India M&A Transactions

Chemfield Cellulose is a developer and manufacturer of MCC (microcrystalline cellulose) excipients and its derivatives. Microcrystalline cellulose is a refined, high-purity cellulose powder that serves as a critical excipient in pharmaceutical formulations. It is also widely used in dietary supplements and food applications. Chemfield Cellulose was founded in 1992 and is based in Nagpur, Maharashtra.

Oji Holdings
Company
Forest Products
Tokyo, Japan
www.ojiholdings.co.jp

Zenduty is an end-to-end incident and on-call management solution that provides cross-channel alerts via email, phone, SMS, Slack, and Microsoft Teams to ensure the client is promptly notified during service downtimes. Designed to enhance incident response efficiency, the company offers features such as customizable alerting, on-call scheduling, and seamless integrations with over 150 tools, including Datadog, Jira, and Slack. Zenduty is based in Bengaluru, India.

Xurrent
Company
Information Technology
Santa Barbara, California
www.xurrent.com

HCG is a large provider of cancer care by operating 23 specialist centers (c.2,000 beds), three multi-specialty hospitals and seven IVF clinics. The business has an expansive geographic footprint, strong brand recognition and a reputation for clinical excellence and successful outcomes. HCG was founded in Bangalore, India.

KKR
Investor
Private Equity Firm
New York, New York
www.kkr.com

CVC Capital Partners
Investor
Private Equity Firm
Luxembourg, Luxembourg
www.cvc.com

QBurst is a product development and consulting company. QBurst serves a diverse, worldwide clientele across a broad range of industries, offering comprehensive digital solutions. QBurst’s capabilities span a wide spectrum of digital solutions, encompassing cloud enablement, data and AI development, digitalization services (including mobility, CRM, and enterprise solutions), end-to-end product development leveraging microservice architecture, DevOps, and cybersecurity best practices, digital marketing strategies, and SaaS implementations. QBurst was founded in 2004 and is based in Thiruvananthapuram, Kerala.

Multiples Alternate Asset Management
Investor
Private Equity Firm
Mumbai, India
www.multiplesequity.com

R.K. Batra Group began as a transporter of LPG, propane, and propylene under the name "Shree Rama Roadways". Batra has a dominant presence across India and Nepal, operating a fleet of over 950 LPG road tankers and owns two LPG bottling plants. Additionally, R.K. Batra also operates an LPG cylinder manufacturing plant, which after a rigorous assessment has been approved to supply to the U.S market. R.K. Batra Group was founded in 1981 and is based in Noida, Uttar Pradesh.

Rektron Group
Company
Financial Services
Vancouver, British Columbia
www.rektrongroup.com

Itanta Analytics develops and sells no-code data-analysis and report-generation applications. Itanta Analytics is based in Pune, India.

Mitsubishi Electric
Company
Electrical Equipment
Tokyo, Japan
www.mitsubishielectric.com

Mhz Invensys offers its technology to device manufacturers, communication platform providers, backhaul service enablers, and business-specific application providers such as HES (Head-End Systems), MDMS (Meter Data Management Systems), and analytics platforms. Mhz Invensys is based in Bengaluru, India.

ConnectM
Company
Software
Marlborough, Massachusetts
www.connectm.com

Wingify is a provider of testing and optimization solutions for businesses. The flagship product, VWO, serves over 3,000+ global brands, helping them optimize digital experiences and drive business growth. Wingify was founded in 2010 and is based in Delhi, Delhi.

Everstone Group
Investor
Private Equity Firm
Singapore, Singapore
www.everstonecapital.com

Dhoot Transmission Group is a distinguished group of companies expanding into the global automotive components industry. The company's broad spectrum of business pursuits, extending from the design to manufacturing of Wiring Harnesses and Components (including several EV Components) tailored for Two-wheelers, Three-wheelers, commercial vehicles, Off-road vehicles as well as Farm equipment. Dhoot Transmission Group is based in Aurangabad, India.

Bain Capital Private Equity
Investor
Private Equity Firm
Boston, Massachusetts
www.baincapitalprivateequity.com
Advisors: AZB & Partners , Kirkland & Ellis , Alvarez & Marsal , PwC Corporate Finance , KPMG Corporate Finance

Truhome is a housing finance organization. Truhome was founded in 2010 and is based in Chennai, Tamil Nadu.

Warburg Pincus
Investor
Private Equity Firm
New York, New York
www.warburgpincus.com

O2 Power is a renewable energy platform to develop and execute utility-scale renewable projects across solar, wind, and hybrid with good quality off-takers via both greenfield project development and M&A. O2 Power was founded in 2020 and is based in Gurugram, India.

JSW Energy
Company
Utilities
Mumbai, India
www.jsw.in/energy

EQT
Investor
Private Equity Firm
Stockholm, Sweden
www.eqtgroup.com
Advisors: Allen Overy Shearman Sterling (A&O Shearman) , Barclays Investment Bank

Temasek Holdings
Investor
Sovereign Wealth Fund
Singapore, Singapore
www.temasek.com.sg
Advisors: Allen Overy Shearman Sterling (A&O Shearman) , Barclays Investment Bank

Rebel Foods is an internet restaurant company and home to brands including Faasos, Behrouz Biryani, Oven Story Pizza, The Good Bowl, Sweet Truth, and Wendy’s. With over 450 kitchens across 70 cities, the company has developed its full-stack technology - Rebel OS - through which multiple Rebel brands are launched and scaled up in a very short period. Through the Rebel Launcher, powered by Rebel OS, Rebel has launched over 25+ brands and expanded across the country. It currently operates 45+ brands across multiple countries - India, the United Arab Emirates (Dubai, Abu Dhabi, Sharjah) and the United Kingdom. Rebel Foods is based in Mumbai.

KKR
Investor
Private Equity Firm
New York, New York
www.kkr.com

TNQTech is a publishing technology and services company specializing in delivering AI-enabled technology and content services for some of the largest commercial publishers, prestigious learned societies, associations, and university presses. TNQTech is based in Chennai, India.

Lumina Datamatics
Company
Information Technology
Norwell, Massachusetts
www.luminadatamatics.com
Advisor: Deloitte

Niveus is a cloud engineering company, specializing in Google Cloud Platform (GCP) services. Niveus was formed in 2013 and is headquartered in Udupi, Karnataka.

NTT DATA
Company
Information Technology
Tokyo, Japan
www.nttdata.com

CRED's Happay Expense Management Platform provides expense management and the company is based in Mumbai, Maharashtra.

MakeMyTrip
Company
Internet Software and Services
Gurugram, India
www.makemytrip.com

CRED
Company
Internet Software and Services
Mumbai, India
www.cred.club

Floik is a SaaS provider. Floik is a valuable tool for product-led SaaS businesses, reaching over 8,000 users. Floik is headquartered in Bengaluru, Karnataka.

Kovai.co
Company
Software
London, United Kingdom
www.kovai.co