Bangalore-based Puravankara Developers is looking for private equity investors for its affordable-housing subsidiary, Provident Housing and Infrastructure. However, it is avoiding the same for the parent company due to the high demands of private equity players. Ravi Ramu, director, Puravankara Developers said, "Today, private equity investors ask for an assured internal rate of return (IRR) of more than 20%, which is very high. Thus, we are very cautious before we bring in any private equity player into our parent company. However, we are in talks with international and national players to raise Rs 750 crore for mid-segment housing projects, which is favourable in this market situation."   more »

Global investors, including private equity majors and dedicated carbon funds, are throwing their weight behind compact fluorescent lamp (CFL) manufacturers in their bids for “green” projects on the anvil, especially Clean Development Mechanism-based CFL supply schemes. Climate Change Capital (CCC), which manages the world’s largest private sector carbon fund, has indicated its keenness to fund the CDM-based energy efficiency lighting projects being planned by the Centre as well as those coming up across States, such as Andhra Pradesh and Haryana. Among PE funds, Baring Private Equity Partners plans to channel a significant amount of its $1-billion fund in India into the energy business, especially the clean energy segment, according to industry sources.   more »