April 2012
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Anil Agarwal’s son buys 60% stake in Primex Healthcare

Agnivesh Agarwal, son of the Vedanta Group’s founder-chairman, Anil Agarwal, has taken a controlling stake in Chennai-based Primex Healthcare. Primex operates healthcare centres across this city. This will be the first investment by Agarwal Jr in his personal capacity. While declining to comment on the value of the deal, Anand Mahadevan, founder & CEO, Primex Group, said “he (Agnivesh) will come as a strategic investor and join the company as executive director”. Agarwal said India had a fragmented diagnostics services [...]

After Instagram, now Facebook acquires Tagtile

Leading social site Facebook is likely to acquire Indian origin based developer Tagtile. Both the parties have welcomed the deal. It is another milestone for the Facebook as last week it has purchased photo-sharing app Instagram. Facebook sources say that it has to acquire the Tagtile’s and its founders are joining us. Company is acquiring substantially all of the company’s assets. On the other side Tagtile has also welcomed the deal and said that it’s a huge opportunity for the [...]

A venture fund that focuses on HR start-ups

The human resources management industry is the new target of serial entrepreneur Mr Varun Talwar, Chief Executive Officer of India’s first HR-focussed venture capital fund, The HR Fund. The fund will concentrate on providing venture capital to HR service start-ups like temping and staffing firms, training and HR software development firms. Set up in November 2011 with a corpus of Rs 60 crore, the fund aims to cash in on an expected boom in the industry, which is still in [...]

PE realty players look for controlling stake

Private equity players have turned wary of the Indian realty sector’s below-expectation returns, and are now choosing to play safe by picking large stakes in SEZs while staying away from residential property. The head of an advisory firm that is negotiating one such deal between a PE player and a developer in a South India-based Special Economic Zone (SEZ) told Hindustan Times, “PE funds, especially the multinational ones, now want control in their real estate investments due to the past [...]

Trafigura to buy up to 24% stake in NOCL refinery for $130 mn

Oil trader Trafigura has made its first move into refining in Asia, investing up to $130 million for a 24% stake in Nagarjuna Oil Corp Ltd’s (NOCL) planned refinery in southern India and replacing BP as NOCL’s crude supplier. India and other emerging markets are boosting refining capacity to feed rising regional demand, while their counterparts in the United States and Europe restructure or shut plants as fuel sales slow. This is the first direct investment in the refining business [...]

Carlyle, Sequoia in talks with JSM for stake

Private-equity funds including Carlyle Group and Sequoia Capital are in separate talks to invest about $40 million to $50 million in JSM Corp, which operates the Indian franchises of Hard Rock Cafe and California Pizza Kitchen, two sources with knowledge of the matter said. JSM Corp, which runs 12 outlets across different brands, is looking to raise capital to expand its networks and operations, said the sources, who declined to be named as the discussions are not yet public. Premji [...]

Sony Pictures to pick up 30% stake in MAA TV

Hyderabad-based MAA Television Network Ltd and Sony Pictures Television have entered into a strategic alliance to give a growth thrust to MAA TV and its network of Telugu television channels. The tie-up would enable Sony Pictures or any of its affiliates to acquire 30 per cent equity stake in MAA TV on signing a definitive agreement and subject to obtaining necessary approvals from the statutory authorities concerned. The majority shareholders of the two companies have signed a letter of interest [...]

Somany to acquire 26% stake in Commander Vitrified

Somany Ceramics today said it will acquire 26% stake in Gujarat-based Commander Vitrified Pvt Ltd (CVPL) for Rs 3.25 crore. The company has inked a memorandum of understanding with CVPL and its promoters to acquire equity stake of 26% in CVPL for Rs 3.25 crore, with an option to further increase the stake up to 51%, Somany Ceramics said in a filing to the BSE. CVPL is at an advanced stage of setting up a new plant to manufacture about [...]

IL&FS may buy Hershey’s 51% in joint venture

Private equity major IL&FS Investment Managers (IL&FS) has offered around $35 million or Rs 175 crore to buy out US chocolate confectionery major The Hershey Company’s 51% stake in its Indian joint venture (JV) with the Godrej Group.

The Godrej Group would continue to hold the remaining 49% in the company, which will go back to its original name, Godrej Beverages & Foods. The Godrej Group will go back to managing the business as it did prior to forging [...]