February 2012
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IPO route stuck, PEs in rush to sign secondary deals

Private Equity (PE) firms, whose investments have got stuck for the last 4-5 years due to lack of exit opportunities, are in a rush to sell their stake to peers. Due to the tough initial public offer (IPO) market, 2011 witnessed largest size of secondary transaction in Indian PE space. With the beginning of 2012, the PE industry witnessed two major transactions worth $200 million (about Rs 1,000 crore), where Warburg Pincus and General Atlantic bought stake in Indian firms […]

Flipkart buys Letsbuy.com

Flipkart, the poster child of Indian eCommerce, has acquired LetsBuy for $25 mn. This is a sign of things to come for eCommerce in India as lot of startups are looking for a payday. If 2011 was the year of starting up eCommercing sites selling anything from pots to shoes, 2012 would be an year of reflection and consolidation. The news is broke by Medianama yesterday night. Mainstream media doesn’t have it yet and also the news and other details […]

Temasek sells ICICI Bank shares worth Rs 1,500 cr

Singapore government’s investment arm Temasek Holdings’ unit Allamanda Investments has sold shares worth $300 million (about Rs 1,500 crore) in India’s largest private sector lender ICICI Bank. As per the bulk deal transaction data at stock exchanges, about 40 per cent of the sold shares were acquired by global financial services giant Goldman Sachs, but the identity of the other buyers could not be ascertained. The shares of ICICI Bank today slipped 1.8 per cent to close at Rs 919.85. […]

Thomas Cook says India unit up for sale

Thomas Cook Group Plc said it will sell the 77.1% stake it holds in its Indian unit if the company gets an attractive offer, and use the funds to reduce debt. The UK-based tour operator said it has received a number of unsolicited informal expressions of interest from third parties to buy its stake in Thomas Cook (India) Ltd and has decided to start a formal sale process. “If the offers are attractive, we will consider selling our stake […]

Batelco to sell stake in S Tel

Bahraini telecommunications company Batelco Group on Wednesday said it was selling its stake in Indian mobile operator S Tel for $174.5 million, just days after India’s top court nullified more than 100 mobile phone licenses. Batelco amassed its 42.7 per cent stake in S Tel less than three years ago. It said it hoped to complete the sale to India’s Sky City Foundation by the end of October. Batelco said it had been considering offloading the S Tel stake since […]

PE majors hot on Barbeque Nation

PE majors New Silk Route and Bain Capital are holding talks for a $30-million minority investment in Barbeque Nation, a restaurant subsidiary of Sayaji Hotels, said sources familiar with the matter.

The two funds were vying for a little over 26% stake in Barbeque Nation Hospitality, which has mandated boutique investment bank o3 Capital for fund raising. The potential deal could value the restaurant chain at over $100 million, or about Rs 500 crore, if the funds agree to […]

Elara Capital to enter PE space with healthcare fund

Elara Capital, the UK-based financial services major with a strong Indian presence, is set to enter the private equity (PE) space. The company is in discussion with a Dubai-based financial major to launch a healthcare fund soon. Elara Capital Plc, a registered foreign institutional investor (FII) in India, manages several funds including Elara India Gateway Fund, domiciled in Luxembourg, and Elara India Opportunities Fund Ltd (EIOF), domiciled in Mauritius. The healthcare fund will have its focus on India, other south-east […]

Apollo eyes PE for Dental Clinics

Healthcare service provider Apollo Hospitals and medical technology company Trivitron Healthcare on Monday announced a joint venture for a chain of dental clinics in the high-end and affordable healthcare segments in the country. The joint venture, Alliance Dental Care, is looking to set up 100 clinics across India over the next 18 months of which 5-7 will be luxury dental spas for cosmetic procedures, 40-50 will be dental studios in major metros and the rest affordable dental care centres. Apollo […]