http://www.indiape.com/blog INDIA PRIVATE EQUITY - Private Equity information for investors looking at Indian Private Equity space en-us Tue, 31 Aug 2010 21:50:53 +0530 Main Page Blogware www.indiape.com http://www.indiape.com/blog/_archives/2010/8/31/4618383.html http://www.indiape.com/blog/_archives/2010/8/31/4618383.html Tue, 31 Aug 2010 22:20:22 +0530 Cipla India is to acquire a 25 percent stake in the manufacturing division (CMM) of South Africa's third largest pharmaceutical group Cipla Medpro South Africa, it was announced on Tuesday. Ciplo Medpro SA said it was cognisant of the need to increase volume in CMM and so was inthe process of finalising an agreement with Cipla India regarding the acquisition the consideration of which will be a "nominal value". "Pursuant to this, Cipla India will provide additional volume and assist us in achieving World Health Organisation (WHO) and Food and Drug Administration (FDA) manufacturing approvals in the near future, resulting in increased orders and business for our factory." "This will ensure better continuity, increased capacity utilisation and further entrench the relationship with Cipla India," the pharmaceutical group said. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/8/31/4618381.html http://www.indiape.com/blog/_archives/2010/8/31/4618381.html Tue, 31 Aug 2010 22:18:22 +0530 Everstone Capital, the India-focused private equity and real estate investor founded by two former Goldman Sachs executives, is seeking to raise up to $350m to invest in warehouses in India, according to Bloomberg. The firm has already invested a quarter of its $240m Indospace Logistics Parks fund, and may seek to begin fundraising at the end of 2011, after 75 per cent of the logistics parks fund has been allocated. The firm is shoring up its reserves for industrial real estate and warehousing infrastructure investment because of a shift in India from a regional tax structure to a goods and services tax regime, expected to result in companies consolidating from regional warehouses to larger, centralised distribution centres. Main Page India PE Fund News www.indiape.com http://www.indiape.com/blog/_archives/2010/8/30/4617580.html http://www.indiape.com/blog/_archives/2010/8/30/4617580.html Mon, 30 Aug 2010 22:31:11 +0530 TPC may offer upto 49 per cent equity stake to Qatar Petroleum in its gas-based project at Kerala, to secure fuel supply for its power plant. "We have offered Qatar Petroleum less than 50 per cent stake in our Kayamkulam gas-based power station in Kerala," NTPC CMD R S Sharma told reporters here. The current capacity of the Kayamkulam plant is 350 MW, which the company is planning to expand to 1,050 MW in the next two years and further expand it to 1,800 MW later. The company may form a special purpose vehicle (SPV) for the last stage (1,800 MW) expansion of the power project, in which it would offer stake to Qatar Petroleum. NTPC is keen to get Qatar in Kayamkulum project, as the Gulf-nation would help in return by bringing gas for the plant. With uncertainty over gas from Reliance Industries' KG Basin, the deal with Qatar Petroleum would give some stability to India's largest power producer. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/8/30/4617565.html http://www.indiape.com/blog/_archives/2010/8/30/4617565.html Mon, 30 Aug 2010 22:13:41 +0530 Reliance Industries on Monday said it has acquired 14.12 per cent stake in hospitality major East India Hotels (EIH), which runs the Oberoi group of hotels. "Reliance Industries has acquired from Oberoi Hotels Private Limited and certain other promoters shares in EIH Limited representing 14.12 per cent of EIH at a total cost of Rs.1,021 crore approximately," the oil-to-retail conglomerate led by Mukesh Ambani said in a statement. The company made the acquisition through its wholly owned subsidiary, Reliance Industries Investment and Holding Private Limited. The announcement came after the closing of stock markets. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/8/30/4617562.html http://www.indiape.com/blog/_archives/2010/8/30/4617562.html Mon, 30 Aug 2010 22:10:01 +0530 Real estate firm DB Realty Ltd on Monday denied a newspaper report that it is selling a stake in a project in Mumbai. DNA had reported earlier that DB is in talks with private equity players to sell 20 percent stake in a redevelopment project in Bandra in western Mumbai, sending its shares up more than 6%. "The reports published in the media are not attributable to the company and are incorrect and cannot be relied upon," it said in a statement to the National Stock Exchange. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/8/29/4616798.html http://www.indiape.com/blog/_archives/2010/8/29/4616798.html Sun, 29 Aug 2010 23:36:48 +0530 Mahindra & Mahindra is focusing on inorganic growth opportunities in the farm equipment space by endorsing clean and green technology. The automaker picked up a 20 per cent stake in the Indian-arm of US-based Vayugrid Marketplace Services last week for Rs 1 crore essentially to create a business model whereby farmers can ensure better productivity and offtake, Pawan Goenka, president of automotive and farm equipment business at M&M, told FC. Vayugrid’s core area of business is contract farming and promoting alternative energies to the rural community — helping farmers to get access to energy to drive productivity and thereby create wealth. In India, Vayugrid is headquartered in Bangalore while in Pune, it has 1,000 acres of farm and agricultural land under cultivation for farmers. “Vayugrid has a business model that ties in very closely to what we want to do in the longer term in our farm equipment business –create opportunities and give knowledge to farmers to make them able to manage their crops much better, get better productivity, thereby guaranteeing a better offtake,” Goenka said. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/8/27/4615342.html http://www.indiape.com/blog/_archives/2010/8/27/4615342.html Fri, 27 Aug 2010 22:48:56 +0530 The regulator may allow insurance companies to invest in private equity funds across sectors, a move that may boost returns for policy holders and help capital starved firms to access funds. Insurance companies have sought a relaxation in rules governing their investments in private or venture funds, which now permits them to invest only in the infrastructure sector where companies build roads, ports and power utilities. The Insurance Regulatory & Development Authority, or Irda, is now vetting the proposal, said an executive at the regulator who did not want to be identified. He did not disclose by when a decision would be taken. “It helps bring in more domestic capital to venture capital funds,” said Luis Miranda, president, IDFC Private Equity and chairman IVCA. “It is important for private equity to have a larger domestic base and insurance companies bring in long-term capital.” Main Page General www.indiape.com http://www.indiape.com/blog/_archives/2010/8/27/4615331.html http://www.indiape.com/blog/_archives/2010/8/27/4615331.html Fri, 27 Aug 2010 22:30:42 +0530 UNIFI Capital (P) Ltd has launched the Insider Shadow Fund with a corpus of Rs 100 crore. This will be company’s sixth fund. The Chennai-based fund management company has assets under management of around Rs 500 crore and is planning to increase it to Rs 1,250 crore. K Sarath Reddy, chairman, UNIFI Capital (P) Ltd said that the company made a soft launch in June and raised around Rs 75 crore from the existing customers and is planning to raise another Rs 25 crore from the new customers. The company is licensed in India and Mauritius to manage Indian, NRI and institutional clients from India and abroad. Of the total portfolio 60 per cent of investment comes from domestic investors and 40 per cent from offshore, of which 50 per cent will be institutions nd remaining NRIs, he added. Main Page India PE Fund News www.indiape.com http://www.indiape.com/blog/_archives/2010/8/27/4615322.html http://www.indiape.com/blog/_archives/2010/8/27/4615322.html Fri, 27 Aug 2010 22:21:56 +0530 EID Parry India, a subsidiary of USD 3 billion Murugappa Group, has acquired 65 per cent stake in GMR Industries for an undisclosed amount. The company has acquired 1,29,75,110 equity shares of Rs 10 each representing 65 per cent of the paid up and issued equity share capital of GMR Industries, the agri-business arm of GMR Holdings LTD. Through this acquisition, GMR Industries has become a subsidiary of our company with immediate effect, EID Parry India said in a statement here. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/8/25/4613699.html http://www.indiape.com/blog/_archives/2010/8/25/4613699.html Wed, 25 Aug 2010 23:15:10 +0530 Venture capital (VC) firm Sequoia Capital India has agreed to sell part of its stake in diagnostics and pathology services firm, Dr Lal PathLabs Pvt. Ltd, to US-based private equity firm TA Associates Inc., whose total capital base stands at $16 billion (`74,560 crore). The 56-year-old Dr Lal PathLabs offers diagnostic facilities through 875 outlets in India. Sequoia director Sandeep Singhal said at least 20 potential investors competed for the shares. The investment in Dr Lal PathLabs was the last from Sequoia’s first fund, launched in 2000. Sequoia made investments in two tranches, with the first phase of funding coming in 2005, and the second in 2007. “We have held this investment for five years, it’s a fantastic business. We have sold part of the stake and kept the rest,” Singhal said. “We have been pursued aggressively by interested parties for the last 18 months.” The development comes after drug maker Piramal Healthcare Ltd said in July that was selling its diagnostic services unit to Super Religare Laboratories Ltd for `600 crore. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/8/25/4613694.html http://www.indiape.com/blog/_archives/2010/8/25/4613694.html Wed, 25 Aug 2010 23:13:13 +0530 Several non-resident Indian (NRI) businessmen in the Gulf have demanded that private investors must get a majority stake in a public limited company set up to develop and manage the proposed new international airport at Kannur in Kerala. Kerala Chief Minister V.S. Achuthanandan, also the Chairman of the company who presided over an investors’ meeting in Thiruvananthapuram recently, said their demand would be considered at the next meeting of the Board of Directors of the Kannur International Airport Limited (KIAL). Prominent NRIs who attended the meeting include Yousuffali M.A. of the UAE-based Emke group, P. Mohammed Ali of Galfar group, Oman, and C.K. Menon of the Doha-based Behzad group. Yousuffali and Ali are also Directors of the Cochin International Airport Limited (CIA) in which private individuals and institutions hold the majority stake. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/8/25/4613690.html http://www.indiape.com/blog/_archives/2010/8/25/4613690.html Wed, 25 Aug 2010 23:07:21 +0530 Private equity (PE) deal activity in India continued its momentum in the April-June quarter of 2010 from the prior quarter, though the total deal value was low­er. In the second quarter of cal­endar year 2010, India saw 57 PE deals at $1.5 billion. This is the second highest quarterly performance in the previous seven quarters. Although total PE deal size in 2Q2010 was 30 per cent lower compared with the prior quarter, it was 70 per cent higher compared with the average quarterly aggregate PE deals in 2009, says an Ernst & Young. Both 1Q2010 and 2Q2010 registered deals worth over $1 billion after a subdued 2009, during whi­ch no quarter crossed the $1 billion mark. Also, the aggregate deal value for the first six months of 2010 ($3.5 billion) is now almost equivalent to that of the whole of 2009 ($3.54 billion). Main Page General www.indiape.com http://www.indiape.com/blog/_archives/2010/8/25/4613685.html http://www.indiape.com/blog/_archives/2010/8/25/4613685.html Wed, 25 Aug 2010 23:02:16 +0530 Bandhan Microfinance is looking for a private investor who can infuse Rs.100 crore into the company, a top company official said here Wednesday. The company is having talks with two-three foreign institutions. 'We are looking for a private investor. We are in talk with two-three international players. Hopefully, it will be finalised by December,' Chandra Shekhar Ghosh, founder and chief executive officer, told reporters, adding that Bandhan is expecting a Rs.100 crore infusion from the investor. At present, Small Industries Development Bank of India (SIDBI) is the only institutional investor in Bandhan. It picked up 11 percent stake for Rs.50 crore in 2009. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/8/25/4613683.html http://www.indiape.com/blog/_archives/2010/8/25/4613683.html Wed, 25 Aug 2010 22:59:00 +0530 Real Estate company Lodha Developers has generated Rs 500 crore by selling a 10% stake in its project of constructing a 117 storey residential tower in Mumbai to HDFC Venture Funds. Abhisheck Lodha, MD of Lodha Developers said, “The deal shows the investor’s appetite for quality real estate projects in India”. HDFC, the home loan lender has promoted HDFC Venture Funds. Other investors in the project are GIC, Temasek and Abu Dhabi Investment Authority. The deal is the 2nd biggest private equity investment in India’s real estate sector and values the project at Rs 5,000 crore, two-and-a-half times its projected cost. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/8/25/4613680.html http://www.indiape.com/blog/_archives/2010/8/25/4613680.html Wed, 25 Aug 2010 22:54:18 +0530 Pharmaceutical major Cipla today announced that its board has approved the acquisition of Meditab Specialities for an aggregate consideration of Rs 1.33 billion. Meditab has smallimid-sized formulation manufacturing facilities at multiple locations which are substantially manufacturing formulation products for the company. In addition to Pill control over Meditab`s aforesaid manufacturing facilities which would result in improvements in operational and cost efficiencies, Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/8/25/4613677.html http://www.indiape.com/blog/_archives/2010/8/25/4613677.html Wed, 25 Aug 2010 22:50:32 +0530 The Planning Commission today said that Rs 50,000-crore Infra Debt Fund for financing infrastructure projects will become operational by beginning of next fiscal. A panel constituted by the Commission to look into the changes required in the regulatory framework for facilitating the setting of the Infra Debt Fund (IDF) is expected to give its report by next week. "If everything goes well, the Infra Debt Fund would be reality by the beginning of the next fiscal," Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters here. He said, "The committee headed by SBI Chairman O P Bhatt which is looking into the changes required in the regulatory framework for creating IDF would submit its report by next week." Main Page General www.indiape.com http://www.indiape.com/blog/_archives/2010/8/24/4612803.html http://www.indiape.com/blog/_archives/2010/8/24/4612803.html Tue, 24 Aug 2010 22:35:22 +0530 Hoping to cash in on infrastructure development in the country, large private equity firms are making a beeline for the sector. The road sector, especially, has been increasingly attracting the attention of private equity players, as infrastructure in general and roads in particular feature on the government’s immediate execution agenda. The 11th Plan has set a $500-billion target for infrastructure spending and this is expected to increase to $1 trillion in the 12th Plan. Norwest Venture Partners and The Xander Group Inc last week invested about Rs 400 crore in Sadbhav infrastructure, an EPC player in the infrastructure sector involved in the development of highways and road projects. According to the reports, Nandi Infrastructure Corridor Enterprises (NICE), which is developing the 164-km toll way between Bangalore and Mysore, is currently in talks with PE players to raise around $100 million. In a recent deal, private equity major Actis in April 2010 formed a $200 million joint venture with Tata Realty & Infrastructure to develop roads and highways. India Venture Advisors in May 2010 also invested Rs 50 crore in C&C Constructions, a player in roads and highways. Main Page General www.indiape.com http://www.indiape.com/blog/_archives/2010/8/24/4612789.html http://www.indiape.com/blog/_archives/2010/8/24/4612789.html Tue, 24 Aug 2010 22:15:15 +0530 Delhi-based private security services firm Security & Intelligence Services (SIS) plans to raise $100 million through a sale of shares to a private equity firm partly to fund its expansion and retire high-cost debt, said a top company executive. Founded by first-generation entrepreneur Ravindra Kishore Sinha in 1974, SIS is one of the largest manpower security firms in the Asia-Pacific region with revenues of around `1,500 crore. The promoters hold 86% stake in the company and the rest is owned by the global hedge fund DE Shaw. While DE Shaw is likely to part exit, the rest of the stake sale will be through issue of fresh shares that will bring down promoters’ holding to 75%. The funds will be used for both organic and inorganic growth plans and to deleverage balance sheet, said Rituraj Sinha chief operating officer of SIS. “We intend to consolidate our position in the market before going public,” he said. The fund raising exercise is expected to be complete before December. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/8/24/4612783.html http://www.indiape.com/blog/_archives/2010/8/24/4612783.html Tue, 24 Aug 2010 22:08:37 +0530 Gensol Consultants Pvt. Ltd., one of the leading carbon consultancies in India has successfully raised capital for 15-20% stake to a US based venture capital firm, India Venture Partnership Ltd., managed by India Venture Partnership Management, a Mauritius GBL1 company, with the deal being of an enterprise value within the range of $4-$6 million. Expressing his delight on this transaction Mr. Anmol Jaggi, Director, Gensol Consultants Pvt. Ltd stated, "There is a landscape of opportunities for carbon advisory firms with the topical issues of global warming and climate change experiencing heightened focus by both public and private domain. The post-2012 market is also expected to gain momentum with an augmented demand and supply of carbon credits and number of new emerging schemes being introduced by various developing countries in order to meet their targets. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/8/24/4612781.html http://www.indiape.com/blog/_archives/2010/8/24/4612781.html Tue, 24 Aug 2010 22:05:36 +0530 Muthoot Finance (MFIN), on Monday, announced that it has raised Rs 43 crore in the second round of institutional funding from Kotak India Private Equity Fund (KIPEF) for a minority stake in the company. This capital infusion will strengthen the company’s capital base, it said in a release here. During the first round of institutional funding, Muthoot raised Rs 157 crore from two leading PE namely Baring Private Equity Partners India and Matrix Partners India for a four per cent stake. Currently, MFIL has a gross loan book exceeding Rs 10,000 crore and more than 1,800 branches across the country. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/8/20/4609762.html http://www.indiape.com/blog/_archives/2010/8/20/4609762.html Sat, 21 Aug 2010 00:20:07 +0530 GVK Power & Infrastructure is planning to raise US$280 mn (Rs 13bn) from private equity majors 3i Group plc and Actis, according to a report. 3i Group plc and Actis are investing US $140 mn into the company, says reprot. The report stated that company is expanding its power business and has lined up a slew of power projects and the equity would fund this expansion. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/8/20/4609759.html http://www.indiape.com/blog/_archives/2010/8/20/4609759.html Sat, 21 Aug 2010 00:16:14 +0530 3i Group plc and Actis are investing US $140 mn into the company GVK Power & Infrastructure is planning to raise US$280 mn (Rs 13bn) from private equity majors 3i Group plc and Actis, according to a report. 3i Group plc and Actis are investing US $140 mn into the company, says reprot. The report stated that company is expanding its power business and has lined up a slew of power projects and the equity would fund this expansion. Rate This Article Average rating : 5.0 Thank you for the rating. You have already rated ! Kalpathi Investments has picked up 45% stake for Rs 5.1 crore in the Chennai-based Primex healthcare, which has plans to set up over 50 premium quality diagnostic facilities at affordable cost across Tamil Nadu over the next 12 months. It will start setting up scans and lab facilities in six locations in Chennai, before expanding into other cities and towns in the State. The Indian diagnostic services industry is projected to grow at a CAGR of over 20% in the next three years. Targeted at all income groups starting from the lower-middle to the upper income group and corporates, Primex plans to offer high-end 1.5T MRI, multi-slice CT, high frequency digital X- ray, 3D ultrasound systems, computerised ECG, treadmill, PFT and EEG. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/8/20/4609755.html http://www.indiape.com/blog/_archives/2010/8/20/4609755.html Sat, 21 Aug 2010 00:10:00 +0530 This is a story of one port, many funds and negative returns after a decade’s wait—a long-term infrastructure story gone wrong. A private equity (PE) fund managed by AMP Capital Investors of Australia is set to make a substantial loss as it sells a part of its investment in Gujarat Pipavav Port Ltd in the latter’s initial public offering (IPO). It is not alone. There are quite a few other funds that are not happy with their investment in the port operator. In a rare loss-making exit through an IPO in the infrastructure sector, the 11-year-old India Infrastructure Fund Llc will see a 27% erosion in the value of its investment if the issue, which opens on Monday, gets priced at the upper end of the `42-48 price band. At this price, India Infrastructure Fund’s loss will be `18.45-24.45 per share. India Infrastructure Fund was launched in 1999 under a joint management agreement between AMP Capital and the erstwhile Unit Trust of India, or UTI. In 2001, the fund bought 5.9 million shares in Gujarat Pipavav Port for `47 crore at `80 apiece. Main Page India PE Fund News www.indiape.com http://www.indiape.com/blog/_archives/2010/8/20/4609752.html http://www.indiape.com/blog/_archives/2010/8/20/4609752.html Sat, 21 Aug 2010 00:05:17 +0530 Elephant Capital, a private equity firm led by Dabur group promoter Gaurav Baurman, today said it has acquired a minority stake in clinical research firm ClinTec International for 8 million pounds (Rs 58 crore). "Through this investment, Elephant has entered the attractive clinical research base, where ClinTec operates as a global provider of outsourcing solutions addressing the drug development lifecycle," the company said in a statement. It, however, did not disclose the exact amount of stake picked up by the private equity firm. Burman, who is the Managing Partner of Elephant Capital, and James Hauselein a non-executive director of the firm, have also made personal co-investments of 150,000 pounds (Rs 1.09 crore) and 200,000 pounds (Rs 1.45 crore) respectively in the transaction, it added. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/8/20/4609749.html http://www.indiape.com/blog/_archives/2010/8/20/4609749.html Sat, 21 Aug 2010 00:03:21 +0530 U.S. billionaire investor George Soros has contributed to the Stock Exchange Bombay. Soros Quantum hedge fund had acquired a 4% share of Asia’s oldest exchange, Dubai Financial, said a spokesman for the Bombay Stock Exchange on Friday. For more details, he did not name . One person familiar with the matter that put the investor for the participation of about 380 INR ( the equivalent of $ 8.2 ) per share or a total of about USD 34 million on the table. This is the exchange rate with a total of around 850 million USD. Representatives of Quantum and Dubai Financial were not immediately be reached for comment. At the Bombay Stock Exchange was founded in 1875 more than 4,900 companies are listed . As of 18th June was the public shareholding in the stock market at 56.37 %, the remaining shares were held by exchange members and their associates , as is evident from data on the stock exchange website. Main Page India Private Equity Deals www.indiape.com http://www.indiape.com/blog/_archives/2010/8/18/4607905.html http://www.indiape.com/blog/_archives/2010/8/18/4607905.html Wed, 18 Aug 2010 22:31:08 +0530 IL&FS Investment Managers (IIML), the country’s largest private equity fund, is close to exiting at least six of its investments, mainly in the real estate sector by the end of the current fiscal. The private equity firm, with over $2.8 billion of assets under management, will raise around Rs 1,500-2,000 crore through the exits, which are mainly due to the maturing of the investment horizon, according to vice chairman Shahzaad Dalal. The returns could average 25-30% from the real estate investments that were made about five years ago. “We hope this is the right time to unlock few of our investments. We have already identified three real estate investments for exit and are evaluating a few more,” said Mr Dalal. However, he refused to disclose the name of the companies. This move has come at a time when real estate sector has started looking up and ready to provide better returns on investments. Main Page India PE Fund News www.indiape.com http://www.indiape.com/blog/_archives/2010/8/18/4607902.html http://www.indiape.com/blog/_archives/2010/8/18/4607902.html Wed, 18 Aug 2010 22:24:04 +0530 Private equity (PE) players are again ready to look at small and medium enterprises (SMEs). “The conservativeness of investing in the secular sector has faded and PE players are ready to put their money in emerging areas with high growth rates,” said Sharath Naru, managing partner of PE firm Ventureast. In the economic downturn, most PE firms invested in secular sectors like health care, pharma and agri industries to protect their corpus. Now, investors are increasingly looking at high-growth verticals such as technology and renewable energy. Ventureast, which invests around $5 million in the first round and has a investment horizon of five to seven years, is also betting big on these verticals, says Naru. Naru said the firm had closed two new deals this financial year with the second round of funding for another two companies expected this fiscal. “We expect to close six deals this fiscal,” he added. Main Page General www.indiape.com http://www.indiape.com/blog/_archives/2010/8/18/4607894.html http://www.indiape.com/blog/_archives/2010/8/18/4607894.html Wed, 18 Aug 2010 22:15:48 +0530 ANC Holdings LLC, the Dubai based conglomerate with business interests in construction, foods, education, trading, hospitality, process and real estate, has acquired a 10 per cent stake in troubled India Steel Works Limited (ISWL) in an all-cash deal worth Rs 190 million. This is the company’s second biggest acquisition in a month, among a series of others announced this year. ANC Holdings also plans to expand its shareholding in the Mumbai-based steel company within a year, to improve its prospects, an official told Indian media. “We will definitely look forward to buying more stake in ISWL. Probably, in a year’s span, we’ll purchase more equity and also ensure that the company expands capacity,” Mahesh K Sheregar, a director with ANC Holdings was quoted by Economic Times. Sheregar has already joined the ISWL board. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/8/18/4607891.html http://www.indiape.com/blog/_archives/2010/8/18/4607891.html Wed, 18 Aug 2010 22:11:13 +0530 Aiming to strengthen its presence in commodity trading business, Anil Ambani group is looking at acquiring 26 per cent stake in Indian Commodity Exchange (ICEX) from one of the promoters Indiabulls group. Indiabulls has also approached sector regulator Forward Markets Commission (FMC) seeking its nod for sale of 26 per cent stake to ADAG firm Reliance Exchange Net. When contacted, FMC Chairman B C Khatua told PTI that commodity market regulator has been approached by the ICEX, but it is yet to take any call on that. ICEX Managing Director and CEO Ajit Mittal also confirmed talks with Reliance Exchange Net, but added that nothing has been finalised as yet. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/8/18/4607884.html http://www.indiape.com/blog/_archives/2010/8/18/4607884.html Wed, 18 Aug 2010 21:59:32 +0530 Optical media equipment major Moser Baer's power subsidiary Moser Baer Projects Private Limited (MBPPL) Wednesday said it has attracted an investment of Rs.1,350 crore from Blackstone. The company, which is building a number of thermal, solar and hydro power projects, plans to commission 5,000 MW by 2016. "This will enable us to deliver reliable and affordable power that India needs to support its continued economic growth," said MBPPL Founder Deepak Puri. Blackstone officials said the energy sector is an attracttive long-term investment destination. Main Page India Private Equity Deals