In today’s briefing:
- Blackstone’s ₹1,800 Crore Residential Bet on Kolte-Patil
- Coromandel’s Strategic Play for NACL Industries: Bottom of the Agrochem Cycle Bargain?
- Fujiyama Power Systems Ltd Pre-IPO Tearsheet
- Bajaj Finserv Acquires Full Control of Bajaj Allianz Life & General Insurance
- Anthem Biosciences Pre-IPO – The Positives – Portfolio Expansion, Increasing Capacity to Fuel Growth
Blackstone’s ₹1,800 Crore Residential Bet on Kolte-Patil
- Blackstone (BX US) is investing INR 1,800 crore to acquire a 66% stake in Kolte Patil Developers (KPDL IN), marking its first big move into India’s residential real estate market.
- This deal signals rising institutional interest in India’s housing sector and sets the stage for a potential residential REIT, similar to Blackstone’s office REIT playbook.
- The residential segment, long seen as fragmented and informal, may now see valuation re-ratings, increased M&A activity, and formalization driven by global capital.
Coromandel’s Strategic Play for NACL Industries: Bottom of the Agrochem Cycle Bargain?
- Coromandel International (CRIN IN),a key Murugappa Group company, acquired a 53% controlling stake in NACL Industries for INR 820Crs on March 12, 2025 at INR 76.70 per share.
- NACL Industries is a Hyderabad-based agrochemical firm with manufacturing units, a diverse product portfolio, and technical export capabilities, including a presence in contract manufacturing.
- With this merger at decent valuation, Murugappa group(which is known for efficient capital allocation) certainly make it more efficient and value accretive for their business.
Fujiyama Power Systems Ltd Pre-IPO Tearsheet
- Fujiyama Power Systems Ltd (1742651D IN) (FPSL) is planning to raise about US$138m through its upcoming India IPO. The lead bookrunners for the deal are Motilal, SBI.
- FPSL was established in 1996. The company specializes in solar panel and inverter manufacturing, covering on-grid, hybrid, and off-grid solutions, along with lead acid and lithium-ion battery production.
- As per CARE Report, it was the 1st Indian company to develop an SMT-based inverter with a single card in 2000.
Bajaj Finserv Acquires Full Control of Bajaj Allianz Life & General Insurance
- Bajaj Finserv (BJFIN IN) has acquired Allianz’s 26% stake in both insurance JVs for INR 24,180 crore, gaining full control of Bajaj Allianz Life and General Insurance.
- This unlocks platform-wide integration across lending, wealth, and insurance, setting Bajaj up as a full-stack financial services powerhouse with total strategic control.
- With valuations set and consolidation likely, India’s insurance sector enters a new era- where scale, tech, and single ownership will drive future leadership.
Anthem Biosciences Pre-IPO – The Positives – Portfolio Expansion, Increasing Capacity to Fuel Growth
- Anthem Biosciences (1234D IN) is looking to raise up to US$400m in its upcoming India IPO.
- Anthem Biosciences (ABS) is a contract research, development and manufacturing organisation (CRDMO) with fully integrated operations spanning drug discovery, development, and manufacturing.
- In this note, we talk about the positive aspects of the deal.
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