http://www.indiape.com/blog INDIA PRIVATE EQUITY - Private Equity information for investors looking at Indian Private Equity space en-us Thu, 11 Mar 2010 08:50:44 +0530 India Private Equity Deals Blogware www.indiape.com http://www.indiape.com/blog/_archives/2010/3/10/4476720.html http://www.indiape.com/blog/_archives/2010/3/10/4476720.html Wed, 10 Mar 2010 22:13:25 +0530 IL&FS Investment Managers, a private equity arm of IL&FS Ltd, has acquired a 10% stake in The Mobile Store, an Essar group firm, for Rs100 crore, a senior executive from the retail chain said. The stake sale values Mobile Store, a mobile handsets and accessories retail chain, at Rs1,000 crore, added this person who did not want to be identified. A spokesperson for the Essar group confirmed the transaction but declined to elaborate any further. The chain, managed by Rewant Ruia, a scion of the Ruia family and son of Ravi Ruia, vice-chairman of the group, has been on an expansion spree. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/3/10/4476717.html http://www.indiape.com/blog/_archives/2010/3/10/4476717.html Wed, 10 Mar 2010 22:10:32 +0530 Mayfield India Fund and SIDBIVenture today announced a new investment in Fourcee Infrastructure Equipment Pvt. Ltd. (Fourcee). Under the terms of the investment, Mayfield India Fund and SIDBIVenture will invest Rs.50 crore in Fourcee to expand their tank terminals, add more uniquely designed containers and grow their infrastructure. This new investment reflects Mayfield India Fund's investment theme of adding value to growth stage companies in the consumer and infrastructure segment. The alliance comes at a time when the industry has shown consistent growth, even in these challenging economic times. Currently, Fourcee is the only company focused on providing end to end logistics solution for liquid cargo through road and railways using its own specialized designed containers. Mayfield India's and SIDBIVenture's investment provides an exciting opportunity for Fourcee to expand its footprint and offer unique logistic solutions in India Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/2/26/4466717.html http://www.indiape.com/blog/_archives/2010/2/26/4466717.html Fri, 26 Feb 2010 17:40:34 +0530 Leading foreign institutional investor Fidelity International is said to have sold around 2% stake in MCX to Passport India, an existing shareholder in the commodity bourse, according to market sources. The sale is in keeping with government norms that restrict a single foreign investor’s shareholding in a commodity bourse to 5% by March 31, 2010. With this, Fidelity’s stake will come down to 7% while Passport India’s shareholding in MCX will rise to 5%. No confirmation was available on the pricing of the transaction. Fidelity had picked up around 9% in MCX in 2006 for $49 million, valuing the exchange at around $540 million. When NYSE picked up a 5% stake in MCX in 2008, the exchange was valued at $1.1 billion. When contacted, officials from MCX and Fidelity declined to confirm the development. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/2/24/4464832.html http://www.indiape.com/blog/_archives/2010/2/24/4464832.html Wed, 24 Feb 2010 20:40:47 +0530 Manipal Universal Learning, the corporate education arm of the education-cum-healthcare Manipal Group, said on Tuesday it had raised Rs200-crore ($43.3 million) in private equity investment from PremjiInvest. PremjiInvest is a $1-billion fund promoted by Wipro Group chairman Azim Premji. According to Manipal Universal CEO Anand Sudarshan PremjiInvest, together with several other PE investors in Manipal Universal-Capital International and IDFC Private Equity would hold a hold a significant minority stake in the firm. The firm had received substantial investments to the tune of $40 million and $30 million from Capital International and IDFC around three years ago. Sudarshan said the funds would go towards building a new campus in Dubai, expansion of the Antigua campus, the dental stream in Malaysia and upgradation of technology for next-generation virtual and distance-learning education system, EduNxt for which capital outlays of around $82-$90 million would be required. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/2/22/4462992.html http://www.indiape.com/blog/_archives/2010/2/22/4462992.html Mon, 22 Feb 2010 22:27:00 +0530 Baring Private Equity Partners (India) is the front-runner to buy about 15% stake in Mumbai-based drugmaker Famy Care for around $40 million, or Rs 185 crore, a person familiar with the matter said. Privately-held Famy Care is one of the world’s largest maker of oral contraceptives pills. “If the talks fructify, the deal could be closed within a month or two,” the person, a pharma industry executive asking not to be named, said. The deal will value Famy Care at Rs 1,230 crore, making it one of the biggest private equity investments in the pharma sector in recent times. When contacted by ET, Sanjeev Taparia, MD at Famy Care, said: “We are in discussions with potential PE funds. But we can’t share names as nothing has been finalised.” He also declined to share the financial details about the company. Mr Taparia leads the company owned by Taparia family. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/2/18/4459396.html http://www.indiape.com/blog/_archives/2010/2/18/4459396.html Thu, 18 Feb 2010 21:50:51 +0530 Actis, an emerging markets private equity specialist, announced today that it has invested US$50 million (INR 235 crores) to acquire a substantial minority stake in Integreon, the leading global provider of legal support, research and business services to law firms, financial institutions and corporations. As part of this investment, JM Trivedi, Actis's Head of South Asia, and Gautham Radhakrishnan, a Director at Actis, will join Integreon's board of directors. Actis has invested alongside Ayala Corporation, the oldest and one of the leading conglomerates in the Philippines, which initially invested in Integreon in 2006 through LiveIt Investments, its business process outsourcing holding company. Ayala Corporation will continue to hold a majority stake in Integreon. Today, professionals at leading organisations including 11 of the top 50 global brands such as Microsoft; 32 of the AmLaw 50 such as Clifford Chance and DLA Piper US LLP; and 9 of the top 10 global investment banks focus on their "highest and best use" by trusting high-quality research, document, and legal solutions from Integreon. Integreon revenues have grown at an 83 per cent CAGR since 2006 to an $89 million revenue run rate in Q4 2009. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/2/8/4450485.html http://www.indiape.com/blog/_archives/2010/2/8/4450485.html Mon, 08 Feb 2010 21:26:59 +0530 DAR Capital, promoted by non-resident Indian Arun Rangachari, will pick up 26% stake in Valuable Media Ltd (VML) for Rs 100 crore. The DAR Capital Group has already identified the media and entertainment domain as a destination for big investments. It has committed over Rs 650 crore investments on movies and cricket. VML, the Mumbai-based promoters of UFO Moviez, has sought approval of the Foreign Investment Promotion Board (FIPB) to raise Rs 100 crore from DAR Capital. Valuable Media will use the fund to launch—small mall technology (SMT)—a satellite-based digital distribution of films in smaller towns and also to push its consumer box business in India and other markets. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/2/4/4447078.html http://www.indiape.com/blog/_archives/2010/2/4/4447078.html Thu, 04 Feb 2010 21:49:28 +0530 Quadrangle Capital Partners and a consortium of investors have acquired stakes in Tower Vision India. The equity capital and some additional debt financing will offer the wireless towers manager $300 million to boost its portfolio of transmission sites. The New York-based private equity fund, which has $3 billion in assets under management, will assume a “significant minority” share of Tower Vision. The fund’s investments in the region will concentrate on telecommunications, media and technology in India, China and Australia. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/1/30/4442487.html http://www.indiape.com/blog/_archives/2010/1/30/4442487.html Sat, 30 Jan 2010 13:40:54 +0530 Alok Industries, a Mumbai-based vertically integrated textile player, has roped in Asia Bridge as a private equity player for its retail subsidiary – Alok H&A. The deal size is of Rs 45 crore. Alok H&A is engaged in the cash and carry business of apparels and home textiles across the country with its 150 stores at present. The company has drawn up a massive expansion plan with a view to achieve a pan-India footprint and is eyeing 1,000 stores in the next three years. The company, by the end of the current financial year, will take the number of stores to 250. And in FY11, the textile major is aiming to add another 250. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/1/27/4440276.html http://www.indiape.com/blog/_archives/2010/1/27/4440276.html Thu, 28 Jan 2010 00:03:28 +0530 IL&FS Education and Technology Services Ltd., the education unit of the IL&FS Group, said Wednesday it has raised INR1.72 billion from private equity company India Equity Partners. The funding will help IL&FS Education and Technology Services achieve its medium-term growth targets, Hari Sankaran, managing director of IL&FS, said in a statement, without elaborating. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/1/25/4437694.html http://www.indiape.com/blog/_archives/2010/1/25/4437694.html Mon, 25 Jan 2010 22:19:38 +0530 New York-based India Equity Partners is set to acquire a 25% stake in IL&FS Education and Technology Services (IETS) for little over Rs 140 crore. IETS is an education and cluster development initiative of Infrastructure Leasing & Financial Service (IL&FS). Two officials, involved in the deal, said on the condition of anonymity, the private equity firm would pick up nearly 20% in secondary sale by the three existing partners and 5% will be acquired through fresh issue of shares by IETS. Orix Corporation of Japan, HDFC and Sera Fund are divesting their entire stake in favour of India Equity Partners, said a senior executive. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/1/21/4434330.html http://www.indiape.com/blog/_archives/2010/1/21/4434330.html Thu, 21 Jan 2010 22:34:06 +0530 UTI Asset Management Company Ltd (UTI AMC) on Wednesday announced that T Rowe Price Group Inc (TRP Group) through its wholly owned subsidiary T Rowe Price Global Investment Services Ltd. (TRP) has acquired 26 per cent stake in UTI Asset Management Company Limited (UTI AMC) and UTI Trustee Company Pvt. Ltd for around Rs.650 crore. Directors representing TRP have been inducted on UTI AMC Board. TRP has acquired 6.5 per cent stake from each of the existing four sponsors of UTI AMC — State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/1/20/4433410.html http://www.indiape.com/blog/_archives/2010/1/20/4433410.html Thu, 21 Jan 2010 00:25:35 +0530 Singapore state investment firm Temasek Holdings is in talks to buy a stake worth $170 million in GMR Infrastructure Ltd.'s energy unit, a person familiar with the situation said Wednesday. "Temasek is one of around five companies that have shown interest in GMR Energy," the person, who declined to be named, said. "They've been talking since last year." GMR Infrastructure, the listed unit of GMR Group, has said in October it is planning to sell a 10% to 15% stake in the energy unit and may offer shares through a private placement and an initial public offering. GMR group Chief Financial Officer A Subba Rao declined to comment on a potential deal with Temasek, saying it is not the company's policy to reveal any details on a deal until it reaches a definitive stage. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/1/20/4433405.html http://www.indiape.com/blog/_archives/2010/1/20/4433405.html Thu, 21 Jan 2010 00:17:10 +0530 SMS GupShup, a social SMS service that allows users communicate and connect with family, friends and fans using mobile handsets, has raised $12 million in Series D venture financing round. This latest funding round is led by by Globespan Capital Partners with existing investors Charles River Ventures and Helion Venture Partners participating in the round. With this new financing round, the total funding of SMS GupShup comes to $37 million. According to the company, the new funding will be used to expand into other markets such as the Philippines and Indonesia, for product development and to hire new staff in engineering, advertising and marketing. Webaroo Technology is the parent company of SMS GupShup, and is founded by Rakesh Mathur and Beerud Sheth. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/1/12/4426699.html http://www.indiape.com/blog/_archives/2010/1/12/4426699.html Tue, 12 Jan 2010 22:36:44 +0530 Minda Industries Ltd has announced that the Board of Directors of the Company at its meeting held on January 11, 2010, inter alia, have approved the fund raising proposal unanimously and recommended for Shareholders' approval at their Extra Ordinary General Meeting to be held on February 03, 2010. The Board approved Preferential Allotment of 1,83,500 (One Lac Eighty Three Thousand Five Hundred), 3% Cumulative Compulsorily Convertible Preference Shares having a face value of Rs. 2187 each, to India Business Excellence Fund I (a Public Limited Life Company, established under the laws of Mauritius) Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/1/11/4425832.html http://www.indiape.com/blog/_archives/2010/1/11/4425832.html Mon, 11 Jan 2010 22:28:02 +0530 Two private equity (PE) players, Standard Chartered Private Equity and Providence Equity Promoters, may jointly invest $200 million in Multi Screen Media (MSM) India, earlier known as Sony Entertainment Television (SET) India. The deal includes a buyout of 32 per cent held by Bollywood actor Jackie Shroff and three others, and infusion of funds as fresh equity. Sony’s US-based parent, which holds 61 per cent in MSM, will also bring in funds. According to investment bankers privy to the development, the deal is likely to be finalised by the end of this month. The balance capital in MSM is with another private equity investor, Capital International of Japan. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/1/8/4423306.html http://www.indiape.com/blog/_archives/2010/1/8/4423306.html Fri, 08 Jan 2010 16:55:00 +0530 Viceroy Hotels, a mid-sized hotel and resort chain, said the real estate investment arm of JP Morgan has picked up 49 per cent equity in one of its units for Rs 700 million. JP Morgan India Property Mauritius has picked up stake in a Bangalore hotel subsidiary of the company, it said in a statement to the Bombay Stock Exchange late on Thursday. "The investment is in line with our business restructuring plans," said a senior company executive. "We have appointed KPMG India to advice on the restructuring process." Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/1/4/4420140.html http://www.indiape.com/blog/_archives/2010/1/4/4420140.html Mon, 04 Jan 2010 23:17:23 +0530 Private equity Bain Capital has bought a 15.4% stake in Kolkata-based Himadri Chemicals in a move which will support the chemical company’s plan to triple capacity. The Rs 600-crore deal that includes an open offer to Himadri’s retail shareholders, will part-finance the company’s Rs 1,600-crore expansion plan that will raise its coal tar capacity to 400,000 tonne and forward integrate into other products for use in construction and auto industries, CEO Anurag Choudhary told ET. Coal tar is a high viscous liquid by-product derived from coal gas, and is widely used by the auto sector, specially by electric cars that are powered by lithium ion batteries. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/1/3/4419011.html http://www.indiape.com/blog/_archives/2010/1/3/4419011.html Sun, 03 Jan 2010 14:52:58 +0530 Global investment bank Goldman Sachs is all set to purchase a 9.4% stake of Max India for Rs 540 crore. Max India will issue fully and compulsorily convertible debentures (FCDs) of the face value of Rs 867 each to Goldman Sachs Equity Partners for an aggregate consideration of $115 million. The sum of Rs 520 crore would be pumped into the life insurance firm Max New York life, with about Rs 200 crore for the new health insurance business, while Rs 150 crore is for the healthcare business. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/1/3/4418997.html http://www.indiape.com/blog/_archives/2010/1/3/4418997.html Sun, 03 Jan 2010 14:24:03 +0530 Private equity firm Bain Capital would be investing about Rs 580 crore for over 35 per cent stake in Himadri Chemicals and Industries. The board of directors of Himadri Chemicals has approved the issuance of 63.1 lakh shares representing 15.39 per cent stake on a preferential basis to Bain Capital, the chemical company said in a statement. The allotment would be made at Rs 400 a piece, resulting in an equity raise of Rs 252 crore for Himadri Chemicals. Further, the PE firm would make a mandatory open offer for a 20 per cent stake, resulting in a further investment of up to Rs 328 crore. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2009/12/24/4411241.html http://www.indiape.com/blog/_archives/2009/12/24/4411241.html Thu, 24 Dec 2009 16:43:50 +0530 IDFC Project Equity Company will invest Rs 250 crore through its India Infrastructure Fund in a 540 mw plant being built by Adhunik Power & Natural Resources in Jamshedpur. Adhunik Power is a subsidiary of the Rs 1,300 crore Adhunik Metaliks. Arun Kedia, group CFO, Adhunik Power, told DNA Money the investment by the IDFC subsidiary will be spread over two years. "The funding will come in through the issue of convertible bonds, which will be converted into equity shares after two years. They (IDFC) will hold 27% stake in the project then." Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2009/12/24/4411234.html http://www.indiape.com/blog/_archives/2009/12/24/4411234.html Thu, 24 Dec 2009 16:38:42 +0530 Small Industries Development Bank of India (SIDBI) on Wednesday raised its stake in the country's leading microfinance institution, Bandhan, to 12.23% from the existing 1.31%, underscoring the growing role of such institutions that lend to the poor. The additional 10.92% stake will cost SIDBI Rs 50 crore. Accordingly, the paid-up capital of Bandhan-which lends only to women-will rise to Rs 118 crore from Rs 68 crore, and its net worth to Rs 165 crore (Rs 115 crore). At present, SIDBI is the lone institutional stakeholder in Bandhan. Both Bandhan and SIDBI confirmed the development to ET. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2009/12/16/4405616.html http://www.indiape.com/blog/_archives/2009/12/16/4405616.html Wed, 16 Dec 2009 12:34:53 +0530 Standard Chartered Private Equity Ltd. invested US$33 million in Firepro Systems Private Ltd., India's largest fire and electronic safety firm, the companies said Wednesday. The capital will be used to expand and upgrade Firepro's business, they said. "The infrastructure protection and safety sector is poised for strong growth and we wish to be at the crest of this opportunity," N.S. Narendra, chairman and managing director of Firepro, said in a statement. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2009/12/12/4402988.html http://www.indiape.com/blog/_archives/2009/12/12/4402988.html Sat, 12 Dec 2009 22:05:13 +0530 Realty firm Parsvnath Developers Ltd today said it has (PDL) inked an agreement with international real estate private equity fund Sun-Apollo which will invest Rs 75 crore in Parsvnath's premium luxury residential project in Gurgaon. The Sun-Apollo will invest the money for a 50 per cent stake in the project SPV which will develop Parsvnath Exotica Part-II in Gurgaon, a company statement said. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2009/11/23/4388030.html http://www.indiape.com/blog/_archives/2009/11/23/4388030.html Mon, 23 Nov 2009 22:46:46 +0530 US-based Apollo Management will take a 11 per cent stake in the expanded equity of Dish TV, making its first media investment in India. Apollo will pump in $100 million to subscribe to Dish TV's GDR (Global Depositary Receipt) issue. Dish TV has priced its GDR at Rs 39.80 per share of Re 1 each. Indiantelevision.com was the first to report that Dish TV would be going in for a GDR issue as it plans to raise up to $200 million to fund its expansion programme. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2009/11/23/4388005.html http://www.indiape.com/blog/_archives/2009/11/23/4388005.html Mon, 23 Nov 2009 22:26:22 +0530 Venture capital company, GVFL has announced an investment of Rs 11 crore in Bangalore-based iNurture Education Solutions Limited. Based out of Ahmedabad, the erstwhile Gujarat Venture Finance Limited made its sixth investment from the Rs 450-crore SME Technology Fund. Talking about the investment, Mihir Joshi, managing director of GVFL said, "What triggered the Rs 11 crore investment in iNurture was India's education sector and its potential. The sector offers assured demand growth, recession proof nature, and negative working capital. Today's growing economy expects students to be market ready. Government's recent policy directions and openness to adapt to this need allows players like iNurture to play a formidable role in this sector." Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2009/11/23/4387983.html http://www.indiape.com/blog/_archives/2009/11/23/4387983.html Mon, 23 Nov 2009 22:11:43 +0530 Experian is the second credit bureau in the country to confirm conditions after Credit Information Bureau of India. Seven financial institutions, including Punjab National Bank (PNB), Union Bank of India and Axis Bank have picked up stake in the newly-formed credit bureau, Experian Credit Information Company of India. Experian is the second credit bureau to confirm conditions after Credit Information Bureau (India) (CIBIL), which is the only functional credit bureau at present. Experian said it would now apply to the Reserve Bank of India (RBI) for a final license and commence operations within six months of receiving it. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2009/11/21/4386045.html http://www.indiape.com/blog/_archives/2009/11/21/4386045.html Sat, 21 Nov 2009 11:37:34 +0530 California Software Ltd (Calsoft), having major operations in the US and Chennai, has divested its entire 51% stake in education-based IT solutions company Informed Decisions Corporation (IDC) through the wholly-owned former's subsidiary CSWL for $36 million. US-based private equity firm, Higher One has bought Calsoft stake in the transaction, according to a release from Calsoft. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2009/11/11/4377885.html http://www.indiape.com/blog/_archives/2009/11/11/4377885.html Wed, 11 Nov 2009 23:26:10 +0530 Standard Chartered Plc said Thursday it invested INR500 million in Indian agri-input and fine chemicals company PI Industries Ltd, through its units including Standard Chartered Private Equity. "Both the domestic agri-inputs space and the Contract Research and Manufacturing Services sector offer solid prospects for Indian companies," Rahul Raisurana, Managing Director, Standard Chartered Private Equity said in a statement. The investment is in the form of convertible preference shares and debentures, Standard Chartered said. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2009/11/9/4376128.html http://www.indiape.com/blog/_archives/2009/11/9/4376128.html Mon, 09 Nov 2009 22:02:34 +0530 Chennai headquartered TVS Capital has bought a 25% stake in Tata-owned bookstore chain Landmark, report CNBC-TV18’s Divya Rajagopal and Komal Chowdhary. TVS Capital's private equity arm TVS Shriram has opened its cheque book and bought a 25% stake in Trent-owned bookstore chain Landmark for Rs 65 crore. This is the fund's first big deal and its second since its inception two years ago. Gopal Srinivasan, Chairman, TVS Capital Fund, says, ”From the beginning our approach has been that we have been very focused on our core thesis, which is to do, consumer driven opportunity and specialty retail was one area we looked at. We always focused on that as it represents the new India, modern large format retailing, very specialized in books and gifts.” Main Page India Private Equity Deals