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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. […]

NRI picks up 5% stake in Federal Bank

The NRI businessman and managing director of the Abu Dhabi-based EMKE Group, has picked up 4.98 per cent share in the Kerala-based Federal Bank. The value of the stake is roughly Rs 400 crore and Yusuff Ali will now be the largest individual shareholder, sources said. Yusuff Ali is one of the richest NRIs, with extensive business operations in West Asia. EMKE Group runs the LuLu Hypermart chain that has branches in the Gulf and many Asian and African countries. […]

Temasek, Abu Dhabi fund, Ontario invest $250 mn in Kedaara Capital

The environment might be tough for private-equity (PE) fund managers struggling to raise their debut funds, but Manish Kejriwal has managed to buck the trend. Kedaara Capital, founded by the former head of Temasek India, has successfully roped in some of the largest sovereign funds, such as Temasek Holdings and Abu Dhabi Investment Authority (ADIA).

According to sources, Kedaara Capital raised $500 million last month. About half the amount has come from major investors including Temasek, ADIA and Canada’s Ontario […]

PE deals’ valuation surged to $1.8 bn in May: Grant Thornton

The valuation of private equity deals surged significantly in May to USD 1,851 million driven by Qatar Foundation Endowment’s USD 1.26 billion investment in Bharti Airtel.

According to audit and advisory firm Grant Thornton, the total PE deals during May were valued at USD 1,851 million through 31 transactions, as against USD 344 million from 26 deals in May 2012, taking the deal tally during the first five months of the current year to USD 4,395 million.

“Private equity deal […]

Indian Tire maker Apollo in deal to buy Cooper Tire

India-based Apollo Tyres reached a deal this week to buy US tire maker Cooper Tire for about $2.22 billion. The combined entity will be the seventh-largest tire company in the world, with combined 2012 sales of $6.6 billion. The agreement calls for Cooper shareholders to receive $35 per share in cash. The price represents a significant premium over Cooper’s current stock value, which stood at $24.56 a share on June 11. The acquisition is seen as a means for Apollo, […]

Investors no longer keen on buyout funds

Large buyout funds may have problems raising investments, with limited partners, or the individuals and entities that put money into private equity and venture capital funds not keen to invest in those that are involved in transactions worth $1 billion (around Rs.5,500 crore) or more, a study shows. And India, besides China, isn’t as popular as it once was because of the indifferent performance of fund managers here, the study also found. According to Coller Capital’s Global Private Equity Barometer, […]

PE deals remain hot in Indian kitchens

Private equity (PE) investors who want a major pie of the Indian consumption story have found a new investment opportunity–kitchen appliances. The urbanisation of Indian kitchens as a result of the mounting number of nuclear families, as well as multinationals’ entry into the segment, has made the sector a sought-after one for PE funds.

During a week’s span, TTK Prestige, the leading pressure cooker maker in India, has received investments worth $40 million (Rs 300 crore) from global PE investor […]

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 […]

Swiss PE Fund Acquires 51% Stake In Chennai’s Water Engineering Firm

Switzerland-based PE fund Capvent AG has acquired 51 percent stake in Chennai-based water engineering firm MORF India Ltd. for undisclosed sum, reports said. The company said the funds would be utilized for developing new products, brand campaigns and also in the national expansion plans by this year end. MORF India Managing Director M.V. Praveen said the company would utilize the money to take the Kelvinator range of home water purifiers and air purifiers across the country. It may be noted […]

Private equity firm ChrysCapital invests $44 mln in India’s CavinKare

Private equity firm ChrysCapital has invested about $44.01 million in Indian consumer products maker CavinKare, the companies said in a statement late on Monday. The investment will be used to strengthen and expand the brand portfolio of the south India-based consumer products company, CavinKare said, without disclosing further terms of the transaction. JM Financial Ltd was the sole adviser to the transaction, it added Source: Reuters