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SMS Infrastructure Ltd. and IDFC announced today that IDFC has purchased 48.4% equity in one of its SPV viz. SMS Shivnath Infrastructure Limited (SSIL). SSIL owns, operates and maintains an 18.4 kms 2-lane road on National Highway 6 which serves as a bypass to the city of Durg in Chattisgarh. The concession was awarded in 1997 by NHAI under a BOT format, and extends until 2031. The project is amongst the first concessions awarded by the National Highway Authority of India (NHAI). Speaking on the occasion, Mr. Anand Sancheti, Managing Director of SSIL, said that “participation by IDFC, a leading financial institution in the infrastructure sector, in the equity of a Group company, reconfirms our business philosophy of creating enduring value in our businesses. This investment also marks the starting of a partnership approach, which would foster aggressive growth in the years to come in the chosen fields of road, waste management and power which the Group has embarked upon. […]
Venture Capital firm 'Sequoia Capital' will invest $500-600 million in Indian companies, for meeting their capital requirements for growth, in the next couple of years. “We will invest money ranging between $500 and $600 million in Indian companies in next couple of years,” Sequoia Capital (India), Associate, Ravi Shankar, told PTI here. Sequoia Capital, which mainly invests in young companies having potential to grow, has identified various emerging sectors in the country and would address their needs. “We have found several areas such as internet mobile, specialised retailing, telecom, KPO etc in the country which offer immense potential and we would like to focus on these areas,” he added. […]
Fishman Holdings has sold 10% of his Indian real estate development company, Mondon Investment Ltd., to Migdal Insurance and Financial Holdings Ltd. at a company value of $600 million, plus repayment of an owners loan that it provided the company. Migdal will pay an additional $10 million if Mondon goes public within five years at a higher company value. If no IPO is held within this period, Migdal can force Fishman to buy back the stake by exercising a put option. Elazar Fishman promised that a member of his family would stay on Mondon’s board at least until the IPO.(Globes) […]
European financial powerhouse Deutsche Bank (DB) is set to invest $125 million in Bangalore-based Golden Gate Properties (GGPL) for a 15-20% stake. It is believed that Deutsche Bank has emerged as the front-runner in a fund-raising process kicked off by the southern realty player about a year ago. Sources said the initial agreement has been inked even though the deal is not yet closed. Other players in the fray included Credit Suisse and ABN Amro. The transaction, according to sources, is likely to value GGPL at around Rs 2,700-3,000 crore. The company, still ranked among the Tier-II real estate developers, has sizeable land bank in Bangalore, Hyderabad, Mysore and Bangalore. The company currently has seven ongoing projects worth Rs 1,500 crore. GGPL’s top management was not available for comment. […]
Private Equity (PE) investments in the domestic healthcare and pharma industry have touched around $400 million during the first nine months of the year. This trend is set to accelerate as companies go for overseas acquisitions, hive off their R&D units, and Foreign Currency Convertible Bonds (FCCB) lose their sheen. The PE investment include Apax Partners’ $104 million fund infusion in Apollo Hospitals, IFC’s $67 million in Max Healthcare, Trinity Capital’s $31.4 million in Fortis Healthcare, ChrysCapital’s $24 million in Mankind Pharma and Kotak $10 million in Intas Biopharmaceuticals. Says Apollo Health Street MD Sangita Reddy: “We had two investments from foreign investors recently and we are being continuously approached by financial institutions. The lack of investment in the healthcare sector so far may be because there are few players, and the capability of the sector has not be fully highlighted. But we see the number of investment from PE firms to increase soon.” (Apollo Health Street is part of the Apollo Hospitals group.) […]
Gulf Finance House (GFH) yesterday announced that it has raised more than $630 million from GCC investors to fund the infrastructure development of Energy City in India. This is the most successful equity raising in the investment bank's history and GFH is now looking at further investment opportunities in India. The equity issue was underwritten by Kuwait Investment Company. “The success of the exercise to raise equity for Energy City India underscores the strong appetite of our clients for opportunities in India as well as the success of our Energy City Qatar project,” GFH chairman Esam Janahi said. “Sophisticated global investors have been eyeing India for some time and are looking for opportunities to invest in its economic development, particularly after the liberalisation reforms introduced a few years ago. […]
Havells India Ltd said private equity firm Warburg Pincus LLC will pick up an 11.2 percent stake in the firm for $110 million. “It will be carried out through a combination of warrants and equity. The warrants will be redeemable in the next 18 months,” a company spokesman said. The Economic Times said on Monday that the equity would be priced at 625 rupees a share and the warrants at 690 rupees. Shares in Havells closed 608.45 rupees Friday on the Bombay Stock Exchange. The electrical and power distribution equipment company is raising funds to retire a part of the debt taken to finance its $300 million acquisition of SLI Sylvania's lighting business and for capital expenditure. “Seventy million dollars will be used to retire debt and the balance will be used for the expansion,” the spokesman said. Havells acquired Frankfurt-based firm SLI Sylvania's lighting business in March. ( Reuters) […]
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