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PE firm to pick up 1% in Mahindra Holidays for Rs 40 cr

Mahindra Holidays & Resorts, part of $4 billion Mahindra Group, will offer 1 per cent stake in the company to Jacob Ballas India Fund through a private placement basis for a consideration of around $10.06 million (Rs 39.50 crore). The pre-IPO placement deal values the hospitality arm of automaker Mahindra & Mahindra at around Rs 4,000 crore. The equity shares to be transferred to NYLIM Jacob Ballas India Fund III, LLC, should be subject to lock-in after the Initial Public Offering as per SEBI regulations, Mahindra & Mahindra informed the Bombay Stock Exchange. New York Life Investment Management LLC (NYLIM) has a shareholding in Jacob Ballas Capital India, a non-banking finance company focused on private equity advisory services. [...]

Pvt equity funds want to buy stake in Wadia's GoAir

Wadias-promoted GoAir has been approached by various private equity players for acquisition of a minority stake, while valuing the low-cost private carrier at $400 million (about Rs 1,600 crore). Global consulting firm Ernst and Young, on behalf of other players, has approached the company and Wadias have held discussions with them, market sources said. When contacted, a spokesperson for the airline said: “E&Y has approached us on behalf of various buyers who are interested in buying a minority stake in GoAir.” [...]

Millennium invests $100 Million in India

Millennium Private Equity (MPE), an entity regulated by the Dubai Financial Services Authority (DFSA), which is the private equity arm of Millennium Finance Corporation (MFC), the leading international investment bank based in the Dubai International Financial Centre (DIFC), announced that it had established an investment structure with The Investment Corporation of Dubai (ICD) as its sole investor, to invest into an Indian telecoms tower business. MPE committed $100 Million together with other highly reputable investment firms such as Temasek Holdings, Goldman Sachs, Macquarie, AIF Capital, Citigroup and India Equity Partners out of a total investment of $1 Billion into Bharti Infratel (Infratel), a subsidiary of Bharti Airtel Limited, the leading telecoms player in India. [...]