ITC, Kellogg's spinoff, PE firms eye snacks brand, bakery chain; Startups' other income jumps again

Trouble viewing this email? [View in web browser](/0/aHR0cHM6Ly9hc3NldHMudmNjaXJjbGUuY29tL25ld3NsZXR0ZXIvMjAyNC8wNC9kYWlseS92Y2MtZGFpbHktbmV3c2xldHRlci0yMDI0LTA0LTAzLmh0bWw=/660d685793c453ed24c89527-20240403) [VCCircle](/1/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tLw==/660d685793c453ed24c89527-20240403) Wednesday, 3 Apr 2024 /2/aHR0cHM6Ly90aGVwaXRjaC52Y2NldmVudHMuY29tLw==/660d685793c453ed24c89527-20240403 /3/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2l0Y2tlbGxvZ2ctcy1zcGlub2ZmLWZpcm0tZXllLXN0YWtlLWluLWFub3RoZXItcGUtYmFja2VkLWhlYWx0aHktc25hY2tzLWJyYW5k/660d685793c453ed24c89527-20240403 M&A [ITC, Kellogg's spinoff firm eye stake in another PE-backed healthy snacks brand](/4/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2l0Y2tlbGxvZ2ctcy1zcGlub2ZmLWZpcm0tZXllLXN0YWtlLWluLWFub3RoZXItcGUtYmFja2VkLWhlYWx0aHktc25hY2tzLWJyYW5k/660d685793c453ed24c89527-20240403) Mumbai-listed consumer goods major ITC Ltd and US-based food giant and breakfast cereal maker Kellogg's are among a string of suitors looking to ...... 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[Read more](/7/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL21hcnF1ZWVwZWZpcm1zLWpvaW4tcmFjZS10by1idXktb3V0LWljaWNpLXZlbnR1cmUtZnJvbS1iYWtlcnktY2hhaW4=/660d685793c453ed24c89527-20240403) --------------------------------------------------------------- Analysis [Indian startups’ income from VC cash lying in bank deposits, mutual funds jumps again](/8/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2luZGlhbnN0YXJ0dXBzLWluY29tZS1mcm9tLXZjLWNhc2gtbHlpbmctaW4tYmFuay1kZXBvc2l0cy1tdXR1YWwtZnVuZHMtanVtcHMtYWdhaW4=/660d685793c453ed24c89527-20240403) India’s top technology startups generated high non-operating revenue for the second year in a row during the 12 months through March 2023, albeit at...... [Read more](/9/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2luZGlhbnN0YXJ0dXBzLWluY29tZS1mcm9tLXZjLWNhc2gtbHlpbmctaW4tYmFuay1kZXBvc2l0cy1tdXR1YWwtZnVuZHMtanVtcHMtYWdhaW4=/660d685793c453ed24c89527-20240403) --------------------------------------------------------------- /10/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dlbmVyYWxhdGxhbnRpYy10by1hY3F1aXJlLXVqYWxhLWN5Z251cy1lYXJseS1iYWNrZXJzLXRvLWV4aXQ=/660d685793c453ed24c89527-20240403 Private Equity [General Atlantic to acquire Ujala Cygnus, early backers to exit](/11/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dlbmVyYWxhdGxhbnRpYy10by1hY3F1aXJlLXVqYWxhLWN5Z251cy1lYXJseS1iYWNrZXJzLXRvLWV4aXQ=/660d685793c453ed24c89527-20240403) US-based private equity firm General Atlantic will acquire “a significant majority” stake in regional hospital chain Ujala Cygnus, as buyout firms...... [Read more](/12/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dlbmVyYWxhdGxhbnRpYy10by1hY3F1aXJlLXVqYWxhLWN5Z251cy1lYXJseS1iYWNrZXJzLXRvLWV4aXQ=/660d685793c453ed24c89527-20240403) --------------------------------------------------------------- Private Equity [Asian Healthcare Fund-backed Sabka Dentist on the block again, but suitors missing](/13/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2FzaWFuaGVhbHRoY2FyZS1mdW5kLWJhY2tlZC1zYWJrYS1kZW50aXN0LW9uLXRoZS1ibG9jay1hZ2Fpbi1idXQtc3VpdG9ycy1taXNzaW5n/660d685793c453ed24c89527-20240403) Dental care chain Sabka Dentist is likely seeking potential buyers again after a deal with a cash-rich peer collapsed but any sale seems like an ...... [Read more](/14/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2FzaWFuaGVhbHRoY2FyZS1mdW5kLWJhY2tlZC1zYWJrYS1kZW50aXN0LW9uLXRoZS1ibG9jay1hZ2Fpbi1idXQtc3VpdG9ycy1taXNzaW5n/660d685793c453ed24c89527-20240403) --------------------------------------------------------------- Private Equity [Blackstone to invest $2 bn a year in India](/15/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JsYWNrc3RvbmV0by1pbnZlc3QtMi1ibi1hLXllYXItaW4taW5kaWE=/660d685793c453ed24c89527-20240403) Blackstone will invest at least $2 billion a year in India for the next five years, a top company executive said, citing the country's fast-...... [Read more](/16/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JsYWNrc3RvbmV0by1pbnZlc3QtMi1ibi1hLXllYXItaW4taW5kaWE=/660d685793c453ed24c89527-20240403) --------------------------------------------------------------- /17/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3ZvZGV4dGhyZWUtb3RoZXJzLXNlY3VyZS1lYXJseS1zdGFnZS1mdW5kaW5n/660d685793c453ed24c89527-20240403 Venture Capital [SiftHub, Vodex, four others secure early-stage funding](/18/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3ZvZGV4dGhyZWUtb3RoZXJzLXNlY3VyZS1lYXJseS1zdGFnZS1mdW5kaW5n/660d685793c453ed24c89527-20240403) Artificial intelligence platform SiftHub, adventure sport programmes provider Rocksport, software-as-a-service (SaaS) startup Vodex, agritech startup ...... [Read more](/19/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3ZvZGV4dGhyZWUtb3RoZXJzLXNlY3VyZS1lYXJseS1zdGFnZS1mdW5kaW5n/660d685793c453ed24c89527-20240403) --------------------------------------------------------------- Private Equity [Blackstone weighs $300 mn IPO of India diamond certification firm](/20/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JsYWNrc3RvbmV3ZWlnaHMtMzAwLW1uLWlwby1vZi1pbmRpYS1kaWFtb25kLWNlcnRpZmljYXRpb24tZmlybQ==/660d685793c453ed24c89527-20240403) Blackstone is exploring raising $300 million via an India IPO of the International Gemological Institute (IGI), less than a year after it acquired the...... [Read more](/21/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2JsYWNrc3RvbmV3ZWlnaHMtMzAwLW1uLWlwby1vZi1pbmRpYS1kaWFtb25kLWNlcnRpZmljYXRpb24tZmlybQ==/660d685793c453ed24c89527-20240403) --------------------------------------------------------------- Investment Banking [Standard Chartered picks new regional heads amid investment banking reshuffle](/22/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3N0YW5kYXJkY2hhcnRlcmVkLXBpY2tzLW5ldy1yZWdpb25hbC1oZWFkcy1hbWlkLWludmVzdG1lbnQtYmFua2luZy1yZXNodWZmbGU=/660d685793c453ed24c89527-20240403) Standard Chartered has picked new regional heads, according to a person with knowledge of the matter, as the Asia-focused bank undergoes a major ...... [Read more](/23/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3N0YW5kYXJkY2hhcnRlcmVkLXBpY2tzLW5ldy1yZWdpb25hbC1oZWFkcy1hbWlkLWludmVzdG1lbnQtYmFua2luZy1yZXNodWZmbGU=/660d685793c453ed24c89527-20240403) --------------------------------------------------------------- Others [Grapevine: Warburg leads race for Shriram unit; Hindujas, Dixon weigh M&As](/24/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dyYXBldmluZXdhcmJ1cmctbGVhZHMtcmFjZS1mb3Itc2hyaXJhbS11bml0LWhpbmR1amFzLWRpeG9uLXdlaWdoLW0tYXM=/660d685793c453ed24c89527-20240403) Private equity firm Warburg Pincus is emerging as the top contender to acquire Shriram Housing Finance Ltd (SHFL), a unit of Chennai-based non-banking...... [Read more](/25/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL2dyYXBldmluZXdhcmJ1cmctbGVhZHMtcmFjZS1mb3Itc2hyaXJhbS11bml0LWhpbmR1amFzLWRpeG9uLXdlaWdoLW0tYXM=/660d685793c453ed24c89527-20240403) --------------------------------------------------------------- People [Veritas Legal promotes two lawyers to partnership](/26/aHR0cHM6Ly93d3cudmNjaXJjbGUuY29tL3Zlcml0YXNsZWdhbC1wcm9tb3Rlcy10d28tbGF3eWVycy10by1wYXJ0bmVyc2hpcA==/660d685793c453ed24c89527-20240403) Boutique transaction advisory law firm Veritas Legal has elevated two of its principal associates in the dispute resolution practice to partnership...... 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