New Delhi, Aug. 10 -- Warburg Pincus is set to buy cod liver oil maker Universal NutriScience; automotive components maker Pricol is looking to divest its smart mobility technology business; Steel Authority of India Ltd is looking to raise capital through a follow-on public offer; and AI startups MStack and Simplismart are in talks to raise funding, according to separate media reports.

Warburg Pincus-Universal NutriScience

Private equity major Warburg Pincus has emerged as the frontrunner to acquire Universal NutriScience, the maker of cod liver oil capsule brand Seacod, according to The Economic Times.

Universal NutriScience is being valued at Rs 2,700-2,800 crore ($283-293 million) in the proposed deal amid growing private equity interest in supplement-focussed companies, the report said, citing people familiar with the matter.

UNS' existing investors, including Kedaara Capital, the founding Tannan family and minority shareholders, will likely exit via the transaction.

The deal would mark Warburg Pincus' fourth acquisition in India's healthcare sector in as many months.

Pricol

Coimbatore-based automotive components maker Pricol Ltd plans to spin off its driver information and connected vehicle solutions (DICVS) business, according to a Mint report.

The unit has drawn interest from global private equity firms. US-headquartered Advent International and Sweden-based EQT are among the PE firms evaluating an investment in the listed company's demerged business, the report said, citing people familiar with the matter.

The proposed transaction is currently undergoing due diligence. A capital raise will help the company's inorganic expansion plans, with the deal potentially valuing the business at around Rs 5,000 crore.

Veda Capital Advisors is advising Pricol's promoters on the transaction.

Steel Authority of India

Steel Authority of India Ltd (SAIL) is seeking to raise capital through a fresh share sale as the public sector steelmaker looks to fund its expansion plans, according to a Moneycontrol report.

SAIL has approached the finance ministry's Department of Investment and Public Asset Management (DIPAM) for a 5% follow-on public offer (FPO) this fiscal year, the report said, citing people familiar with the matter.

The company seeks to raise expansion capital through the FPO route, unlike an offer-for-sale (OFS), in which proceeds go to the government.

MStack

MStack AI is in advanced talks to raise at least $30 million (Rs 285 crore) in a fresh funding round from new and existing investors, according to a Moneycontrol report.

The AI-native chemical research and development (R&D) and manufacturing startup is being valued at around $230 million pre-money in the talks, the report said, citing people familiar with the matter.

Existing investors Alpha Wave and Lightspeed are likely to contribute a significant portion of the round, while Prosperity7 Ventures is in talks to join as a new investor with a smaller cheque, the report said.

The round size could increase to $40-50 million as discussions with investors progress and interest in the company firms up. MStack's post-money valuation could be between $260 million and $280 million, the report added.

Simplismart

Generative AI startup Simplismart is looking to raise $50 million in a fresh round and is in talks with Peak XV Partners for a likely investment of around $30 million, according to a Moneycontrol report.

Chip giant Nvidia is also in talks with the company and could participate in the round, the report said, citing people familiar with the matter.

Accel, Dallas Venture Capital, Shastra VC and others are expected to contribute the remaining capital for the planned $50 million round, according to the report.

Simplismart is being valued at around $120-140 million as negotiations continue, the report said.

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