October 2010
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KKR buys 9% in IPO-bound Avantha Power for Rs 217 cr

The US-based Kohlberg Kravis & Roberts (KKR), one of the leading global private equity firms, has picked up 9% stake in Avantha Power & Infrastructure (APIL) for Rs 217 crore. APIL, the power venture of Avantha Group, has issued 6.4-crore equity shares at Rs 34 per share to the PE firm, an investment banker familiar with transaction said. “At this price, the transaction has valued the company at Rs 2,450 crore,” he added. APIL is in the midst of entering the capital market to mop up Rs 1,250 crore through an initial public offer (IPO). The divestment to KKR is part of the pre-IPO placement, the official said. APIL spokespersons refused to comment as existing guidelines do not allow a company to comment if it is in the midst of raising fund through an IPO. A KKR official also declined comment. This is the fourth investment by KKR, which has so far put in nearly $1 billion in the previous three transactions, namely; Aricent, a niche technology services company it acquired in 2006, Cafe Coffee Day and Dalmia Cement […]

Motilal Oswal picks 49.9% stake in Godrej Buildwell

Motilal Oswal Private Equity Advisors has invested around Rs 45-crore in Godrej Buildwell, a SPV floated by Godrej Properties, and plans to invest another Rs 5-crore soon for a 49.9 per cent equity stake in the firm. Godrej Buildwell would use the fund to develop a high-end residential project at Hebbal in Bangalore. “This is our first project with Godrej Properties and we are looking at more such opportunities across the country. We also believe that the project will be one of its kind combining synergies of project development experience and market knowledge of both the firms,” Motilal Oswal PE's Director (Real Estate) Harvesp Mehta said in a release here today. The project is being developed along the 'golden corridor' of Hebbal and Devanahalli, an area slated to become the next IT hub. It has an easy access to the six-lane Golden Quadrilateral highway, which ensures excellent connectivity to the international airport and the city. […]

Sequoia Capital Invests INR700 Million In Celon Laboratories

Sequoia Capital India said Thursday it has invested INR700 million in Celon Laboratories Ltd. to help the biopharmaceutical company set up manufacturing facilities and strengthen marketing activities. Sandeep Singhal, managing director of Sequoia Capital India, will join the board of Celon Labs, the venture capital firm said in a statement. Celon Laboratories is expected to have annual revenue of more than INR1 billion in the current fiscal year through March, it added. […]

Trimax gets Rs 45 crore funding from Zephyr

Private equity firm, Zephyr Management has invested Rs 45 crore in Trimax IT Infrastructure and Services through its Indian arm Zephyr Peacock India Funds, for an undisclosed minority stake. “Over the next six months, we plan to use this investment to strengthen our team by adding 1,000 more personnel, thus taking the total count of employees to 3,000, and to expand operations” said Surya Prakash Madrecha, Chairman and Managing Director, Trimax. Trimax claimed it grew 61 percent in sales during FY2009-10 and its profits increased 84 percent. “We expect Trimax to grow faster than 40 percent over the next two years. More importantly, the earnings will grow faster than revenues because margins are getting better. Its EBIDTA is increasing by 50 percent,” said Mukul Gulati, Managing Director, Zephyr. […]