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TPG, Carlyle in talks to buy $100m ABD stake

Marquee investors Carlyle Group and TPG Capital are the frontrunners to acquire a $100-million minority stake in India’s third largest distiller, Allied Blenders & Distillers (ABD), makers of Officer’s Choice whiskey, said people directly familiar with the matter.

Liquor baron Kishore Chhabria owns 95% stake in the unlisted company, with an asking valuation of at least $750 million. Industry veteran and chief executive Deepak Roy has a 5% equity interest.

ABD has mandated investment bank Ambit Holdings to […]

New Silk Route to buy 51% stake in Moshe’s cafe

Private equity firm New Silk Route (NSR) is set to acquire Mumbai’s cafe and restaurant chain, Moshe’s. The USD 1.4-billion India-focusede fund will buy over 51 per cent stake in Moshe’s and ramp it up as the food services provider charts national expansion plans in the next few years, as per a report by Samidha Sharma & Boby Kurian in The Times of India.

The 44-year-old Moshe Shek started the SoBo (South Bombay) chain in Cuffe Parade a decade ago. […]

Omani fund plans to acquire stake in NCDEX

Oman Investment Fund (OIF) is in an advanced stage of discussion with Jaypee Capital Services for acquiring 9.7 per cent stake in India’s agricultural futures exchange — National Commodity and Derivative Exchange Limited (NCDEX), according to a newspaper report.

India’s Economic Times said that Delhi-based broker Jaypee Capital Services, the anchor investor in NCDEX, is in advanced talks with domestic and foreign private equity players to sell a chunk of its 22.4 per cent stake in the bourse. The shareholder, […]

Baring Asia to buy 42% stake in Hexaware for Rs.1,600 crore

Affiliates of Baring Private Equity Asia have agreed to pay as much as Rs.1,687 crore to buy a controlling stake inHexaware Technologies Ltd from the software services company’s founder-chairman Atul Nishar and GA Global Investments Ltd in one of the biggest transactions in India’s information technology (IT) sector. Baring will buy Nishar’s 27.7% stake and 14.1% from GA Global, an affiliate of private equity (PE) firm General Atlantic, Hexaware said in a statement on Friday. Nishar will remain non-executive chairman […]

Kotak PE eyes 20% stake in Hyderabad-based SemanticSpace Technologies

Kotak Private Equity is in talks to pick up an over 20% stake in Hyderabad-based SemanticSpace Technologies (SST), marking its return to the IT/ITeS sector, said multiple sources briefed on the transaction.

The investment will see Kotak buy out the 18% stake held by financial investors Ascent Capital and New Vernon, besides acquiring some primary shares. The deal values SemanticSpace, founded by serial entrepreneur Satya Bolli, at $75 million or about Rs 500 crore.

SST provides application services, […]

Carlyle in talks to buy 28% stake in Trehan’s hospital

Global private equity (PE) major Carlyle is in talks with renowned cardiac surgeon Dr Naresh Trehan to acquire a minority stake in his Gurgaon-based multi-super speciality hospital, Medanta -The Medicity. According to people in the know, Carlyle is keen to acquire 28 per cent stake of Avenue Capital, along with another 10-15 per cent stake owned by Trehan.

Trehan holds 55 per cent stake in Global Hospitals, which owns Medanta, while construction major Punj Lloyd owns another 17 per cent […]

Idea Cellular in talks with PE firms to raise money

Telecom operator Idea Cellular is in talks with private equity firms to raise fund, a top official of the company said on Wednesday.

“I have had chance in last 15 days to meet serious investors, including Fidelity, Blackrock. Almost everybody is taking it (penalty) as part of debt equity for companies, affecting our ability to raise more cash flow,” Idea Cellular Managing Director Himanshu Kapania said at an open house discussion chaired by Telecom Minister Kapil Sibal here.

When contacted […]

Blackstone to Buy Indian Auto Parts Maker Agile Electric

U.S. private equity firm Blackstone Group LP (BX) has agreed to buy a 98% stake in Indian auto parts maker Agile Electric Sub Assembly Pvt. for 3.32 billion rupees ($56.1 million), triggering a tender offer for a 26% stake in Agile Electric’s locally-listed venture Igarashi Motors India Ltd. (517380.BY), said the manager of the tender offer Wednesday. Blackstone will further invest $33.8 million in the two Indian companies, a person familiar with the matter said late Wednesday. Agile Electric owns […]

Mukesh Ambani picks up stake in Epic TV

Billionaire industrialist Mukesh Ambani has turned a venture capitalist and is backing a new television channel Epic TV due to go on air next month. Epic TV is a niche high-definition channel, which will have content based on the nation’s history, folklore and mythology in a contemporary format. Set up last October, Epic Television Network is being led by Mahesh Samat, former managing director of Walt Disney Company, who had left the US major last year after a four-year stint. […]

Goldman Sachs Fund Invests $135 mln in India’s ReNew Power

A private equity fund run by Goldman Sachs has invested $135 million in unlisted Indian wind energy firm ReNew Power Pvt Ltd, making it one of the largest renewable energy investors in India, Reuters reported. (Reuters) – A private equity fund run by Goldman Sachs has invested $135 million in unlisted Indian wind energy firm ReNew Power Pvt Ltd, a company official said, making it one of the largest renewable energy investors in India. The Wall Street bank’s private equity […]