Global investors including Temasek and Alpha Wave Global are negotiating a $1.3 billion investment in Adani Group’s airports business, valuing Adani Airport Holdings at about $18 billion. The consortium is expected to include four investors, though two identities are unverified. Talks face hurdles: Adani’s management wants a steep premium and has rejected requests for structured, assured returns. Any equity fundraise may also depend on a forthcoming US DOJ decision on bribery and fraud allegations against Gautam Adani.
Temasek and TPG Newquest have started a fundraising process for Cloudnine Hospitals, a specialist mother-and-child care chain, valuing it at about $1 billion. Sources say the two existing investors could collectively sell 20-30% of their stake to incoming partners, potentially raising $200-300 million if new buyers receive joint control. However, joint control may be trimmed to keep founders and current investors holding meaningful stakes. The plan aligns with rising demand for single-specialty hospitals in maternity and neonatal care.
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Milky Mist Dairy Food Ltd, headquartered in Erode, has raised about Rs 482 crore in a structured pre-IPO round anchored by Jongsong Investments, an indirect Temasek unit. The deal sets a valuation floor near Rs 9,300 crore, far below the earlier Rs 20,000 crore target. With SEBI IPO approval already secured, funds will support debt repayment and manufacturing and new product expansion.
Milky Mist Dairy Food Ltd has raised about Rs 482 crore in a pre-IPO round led by Jongsong Investments, an indirect wholly-owned subsidiary of Temasek Holdings. The deal includes Rs 357 crore in primary capital and Rs 125 crore from promoter secondary sales. The round used CCPS at Rs 139.76 each, convertible on a 1:1 basis before listing, as the company gears for its Sebi-filed IPO.
NIIF is reportedly in talks with Temasek for a potential $1.7 billion acquisition of Sprng Energy, intensifying a competitive sale process. Along with NIIF and Temasek, Actis, the AV Birla Group, and KKR are also in the fray. Binding bids are expected in the coming days, setting up a high-stakes race for the renewable power asset.
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