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Schroders takes 25% stake in Indian firm

Schroders is acquiring a 25 per cent stake in Indian asset manager Axis Asset Management Company from Axis Bank. The stake in the asset manager, which has gathered £1.4bn in assets under management since it launched in 2009, will be acquired through subsidiary Schroder Singapore Holdings Private. Schroders chief executive Michael Dobson says: “This enables us to participate in the growth opportunity represented by the Indian mutual fund market. In addition to distributing Axis Asset Management Company’s funds internationally, there [...]

Louis Vuitton buys 8 pc stake in Fabindia

Louis Vuitton Moet Hennesy (LVMH) bought 8 percent stake in Fab India, the Indian clothes and lifestyles products retailer. The stake sale saw the exit of Wolfensohn Capital Partners exit from the company. The deal value was around Rs. 150 crore, according to AZB & Partners, the law firm which advised LVMH in structuring the transaction and carried out due diligence, drafting, negotiation and finalisation of the transaction documents. L Capital bought the stake from venture capital fund Wolfensohn Capital [...]

Navis Capital in talks to buy stake in Twilight Litaka

The Indian pharmaceutical market continues to attract private equity (PE) investors. Following the recent investment of Rs 300 crore by ChrysCapital in Intas Pharma, another deal is expected to be announced soon. Malaysia-based Navis Capital Partners is in talks with Twilight Litaka Pharma Ltd for a possible investment of about Rs 150 crore in the company. The percentage of stake in question is not clear. Navis is known for buying a controlling stake in portfolio companies. Last year, it took [...]

Axis Bank reworks Enam swap ratio

Axis Bank has reworked the exchange ratio in the Enam deal, which has been cleared by the Reserve Bank of India, from 5.7:1 to 5:1. In other words, Enam shareholders will receive 5 shares of Axis Bank for each Enam share as against 5.7 earlier.

The bank’s board approved the reassessment of valuation in its Friday meeting. Besides the Enam deal, the board approved the sale of a 25% plus one share stake in Axis Mutual Fund to Schroders [...]

IDFC to raise $1bln-$1.5bln for infra fund

Infrastructure Development and Finance Co is in the early stages of raising $1 billion-$1.5 billion for a new fund to invest in infrastructure in the country, two sources with direct knowledge of the matter told Reuters. The funds will be raised for IDFC Project Equity, in which Citigroup and India Infrastructure Finance Co., a state-owned infrastructure finance firm, are key investors, the sources said. The company already has a project equity fund, which manages about $930 million in roads, ports, [...]

New Silk Route invests in VRL Logistics

Private Equity fund New Silk Route or NSR, which manages $1.4 billion private equity funds focused in Asia and the Indian subcontinent, on Thursday said it invested Rs 175 crore in the Hubli-based logistics company VRL Logistics Ltd, which owns 3000 trucks and 400 buses. VRL will utilise Rs 125 crore to expand its business, while its promoters will get the balance amount of Rs 50 crore for selling their stake to NSR, both the companies said.ithout disclosing the stake. [...]

Chernin Group Buys 49% Stake in TV Producer Endemol’s India Unit

Peter Chernin’s CA Media acquired a 49 percent stake in the Indian unit of television producer Endemol NV. Deepak Dhar, Endemol India’s managing director, will become chief executive, Chernin Group said today in an e-mailed statement. Chernin, the former News Corp. chief operating officer, received a $200 million investment last week from Providence Equity Parters. Source: Bloomberg

Intas Pharma raises R300 crore from ChrysCap before IPO

ChrysCapital has invested R300 crore in Ahmedabad-based Intas Pharma in a pre-IPO round funding. ChrysCapital manages $2.5 billion across six funds and has made 60 investments in India since 1999. This round of funding has come from ChrysCapital’s Fund Five and, with this investment, the firm has fully invested from its Fund Five. In March 2012, ChrysCapital raised $500 million for a new fund amid a tough fund-raising scenario. The Intas investment comes as another shot in the arm for [...]