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Avendus PE launches third PIPE fund

Avendus PE Investment Advisors Pvt. Ltd, a subsidiary of financial services company Avendus Capital, on Monday launched its third private investment in public equity (PIPE) fund, called Avendus India Opportunities Fund III. The fund is expected to have a corpus of Rs.500 crore. The company, in a statement, said there is huge scope in investing in listed entities as there are 3,000 regularly traded companies in India, of which more than 2,800 have a market capitalization of less than Rs.5,000 […]

India’s first social sector PE fund gets SEBI nod

India’s first social venture fund, Incube Connect Fund (Incube), has been accorded registration by market regulator Sebi, a company official said. The Ahmedabad-based social venture fund has been accorded registration by SEBI under SEBI Alternative Investment Fund (AIF) regulation 2012, a company statement said. Incube, a nine year 200 crore social sector fund, promoted by Incube Ventures (IVPL), will primarily focus on sectors of social relevance like healthcare delivery products and services, vocational education and skill development, clean energy and […]

TCG veteran to launch PE funds in realty, films

Bani Banerjee, a veteran of 17 years with The Chatterjee Group (TCG), is launching two private equity funds to tap opportunities in Indian real estate, hotels, and film and entertainment sector. Banerjee, who quit as executive director and chief investment officer of TCG Real Estate in mid 2012, is launching a $200 million (Rs 1,060 crore) special situations fund which will invest in both hotels and real estate sectors and Rs 200 crore film and entertainment fund. The special situations […]

ICICI Venture raises $700 mn in 2012

ICICI Venture (I-Ven), one of India’s largest private equity entities, was able to raise funds faster last year. In 2012, it successfully closed a $100-million (Rs500 crore) second real estate fund, the India Advantage Fund Real Estate Series 2. Through its real estate and other funds, it raised $700 million last year. I-Ven made two investments from the new realty fund. One was in a group housing project in the National Capital Region (NCR) region, being developed by Advance India […]

Private equity firms’ money stuck in Asian Genco projects

In May 2010, Singapore-based Asian Genco Pte Ltd announced it had secured investments worth $425 million from a clutch of marquee private equity (PE) funds, to invest in the Indian power sector. It was a big surprise. The funds included General Atlantic, Morgan Stanley, Norwest Partners, Everstone and Goldman Sachs, and not many had heard of Asian Genco. The financing by the PE biggies was the biggest equity transaction in the power sector till 2010 and touted as endorsing the […]

ICICI Venture eyes 100% gain in Express Towers exit

ICICI Venture, one of the largest private equity firms in the country, is looking to sell its 49 per cent stake in Indian Express Newspapers (Mumbai) Ltd (IENL), which manages Express Towers, located at Mumbai’s Nariman Point. ICICI Venture was currently in talks with a number of investors like Blackstone, two executives in the know of the plans said. It was looking at getting around Rs 1,000 crore for its stake, which is double the Rs 500-crore investment it had […]

Cbay’s Raman Kumar sets up venture fund

The Indian business process outsourcing industry in the recent times have been in news due to renewed interest shown by private equity industry. However, the one deal that missed creating the buzz was the acquisition of MModal, earlier known as CBay Systems, by One Equity Partners, JPMorgan’s PE partner for $1.1 billion.

The deal that was announced in July this year would be one of the large PE deal in the BPO space this year. A month after that, in […]

Piramal Group’s PE arm to raise Rs 1,000-cr health care fund

India Venture Advisors, the private equity arm of Piramal Enterprises Ltd, is set to raise a Rs 1,000-crore health care-focused fund. The Rs 500-crore fund, with an over-allotment of Rs 500 crore, will be launched officially within a month. India Venture, founded in 2007 by Ajay Piramal and A K Purwar, former chairman of State Bank of India, has its focus on health care and life sciences investments. The fund, India Venture Advisors Fund II, will be raised from domestic […]

KKR, Apollo in race for stake in Godrej Agrovet

The fundraising plan of Godrej Agrovet Limited (GAVL) is turning into a hot race as more private equity players are entering into the fray. In a latest development, global private equity majors -Kohlberg Kravis Roberts (KKR) and Apollo Global management LLC have evinced interest to buy stake in the Mumbai-based Agri-poultry business firm.

According to sources in the know, KKR and Apollo are in early stages of discussion with Godrej Agrovet management and more private equity players have shown interest […]

Carlyle exits HDFC stake in India with $841 million sale

Carlyle Group LP has raised $841 million in India’s fourth-biggest equity deal this year by selling its remaining 3.7 percent stake in the country’s top mortgage lender, Housing Development Finance Corp Ltd (HDFC), said a source with direct knowledge of the deal. The sale marks the US private equity firm’s exit from HDFC after nearly doubling its original 2007 investment of $650 million with this latest sale and one in February that raised $270 million. The HDFC share sale came […]