November 2009
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Milestone Capital to raise $250 mn

Private equity (PE) firm Milestone Capital is looking to raise a $250 million (about Rs 1,175 crore) offshore fund independently or jointly with Delhi-based Religare, its existing partner in a fund that invests in the healthcare and education space in India, an industry executive, familiar with the matter, said on conditions of anonymity. The new fund will raise money from the overseas markets including the US, Europe, and the Middle East. At present, Religare Group and Milestone have a 50:50 joint venture (JV) fund, Religare Milestone, with a corpus of Rs 600 crore. The fund focuses on local companies in tier II and tier III cities in the education and healthcare space. The fund has already invested Rs 25 crore in test preparation firm IMS Learning Resources and is also in talks to invest similar amounts in 2-3 hospitals in the country. […]

SAIC likely to pick 50% in GM India, join board too

Shanghai Automotive Industry Corporation (SAIC) is likely to pick up a 50% stake in General Motors India to form an alliance that will assemble SAIC’s light trucks in India and source components from China’s No 1 carmaker. SAIC may also be offered a position on the GM India (GMI) board, said a person with direct knowledge of the deal, which will give the Chinese firm a foothold in the second fastest growing carmarket in the world. He, however , did not divulge the financial details of the transaction. […]

India's M&A, PE deal activity to heat up

Driven by improved liquidity and business confidence, mergers and acquisitions (M&A) as well as private equity (PE) activities in the country are showing signs of recovery and the deal space is likely to see an uptrend in the coming months, experts said. “The optimistic outlook of the global markets is now reflecting on the transactions landscape of the country. The current quarter has set the ground for substantial recovery in the Indian transactions market driven by easy liquidity and increasing investors appetite,” global consultancy firm Ernst & Young National Director and Partner Transaction Advisory Services Ranjan Biswas said. […]