New Delhi, Aug. 4 -- Generic drugmaker Leeford Healthcare is in advanced talks with Creador to sell a minority stake; Neo Group plans to bring in an Ambit executive to lead its investment banking business; and commercial insurance broker Prudent Insurance Brokers gears up for an initial public offering, according to separate media reports.

Leeford Healthcare

Creador is in advanced talks to acquire about a 10% stake in Ludhiana-based Leeford Healthcare, according to The Economic Times.

The Kuala Lumpur-based private equity firm is expected to invest around Rs 800 crore (around $84 million) in Leeford, valuing the generic drugmaker at Rs 8,000 crore to Rs 8,500 crore (around $900 million), according to the report, which cited sources.

Set up in 2006 and promoted by Jiwan Lal Gupta, Leeford Healthcare is a diversified pharmaceutical and wellness company with a portfolio of more than 2,000 products across prescription medicines, generic formulations, nutraceuticals, personal care and specialty therapies.

Neo Group

Wealth and asset management platform Neo Group has appointed veteran investment banker Vikas Khattar to build and lead its investment banking business, according to a Mint report citing sources.

Khattar currently is the co-head of investment banking and head of equity capital markets (ECM) and the financial services group at Ambit Capital. He will be brought in to build the Peak XV Partners backed company's merchant banking business from the bottom up, the report added.

Khattar is an alumnus of BITS Pilani and IIM Calcutta. He has over three decades of experience across DSP Merrill Lynch, Citibank, Morgan Stanley, HSBC, Jefferies and Ambit.

Prudent Insurance Brokers

Prudent Insurance Brokers has begun laying the groundwork for an IPO, according to a Moneycontrol interview with the company's joint managing director Pavanjit Singh Dhingra, who added that the insurance broker will tap the public markets when the timing is right.

The company has already reached the scale required for a listing, according to Moneycontrol, which quoted Dhingra, The company expects revenue to rise to around Rs 800 crore in FY27, up from about Rs 650 crore in the previous fiscal, the report added.

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