February 2010
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M&A activity in India more than doubled to $3 bn in Jan 2010

Merger and acquisition activity in the country more than doubled in the first month of 2010 as deals worth nearly USD 3 billion (about Rs 13,950 crore) were announced amid improved signs of liquidity, a study said. According to the monthly deal report of VCEdge, a financial research provider, the M&A deal value during January 2010 stood at USD 2.8 billion, a whopping 126 per cent rise over the same period last year. In terms of deal count there was also an upward trend, as there were around 53 deals in the first month of the year, as compared to 32 deals witnessed during a year-ago period, the report added. [...]

PEs preferring China, India for investments in 2010

Private equity funds are looking at emerging markets as their investment destination in 2010, and India has emerged as the second most preferred country after China for investment, says a survey. According to a survey by global PE research firm Preqin, the Asian countries are receiving considerable investor interest, with 45 per cent of respondents saying that this region is attractive at present. Supported by strong fundraising targeted at the country for the past couple of years, China was voted as an area of interest by just over half of respondents, followed by India for which 41 per cent voted in favour, Preqin said. [...]

DAR Capital eyes 26% stake in Valuable Media

DAR Capital, promoted by non-resident Indian Arun Rangachari, will pick up 26% stake in Valuable Media Ltd (VML) for Rs 100 crore. The DAR Capital Group has already identified the media and entertainment domain as a destination for big investments. It has committed over Rs 650 crore investments on movies and cricket. VML, the Mumbai-based promoters of UFO Moviez, has sought approval of the Foreign Investment Promotion Board (FIPB) to raise Rs 100 crore from DAR Capital. Valuable Media will use the fund to launch—small mall technology (SMT)—a satellite-based digital distribution of films in smaller towns and also to push its consumer box business in India and other markets. [...]

PE investments double to $386 mn in Jan

Private equity investments in India doubled in the first month of this year, as deals worth over $386 million were announced amid improving signs of liquidity, a study says. According to the monthly deal update report of VCEdge, a financial research provider, private equity deal value in India was at $386 million in January 2010 against $191 million in January 2009. The deal volume, however, was virtually unchanged with 25 deals recorded past month, one less than what was registered in the same month last year. [...]

Idea likely to exit stake in Indus Towers

CNBC-TV18 learns that Idea Cellular, which holds 16% stake valued at USD 600-800 million in Indus Towers, is in preliminary talks to sell part or whole of its stake in the company India's top mobile operator Bharti Airtel, Vodafone Essar and Idea Cellular in late 2007 had decided to pool their resources and hived off their towers into an independent firm, Indus Towers—the world’s largest tower company with over one lakh towers. Post the joint venture Vodafone and Bharti held 42% stake each while Idea held 16%. [...]

ICICI Pru Unit To Buy 40% In Ansal Realty Project

ICICI Prudential Life Insurance said one of its investment arms may acquire 40% stake, for over Rs.100 crore, in a residential project of the Ansal API group in Ghaziabad, reports say, quoting investment banking sources, Business Standard reported. The residential project is a part of Ansal API's township project, Aquapolis. It is spread over 130 acres and has around 45 towers, with a total of 2,500 units. The project will be formed into a joint venture, in which Ansal Landmard, a group company of Ansal API, and an investment arm of ICICI Pru, will be partners, sources said. Ansal API is bringing in investors to complete the projects ahead of schedule. The projects were delayed due to slowdown in the realty sector. [...]

PNB buys control of Kazakhstan's Danabank

Punjab National Bank has bought a controlling stake in the small Kazakh lender Danabank, the two banks said on Monday. The lenders did not say how much PNB had paid for the stake. “The joint bank plans to focus on financing small and medium-sized businesses in Kazakhstan, particularly in the agricultural sector,” they said in a statement. [...]