StageAcquired | Acquired
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Latest Headstrong News
May 18, 2018
IT companies Hexaware Technologies Ltd, Mphasis Ltd and L&T Infotech Ltd are among the potential bidders for business process outsourcing firm Genpact’s capital market solutions unit Headstrong, The Times of India reported. Citing people aware of the development, the report said Headstrong’s current valuation could be around $200 million. At the time of the acquisition, Genpact’s then-CEO Pramod Bhasin had said Headstrong was a complimentary business and that Genpact would gain critical domain and technology expertise in the capital market industry vertical. In another development, Mint reported that a consortium of Kedaara Capital and Partners Group are likely to buy retail chain Vishal Mega Mart for Rs 5,000 crore from TPG Capital and Shriram Group. Citing two people directly aware of the development, the report siad the deal is likely to be announced in a week’s time. In September 2010, Vishal Retail had sold its retail, franchise and wholesale businesses to Chennai-based Shriram Group and TPG for Rs 70 crore. Subsequently, two independent companies were spun off. TPG Wholesale Pvt. Ltd took control of the wholesale and franchise arms and Airplaza Retail took over the retail arm. According to the report, Kedaara will manage the retail arm and Partners Group will control the wholesale arm in order to meet foreign direct investment regulations in the multi-brand retail sector. Meanwhile, The Economic Times reported that Bhagwati Power & Steel, owned by a consortium of Ghanshyam Mishra and Atha Group, is the front-runner to acquire debt-laden sponge iron maker Adhunik Alloys and Power Ltd. Adhunik Alloys is undergoing bankruptcy proceedings at the National Company Law Tribunal in Kolkata. The company owes lenders about Rs 750 crore. Citing a person in know of development, the report said the lenders have unanimously approved the resolution plan submitted by Bhagwati Power. The plan may be presented for final approval to the NCLT on Friday, according to the report. However, a Srei group company has approached the National Company Law Appellate Tribunal after lenders to Adhunik Alloys disqualified its bid, the report said. In a separate report, The Economic Times said that Numetal Mauritius has made a Rs 37,000 crore offer for debt-laden Essar Steel in the second round of bidding and requested the bankruptcy court to order the target company’s lenders to cancel the first round. The second round of bidding saw participation from mining tycoon Anil Agarwal-led Vedanta Resources, Numetal-JSW Steel combine and ArcelorMittal-Nippon consortium, the report said. In the second round, Numetal ended ties with Rewant Ruia’s Aurora Trust and joined hands with JSW Steel, according to the report. Essar Steel is among the 12 large non-performing assets identified by the Reserve Bank of India in its first list for loan resolution under the Insolvency and Bankruptcy Code. Essar Steel owes about Rs 49,000 crore to its lenders. According to the report, Numetal said that none of its shareholders had any loans overdue with any creditors in India.
Headstrong Frequently Asked Questions (FAQ)
When was Headstrong founded?
Headstrong was founded in 1981.
Where is Headstrong's headquarters?
Headstrong's headquarters is located at 4035 Ridge Top Road, New York.
What is Headstrong's latest funding round?
Headstrong's latest funding round is Acquired.
How much did Headstrong raise?
Headstrong raised a total of $274.22M.
Who are the investors of Headstrong?
Investors of Headstrong include Genpact, Tekla Capital Management and Welsh Carson Anderson & Stowe.
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