December 2007
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Axon Infotech acquires 51% stake of Quasar Innovations

Axon Infotech announced that the company acquired 51% stake in Bangalore-based Quasar Innovations. The company mobilized funds through unsecured loans and invested the same for the purpose of acquisition of 51% stake. Firstcall India Equity Advisors organized the funds for the company for acquiring 51% stake. never heard of it before Bangalore-based Quasar provides OEN & Network operators with device engineering from concept to finish. Quasar works in applications to create flawless, high performance terminal devices with shortened time to market and robust components. Quasar`s focus is untethered wireless devices, based on its years of experience with wireless telecom (GSM / GPRS / IXRTT, CDMA 2000, UMTS), wireless networking (802.11 a, b and c [WiFi]) and short range wireless (Bluetooth, IR) domains. The company is currently involved in building a range of cutting-edge GPRS handsets for Fortune 1000 Company`s acknowledged widely as among the world`s fastest growing telecommunications service providers. […]

Jacob Cap, JM Fin eye 10% in Sayaji Hotels

Jacob Ballas Capital India and JM Financial Equity Fund are in talks to pick up stakes in Indore-based 3-star hotel and restaurant chain — Sayaji Hotels. Sources said the funds are looking to pick up around 10% stake in the publicly-listed company and the deal is expected to be finalised by the month-end. When contacted, Sayaji Hotels managing director Sajid Dhanani confirmed that his company had been approached by different funds. “Nothing has been firmed up as yet,” he added. Sources said the company is raising funds by issuing fresh equity. However, the price at which the equity would be issued could not be ascertained. JM Financial would be investing through JM Financial Equity Fund, while Jacob Ballas Capital India is an NBFC focussing on private equity advisory services and has two India-focused private equity funds. Sayaji Hotels scrip closed at Rs 64, up 1.5% from the previous close on BSE on Tuesday. Currently, promoters hold 48.4% stake, while public holding stands at about 51.6%, of which Clearwater Partners holds around 14%. […]

Global PE investors to increase exposure to Indian market

Global private equity investors are expected to increase their exposure to India, say fund managers. Many new funds are also looking to tap the growth opportunities. The UK-based Actis Capital plans to launch a $1 billion India infrastructure fund shortly. The fund already has $700 million investments in this country. The new fund would be launched early next year, Mr Steven Enderby, Partner South Asia of Actis LLP, said at the sidelines of a conference organised by the Asia Private Equity and Venture Forum here on Tuesday. Another overseas private equity investor, Evolvence Advisory Service will be launching a $300 million second India dedicated ‘fund of funds.’ It already has invested $400 million in India through “Evolvence India Fund.” The fund has seen a return of 80 per cent in the past three years, said Mr Jay V. Jegannathan, Managing Director. The fund has exposure in areas such as real estate, healthcare and infrastructure. […]

Ybrant buys Israeli firm for $13 mn

Hyderabad-based e-marketing solutions company, Ybrant Technologies, is acquiring Israeli online media solutions company, Oridian, for $13 million (approximately Rs 52 crore). A definitive agreement has been signed in this regard, which is yet to get the final approval from Oridian’s shareholders. While $1 million has been paid to a trust account of Oridian for the definitive agreement, $2.5 million has to be paid at the time of closing the deal in a week. Around $6 million would be released in 90 days from the date of closure and the remaining in nine months from then, M Suresh Reddy, chairman and managing director of Ybrant, said here on Tuesday. […]