March 2008
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Cyber Media acquires TDA Group, California

CyberMedia, South Asia`s first and largest specialty media house with a strong presence in media services acquired the TDA Group, Inc., a California-based integrated marketing communications and custom publishing company, in a strategic move to expand the services business of the company. TDA Group Inc., with a strong track record of over 20 years, provides a wide range of value added services to an A-list of high-tech clients including several of the global leaders in the IT industry. Services provided by TDA include marketing consulting, content development, web and graphic design. TDA Group`s products encompass both print and online offerings and include magazines, newsletters, collateral, identity, customer reference programs, white papers, direct mail and websites. The TDA Group posted revenues exceeding USD 5 million in the year ending December 2007 with strong year over year growth at both the top and bottom lines and strong prospects in the current year. […]

Blackstone buys stake in Titagarh at 672 rupee/shr

Private equity firm Blackstone has bought a minority stake in Titagarh Wagons for 672 rupees a share in a pre-IPO placement, The Economic Times said on Thursday, without attributing it to a source. Titagarh Wagons will offer 2.38 million shares in the IPO. The price band is expected to be announced in a couple of days, the paper said. Blackstone is the fifth investor in Titagarh Wagons after GE Capital, JP Morgan, 2i Capital and ChrysCapital, the paper added. Titagarh's Managing Director Umesh Chowdhary declined to talk about the deal, the paper said. Officials at Blackstone and Titagarh could not be reached for comment immediately. ( Reuters) […]

Allied Digital to acquire majority stake in Digicomp Solutions

Allied Digital Services plans to acquire a majority stake in Bangalore-based IT solutions and maintenance company, Digicomp Solutions. The company will buy existing equity shares of Digicomp and will also subscribe to fresh equity shares of Digicomp for Rs 20 crore. The remaining 49% in Digicomp will be held by five partners. Mumbai-based, Allied Digital Services Ltd. operates as an information technology (IT) infrastructure management and technical support services outsourcing company in India. The company has reported a 133% increase in net profit at Rs 10.18 crore for the quarter to Sep. 2007. Sales increased by 158% to Rs 708.1 million.(Stockwatch) […]

Nicholas Piramal may offer research arm stake to PEs

Mumbai-based drug major Nicholas Piramal India (NPIL) is in talks with private equity funds for the sale of a ‘small’ stake in its research company, to be soon renamed Piramal Life Sciences, company’s top officials said on Tuesday. “We will get additional funding within one-year of listing of the company,” said Piramal group chairman Ajay Piramal. “We have been approached by several PE funds, but this is still early days.” Piramal Life Sciences will be listed in India in the first or second week of June. The company is seeking funds for its recently spun-off research company to mitigate the risks and costs involve in new drug development. The move may also allow the company to license out its new molecules at a later stage of development and, therefore, extract more value from its research. “For molecules targeted at niche therapeutic segments that typically require limited clinical trials, we would complete clinical trials and market the drug ourselves in certain countries,” said Mr Piramal. “But for drugs developed to treat common diseases like metabolic disorders, at a certain stage of clinical development, we will seek an outlicensing partner.” […]

Alok Industries acquires 50% stake in Ashford Infotech

Alok Industries, India's leading garment exporter, has acquired 50% stake in Ashford Infotech, a part of the Ashford Group, through a wholly owned subsidiary, Alok Infrastructure for the joint development of realty projects. The company has reported 32% increase in net profit at Rs 42.97 crore for the quarter ended September 2007. Sales increased by 11% to Rs 464.78 crore.(Stockwatch) […]

L&T and PE funds eye stake in Tebma shipyard

Enamoured by the growth in the ship-building industry, engineering firm Larsen & Tourbo, shipping company Great Offshore and private equity funds Blackstone, Abraaj Capital and Apax Partners are eyeing a stake in the south-based Tebma Shipyards. Tebma Shipyards is India’s third largest private ship-building firm after ABG and Bharati Shipyard. Owned largely by ICICI Venture, Tebma, as part of expansion strategy, plans to build a facility in West Bengal. The project, spread across 150 acres, entails a cost of Rs 500 crore ($125 million). Sources say the company plans to raise this amount through a mix of equity and debt. Various parties, including strategic and private equity funds, have approached ICICI Venture to invest in Tebma Shipyards, as rapid growth in the domestic sector continues to lure firms. Ship-building players earn operating margins of 20-25% helped by 30% export subsidy. […]