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Warburg sells entire 8.4% stake in Havells

Global equity firm Warburg Pincus has sold its entire 8.35% stake in electrical and power equipment company Havells India for about Rs. 730 crore. The shares were purchased by Vontobel Funds Inc through open market transactions. Seacrest Investment, a Warburg Pincus group company, sold 58.20 lakh shares, amounting to 4.66% stake, of Havells India for Rs. 407.40 crore, on the NSE. Besides, another Warburg Pincus group firm Woodcrest Investment offloaded 46.07 lakh shares, equivalent to 3.69% stake, of the electrical […]

PE investments witness dip during Jan-March

After witnessing a tough 2012, the private equity industry, ended the first three months on 2013 with a thud. Total investments made were worth Rs. 5,228 crore across 66 deals, fall of 56% in value terms compared to the same period last year. When compared to the last three months 2012, the dip was 18% in value terms, says the latest PwC’s MoneyTree India Report with data provided by Venture Intelligence. “This quarter the trend has changed from deal making […]

India Value Fund in advanced talks to buy stake in Spykar

Private equity (PE) investor India Value Fund Advisors is in advanced talks to buy the controlling stake of Avigo Capital Partners and Metmin Investments in financially strained casual-wear company Spykar Lifestyles Pvt. Ltd, according to two people directly involved in the negotiations. Avigo and Metmin jointly hold a 60% stake in Spykar, said one of the two persons. India Value Fund is “doing due diligence and has emerged as the final contender”, he said on condition of anonymity. Once the […]

Stanchart To Acquire Morgan Stanley’s Private Banking Arm

Standard Chartered India said it has agreed to acquire the private wealth management business of Morgan Stanley India for an undisclosed amount, subject to regulatory approvals.

“Standard Chartered India has agreed to acquire Morgan Stanley’s onshore private wealth management business here. The acquisition complements our existing private banking onshore business and will significantly increase our private banking AUM here,” said a statement by StanChart India. Standard Chartered India had re-entered the private banking business in 2006 after a decade’s […]

IDBI offers to sell Stock Holding Corporation of India stake

Public sector lender IDBI Bank that had mounted a bid to merge Stock Holding Corporation of India (SHCIL) with itself has now approached the government, seeking permission to sell its stake in the country’s largest custodial and depository services firm to state-owned non-banking finance company IFCI.

The move comes in the wake of the finance ministry is reluctance to allow SHCIL to merge with IDBI Bank. TOI was the first to report on May 13 that the government was […]

Qatar fund eyes $200m RMZ deal

An affiliate of Qatar Investment Authority is holding discussions to invest about $200 million, Rs 1,200 crore, in RMZ Corp, one of south India’s largest commercial developers, said people directly involved with the talks. The deal could be a combination of equity and debt, split equally, into a special purpose vehicle housing the Bangalore based developer’s commercial projects under development. The discussions are routed through Qatar Investment Company, a part of the oil rich Middle East nation’s sovereign wealth fund […]

Baring PE Asia to invest $260 mn in Lafarge India

Baring Private Equity Asia is taking a 14 per cent stake in the India unit of Lafarge SA, the France-based cement-maker. This would be the largest PE investment in the sector here.

Lafarge said it had signed an agreement to raise ^200 million ($260 million or Rs 1,427 crore) through the capital increase subscribed by Baring PE and representing a 14 per cent minority stake in its Indian subsidiary, Lafarge India Pvt Ltd.

In 2010, PE major Kohlberg Kravis Roberts […]

Heineken takes 3.2 percent stake in United Breweries

Heineken NV’s UK unit has acquired a 3.21 percent stake in India’s United Breweries Ltd the Indian alcohol company said on Wednesday, sending its shares up by more than 6 percent. United Breweries, controlled by liquor baron Vijay Mallya, said in a stock exchange filing that Heineken UK Ltd had been allotted the stake formerly held by Scottish & Newcastle India Private Ltd, controlled by Heineken. Source: Reuters

PE deals to see moderate rise: Survey

Private equity players expect a moderate increase in deal activity in India during 2013 with healthcare emerging as the top pick for these investors, a survey said. “Expectations about deal activity in 2013 remain cautious but still positive on the whole. Our interviews suggest that deal activity will see moderate growth in 2013 throughout the industry. The steps taken towards improving India’s legislative framework have made investors a bit more upbeat , and general partners suggest that more deals will […]

TPG Sells Stake in India’s Shriram Transport for $300 Mln

U.S. private equity firm TPG Capital raised about $300 million by selling its roughly 10 percent stake in Indian commercial vehicle financier Shriram Transport Finance Co Ltd to India’s Piramal Group, generating a near seven times return on a 2006 investment. Piramal Enterprises said it bought a 10 percent stake in Shriram Transport through a block deal for about 16.52 billion Indian rupees ($305.21 million), or 723 per share. Ajay Piramal, chairman of Piramal Enterprises, told reporters the stake was […]