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The proposed combination pertains to the acquisition of Series C Preferred Stock convertible to common stock of Sutherland Global Holdings Inc. (Sutherland) in two tranches by the Coral Blue Investment Pte Ltd. (GIC Investor) subject to the fulfilment of relevant conditions.
Falguni Nayar, the founder, and her family will continue to own majority stake in the multi-brand beauty and personal care platform even after the IPO. “Primarily, it will be an offer for sale (OFS) by initial investors and about 10-15% of the offered size is a fresh issue,” said one of the persons quoted above. The company has appointed investment banks such as Kotak Mahindra Capital, BofA Securities, ICICI Securities, Citibank, Morgan Stanley and JM Financial to manage its public issue. Nykaa is among the only few profit-making etailers in India. It reported a net profit of Rs 61.96 cr...
TPG Growth, Steadview Capital, Fidelity, and Hero Group chairman Sunil Kant Munjal are some of the investors in Nykaa. The company has appointed investment banks such as Kotak Mahindra Capital, Citibank, ICICI Securities, Morgan Stanley, and Bank of America to manage its public issue. On July 16, the company changed its status from a private company to public by changing the name from FSN e-commerce Ventures Private Limited to FSN e-commerce Ventures Limited. Nykaa would be the fourth startup to file its DRHP after Zomato, Paytm, and MobiKwik Systems. Paytm has filed DRHP for an IPO to raise...
To embed, copy and paste the code into your website or blog: On February 19, 2021, the United States Court of Appeals for the District of Columbia Circuit (“D.C. Circuit”) upheld a decision by the Federal Energy Regulatory Commission (“FERC” or the “Commission”) cutting transmission incentives previously granted to three electric transmission companies. The Energy Policy Act of 2005[1] amended the Federal Power Act to require FERC to promulgate a rule creating incentive-based rate treatment for electric transmission.[2] The rule was intended to “promote reliable and economically...
Infotech > IT news CCI approves acquisition of 100% equity in Virtusa by Austin HoldCo, GIC Investor and CPPIB Investor 21 January 2021 The Competition Commission of India (CCI) approves the proposed acquisition of 100 er cent equity interest and joint control in information technology services provider Virtusa Corporation by Austin HoldCo, GIC Investor and CPPIB Investor. The proposed combination relates to the acquisition of 100 per cent equity interest and joint control in Virtusa by Baring Private Equity Asia (BPEA) through Austin HoldCo, Atago Investment Pte Ltd (GIC Investor) and CPP In...