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HDFC to sell shrs to Citi, Carlyle for $767mln

India's Housing Development Finance Corp. decided on Friday to sell shares to private equity firm Carlyle Group and Citigroup, joining other firms seeking funds to meet robust demand in India.

HDFC, India's largest mortgage firm, will sell 18 million shares, … [...]

Suzlon wins REpower

Another feather in the cap of India Inc, after the recent big-bang foreign deals of the Tatas, Birlas and Mallya, it is now the turn of Suzlon, the world's largest wind power company, to clinch a deal. The wind energy … [...]

Reliance invests in US based VC fund

In a rather tactical move, Reliance Life Sciences (RLS) has invested an undisclosed amount in MPM Capital, a US-based global investment management firm focused solely on healthcare investing. After its first investment in a venture capital fund, Reliance has become a limited partner in MPM Capital's newest fund, MPM BioVentures IV. [...]

India's Suzlon set to acquire REpower after Areva drops out

Indian windpower generator Suzlon Energy said Friday it was set to acquire Germany's REpower after reaching an agreement to end a bidding war with French nuclear energy company Areva. “We are delighted with the development,” Suzlon's chairman and managing director, Tulsi Tanti, said in a statement on the company's website. [...]

Coke set to buy Glaceau for $4.2 bln: NYT

The directors of Coca-Cola Co.  have approved the purchase of vitamin water maker Glaceau for $4.2 billion in cash and Coke stock, the New York Times reported on its Web site on Friday, citing an executive involved in the talks…. [...]

True potential of PE yet to be unleashed in India

The growth of private equity (PE) as a separate asset class across the globe in the last few years has been remarkable and highly discussed at various investment opportunity forums. These PE funds were able to successfully attract huge amount of capital from investors such as pension funds, insurance funds, universities, foundations and other investors who were looking for new avenues for investment. Many attribute the success of this new asset class to strong global liquidity and stability witnessed in the world economy. The growth of private equity has reached such a stage where it constitutes a significant portion of global mergers and acquisitions (M&A). In 2006, deal values of global M&A were reported around $3.7 trillion, out of which 25% of the amount was funded through PE. In the earlier years, PE contribution to the total M&A activity constituted hardly 10% of all the M&A deals. These figures speak out the dramatic change this industry has undergone in the last few years. [...]

Global investors line up for microfinance pie

Grameen Bank’s success story and the growth of microfinance institutions have captured the imagination of overseas investors of various kinds. After SKS Microfinance and Share Microfin, Spandana and Basix are the next set of microfinance institutions to be approached by foreign investors willing to infuse capital. Quebec-based co-operative bank Desjardins and Oiko Credit of the Netherlands figure among the list of investors. [...]

Evolvence India Fund announces US$ 20 million investment into JM Financial India Fund

Evolvence India Fund, (EIF), an established private equity fund of funds focusing on growth capital in India, has announced an investment of US$ 20 million into JM Financial India Fund, a corporate private equity fund sponsored by JM Financial Ltd, a dominant financial services group, and lead investor, Old Lane Partners, based in the U.S. [...]

Entrepreneurial culture is the key

Though a relatively young industry, the Indian private equity (PE) industry is witnessing an unprecedented growth on the back of a growing economy. Currently one of the fastest growing markets in the world, the Indian PE industry, which took off with the IT and outsourcing boom, is now witnessing large investments across various sectors – manufacturing, engineering, services, lifesciences, retail and infrastructure. [...]