May 2011
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IFCI funds 250 crore to Gayatri Energy Venture

Gayatri Energy Ventures owned by Gayatri Projects, raises INR 250 crore from IFCI (Industrial Finance Corporation of India) through issue of compulsory convertible debentures. The quantum of the stake that IFCI would pick post conversion is not yet disclosed, reports GEVPL announced that the fund will be used for bank rolling proposed investments in the energy domain. Since its inception in 1975, Gayatri Projects continues to put their part of efforts for the development of modern India. Starting as infrastructure to housing development now they are a company with an annual turnover of more than INR 1004 crore. […]

Tata Tech sells 13% stake for Rs 141 cr to Alpha TC, TCGF

Tata Technologies, an engineering solutions and IT product developer, on Tuesday said it has raised about Rs 141 crore by selling 13.04 per cent equity stake to Alpha TC Holdings and Tata Capital Growth Fund (TCGF)I. “With this investment (USD 30 million), we will continue to aggressively grow our business and provide our customers with better, more innovative products,” said Patrick McGoldrick, Tata Technologies Managing Director and CEO in a statement. […]

IDG invests $5 mn in Agile Financial Tech

Venture capital (VC) firm IDG Ventures India has invested $5 mn (Rs 22.15 crore) in Mumbai-based banking software product company Agile Financial Technologies. The company offers 12 products in areas of banking, insurance, micro-finance and financial inclusion. It also offers IT services support functions for its software products. Speaking to TOI, T C Meenakshisundaram , MD of IDG, said that the company would use the funds for expansions, building new products and acquisitions . He expects the company to become a $10 million revenue company this year and touch $75 mn in 3-4 years. The company has a large focus on the Middle East and Africa (MEA) markets. They will now look to expand their markets in India, South East Asia, and Central and Eastern Europe. […]

Mukesh Ambani –DE Shaw Likely To Set Up India’s Largest Private Bank

Mukesh Ambani of Reliance Industries Limited (RIL), in association with America based D E Shaw group, one of world’s largest financial institutions, is set to launch what is being termed as India’s largest private sector bank so far; also being dubbed as the ‘The Bank of Ambani.’ Following its tie up world’s leading hedge fund, RIL was armed to make its move into India’s booming financial services sector. The idea was to channelise D E Shaw’s technical and investment expertise in the field of financial services by means of RIL’s extensive market network and operational excellence, marking a strong foray by Reliance Industries into the sector. […]

Sabre Partners to invest Rs 50 cr in SRL in pre-IPO deal

Private equity fund Sabre Partners today said it will pick up stake worth Rs 50 crore in Super Religare Laboratories (SRL) as a pre-IPO placement. SRL has filed a draft red herring prospectus with market regulator Sebi in February this year for a public issue of up to 2.8 crore equity shares of face value Rs 10 each. It is yet to get a clearance from Sebi. “With this investment, Sabre Partners, through it's domestic and international 'Spring Healthcare' fund will invest an aggregate amount of Rs 50 crore into SRL,” Sabre Partners said in a statement. The company, however did not disclose the stake it would acquire in the diagnostics firm. […]