February 2012
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LVMH’s PE arm buys 8% of Fabindia

L Capital, the private equity arm of LVMH, the world’s biggest luxury goods group, has bought the 8% stake held by Wolfensohn Capital Partners in unlisted Indian ethnic wear chain Fabindia, two sources with direct knowledge of the matter said. The valuations and terms of the agreement were not immediately available. Media reports have valued Fabindia at about Rs 1,400 crore, “The deal is done. A formal announcement is expected shortly,” one of the sources said. Wolfensohn Capital Partners, the […]

IDG Ventures India and SAIF Partners pump in $14 million in e-commerce start-up

Technology investors IDG Ventures India and SAIF Partners have closed one of the biggest venture investments in a specialised online retailer, pumping $14 million (Rs 68 crore) into e-commerce firm BrainBees Solutions, which runs baby-care portal First Cry and the newly-launched GoodLife for beauty and wellness products. The funding, led by IDG, closed on Saturday and underscores the frenetic deal-making across the country’s ecommerce industry. It comes just a week after online fashion retailer Myntra announced a $21 million funding […]

TV9 scouts for investors, needs Rs 4 bn to expand

Hyderabad-based Associated Broadcasting Company Ltd (ABCL), which runs a clutch of regional news channels, has mandated Edelweiss Capital to find an investor that also includes complete exit from the business if the valuation is right. ABCL has a fund requirement of Rs 4 billion to launch news channels in Tamil for the Chennai market, Oriya and Hindi for the National Capital Region (NCR). The plan is to expand its fleet of channels to nine. “We are looking at an investor […]

LIC to pick up 5 per cent stake in Bank of Maharashtra

Life Insurance Corporation of India (LIC) will pick up 5 per cent stake in Bank of Maharashtra through the lender’s preferential allotment of shares valued at around Rs 140 crore.

The board of directors of the bank has decided “to issue 2.53 crore equity shares as LIC of India may approve, on preferential allotment basis….,” Bank of Maharashtra said in a filing to the BSE.

At the prevailing share price of Bank of Maharashtra at Rs 56.05, the deal would […]

Mahindra Satyam to pick up 15% stake in Dion Global

IT consulting and outsourcing company, Mahindra Satyam (formerly Satyam Computer Services Limited), has signed an agreement with New Delhi-based Dion Global Solutions Limited to acquire a strategic stake in the latter by way of fresh issue of equity shares. “Mahindra Satyam will pick up around 15% stake in Dion Global initially, which is expected to be increased at a later stage,” a top official of Mahindra Satyam said, requesting anonymity. In a filing to the BSE on Friday, Mahindra Satyam […]

Norwest Venture Partners invests $15 mn in Manthan Systems

IT company Manthan Systems today said it has secured $15 million investment from the US-based Norwest Venture Partners and it will use the same for funding acquisitions and other business expansion plans. The company, a software solutions provider for retail and consumer packaged goods industries, had earlier raised $35 million from Fidelity, IDG Ventures and other sources. As a result of the funding, NVP India’s Executive Director Mohan Kumar India will be joining Manthan’s Board, Manthan Systems said in a […]

SMEs to drive PE deals in India, says report

India continues to be a small- to medium-sized deal market, with SMEs continuing to be the backbone of most PE investment portfolios in India, according to a recent report by Protiviti Consultants and the Asian Venture Capital Journal. The report, India Investment Opportunity: An Insight, based on a survey of PE fund executives, said that 48 per cent of respondents felt SMEs presented a better value opportunity than other categories of companies, while 40 per cent said it would depend […]

PEs in rush to sign secondary deals

Private equity (PE) companies, whose investments have been stuck for four-five years due to lack of viable exit routes, are in a rush to sell stakes to peers. High valuations and a tough initial public offer (IPO) market saw 2011 witnessing the largest secondary transactions in the domestic PE space. This year, the space has witnessed two major transactions worth $200 million, when Olympus Capital and General Atlantic bought stakes in Indian firms through the secondary route. Vikram Utamsingh, head […]