http://www.indiape.com/blog INDIA PRIVATE EQUITY - Private Equity information for investors looking at Indian Private Equity space en-us Mon, 08 Feb 2010 21:09:49 +0530 Main Page Blogware www.indiape.com http://www.indiape.com/blog/_archives/2010/2/8/4450493.html http://www.indiape.com/blog/_archives/2010/2/8/4450493.html Mon, 08 Feb 2010 21:38:36 +0530 Merger and acquisition activity in the country more than doubled in the first month of 2010 as deals worth nearly USD 3 billion (about Rs 13,950 crore) were announced amid improved signs of liquidity, a study said. According to the monthly deal report of VCEdge, a financial research provider, the M&A deal value during January 2010 stood at USD 2.8 billion, a whopping 126 per cent rise over the same period last year. In terms of deal count there was also an upward trend, as there were around 53 deals in the first month of the year, as compared to 32 deals witnessed during a year-ago period, the report added. Main Page General www.indiape.com http://www.indiape.com/blog/_archives/2010/2/8/4450491.html http://www.indiape.com/blog/_archives/2010/2/8/4450491.html Mon, 08 Feb 2010 21:36:22 +0530 Private equity funds are looking at emerging markets as their investment destination in 2010, and India has emerged as the second most preferred country after China for investment, says a survey. According to a survey by global PE research firm Preqin, the Asian countries are receiving considerable investor interest, with 45 per cent of respondents saying that this region is attractive at present. Supported by strong fundraising targeted at the country for the past couple of years, China was voted as an area of interest by just over half of respondents, followed by India for which 41 per cent voted in favour, Preqin said. Main Page General 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/2010/2/8/4450480.html http://www.indiape.com/blog/_archives/2010/2/8/4450480.html Mon, 08 Feb 2010 21:22:12 +0530 Private equity investments in India doubled in the first month of this year, as deals worth over $386 million were announced amid improving signs of liquidity, a study says. According to the monthly deal update report of VCEdge, a financial research provider, private equity deal value in India was at $386 million in January 2010 against $191 million in January 2009. The deal volume, however, was virtually unchanged with 25 deals recorded past month, one less than what was registered in the same month last year. Main Page General www.indiape.com http://www.indiape.com/blog/_archives/2010/2/8/4450472.html http://www.indiape.com/blog/_archives/2010/2/8/4450472.html Mon, 08 Feb 2010 21:11:36 +0530 CNBC-TV18 learns that Idea Cellular, which holds 16% stake valued at USD 600-800 million in Indus Towers, is in preliminary talks to sell part or whole of its stake in the company India's top mobile operator Bharti Airtel, Vodafone Essar and Idea Cellular in late 2007 had decided to pool their resources and hived off their towers into an independent firm, Indus Towers—the world’s largest tower company with over one lakh towers. Post the joint venture Vodafone and Bharti held 42% stake each while Idea held 16%. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/2/8/4450469.html http://www.indiape.com/blog/_archives/2010/2/8/4450469.html Mon, 08 Feb 2010 21:06:37 +0530 ICICI Prudential Life Insurance said one of its investment arms may acquire 40% stake, for over Rs.100 crore, in a residential project of the Ansal API group in Ghaziabad, reports say, quoting investment banking sources, Business Standard reported. The residential project is a part of Ansal API's township project, Aquapolis. It is spread over 130 acres and has around 45 towers, with a total of 2,500 units. The project will be formed into a joint venture, in which Ansal Landmard, a group company of Ansal API, and an investment arm of ICICI Pru, will be partners, sources said. Ansal API is bringing in investors to complete the projects ahead of schedule. The projects were delayed due to slowdown in the realty sector. Main Page India PE Fund News www.indiape.com http://www.indiape.com/blog/_archives/2010/2/8/4450442.html http://www.indiape.com/blog/_archives/2010/2/8/4450442.html Mon, 08 Feb 2010 20:30:53 +0530 Punjab National Bank has bought a controlling stake in the small Kazakh lender Danabank, the two banks said on Monday. The lenders did not say how much PNB had paid for the stake. "The joint bank plans to focus on financing small and medium-sized businesses in Kazakhstan, particularly in the agricultural sector," they said in a statement. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/2/5/4447692.html http://www.indiape.com/blog/_archives/2010/2/5/4447692.html Fri, 05 Feb 2010 15:38:34 +0530 Istithmar World Capital, the investment arm of Dubai World, has sold its entire 13.4 per cent holding in budget airline SpiceJet, a source with direct knowledge of the deal said on Friday. Istithmar sold its stake via two block deals for a total consideration of around 1.6 billion rupees to a couple of domestic funds and an FII, the source said, which three other bankers confirmed. Bank of America Merrill Lynch was the sole arranger of the deal, they said.(ET) Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/2/4/4447095.html http://www.indiape.com/blog/_archives/2010/2/4/4447095.html Thu, 04 Feb 2010 22:10:10 +0530 Citigroup is planning to sell its 5 per cent stake in India’s largest commodities exchange group for about $40m to Ashmore, the emerging markets specialised asset manager, people close to the matter said. The move to leave the Multi Commodity Exchange of India comes at a 10 per cent loss for the US bank that acquired its stake two years ago during a period of boom at $50m from Financial Technologies India, which controls the exchange. A person close to the US bank said the move is in line with Citigroup’s broader strategy to divest non-core assets and not a sign that the group is retreating from India. Another person close to the exchange confirmed that Citigroup was planning to leave. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/2/4/4447089.html http://www.indiape.com/blog/_archives/2010/2/4/4447089.html Thu, 04 Feb 2010 22:05:42 +0530 Ascent Capital, an established Indian private equity firm focused on growth capital, has closed its Ascent India Fund III with commitments of $350 million. In an extremely challenging year for private equity fund raising where many funds announced fund-raising plans, Ascent Capital is one of the few that have succeeded in closing a fund on schedule. Ascent Capital has an association with UTI Ventures and the present assets under management by Ascent Capital are about $600 million. It is learnt that Ascent India Fund III was over-subscribed, but the limited partners were not in favour of increasing the hard cap beyond what they believed to be the optimal fund size. Industry sources attribute the success of Ascent Capital in raising funds to their relatively better track record in their previous funds. Main Page India PE Fund News www.indiape.com http://www.indiape.com/blog/_archives/2010/2/4/4447083.html http://www.indiape.com/blog/_archives/2010/2/4/4447083.html Thu, 04 Feb 2010 21:55:32 +0530 Dalmia Cement (Bharat) Ltd will raise $100 million by March through stake sale in subsidiary Dalmia Cement Ventures Ltd, its managing director said on Thursday. "We have been talking to private equity players and we think we can make an announcement this quarter," Puneet Dalmia told Reuters in an interview, adding the fund will be used to set up 5 million tonnes cement plant. Main Page Corporate Action 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/2010/2/4/4447073.html http://www.indiape.com/blog/_archives/2010/2/4/4447073.html Thu, 04 Feb 2010 21:46:29 +0530 Advanta India Ltd today said its US subsidiary has acquired the assets and business of Texas-based Crosbyton Seed Company (CSC). CSC is a leading breeder, producer and conditioner of hybrid sorghum planting seed products including grain sorghum, forage sorghum, millet and sunflower, a company statement said. However, no financial details of the deal were divulged. In 2008, the company had acquired the business of US-based Garrison and Townsend Seed Company, it added. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/2/2/4445369.html http://www.indiape.com/blog/_archives/2010/2/2/4445369.html Tue, 02 Feb 2010 23:23:28 +0530 Suzlon Energy Ltd. plans to sell its 26 percent stake in Belgium-based Hansen Transmissions International NV, the Economic Times reported. Two private equity firms, including a U.S.-based energy fund, are in the race to buy the stake, which is estimated to fetch $400 million to $500 million, the newspaper said, citing people familiar with the development that it didn’t name. (Bloomberg) Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/2/2/4445354.html http://www.indiape.com/blog/_archives/2010/2/2/4445354.html Tue, 02 Feb 2010 23:10:15 +0530 India’s education and training market is a $40-billion opportunity for investors. Around 350 private equity and venture capital (PE/VC) firms in India are looking at the education sector. Sitting over $10 billion, they plan to invest $500 million (Rs 2,300 crore) in the sector. India’s education and training market was a $40-billion opportunity for investors with schools and colleges capable of attracting around $28 billion, said PE players. No wonder investments in the sector are likely to double in 2010 compared to 2009. The sector figures among the top three investment destinations among PE players. In 2009, PE investments in education saw a three-fold rise. According to data from Grand Thornton, PE investments in the sector went up from $35 million in 2008 to $108 million till October 2009. Main Page General www.indiape.com http://www.indiape.com/blog/_archives/2010/2/2/4445349.html http://www.indiape.com/blog/_archives/2010/2/2/4445349.html Tue, 02 Feb 2010 23:08:21 +0530 Prysmian acquires 51% of Ravin Cables LTD, active in India and in the United Arab Emirates The new JV gives Prysmian a manufacturing presence in two high-potential markets, particularly in the high added value utilities business. The Prysmian Group, a world leader in the energy and telecommunications cables industry, has taken a majority 51% controlling stake in the Indian group of Ravin Cables for an overall investment of around 26 million euro. With turnover of around 45 million euro in the financial year april 2008 – march 2009 and EBITDA of 4.4 million euro, Ravin is one of India's most competitive and reputed cable manufacturers, with a range including low and medium voltage cables and a market that also extends to Africa and the Middle East. Apart from its principal manufacturing facility in Pune, near Mumbai, Ravin is also present in the Emirate of Fujairah with the company Power Plus Cable Co LLC, a joint venture with the Government of Fujairah, and for which it is in charge of operational management. Power Plus is already equipped to produce high voltage cables. The group has a total of 355 employees in its two facilities in India and the Arab Emirates. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/2/2/4445344.html http://www.indiape.com/blog/_archives/2010/2/2/4445344.html Tue, 02 Feb 2010 23:05:52 +0530 After a lacklustre 2009, when private equity (PE) fund raising was low, India-focused PE funds are set to raise nearly $2 billion in the first half of 2010. UTI Ventures, Multiples, floated by Renuka Ramnath, ex-CitiVenture Ajay Relan’s CX Partners and Everstone Partners are close to raising nearly $2 billion overall. Industry sources said Ramnath had raised nearly $300 million of the targeted $450 million while UTI Ventures was set to close a $350-million fund. “Ajay Relan, who led Citigroup’s venture arm for a long time, is raising $400 million and is understood to have managed his first closure of $225 million. Everstone Capital, a spinoff from Future Group, is on track to raise nearly $300 million,” a source in the know told Business Standard. Main Page General www.indiape.com http://www.indiape.com/blog/_archives/2010/2/1/4444457.html http://www.indiape.com/blog/_archives/2010/2/1/4444457.html Mon, 01 Feb 2010 22:35:11 +0530 The evergreen and recession-proof characteristics of the education sector are drawing interest among private equity firms. Billed to be a $80-billion market, the number of private equity deals in the education space has grown four-fold in the last four years. According to Venture Intelligence, a Chennai-based research firm focused on private equity and mergers & acquisitions, eight deals worth $121 million were sealed in 2009, compared with just two deals worth $73 million in 2006. The first educational institute to get venture capital funding in India was Career Launcher from Intel Capital as early as in 2000. And last week, India Equity Partners invested Rs 172 crore for a 26% stake in IL&FS Education and Technology Services, which provides training to schools, colleges and to the government and corporate sector. Main Page General www.indiape.com http://www.indiape.com/blog/_archives/2010/2/1/4444432.html http://www.indiape.com/blog/_archives/2010/2/1/4444432.html Mon, 01 Feb 2010 22:05:59 +0530 Private equity transactions in India fell by a significant 68 per cent in 2009 as investors resorted to a wait and watch approach amid the slowdown. According to a report by global consultancy firm Grant Thornton, there were 206 deals in 2009 with a total announced value of USD 3.44 billion (Rs 15,953 crore), a fall of 68 per cent from the year ago period (2008) when as many as 312 deals worth USD 10.59 billion were announced. There was, however, an upsurge in fund raising activity through institutional placement. "In the absence of active private equity participation, several large companies turned to qualified institutional placement (QIPs) to fund their renewed acquisition appetite. Main Page General www.indiape.com http://www.indiape.com/blog/_archives/2010/1/30/4442506.html http://www.indiape.com/blog/_archives/2010/1/30/4442506.html Sat, 30 Jan 2010 14:03:44 +0530 Delhi-based e-learning solutions provider Educomp Solutions plans to acquire StudyPlaces.com, which is owned by Zaptive Internet Services. Under the deal, Educomp will buy the domain name and other existing contracts of Zaptive and will allot equity shares on a preferential basis of up to $1.5 million in exchange. StudyPlaces helps students find, compare, evaluate and then select the right course, institute and country for their further study. In January 2008, StudyPlaces.com raised $3 million from venture capital firms Kleiner Perkins, Caufield and Byers (KPCB), Ram Shriram's Sherpalo Ventures and the internet company Info Edge India (the Naukri.com group), with each entity investing $1 million in the company. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/1/30/4442497.html http://www.indiape.com/blog/_archives/2010/1/30/4442497.html Sat, 30 Jan 2010 13:56:00 +0530 BTS Investment Advisors, a Zurich-headquartered private equity firm that specialises in investments in India, is reportedly readying the launch of a new $150m fund. The firm BTS is looking to inaugurate the fund before April 2010, and aims to reach the $150m mark within a year. The fund will target companies in the wind, biomass, water and energy equipment fields in India. Additional funds managed by the firm include a $22m Swiss technology fund and a $75m India-targeted private equity fund. Notable investors in the firm’s funds include Asian and European governments and the Asian Development Bank. Main Page India PE Fund News www.indiape.com http://www.indiape.com/blog/_archives/2010/1/30/4442491.html http://www.indiape.com/blog/_archives/2010/1/30/4442491.html Sat, 30 Jan 2010 13:45:42 +0530 mediate Capital Group (ICG) on Friday bought a 47% stake in legal process outsourcing firm CPA Global, a Channel Island-based firm with over half of its 1,500 employees working out of Gurgaon and Noida in the national capital terrirory. A privately held firm, CPA Global is one of the largest legal services outsourcers in the world with over a billion dollars in revenue . London-based ICG bought the stake in a deal reportedly valued at 440 million pound. Anand Sharma, CFO, Head of management services at India for CPA Global, told ET that the buyout will benefit India operations. “ICG has been a long-term investor , and legal services outsourcing being a core business driven out of India, will get a boost. We plan to increase our India headcount to 1,000 employees by July this year,” he said. Main Page India PE Fund News www.indiape.com http://www.indiape.com/blog/_archives/2010/1/30/4442489.html http://www.indiape.com/blog/_archives/2010/1/30/4442489.html Sat, 30 Jan 2010 13:43:16 +0530 With the disinvestment of DPSC, an erstwhile subsidiary of Andrew Yule being complete, the SREI-led consortium, the new owner of the company with a 57.17 per cent stake, on Friday reconstituted the board. Orbis Power Ventures, the Special Purpose Vehicle floated by Srei to acquire DPSC, will now make an open offer for 20 per cent additional stake in DPSC on Saturday itself, Hemant Kanoria, Chairman-cum-Managing Director, Srei told Financial Chronicle. Kanoria said that they had paid the entire amount of Rs 171.85 crore to Andrew Yule, LIC and United India Insurance, who had offloaded their stakes in the company. LIC and United India Insurance hold 30.61 per cent and 11.36 per cent in DPSC, respectively, while Andrew Yule enjoys a 15.2 per cent stake. This coincided with the Supreme Court on Friday quashing and refusing to admit two pending cases: one by Descon, the largest shareholder in DPSC, and the other by the Trinamul Congress backed DPSC union in this regard. Main Page Corporate Action 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/2010/1/28/4441062.html http://www.indiape.com/blog/_archives/2010/1/28/4441062.html Thu, 28 Jan 2010 21:53:41 +0530 BTS Investment Advisors, a private equity fund based in Zurich and Mumbai, plans to start a $150 million fund to invest in Indian clean energy companies amid rising interest in green power to fuel Asia’s top economies. BTS expects to start the fund by April with an initial $60 million and increase that to $150 million over the next year, Managing Partner K. Srinivas told Bloomberg News by phone. Clean-energy investment in Asia surpassed the Americas for the first time in 2009 as economic growth and reduced losses from the subprime crisis allowed greater spending, data from Bloomberg New Energy Finance showed. The region is home to the world’s two fastest-growing major economies, China and India, which are also among the four biggest polluters. Main Page India PE Fund News www.indiape.com http://www.indiape.com/blog/_archives/2010/1/28/4441059.html http://www.indiape.com/blog/_archives/2010/1/28/4441059.html Thu, 28 Jan 2010 21:50:45 +0530 Aptech Ltd has announced that the Board of Directors of the Company at its meeting held on January 27, 2010, inter alia, has approved the proposal to acquire upto 100% of the share capital of Maya Entertainment Ltd, subject to the execution of necessary definitive agreements. Subject to approval of the shareholders of the Company in general meeting, the Board of Directors of the Company has approved the Preferential Issue of upto 22,50,000 equity shares having a face value of Rs. 10/- each ("New Shares") subject to the guidelines prescribed under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 by the Company to certain shareholders of Maya Entertainment Ltd as a part consideration of acquisition of the shares of Maya Entertainment Ltd. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/1/28/4441057.html http://www.indiape.com/blog/_archives/2010/1/28/4441057.html Thu, 28 Jan 2010 21:49:19 +0530 Private sector lender Yes Bank on Thursday said it has raised $225 million (about Rs 1,034 crore) through private placement of shares to institutional investors. "The issue of $225 million, was significantly oversubscribed on strong demand from foreign institutional investors and domestic mutual funds," Yes Bank said in a statement. The bank will issue 3.84 crore equity shares at Rs 269.50 per share to institutional investors under the Qualified Institutional Placement (QIP), which would raise the overall capital adequacy of the bank to over 20 per cent. Main Page Corporate Action www.indiape.com http://www.indiape.com/blog/_archives/2010/1/27/4440279.html http://www.indiape.com/blog/_archives/2010/1/27/4440279.html Thu, 28 Jan 2010 00:10:20 +0530 Biotechnology major Biocon’s clinical services arm Clingene is actively exploring an alliance with Mumbai-based clinical research organisation SIRO Clinpharm. “We are looking at an alliance with SIRO Clinpharm that could entail bundling of complementary services. While we have a human pharmacology unit they have data management services,” Biocon’s CMD Kiran Mazumdar Shaw said adding that “although these are ongoing discussions, no alliance has fructified yet.” SIRO’s head of corporate marketing, Aniruddh Patwardhan, also confirmed that the two companies had initiated talks some time back. Main Page Corporate Action 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/2010/1/27/4440270.html http://www.indiape.com/blog/_archives/2010/1/27/4440270.html Wed, 27 Jan 2010 23:56:44 +0530 Edelweiss today has entered into an agreement to acquire Anagram Capital for Rs.164 crores in an all cash transaction. With a nation-wide network of more than 137 branches and over 1300 sub brokers, Anagram has one of the widest geographical reach among retail broking firms. The company has more than 180,000 clients and estimated total revenues of Rs. 100 crores for the nine months ended December 31st 2009. The company's average daily equity trading volume is approximately Rs.800 crores. Edelweiss plans to operate Anagram as a 100 % subsidiary with clear focus on continuity and building on the current business and people with investments in research, products, training and technology. Main Page Corporate Action