash out of its 62.2% stake in Hyderabad-based Continental Hospitals and 74% in Global Hospitals, selling them back to the promoter family, multiple people aware of the development, said.
Adani, Reliance group in race for Mumbai-Pune ExpresswayIn what could be India's busiest stretch, sale of the toll operation rights on Mumbai-Pune Expressway could fetch at least Rs 8000 cr. SBI Capital Market has been looking for a new operator as IRB Infrastructure’s 15-year contract expired in August.
Baring Private Equity Asia leads race for CitiusTechThe deal is expected to be sealed at a valuation of $1 billion, after a highly competitive bid process that saw some of the largest buyout PE funds participate, people aware of the ongoing discussions told ET.