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TVS Electronics sells contract mfg unit to Finnish co

Printer-manufacturer TVS Electronics has sold off its contract manufacturing services business at Tumkur for Rs41.12 crore to Incap Contract Manufacturing Services, a 100% subsidiary of Finland based Incap Corporation.

TVS Electronics, a leading contract manufacturing service provider in the country, … […]

Tata Tea eyes 42% stake in Himalayan

Last September when Tata Tea met analysts to discuss their $ 677 million Glaceau acquisition, bottles of Himalayan mineral water on the dias were hurriedly replaced with Glaceau’s Vitamin Water. Himalayan could be back on stage tomorrow when Tata Tea meets the media to announce its March quarter and annual results. The Tata Tea board meeting tomorrow is expected to pass a resolution for the Mount Everest acquisition. A week after Tata Tea’s exit from Glaceau in a $ 1.2 billion stake sale to Coca-Cola, unconfirmed reports state that Tata Tea is likely to pick up 42% in Himalayan's parent, Mount Everest Mineral Water. […]

Carlyle buys shares in Indian housing finance firm

The Carlyle Group is investing in HDFC Ltd., a housing finance company in India. The D.C.-based private equity firm, through its Carlyle Asia Partners, will purchase 15.25 million new shares in Mumbai, India-based Housing Development Finance. After the transaction closes, Carlyle will own a 5.6 percent stake in the Indian company, incorporated in 1977 to provide long-term financing to promote home ownership. […]

BNP Paribas buys 50% in SREI arm for Rs 775cr

BNP Paribas, France’s largest bank, will acquire 50% stake in the equipment financing business along with insurance broking (which is being spun off into a separate company) of Kolkata-based SREI Infrastructure Finance for Rs 775 crore. The deal, the first of its kind in the country’s booming infrastructure sector, will help SREI to unlock shareholder value, Hemant Kanoria, vice chairman and managing director, SREI said. “The market capitalization of the company is around Rs 600 crore. The deal values the equipment financing business of the company at Rs 1,500 crore, two-and-a-half times of its total market capitalisation,” he said. […]

UB Group spreads wings with Air Deccan stake

United Breweries (Holdings) Ltd., which runs Kingfisher Airlines, said on Thursday it will buy 26 percent of Deccan Aviation Ltd. signalling further consolidation in the fast expanding but loss-ridden Indian aviation market.

The deal, struck at 5.5 billion rupees, values … […]

IFC to pick up stake in 2 India-specific PE funds

The International Finance Corporation, Washington, (IFC) the multilateral investment arm of the World Bank, is close to pick up stakes in two India focussed private equity (PE) funds – Aloe Environment Fund 2 (Aloe 2) and Samara Capital Partners Fund … […]

Kingfisher Airlines to buy Air Deccan

Vijay Mallya led United Breweries Kingfisher Airlines is planning to buy the low cost carrier, Air Deccan. If the said acquisition works out, Kingfisher Airlines will become largest aviation player by market share in the country, reports Economic Times. The two groups, believed to be in an advanced stage of talks are expected to make an announcement soon. […]

Yes Bank launches $100 mln private equity fund

Private sector lender Yes Bank said on Wednesday it launched a $100 million private equity fund to invest in food and agriculture sectors.

The Food and Agribusiness India Fund plans to invest its entire amount in 1-2 years, earmarking $5-7.5 million per company and expects an average annual return of 20-25 percent, it said in a statement.

Source : Reuters

Venture capitalists ready wallets to revive funding for start-ups

Venture capital firms, led by Silicon Valley’s best of breed, have raised close to $2 billion (Rs8,000 crore) for investment in India since January 2006, according to informal industry estimates. The money will be invested in seed and early-stage companies over the next four to five years. This is indeed small compared with the estimated $10 billion that private equity (PE) firms have allocated for India during the same period, but an important step towards reviving start-up funding in the country. Start-up funding almost disappeared after venture capitalists (VCs) burnt their fingers in the 2000-01 Internet bust. […]

Warburg picks up Cibernet stake for $200 m

A Warburg Pincus group company has acquired Cibernet, one of the world’s most experienced clearing and roaming business service provider for telecom companies across globe and with a sizeable presence in India, for over $200 million.

The move is said … […]