New Delhi, June 4 -- Several private equity firms are in race to buy a stake in hospital chain Cloudnine while content platform Kuku FM has confidentially filed for an initial public offering and venture capital firm Peak XV Partners is looking to invest in Ringg AI, according to separate media reports. Meanwhile, Carlsberg is moving forward with its plan to list its India unit, another report said.

Cloudnine

PE firms Warburg Pincus, KKR, TPG Capital, Advent International, CVC Capital Partners, Permira, and Kedaara Capital are vying to acquire a 25% stake in Cloudnine, The Economic Times reported, citing people familiar with the matter.

The deal is expected to value the company around Rs 10,000 crore, or a little more than $1 billion, the report said, adding that existing investor True North would exit the maternity and pediatric hospital chain completely.

Carlsberg

Danish brewer Carlsberg has added four directors to its Indian subsidiary's board and converted it to a public limited entity, as it prepares for the stock market debut of the local unit, The Economic Times reported.

The brewer is aiming for a valuation of approximately Rs 30,000-35,000 crore for the India unit, the report said.

Kuku FM

Audio and video content platform Kuku FM has confidentially filed its draft red herring prospectus with the Securities and Exchange Board of India for an IPO worth around Rs 3,500 crore, The Economic Times reported.

According to the report, the Bengaluru-based company could target a valuation of around Rs 8,000 crore in the IPO. It added that the IPO is likely to comprise a mix of fresh issue and an offer-for-sale.

Peak XV Partners

VC firm Peak XV is in talks to lead a $10 million round in Bengaluru-based Ringg AI, The Economic Times reported, citing sources.

Capital2B, backed by Info Edge and Temasek, is also likely to join the new round, the report said.

Ringg AI builds voice agents for enterprises and raised $5.5 million earlier this year from Arkam Ventures, Capital2B and others.

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