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Koutons Retail eyes 51% stake in Touchwood International

The board of directors of Koutons Retail India, at its meeting held on Jan. 08, 2008, decided to invest up to Rs 120 million for acquiring 51% or more stake in Touchwood International through its subsidiary DBG Retail Holdings. The company will finance the aforesaid acquisition via a part of IPO proceeds meant for general corporate purposes or out of the internal accrual of the company. Touchwood International is the owner of `upper class` brand, which has presence in the ladies and gents segment.(My Iris) [...]

Private equity players step up ‘green’ investments

Private equity players and big-ticket investors are making a beeline to tap investment opportunities in ‘green projects’. IFC, the private sector lending arm of the World Bank Group, on Tuesday announced it will make its first investment in a third-party environment-focused private equity fund. Its investment of up to €15 million in a fund handled by French management company Aloe Private Equity would be targeted specifically at companies, primarily in India, besides China, which focus on clean and renewable energy, waste recycling, emissions controls, and eco-processes. Through its involvement in this fund, IFC would provide support to smaller businesses in the clean energy and environment sectors that are unlikely to receive funding from mainstream private equity groups. Swedfund, a risk capital company owned by the Swedish Government, and Proparco, the private sector financing arm of the French Development Agency, would invest €8 million and €5 million, respectively, in the new fund alongside IFC. [...]

SBI, ICICI buy 3% in Jaiprakash Power Ventures

State Bank of India (SBI) and ICICI Bank have together acquired 3% in Jaiprakash Power Ventures (JPVL), a wholly-owned subsidiary of Jaiprakash Associates (JAL), for Rs 400 crore in first of two private placements before its initial public offer (IPO). This would be followed by another pre-IPO placement before the firm hits the market with a public offer, together raising Rs 3,500 crore.The company will dilute another 17% through the private placement and IPO, according to a person close to the development. Of this, the pre-IPO deal is expected to be for about 3-4% of the equity, while the rest would be through the public offer. SBI and ICICI are supposed to have paid a little over Rs 230 per share. JPVL now has a paid-up capital base of Rs 541 crore, which includes 3% stake of the two banks. JPVL is looking at a valuation of $5.5 billion, post-IPO. Following the IPO, the shareholding of Jaypee group in JPVL would come down to 80%. [...]

SBI picks up 2% stake in Mahindra Holidays

State Bank of India has picked up a 2 per cent stake in Mahindra Holidays and Resorts India Ltd (MHRIL) for about Rs 80 crore even as the company is preparing to come out with an IPO. The equity shares would e subject to lock-in after the IPO as per the SEBI regulations. MHRIL, a leisure hospitality provider offering family holidays under the brand name ‘Club Mahindra Holidays’ and a subsidiary of Mahindra Holdings and Finance Ltd (a wholly-owned subsidiary of Mahindra & Mahindra ), which filed a draft red herring prospectus with Securities and Exchange Board of India (SEBI) last month, is planning an IPO in the first quarter of the year. Its IPO of 10,719,347 equity shares of Rs 10 each for cash is at a price to be decided through a 100 per cent book-building process. [...]