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.
Max Healthcare Institute Ltd. has reported a Consolidated Total Income of Rs 1408.64 Crore for the quarter ended 30-09-2023, showing a growth of 6.21% from the last quarter. The company has also announced that the Promoters hold a 23.76% stake in the company as of 30-Sep-2023.
German MNC Siemens has announced plans to demerge its Indian unit, Siemens Ltd, in 2025. To accelerate the demerger process, Siemens AG will acquire an 18% stake in Siemens Ltd for €2.1 billion. The acquisition will increase Siemens’ stake in the Indian subsidiary from 51% to 69%, while Siemens Energy’s stake will decrease from 24% to 6%. The demerger aims to separate the business activities of Siemens in India.
Bank of Baroda is set to divest 50% stake in Nainital Bank in the first tranche. Bidders including Gaja Capital, Piramal Alternatives-led consortium, Faering Capital, and Unity SFB are likely to participate. Read-on for more information.
