November 2007
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Matrix Partners India expands fund to $450 million

Venture capital firm Matrix Partners India on Wednesday said it has expanded its consumer services fund from $150 million to around $450 million. The firm will now make larger growth capital investments up to $30 million in consumer services business, a company press release issued said. The fund will continue to make smaller venture capital investments in early stage companies and has already invested in several companies so far. The investment team includes six investment professionals based in the city. Matrix Partners India is co-founded by Avnish Bajaj and Rishi Navani, in partnership with Matrix Partners US. […]

Diageo eyeing stake in United Spirits

Diageo Plc is in talks to buy 10-13 percent of India's United Spirits Ltd for $500-$600 million, the Economic Times reported on Monday, citing unnamed sources. United Spirits, whose enterprise value has been pegged at over $5 billion for the possible stake buy by Diageo, might be open to placing a small stake with the world's biggest alcoholic drinks group without losing management control, the daily said. Officials at United Spirits, India's top spirits maker and the world's third-biggest alcoholic drinks company, could not immediately be reached for comment on the report. […]

Indiaco Ventures acquires 20.83% stake in Laser Cosmetics Pvt Ltd

Indiaco Ventures Ltd has announced that the Company has acquired 20.83% stake in Laser Cosmetics Pvt Ltd in pursuance of authority given by the Board of Directors of the Company in the Board meeting held on October 26, 2007. The Company has also subscribed 25% in Preference Shares. All the formalities in this regard have been completed now. The Company is presently holding 1,50,000 equity shares of Rs 10/- each out of total 7,20,000 equity shares of Laser Cosmetics Pvt Ltd and 12,500 Preference Shares of Rs 100/- each out of total 50,000 preference shares of Laser Cosmetics Pvt Ltd. […]

ICICI Venture invests US $ 10 million in RG Stone Urological Research Institute

RG Stone Urological Research Institute, the super specialty urology hospital in India today announced investment of US $ 10 million in the Institute by the leading private equity firm, ICICI Venture. The group will use the funding to establish twenty new hospitals. RG Stone Urological Research Institute, a highly reputed institute for Urology, announced major plans for expansion across India. The first phase includes a super specialty hospital with state of art technology in Goa and four speciality centres in tie up with leading hospitals, which includes S K Soni Hospital, Jaipur, Kamyani Hospital, Agra , Saguna Hospital, Bangalore and Ivy Hospital , Mohali. The projects are expected to be completed by the end of December 07. The second phase, expected to be completed by September, 2008, will see the addition of fifteen centers. RG Stone Urological Research Institute will become the first institute in the country to introduce the concept of outsourcing surgical departments. The super speciality centres would be completely owned and managed by RG Stone Urological Research Institute. The centres will be equipped with Siemens Lithotripsy with ultrasound & X-Ray attachment for localization and treatment of kidney stone removal, 100 watt Holmium Laser for treating enlarged prostate and urinary stone, Nephroscope and Uretroscope from Karl Storz and Richard Wolf, Germany for complete endourology. All the modern facilities and equipments from Karl Storz and Richard Wolf will be used in performing advanced laparoscopic surgeries. Almondz Global Securities Ltd, Delhi was the financial advisor to RG Stone for the transaction. […]

M&As, PE deals total $63.5 billion till Oct

It’s a total rockfest on dealstreet. For the first 10 months of the year, the total value of mergers & acquisition (M&A) and private equity(PE) deals involving India Inc has more than doubled to a staggering $63.5 billion compared to $30.3 billion in the same period last year. While the billion-dollar strategic M&A deals hogged the limelight in the early part of this year, PE investments are leading the way in the second half. For instance, the total value of PE deals between January and October has shot up to $13.62 billion against $5.93 billion in the corresponding period last year, according to the latest dealtracker by advisory firm Grant Thornton. During the period, the volume of PE deals increased by 32% to 380 deals. This means that the average size of PE deals this year also increased from $26 million to $40 million. […]