NTT Communications Corp., a unit of Japan’s Nippon Telegraph and Telephone Corp, will buy a 74% stake in Indian data centre services provider Netmagic Solutions Pvt. Ltd. While financial details of the transaction were not disclosed, Telecompaper, an independent research and publishing firm focused on the telecom industry, pegged the transaction to be around 10 billion Japanese yen (Rs.642 crore). A person directly involved with the deal confirmed the transaction value. He spoke on condition of anonymity. Netmagic operates seven [...]
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Ahmedabad-based National Multi Commodity Exchange (NMCE) is in talks with five private equity players and large private banks to divest part of shareholders’ equity in the exchange, to meet the regulatory guidelines before the extended deadline of March 31, 2012. Currently, the exchange has an equity share capital of Rs 19.12 crore, which, according to revised guidelines, should be raised to at least Rs 50 crore before March 31. Also, the promoters’ stake needs to be brought down to 26 [...] IOT Infrastructure & Energy Services Ltd (IOT) announced on Monday that Rs 100 crore have been invested in the company by India Infrastructure Development Fund (IIDF), a private equity fund managed by UTI Capital. IOT is a joint venture between Indian Oil Corporation (IOC) and Oiltanking GmbH of Germany. The fresh investment will help IOT meet its capital requirements for various projects including the over 1.4 million kilolitre petroleum product facility at IOC Paradip refinery and the proposed 1.92 lakh [...] GMR Infrastructure is understood to be giving final touches to raise close to Rs 600 crore through the private equity (PE) route to fund expansion of its highways business. Investment bankers close to the company indicate a deal is expected to be signed within three weeks. This will facilitate financial closure for the Rs 7,500-crore highway project the Bangalore-based firm won in October, for a 555-km stretch from Ahmedabad to Kishangarh, Rajasthan (about 30 km from Ajmer). The company, according [...] Ansal Properties and Infrastructure is likely to ink a `300 crore private equity (PE) deal soon. It would most likely be a project-level deal for one of the properties in Greater Noida, said a source. The company has 19 integrated townships in northern India with maximum saleable area in the residential segment. The real estate developer has revised its pre-sales guidance for this fiscal by 4-5 million square feet (msf) to 21 msf on the back of robust traction [...] The turmoil in microfinance and concerns about corporate governance inflicted collateral damage on social enterprises last year, making venture capital investors wary of putting their money in businesses aimed at low-income communities. The year 2011 was a generally good year for venture capital investing, but social enterprises were the exception because of their perceived connection to microfinance, an industry whose reputation has suffered severe damage in the past few months. “There is no doubt the microfinance slowdown has had a [...] Defying the gloomy economic scenario, over half a dozen overseas private equity funds are set to pump in R3,500 crore ($700 million) in diverse sectors in India including entertainment and leisure, energy conservation, microfinance, antenna manufacturing and surgical instruments, among others. The deals will materialise within the next fortnight or two, sources in the investment banking sector said. This comes despite the slowdown in PE investments in the last three months of 2011. While Mauritius-based PE fund APF-II is looking [...] Italian luxury brand Canali has picked up 51% stake to form a joint venture with its Indian franchise, Genesis Luxury Fashion, two persons familiar with the matter said. Though Canali had the option to set up a wholly-owned subsidiary, following the government’s decision last month to allow 100% foreign direct investment in single-brand retail, it has opted to stick to the previous ceiling. A higher shareholding would have required it to mandatorily source 30% of its products from Indian small [...] Personal care products maker Godrej Consumer Ltd had decided to sell a 4.9% stake to Baytree Investments, an arm of Singapore-based investment firm Temasek, to raise Rs 685 crore for acquisitions and reduce debts. Baytree will subscribe over 1.67 crore shares at Rs 410 a share on a preferential allotment basis, subject to the signing of a share subscription agreement and shareholders approval. “The fund will be used for further acquisitions as well as reduce debt in the company,” chairman [...] The stake is likely to fetch the country’s second-largest asset management company around $300 million (Rs 1,511 crore, at 50.37 against the dollar), valuing the business at a $1.2 billion (Rs 6,044 crore). In December, the average assets under management (AUM) stood at Rs 84,299 crore (about $17 billion). The valuation of the company is 7.11 per cent of total assets. R-Cap officials declined to comment on the issue. This would be the second stake sale in the company. In [...] |
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