New Delhi, Aug. 31 -- Life Insurance Corporation of India (LIC) may increase its stake in the National Stock Exchange (NSE) after the latter's public issue.

Meanwhile, Country Delight's parent has begun early-stage preparations for a stock market listing, Megha Engineering's key shareholder is looking to tap private credit funds to buy out a relative's stake, and North India-based Yatharth Hospitals has drawn interest from private equity firm Advent International and Blackstone-backed Aster DM, according to separate media reports.

LIC-NSE

Life Insurance Corporation of India, which holds a 10.72% stake in the National Stock Exchange, may increase its holding following the exchange's upcoming initial public offering (IPO), according to a BusinessLine interview with managing director and CEO R Doraiswamy.

Doraiswamy said the insurer has already decided not to participate as a seller in the proposed offer-for-sale (OFS).

He added that LIC will evaluate the IPO process and pricing before deciding whether to enhance its stake. According to Doraiswamy, LIC's long-duration liabilities and large annuity book position it as a natural long-term investor and market stabilizer.

The decision to retain its current holding signals LIC's confidence in the long-term value of the bourse. The insurer also intends to utilize its size to support a counter-cyclical investment approach to equity investments based on market conditions and valuations.

Country Delight

Beejapuri Dairy Pvt Ltd, the parent company of Country Delight, has commenced early-stage preparations for an IPO in India, according to a Mint report, which cited people familiar with the matter.

The subscription-based dairy and fresh produce platform is weighing a listing within the next 12-18 months and aims to raise $200-300 million (Rs 1,903-2,855 crore).

The Temasek-backed company will begin informal discussions with investment bankers over the next one week to 10 days to select lead managers for the proposed share sale.

The move comes as the delivery platform seeks to capitalize on its subscription-led business model. While the timeline is set for the medium term, the specific structure of the offering remains under development as the company engages with potential advisors.

Megha Engineering

A key shareholder in Megha Engineering & Infrastructures Ltd is seeking to raise around $700 million from global private credit investors to fund a stake buyout, according to a Bloomberg report.

PV Krishna Reddy, who owns 57% of the firm, intends to use the capital to buy out the 43% stake held by his uncle and executive chairman Pamireddy Pitchi Reddy.

According to the report, a consortium of lenders including Davidson Kempner Capital Management, Elham Credit Partners, and Varde Partners has begun preliminary work on the financing structure.

If completed, the deal would rank among India's largest private credit transactions this year and would be just under half the size of the $1.6 billion private credit financing raised by the Shapoorji Pallonji Group last month.

Yatharth Hospitals

Advent International and Blackstone-backed Aster DM Quality Care are negotiating to acquire a controlling stake in Yatharth Hospitals and Trauma Care Services, according to a report in The Economic Times, citing people familiar with the matter.

Due diligence for the North India-focussed specialty hospital chain is reportedly nearing completion.

A successful deal would trigger a mandatory open offer for an additional 26% stake, potentially resulting in the acquirer owning more than three-fourths of the company.

However, Yatharth Hospitals denied any sale discussions, while Blackstone said it is not evaluating such a deal, according to the report.

Separately, Yatharth continues to pursue a capacity expansion to 5,000 beds over the next three years across its facilities in Noida, Greater Noida, Jhansi-Orchha, and Faridabad.

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