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Frontline Ventures invested $40 million in Futura Infraprojects

Mumbai-based infrastructure and real estate firm Futura Infraprojects has offloaded 10 per cent equity stake to US-based private equity major Frontline Ventures for $40 million (Rs 160 crore). Separately, the company is planning to raise around Rs 250 crore through a public float that is expected to hit the markets by August. The company intends to use the proceeds from the private placement and the initial public offering (IPO) for its expansion plans. The company is likely to file the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in May. [...]

Goose Tech to raise $2mn VC funding

Goose Technologies Private Limited, a Hyderabad-based provider of delivery risk management solutions, plans to raise around $2-million (Rs 8 crore) venture capital fund, said founder and chief executive officer, Debasish Pattnaik. Announcing the launch of Procon, the three-year-old company’s maiden risk management solution for global delivery here on Wednesday, he said they were in talks with a couple of venture capital firms to support the development of new solutions, besides expansion of its overseas sales and marketing operations. Goose Tech, which received an early stage funding from Agnus Ventures, had spent close to two years on developing Procon that enables global enterprises to have real-time visibility and predictability of key performance indicators (KPIs) at different aggregated levels and functional areas. It has a built-in prediction engine that offers future trend of potential risk factors. Besides, it offers an advance analytical engine for risk mitigation. The per-user price of Procon is around $1,000. [...]

Bharti Airtel to dilute stake in tower biz

Bharti Airtel is planning to sell some more tower units in the Bharti group`s tower company, Bharti Infratel, reports DNA. Bharti Airtel joint managing director Akhil Gupta said that some investors, who got left out in the previous round because of its timing, would be accommodated now. The investment this time round is likely to be lower than USD 1 billion. In December 2007, global investors including Temasek Holdings, Goldman Sachs, Macquarie, Citigroup, Investment Corporation of Dubai, AIF Capital and India Equity Partners had together put in USD 1 billion in Bharti Infratel for around 8 to 10% stake. The enterprise valuation of Bharti Infratel was estimated in the range of USD 10 to USD 12.5 billion. ( My Iris) [...]