Bain Capital, Advent International, and CVC Capital are among the private equity funds that are competing to buy Shriram Housing Finance Ltd (SHFL), an arm of Chennai-based non-banking finance company Shriram Finance. The shortlisted bidders are currently conducting due diligence, with binding bids due in a fortnight. SHFL expects a valuation of Rs 6,500 crore for the business, while the initial offers have been in the Rs 5,000-5,500 crore range.
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Abu Dhabi Investment Authority (ADIA) and HarbourVest are exploring the possibility of acquiring a minority stake in Cohance Lifesciences, a Hyderabad-based pharmaceutical platform owned by Advent International. The investment is expected to be around $350-400 million, valuing Cohance Lifesciences at approximately $1.5 billion. ADIA already has a presence in India’s pharmaceutical sector, owning a stake in Intas Pharmaceuticals.
