New Delhi, June 23 -- US private equity firm Carlyle is planning to monetise its positions in distinct portfolio companies in automotive and healthcare segments through a stock market listing, a media report showed. The promoters of Interface Auto are in talks to sell a majority stake in the company which may attract PE funds and strategic investors, a separate report revealed.

Meanwhile, Nandan Nilekani's Fundamentum Partnership is eyeing the launch of a third fund subject to regulatory approval. Diagnostics platform Orange Health Labs is seeking a fundraise after a gap of more than a year, media reports showed.

Carlyle

Private equity major Carlyle is planning to launch a $500 million (around Rs 4,735 crore) initial public offering (IPO) for its Indian automotive platform, Highway Roop Precision Technologies, according to a report in The Economic Times, which cited sources familiar with the matter.

ET said the proposed listings are likely by mid-2027. The automotive platform is expected to be valued at about $2 billion (around Rs 18,939 crore), the report added.

Separately, Carlyle has also initiated the IPO process for its healthcare revenue cycle management (RCM) platform, the report said, citing investment bankers familiar with the plan. The healthcare RCM asset, created through the merger of Knack RCM and EqualizeRCM after Carlyle acquired them, should raise $400-500 million via primary and secondary share sales.

Investment bankers have begun pitching for mandates on both offerings, the report noted.

Interface Auto

Auto electronics component maker Interface Auto is exploring a majority stake sale which may attract private equity funds and strategic investors, according to a Mint report, citing sources.

The discussions are in the early stages and a potential transaction would value the company at up to $300 million (around Rs 2,841 crore), the report stated. EY is advising Interface's promoters.

The promoters of Interface Auto, which operates the Interface Microsystems brand, have more than five decades of experience in automotive electricals and electronics, offering customised and localised solutions to meet changing customer demands. Interface was founded in 1984 by Amit Gupta, Rakesh Kumar Gupta and Rakesh Kumar. The Gurugram-based company, which has operations in New Delhi designs, develops and manufactures products across categories such as body and comfort, safety and security, automotive LED lighting-printed circuit board assemblies and other items.

Fundamentum Partnership

Fundamentum Partnership plans to launch its third fund with a corpus of Rs 1,800 crore to Rs 2,500 crore (around $190-264 million), a Moneycontrol report said, citing sources.

Fund III will continue Fundamentum's investment strategy and focus on early growth-stage and Series B companies. However, the firm is in the planning stage and awaits regulatory approval for the new vehicle, the report noted.

The venture capital firm, founded by Infosys co-founder Nandan Nilekani and former Helion Venture Partners executive Sanjeev Aggarwal, will retain the firm's focus on sectors such as consumer internet and fintech in the new fund. It will target startups that have achieved product-market fit and are entering the scale-up phase.

Orange Health Labs

Diagnostics and healthcare platform Orange Health Labs is raising Rs 277 crore (around $29.3 million) in a Series C funding round led by Iron Pillar India, according to an Entrackr report, citing regulatory filings.

The Bengaluru-based company is raising funds after an 18-month gap and will see participation from several existing investors. According to the report, Iron Pillar will lead the round with an investment of Rs 156 crore (around $16.5 million). Crescent Enterprises will invest Rs 37.7 crore, while existing investors Bertelsmann, Accel India, and General Catalyst will participate with Rs 21.8 crore, Rs 8 crore and Rs 1.8 crore, respectively. Good Capital and Paramark Frontier Fund will also join the round, investing Rs 15.5 crore and Rs 37 crore, respectively.

The fresh round values Orange Health Labs at roughly Rs 1,950 crore (around $206 million) on a post-money basis, Entrackr estimated.

Published by HT Digital Content Services with permission from VC Circle.