Private equity firms Blackstone Group and Kohlberg Kravis Roberts & Co (KKR) are discussing a large stake buy in the cement unit of the Shiram Group, the Times of India reports.
Shriram EPC, which took controlling stake in Andhra Pradesh-based Sree Jayajothi Cements, plans to raise more than INR400 crore to boost operations. KKR already holds a stake in another Indian producer, Dalmia Cements. Another US private equity Mount Kellett also met with Shriram on the potential investment opportunity [...]
U.S. private equity firm Apollo Global Management and ICICI Venture, the private equity arm of No.2 Indian lender ICICI Bank, are close to raising $350 million to invest in distressed assets in India, two sources with direct knowledge of the matter told Reuters. Few funds in India specialize exclusively in distressed assets, but a sharp slowdown in economic growth is expected to create opportunities to invest in struggling companies. U.S. private equity firm Apollo Global Management LLC (APO.N) and ICICI [...]
Emerging market focused private equity fund, Capital International Private Equity Funds (CIPEF ), which is managed by Capital International, announced the final close of its $3-billion (Rs 16,140 crore) Capital International Private Equity Fund VI (CIPEF VI). According to the Emerging Markets Private Equity Association (EMPEA), CIPEF VI, is the largest global emerging markets private equity fund closed in the last five years. Capital International, part of the Capital Group Companies, is an institutional investment manager and has been investing [...]
Infrastructure Development and Finance Co is in the early stages of raising $1 billion-$1.5 billion for a new fund to invest in infrastructure in the country, two sources with direct knowledge of the matter told Reuters. The funds will be raised for IDFC Project Equity, in which Citigroup and India Infrastructure Finance Co., a state-owned infrastructure finance firm, are key investors, the sources said. The company already has a project equity fund, which manages about $930 million in roads, ports, [...]
The International Finance Corp. (IFC) has invested around $20 million in New Delhi-based Pragati India Fund, an investment firm that focuses on small- and medium-size enterprises (SMEs) in states such as Bihar, Rajasthan, Madhya Pradesh, Chhattisgarh, Jharkhand, West Bengal and Orissa. These low-income states are home to more than 400 million people but do not attract big private investments. “These states have been ignored, and there are perception issues,” said Narayanan Shadagopan, Pragati’s founder and managing director. “There is not [...]
Cisco has invested an undisclosed amount in Aavishkaar, a $120 million venture fund founded to promote development in rural and semi-urban India. Cisco will invest in the fund, Aavishkaar India II Company Ltd., and will “collaborate with other investors to drive sustainable business models with social impact,” the company said.
Reinforcing its commitment to country transformation and inclusive growth, Cisco today announced an investment in Aavishkaar, a venture fund founded to promote development in rural and semi-urban India. Cisco will [...]
Rabo Equity Advisors Pvt. Ltd, a farm and food-focused private equity (PE) firm, has invested Rs50 crore in Super Agri Seeds Pvt. Ltd. In a separate transaction, VenturEast Proactive Fund and Zephyr Peacock India agreed to invest Rs60 crore in e2E Rail, a services provider to railroad operators. While Hyderabad-based Super Agri Seeds is the eighth investment by Rabo Equity Advisors in India, it is the PE firm’s first investment in a seeds company, having acquired a significant minority stake. [...]
Warburg Pincus LLC exited a more than seven-year-old investment in Kotak Mahindra Bank Ltd. (KMB) The U.S. private equity firm, which first invested in Kotak in November 2004, sold 26.5 million shares in a block trade today, said Malini Roy, an external spokeswoman for Warburg. Roy declined to provide details of the sale. The shares represent about 3.6 percent of the bank, data compiled by Bloomberg show. The holding is valued at $272 million, based on Kotak’s March 23 closing [...]
Malaysia’s state investment arm, Khazanah Nasional, has sold its little more than 4 percent holding in India’s private sector lender Yes Bank for about $105 million, two sources with direct knowledge of the deal said on Monday. Khazanah sold the shares of Yes Bank in stock market block deals on Monday, said the sources, who did not want to be named as the information is not public yet. Khazanah and Yes Bank declined to comment. Credit Suisse was the sole [...]
Norwegian sovereign-wealth fund Norges Bank Investment Management has cut its stake in three Indian infrastructure companies including IVRCL Ltd. and Lanco Infratech Ltd. in the past two weeks, stock exchange filings showed Tuesday. Norges Bank Investment has reduced its holding in IVRCL to 6.39% from 7.61% by selling shares on the open market and in Lanco Infratech to 4.93% from 5.97%, the fillings showed. It has also marginally cut its stake in NCC Ltd. to 5.51% from 5.57%. IVRCL and [...]