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Business Standard
a day ago
- Business
- Business Standard
Data analytics firm Tredence bets on GenAI to fuel growth over next 5 yrs
Avik Das Bengaluru Listen to This Article Data science and analytics firm Tredence, which recently became a unicorn and is valued at about $1.5 billion, is betting on the rapid adoption of generative artificial intelligence (Gen AI) projects to fuel its growth over the next five years, its co-founder Shashank Dubey said. 'If you use the multiple from our Series B fund raise, whatever the math we used while raising at that time, the same factor multiplied with my current revenue will value us at about $1.5 billion,' Dubey, who is also the head of analytics delivery, told Business Standard during an interaction. Backed by Advent International
Mint
5 days ago
- Business
- Mint
PAG-backed Manjushree Technopack may spend $150-180 mn to acquire 4-5 assets as packaging sector undergoes consolidation
Next Story Business News/ Companies / News/ PAG-backed Manjushree Technopack may spend $150-180 mn to acquire 4-5 assets as packaging sector undergoes consolidation Priyamvada C , Sneha Shah The sector, which is at the cusp of consolidation, has shown substantial growth potential, driven by demand across India's consumer, industrial, pharmaceutical, and export industries, making it an attractive proposition for PE firms and global companies. Last year, US-based fund Advent International sold its majority stake in MTL at a valuation of $1 billion to Asia Pacific-focused private equity firm PAG. Gift this article MUMBAI :PAG-backed Manjushree Technopack Ltd (MTL) is in talks to acquire 4-5 assets and may spend a combined amount of $150-180 million to bolster its offerings, three people familiar with the matter said, further underscoring the growing consolidation in the packaging sector. PAG-backed Manjushree Technopack Ltd (MTL) is in talks to acquire 4-5 assets and may spend a combined amount of $150-180 million to bolster its offerings, three people familiar with the matter said, further underscoring the growing consolidation in the packaging sector. "The company is looking to strengthen its presence in its existing areas and bolster its revenue growth. It has identified 4-5 candidates to acquire, and the discussions are ongoing. Two of them are in advanced stages and are expected to happen in the coming months," the people added. 'These acquisitions are aimed at improving MTL's revenue growth and justify the billion-dollar valuation it sought when PAG invested in the company last year," one of the people cited above said. MTL did not respond to Mint's emails sent on Friday requesting comment. The packaging sector, which is at the cusp of consolidation, has shown substantial growth potential, driven by demand across India's consumer, industrial, pharmaceutical, and export industries. This makes it an attractive proposition for PE firms and strategics orglobal companies looking to buy assets in India. Also Read: MTR Foods owner Orkla files draft IPO papers, to sell 22.8 mn shares Last year, US-based fund Advent International sold its majority stake in MTL at a valuation of $1 billion to Asia Pacific-focused private equity firm PAG. Initially, Advent sought an exit on its six-year-old bet through an IPO, which was later called off when the private equity firm got the opportunity for a full exit at a better price in the private markets. PAG investments While proceeds from the offer-for-sale were expected to go to Advent, MTL detailed that the fresh issue will be used to repay/prepay outstanding borrowings, in full or in part, and pursue inorganic growth through acquisitions and other strategic initiatives, as per its DRHP filed in August last year. Meanwhile, PAG made its second investment in the packaging sector through a majority stake in Pravesha Industries Pvt. Ltd for $200 million in January. While Manjushree serves a diversified customer base spanning consumer end-markets such as home care, personal care, food and beverages, paints, nutraceuticals, agrochemicals, liquor and spirits, and dairy, Pravesha stands out as a specialised player, focusing solely on pharmaceutical packaging.'PAG's investment has enabled MTL to leverage Pravesha's network to foray into pharmaceutical packaging," one of the people cited above said. Broadly, several investment firms, like Carlyle Group and Bain Capital, have also created dedicated platforms to acquire and integrate mid-size companies. While Carlyle announced its diversified auto platform by combining Highway Industries and Roop Automotives, Bain is also in the process of creating a similar structure. Carlyle also has a platform in the generic pharmaceuticals segment in India through partnering with Viyash Life Sciences in 2021 and acquiring Symed Labs, a manufacturer of niche APIs to enable backward integration. Over the years, Manjushree has acquired companies such as Pearl Polymer, Classy Kontainers, and Hitesh Plastics Pvt., which have helped it increase its geographic presence across India and expand its product categories and customer base in newer industries. MTL, which already has expertise in select areas, plans to further bolster its presence through inorganic and organic growth plans. According to its DRHP, the company reported an operating revenue of ₹ 2,117 crore in FY24, compared to ₹ 2,096 crore a year earlier. Its profit more than doubled to ₹ 140 crore. Growing through acquisitions With other acquisitions such as Varahi in 2017 and facilities of National Plastics Industries Ltd (Napla) in fiscal 2020 in North India, its overall market reach and ability to service diverse clients improved substantially,Crisil said in a report in December. The acquisitions have also helped to improve product diversity (Napla acquisition has added dispensers and sprays to the portfolio), add new clients, and supply new products to existing clients, thereby improving wallet share, the credit rating agency said. 'These helped to expand into new client and product (such as caps and closures) segments. Addition of new plants in Vizag and Mysore will further support client additions, apart from enhancing product profile," Crisil said, adding that the acquisition of the plastic packaging business of Oricon is expected to further strengthen its business risk profile. Manjushree Technopack's presence in North India improved after the acquisition of Varahi, Napla, and PPL. It should continue to help MTL integrate manufacturing units with customers' supply chain systems, underlining the successful integration of its past transactions. Additionally, the newly commissioned Vizag plant, the upcoming Mysore plant, and recent acquisitions will bring the company's facilities closer to customers, Crisil said. India's packaging sector, valued at ₹ 6,399 billion in FY23, is expected to reach ₹ 8,620 billion over the next five years, driven by various factors such as rising disposable incomes, urbanisation, increased demand for processed and packaged goods, and a thriving e-commerce sector, according to a Technopak report last year. The report added that other government initiatives focused on organised retail and food safety are further propelling demand for high-quality, standardised packaging solutions. MTL, which competes with listed rivals such as Moldtek Packaging, TCPL Packaging, Uflex Ltd and EPL Ltd, is one of the largest players in the rigid plastics packaging business in India. It has a strong market share supported by established relationships with customers such as Reckitt Benckiser,Dabur India, Hindustan Coca Cola Beverages, PepsiCo India, and Mondelez India Foods. Also Read: Sheela Foam eyes further investment in Furlenco as furniture rental market grows While the packaging industry is highly fragmented, leading to intense competition that may continue to constrain scalability, pricing power, and profitability, Crisil said MTL may continue to benefit from its well-developed, in-house design facilities, capabilities of diverse manufacturing processes, and ability to pass on raw material price variations to clients. Topics You May Be Interested In Catch all the Business News , Corporate news , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Wall Street Journal
13-06-2025
- Business
- Wall Street Journal
KKR Making Competing Bid for Equipment Maker Spectris
KKR KKR -1.64%decrease; red down pointing triangle is preparing a bid for Spectris, a U.K. maker of high-tech equipment and software, according to people familiar with the matter. The private-equity giant would be bidding against rival Advent International, which submitted a proposal valuing Spectris at £37.63 per share, or about $5 billion, the company confirmed Monday.
Mint
11-06-2025
- Business
- Mint
Aditya Birla Capital shares rise nearly 3% to 52-week high despite Advent's partial stake sale worth ₹568 crore
Shares of Aditya Birla Capital surged nearly 3 percent in intraday trading on Wednesday, June 11, touching a fresh 52-week high of ₹ 249.80, even as private equity major Advent International partially exited its holding through a block deal. The transaction saw around 2.34 crore shares, equivalent to a 0.9 percent stake and valued at approximately ₹ 568 crore, change hands at ₹ 242.70 per share. According to media reports, Jomei Investments—Advent International's special purpose vehicle—had initiated a larger block deal a day earlier, on Tuesday, June 10. The deal was set to offload a 1.4 percent stake in Aditya Birla Capital, pegging the total transaction value at around ₹ 856 crore. The floor price for the deal was fixed at ₹ 237.80 per share, representing a 2 percent discount to the stock's closing price in the previous session. Despite the discounted pricing and sizeable deal, the stock remained resilient, reflecting continued investor confidence in the company's fundamentals and growth outlook. As of March 2025, Advent held a 3.84 percent stake in Aditya Birla Capital. The latest transaction marks a partial exit and the offloaded shares will be under a 30-day lock-in period. Advent originally invested ₹ 1,000 crore in 2020 through a preferential allotment of 10 crore equity shares at ₹ 100 each. Based on the current floor price of ₹ 237.80, Advent stands to clock an impressive return of 138 percent on its initial investment. Aditya Birla Capital's stock has been on a steady uptrend, rising 68 percent from its 52-week low of ₹ 148.75 touched in February 2025. In the past one year, the stock has delivered a 4 percent return. The momentum has picked up considerably in recent months, with gains of 11 percent in June alone. This follows a 13 percent rise in May, 6 percent in April, and an 18 percent surge in March. The only notable dip came in February, when the stock declined 13 percent. The company's solid financial performance has also underpinned investor optimism. For the quarter ended March 31, 2025, Aditya Birla Capital reported a consolidated net profit of ₹ 865 crore, reflecting a 6 percent year-on-year increase when adjusted for one-time gains. In the corresponding quarter of FY24, the firm had reported a net profit of ₹ 1,245 crore, which included exceptional income from a stake sale in its asset management business via an Offer for Sale. Excluding the one-off, the net profit stood at ₹ 812 crore. Total income for the fourth quarter of FY25 rose to ₹ 12,239 crore, up from ₹ 10,803 crore in the same period last year. The company's overall lending book, including NBFC and HFC segments, grew 27 percent YoY to ₹ 1,57,404 crore. Additionally, total assets under management (AUM) across its asset management, life insurance, and health insurance businesses climbed 17 percent YoY to ₹ 5,11,260 crore. The total premium collected from life and health insurance businesses also rose by 22 percent to ₹ 25,579 crore in FY25.
Economic Times
11-06-2025
- Business
- Economic Times
Aditya Birla Capital shares up 3%; Advent International likely offloads stake in block deal
Aditya Birla Capital shares went up 3% amid reports that Advent International has offloaded a stake in a block deal. The PE firm, which invested Rs 1,000 crore in 2020 in the stock, stands to earn a 138% return. A 30-day lock-in applies to the offloaded shares. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Aditya Birla Capital Q4 earnings Aditya Birla Capital share price target and performance Tired of too many ads? Remove Ads Shares of Aditya Birla Capital jumped up to 3% to Rs 249.80 on the BSE on Wednesday, as US-based private equity firm Advent International is said to have pared its stake in the company through a block deal According to media reports, Advent affiliate Jomei Investments had planned to sell 3.6 crore shares — representing a 1.4% stake in Aditya Birla Capital — via open market transactions. The floor price for the deal was set at Rs 237.81 per share, nearly 2% below the previous NSE closing price. At this price, the deal size is estimated at around Rs 856 crore.A large block deal was observed in the counter this morning, though details of the buyers and sellers could not be independently originally invested Rs 1,000 crore in 2020 through a preferential allotment of 10 crore equity shares at Rs 100 apiece. Based on the current floor price, the firm stands to make a return of 138% on its the quarter ended 31 March 2025, Aditya Birla Capital reported a consolidated net profit of Rs 865 crore, marking a 6% year-on-year increase when adjusted for one-time gains. In Q4 FY24, the company had posted a net profit of Rs 1,245 crore, which included exceptional gains from a stake sale in its asset management business via an OFS. Excluding that, profit stood at Rs 812 income rose to Rs 12,239 crore in Q4 FY25, up from Rs 10,803 crore in the year-ago a separate statement, the company said its overall lending portfolio—including NBFC and HFC segments—grew 27% YoY to Rs 1,57,404 crore as of 31 March 2025. Total AUM across the AMC, life, and health insurance businesses rose 17% YoY to Rs 5,11,260 crore. Total premium collected from life and health insurance climbed 22% to Rs 25,579 crore in a standalone basis, profit after tax stood at Rs 654 crore in Q4 FY25, compared to Rs 616 crore a year earlier. Total income grew to Rs 3,879 crore from Rs 3,527 crore during the same to Trendlyne, the average target price for Aditya Birla Capital is Rs 254, implying an upside of around 5% from current levels. Of the 10 analysts tracking the stock, most have a 'Strong Buy' stock's Relative Strength Index (RSI) stands at 77.8, indicating overbought conditions and the potential for a pullback. The MACD is at 7.8, remaining above both its centerline and signal line—typically a bullish Birla Capital shares closed 1.04% higher at Rs 242.7 on the BSE in the previous session. The stock has gained 36% year-to-date and 54% over the past three months.
