February 2012
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Assotech to raise Rs 75 cr; sells 49% stake in Gurgaon project

Real estate developer Assotech today said it will raise Rs 75 crore from private equity firm Sun-Apollo India Real Estate Fund by selling 49 per cent stake in a housing project in Gurgaon.

“We will divest 49 per cent stake in a project to Sun-Apollo to raise Rs 75 crore. This investment is only for a specific group housing project in Gurgaon,” Assotech Managing Director Sanjeev Srivastava told PTI.

The National Capital Region-based company is developing the project […]

2G Licences Verdict to frighten PE firms further

While the SC verdict on 2G licences was a blow to the telecom industry, companies such as Bharti Airtel and Idea Cellular, backed by private equity (PE) players, have benefited. Bharti and Idea have investments from Temasek Holdings and Providence Equity Partners, respectively. The shares of Idea went up 2.7 per cent to close at Rs 95.85 on the Bombay Stock Exchange. Bharti Airtel went up 6.9 per cent to close at Rs 385.95. In many ways, the PE rush […]

PE players see market ripe to exit

US private equity firms Carlyle Group and Warburg Pincus took advantage of recent market gains to pare stakes in two financial companies in deals worth $440 million, a sign of investor wariness about the sustainability of the rally. Buyout firms that invested billions of dollars during the market’s boom years before the global financial crisis are widely expected to look for opportunities to cash in their holdings, with more stake sales anticipated in coming months. “We will definitely see more […]

Sequoia Capital bets on another microfinance player

After backing SKS Microfinance, Sequoia Capital is now betting on another microfinance player, Bangalore-based urban poor-focused Ujjivan Financial Services, a member of the Grameen Network, Bangladesh. Sequoia Capital on Wednesday said it had participated in the fifth round of equity financing by Ujjivan, and was now the single-largest shareholder, with a stake of around 15.7 per cent. It added it had raised Rs 127.9 crore ($25.5 million). Two new foreign institutional investors (FIIs), FMO (Netherlands Development Finance Company) and WCP […]

Au Financiers in talks with PE investors for funds

Au Financiers (India) Pvt. Ltd, a Jaipur-headquartered non-banking financial company (NBFC), is in talks with private equity (PE) investors for a third round of primary funding, said three people familiar with the development. “The company has initiated talks with Warburg Pincus India Pvt. Ltd, Carlyle India Advisors Pvt. Ltd and other investors,” said one of the persons. Ernst and Young Pvt. Ltd has been given the mandate, confirmed the second person. Two of them are directly associated with the company, […]

Blackstone pledges entire stake in Gokaldas Exports to raise funds

Private equity giant Blackstone has pledged its entire equity stake in Gokaldas Exports, the country’s largest apparel exporter, to raise funds marking a rare instance in which a PF fund has resorted to this method to raise money.

Regulatory filings for the October to December period in 2011 show that the company’s foreign promoter, Blackstone FP Capital Partners Mauritius, has pledged its 68.27% stake. It did not disclose details about the funds raised.

“Blackstone’s Gokaldas’ stake is held […]