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Air Deccan eyes $100 mn via stake sale

Air Deccan, India's largest budget airline, plans to raise $100 mn by selling up to 26 per cent to a professional investor, Managing Director G.R. Gopinath said Tuesday. The company has appointed investment bank Edelweiss Capital to evaluate at least three potential private investors, Gopinath told AFP in Bangalore, ruling out a strategic sale to billionaire brewer Vijay Mallya's Kingfisher Airlines. “We are taking time to find out who we should go to bed with,” the 55-year-old entrepreneur said, adding a final decision that could involve a sale to more than one player will be made in two weeks to a month. [...]

Yatra Capital buys 49 pct in Indian real estate company for 21.6 mln eur

Euronext-listed Yatra Capital Ltd said it has bought a 49 pct stake in a real estate joint venture development company in India for 21.6 mln eur. This is Yatra Capital's first investment out of the 100 mln eur in funds that it raised when it listed on Euronext Amsterdam in December last year. The company said the joint venture with India's Kolte Patil Developers Ltd will initially focus on Pune city, near India's financial capital Mumbai. The company will initially develop three separate residential projects in Pune. [...]

Asia Alternatives Announces Final Closing of US $515 Million Fund

Asia Alternatives, the largest independent, Asian private equity fund-of-funds, today announced the final close of Asia Alternatives Capital Partners, LP (the “Fund”), with US $515 million of committed capital. The Fund closed meaningfully above its original target of $350 million … [...]

India Infoline scraps credit arm sale to Merrill Lynch

India Infoline which signed an agreement last year with DSP Merill Lynch to sell its shareholding in subsidiary Moneyline Credit Pvt Ltd (formerly Khambhat Investment & Trading Company Private Limited), has called off the deal citing prolonged delays in completing the transaction. According to a regulatory filings with Bombay Stock Exchange, India Infoline said “owing to prolonged delays in finalisation of the transaction and changed business plans, the MoU was mutually terminated with immediate effect”. [...]

Reed Elsevier to pick up ICICI Ventures’ stake in Infomedia

ICICI Ventures, the country’s largest venture capital firm, is likely to sell its entire 63.3% stake in the publishing company, Infomedia, which is valued around Rs 235 crore at the current market price.

Highly placed sources said ICICI Ventures was … [...]

Cadila to complete buyout of Sarabhai joint venture

Zydus group’s Cadila Healthcare has entered into a share purchase agreement with Ambalal Sarabhai Enterprises to acquire the remaining 50% holding in their JV company, Sarabhai Zydus Animal Health. This acquisition will make the company a 100% subsidiary of Cadila … [...]

SBI MF to foray into PE business

Soon after State Bank of India chairman OP Bhatt's announcement of the bank's plan to venture into the private equity (PE) business, SBI Mutual Fund has followed suit. SBI MF said it is venturing into the PE sphere by earmarking … [...]

Speculation rife about HDFC exiting from Intelenet

HDFC limited may be looking at selling off its stake in its joint venture, Intelenet Global Services, a leading Business Process Outsourcing (BPO) Company.

HDFC owns a 50 per cent stake in the venture while the other 50 per cent … [...]

Oak Investment plans $200m retail fund

The US-based venture fund Oak Investment Partners is entering India with a $200-million corpus for the retail sector. It is perhaps the first time that any foreign venture capitalist has shown interest to set up a dedicated fund exclusively for … [...]