April 2012
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India Inc clocks $20.4 billion in deals till March

Corporate India announced deals worth $20.4 billion in the first quarter of this calender year, a tad lower than $21 billion in the year-ago period, global consultancy firm Grant Thornton said. The first quarter of 2012 witnessed deals worth $20.4 billion, out of which M&A was $18.27 billion, PE was $2.01 billion and qualified institutional placements worth $0.1 billion, the report said. Though in terms of value, there has been a decline, in terms of number of deals there has [...]

Marico to sell 4.8% stake to raise Rs 500 crore

Marico plans to sell 4.8% stake to Singapore’s sovereign wealth fund GIC and Baring Private Equity India to raise Rs 500 crore.

Indivest Pte Ltd, an investment arm of GIC, will invest Rs 375 crore to subscribe over 2.2 crore shares while Baring India Private Equity Fund would be allotted 73.5 lakh shares for Rs 125 crore, both at Rs 170 per share on a preferential allotment basis.

“This is to fund Paras’ acquisition as well as to [...]

PE investments fall by half during Mar qtr this year

Private equity (PE) investment fell to $1.88 billion across 90 deals during the quarter ended March this year, less than half compared to the same period last year. This was the third consecutive quarter of deceleration, says a report from research firm Venture Intelligence. During the first quarter of calender year 2011, private equity firms had invested $3.61 billion across 107 transactions. Venture Intelligence said there has been a dearth of mega deals during the quarter, which was the main [...]

RBI Urges Kotak Bank Promoters To Cut Stake To 10%

The Reserve Bank of India or RBI has asked the promoters of Kotak Mahindra Bank to cut their stake in the bank to ten percent from the present 45 percent by 2016, reports said. This regulatory directive is in keeping with the guidelines for entry of new private sector banks. The guidelines require promoters to gradually bring down their stake to ten per cent. As at the end of December 2011, promoter holding in Kotak Mahindra Bank was at 45.40 [...]

PE funding in real estate drops in Jan-Mar period

Private equity (PE) capital infusion into Indian real estate dropped by almost 36% between January and March from a year earlier, as funds opt to spread their risks and invest in smaller deals. PE funds invested $279.53 million across 12 real estate deals in the first three months of this year, compared with $431.9 million across 10 deals in the same period last year, according to data provided by VCC Edge, a research platform that tracks investments. Among this year’s [...]

SEBI now can monitor PE, VC, hedge & realty fund flows

Making registration for private equity (PE), venture capital (VC) and hedge funds compulsory under new norms, capital market regulator Securities and Exchange Board of India (SEBI), has ensured that pooling of investors’ money in India is regulated and investors are not kept in the dark about their investments. “The regulator wants to ensure every pooling of funds in India is regulated and investors should know where the money will be invested,” said Avinash Gupta, leader, financial advisory, Deloitte India. The [...]

IFC invests $20 mn in Pragati India Fund

The International Finance Corp. (IFC) has invested around $20 million in New Delhi-based Pragati India Fund, an investment firm that focuses on small- and medium-size enterprises (SMEs) in states such as Bihar, Rajasthan, Madhya Pradesh, Chhattisgarh, Jharkhand, West Bengal and Orissa. These low-income states are home to more than 400 million people but do not attract big private investments. “These states have been ignored, and there are perception issues,” said Narayanan Shadagopan, Pragati’s founder and managing director. “There is not [...]

Cisco Backs Indian VC Fund

Cisco has invested an undisclosed amount in Aavishkaar, a $120 million venture fund founded to promote development in rural and semi-urban India. Cisco will invest in the fund, Aavishkaar India II Company Ltd., and will “collaborate with other investors to drive sustainable business models with social impact,” the company said.

Reinforcing its commitment to country transformation and inclusive growth, Cisco today announced an investment in Aavishkaar, a venture fund founded to promote development in rural and semi-urban India. Cisco will [...]