October 2009
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Interest in healthcare mounts among PE, VC players

Private equity (PE) and venture capital (VC) investment in hospitals may surpass that in clinical research and drug manufacturing sectors, as hospitals currently offer more assured returns with lesser risks, is the feeling of informed observers. The investors’ interest is not confined to corporate hospitals in large cities. They are also acquiring controlling stakes in small hospitals across the country. Parvez Ahmed, CEO of the Delhi-based Max Healthcare hospital chain, says there has been tremendous increase in PE interest in healthcare investments recently. “This has become very visible in the last five to six months. They have begun to understand the potential in seeing healthcare as a long-term investment.” […]

PE investments set to flood power sector

India’s power sector will be a key destination for private equity (PE) players to park their money, with close to $1.64 billion worth of infrastructure funds, mainly in power, awaiting their launch. According to industry experts, once the liquidity situation improves globally, the sector will see good investment momentum. This is despite the fact that PE investment in the power generation sector dropped by around 80 per cent between April and September 2009, to $157 million (around Rs 770 crore) from $902 million (Rs 4,419 crore) a year earlier. The number of deals also dropped to six from 17. […]

Petronet to buy 10% in Dahej project

Petronet LNG is all set to pick up a 10 per cent equity stake in ONGC Petro Additions Ltd (Opal). The ONGC-promoted Opal is setting up a Rs 12,440-crore petrochemical complex in a special economic zone (SEZ) at Dahej. The deal size is estimated to be about Rs 400 crore, with the project having a debt-equity ratio of 2.55:1, according to sources. Petronet LNG MD & CEO P Dasgupta said: “We have got approval from the board to pick up a 10 per cent stake in Opal.” ONGC holds a controlling stake of 26 per cent in Opal, Gas Authority of India Ltd holds 19 per cent and Gujarat State Petroleum Corporation has a 5 per cent equity stake. OPAL is aiming to hit the capital markets in 2011 by offering 20 per cent equity. […]

Murthy to be venture capitalist

One of India's most successful entrepreneurs is turning into a venture capitalist (VC). Infosys Technologies' co-founder and chief mentor N R Narayana Murthy, on Thursday, sold shares worth Rs 180 crore to start a venture capital firm that would fund start-ups mainly in India. The idea is to encourage young entrepreneurs with brilliant ideas. The VC will invest in start-ups operating in the areas of basic healthcare, education and nutrition. In a reversal of roles, in deciding to become a VC, Murthy is following in the footsteps of his daughter Akshata who was until recently a VC based out of Bay Area in Silicon Valley operating in the clean tech space. Until her marriage to Rishi Sunak in August, she was a senior associate at Siderian Ventures. […]