Oct 17, 2017

October 17, 2017 Muthooth Microfin is looking to raise up to $50 million, while Blackstone-owned BPO Intelenet is weighing the option of splitting its business. Also,  Arthe Law has is merging with Bharucha & Partners. Muthoot Microfin in talks with PEs to raise up to $50m Muthoot Microfin , a subsidiary non-banking finance firm Muthoot Fincorp , is looking to raise up to $50 million to expand its business in north India, said a report in The Economic Times. According to the sources quoted in the report, Kerala-based Muthoot Mirofin is in talks with private equity firms like Baring Private Equity Asia and Multiples for the fund raise. “The investors are doing due diligence on the company’s books. We hope to conclude the transaction before December 31,” one of the sources cited in the report. “To fuel growth in the current financial year, we are planning to raise money through a private equity deal,” Muthoot Microfin executive director Thomas Muthoot  told the news paper. Blackstone-backed Intelnet may spilt business before IPO Blackstone -owned BPO Intelenet is weighing the option of splitting its domestic and international business to get a better valuation in a potential initial public offering, as per a report in The Economic Times. Intelenet executive chairman Susir Kumar Mangalore told the news paper that BPO has no immediate need to provide an exit to its private equity owner, but was considering all options. “Both the markets are attractive and we make money on both the businesses. An IPO is the easiest option. We are contemplating whether to list the businesses (domestic and international) separately or together. That is an internal discussion right now,” Mangalore said. “We are owned by private equity , we need to give a return to our investors,“ he added. He further said that the company could also look at a strategic sale if the right buyer came along. Arthe Law to merge with Bharucha & Partners Law firm Arthe Law has decided to merge its operations with Mumbai-headquartered Bharucha & Partners. The merger will be effective from November, and the merged entity will have 12 partners and about 80 lawyers across Mumbai and Delhi. Athe Law came into being after the merger of Abhishek Malhotra-led boutique telecom, media and technology advisory law firm TMT Law Practice and New Delhi-based DPSA Legal six months ago. The merged entity will have 12 partners and about 80 lawyers across Mumbai and Delhi. The merger will be effective from 1 November. The new firm will deal in mergers and acquisitions, private equity, litigation, banking and finance, regulatory, white collar crime, competition laws, media, space law, intellectual property rights and infrastructure practices. As part of the merger, Bharucha & Partners’ Delhi team will move to Arthe’s office, while the Arthe’s lawyers in Mumbai will move to the Bharucha office. Also Read: