HILLHOUSE CAPITAL GROUP
Hill-house backed Elevate Campuses raises Rs 945-crore anchor book
Hillhouse-backed Elevate Campuses raised Rs 945 crore from 20 anchor investors, including major mutual funds and Norges. The amount represents 60% of its QIB allocation ahead of its Rs 2,100 crore IPO, which opens Wednesday and closes Friday.
Quest Global said to pick banks for $1 billion India IPO
Carlyle-backed Quest Global has appointed five banks for a potential Mumbai IPO targeting up to $1 billion. Axis Capital, Kotak Mahindra Capital, JM Financial, Morgan Stanley and Citigroup will advise. The offering may combine fresh shares and existing investor sales, with a draft prospectus expected by December, though details remain subject to change.
CarDekho set to file for Rs 3,000 crore IPO; targets around Rs 13,000 crore valuation
The IPO is expected to be largely an offer for sale (OFS) by existing shareholders, with a fresh issue of about Rs 300 crore. The Jaipur-based company is eyeing a valuation of around Rs 13,000 crore as per early discussions with investment bankers, according to the people. This would be higher than its last private valuation of Rs 9,000 crore, when it had raised Rs 1,900 crore in primary capital around five years ago.
Hillhouse set to buy 5% in Quest Global
Asia-focused Hillhouse Investment Management is nearing a deal to acquire a 5% stake in Quest Global. The engineering services firm is valued at approximately $4.5 billion. This investment is part of Quest Global's pre-IPO fundraising. Singapore's Temasek may also secure a smaller stake. Quest Global is also considering a reverse flip to list on Indian stock exchanges.
China tech giant JD.Com unit, two other firms plan $1 billion Singapore REIT: Sources
JD Property, Partners Group, and EZA Hill Property are planning to launch a Singapore-based REIT potentially valued at over $1 billion, aiming for a listing on the Singapore Exchange as early as next year. This move signals growing confidence in Singapore's REIT sector and highlights the increasing role of Chinese capital in Southeast Asia.
PEs seek access to majority stake in US healthcare BPO
Advent International, Blackstone and Carlyle are bidding to buy a majority stake in Access Healthcare, a Texas-based healthcare BPO. Hillhouse Investment is also in the fray. These firms will submit non-binding offers by mid-December for a 60-70% stake, valuing the company at $1.4-1.5 billion. The deal's specifics will be finalized in subsequent negotiations.
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EQT set to acquire BPO GeBBS from ChrysCapital
Swedish private equity fund EQT is set to acquire Los Angeles-based healthcare BPO company GeBBS Healthcare Solutions for about $870 million. The deal, which outbid Hillhouse Investment, is expected to be signed soon. GeBBS, founded in 2005, employs 14,000 workers globally and competes with major firms like Wipro and IBM.
Hillhouse bids highest to buy healthcare BPO GeBBS from Chrys Cap for $870 mn
GeBBS Healthcare Solutions, a Los Angeles-based healthcare BPO firm, is nearing acquisition by Hillhouse Investment, which has offered about $870 million. The final decision is expected in two weeks as ChrysCapital holds another round of negotiations. The acquisition will potentially see industry veterans Gautam Barai and Gautam Narayan at the helm.
Jaypee Group taps global credit funds for Rs 10k crore to bail out flagship firm
Facing financial distress, Jaypee Group is seeking ₹10,000 crore in high-cost financing from global credit funds such as Varde Partners, Ares, Cerberus, and Hillhouse to rescue its flagship company, Jaiprakash Associates Limited (JAL), from insolvency. JAL was admitted for insolvency on June 3 by the NCLT following a petition by ICICI Bank. Key issues include disputes with land authorities and principal repayments due in 2037. The company plans to refinance loans and sell assets, including real estate, cement plants, and a Formula One racetrack.
Carlyle, CVC & Hillhouse in the fray for GeBBS
Global private equity firms including Carlyle Group, Hillhouse Investment and CVC Capital Partners have been shortlisted to acquire ChrysCapital-owned GeBBS Healthcare Solutions, said people familiar with the development. The deal proposes to value the Los Angeles-based healthcare business process outsourcing firm at $800 million. The firms, shortlisted after the initial round, will submit a binding offer by mid-July, said one of the persons, who did not wish to be identified.
PE funds set sights on alternative assets to prop up realty portfolio
Piyush Gupta, Managing Director of Capital Markets & Investment Services at Colliers India, said that businesses are adjusting their plans and investors are refining their strategies to select markets and assets that offer strong returns this year.
Chinese startup Full Truck valued at nearly $12 billion after SoftBank-led round: Report
The fundraising comes as the truck-hailing platform is planning an offshore initial public offering (IPO) as early as next year.
From investments in Tencent to Zoom, Hillhouse founder Lei Zhang is one of the world’s richest financiers
Zhang met with Zoom’s Yuan in Menlo Park, California, before an early funding round in February 2015. Yuan explained the business and his engineering work at another video conferencing site WebEx, according to a person familiar with the talks.
EpiFi scores $13 million in its seed round
Funding tap is open for a host of ventures Sequoia Capital, Ribbit Capital, others pitch in.
Cred closes $120m round as valuation jumps to $450m
Freecharge founder Kunal Shah, who launched Cred as his second venture, has positioned the company as a platform for all forms of credit card bill payments.
DST may back PhonePe's $1 billion raise
PhonePe, which recently crossed 3-billion-transactions landmark on its platform, is believed to be looking at a valuation in the range of $8 -12 billion.
Udaan to raise $500 million, valuation may climb 2x to $2.2 billion
Round may see new investors like Hillhouse, Altimeter along with existing backers.
Moglix lands $60 million funding led by Tiger Global and Sequoia Capital
The company will primarily use the proceeds to ramp up infrastructure. Moglix is currently present in 14 locations, and plans to be in 22-25 industrial hubs.
US venture firm General Catalyst may invest in Cred in its first India bet
The company’s Series-B round is being led by existing investors including Sequoia Capital, Ribbit Capital and Yuri Milner’s Apolleto Asia.
Kunal Shah’s Cred in talks for $100 million from Hillhouse, others
Top funding deals in the works in startupland Sequoia and other existing investors likely to lead new round, valuing the firm at $400 million
CarDekho’s parent lands $110m from Sequoia, others
New round values firm between $400 m & $500 m, Axis Bank in investor list.
Miniso records sales at Rs 700cr for first year, experts sceptical
Earlier this month, Miniso raised $145 million (Rs 1,070 crore) from Tencent and Hillhouse Capital.
CarDekho sees revenues grow 40% in FY18 even as losses fall by almost 50%
The Gurgaon-based firm has seen the segment add significant heft to its balance sheet with FY18 revenues growing about 40% to come in at Rs 160 crore from Rs 114 last year.
ShareChat Valuation Jumps 7x to $460 million
Round led by existing backer Shunwei Capital with new investors Morningside and a DST Global affiliate
Soros, Hillhouse place orders in $6.1 billion Xiaomi IPO
Xiaomi had attracted cornerstone investments from Qualcomm Inc. and China Mobile Ltd. for the deal.
CarDekho.com parent GirnarSoft acquires SaaS startup Connecto
In an official statement issued by GirnarSoft, the company said it will leverage Connecto’s tools to improve user experience across all its websites and apps.
CarDekho raises undisclosed sum in fresh funding round led by Google Capital
The latest round will see the company use the proceeds towards creating a larger sales team as well as focus on creating a more immersive consumer experience.
Airbnb is worth $25.5 billion after raising a massive $1.5 billion round
Home-rental site Airbnb just landed a sky-high valuation at $25.5 billion, after finalizing a $1.5 billion funding round.
CarDekho raises Rs 307 cr in fresh funding round
CarDekho.com has raised $50 million, or about Rs 307 crore, in a new round of funding led by Chinese funds Hillhouse Capital and Tybourne Capital.
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