Mumbai-based Avanse Financial Services, backed by private equity major Warburg Pincus, Kedaara Capital and the International Finance Corporation (IFC), has shortlisted six bankers for its ..
Airtel has reportedly appointed a clutch of investment banks, including Axis Capital, SBI Caps, IIFL and ICICI Securities to start the IPO process. The listing is likely to be concluded by early-2024. Industry experts, though, said the government s expectations of raking in around Rs 10,000 crore from a potential divestment of its 30% stake in Bharti Hexacom is more than three times higher than an earlier valuation conducted by brokerage J M Financial some two years ago.
"In a meeting held today lenders asked CFM ARC to improve the bid amount to ₹1,265 crore from ₹1,220 crore and close the transaction," said a bank source. "CFM ARC has deposited the entire amount in two tranches by the end of the day."