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DLF Ltd, India's largest listed real estate company, is buying luxury chain Amanresorts for around $250 million, a source close to the development said on Wednesday, confirming a report in the Business Standard. DLF will also assume debt of about $220 million, the source said. A spokesman for DLF declined comment. The valuation of the Singapore-based privately held chain of luxury hotels and spas was “extremely conservative”, the paper said, citing sources close to the development. DLF has a joint venture with Hilton Hotels Corp to develop 75 hotels and serviced apartments over seven years in India.(Reuters) […]
New York-based, India-focused real estate investment company Trikona Capital, plans to raise a Rs1,500 crore domestic fund. Trikona’s co-founder and managing director Ashish Kalra said the fund would be “by-invitation-only” with “a minimum ticket size of Rs25 crore.” It will invest in residential and commercial properties. The fund, which is to be launched in December, will be the largest rupee-denominated real estate fund to be raised so far. Kotak Realty recently closed its domestic realty fund at Rs1,200 crore. Trikona Capital president Mahesh Gandhi said the fund would be deployed in the company’s second series of investments in India. Trikona also plans to launch a $1 billion (Rs3,940 crore) infrastructure fund. Trikona raised its first fund of £250 million (Rs2,032.5 crore) in April 2006 on the London Stock Exchange’s Alternative Investment Market (AIM) and has completely invested this. […]
Indian companies received more than $74 million (Rs290.8 crore) venture capital funding in October. Deals included investments in sectors ranging between e-learning, digital media and engineering solutions outsourcing. The single largest deal was struck by online travel portal Makemytrip.com, which received $15 million in its third round of funding. The New Delhi-based portal, which plans to go for an initial public offering by 2009, received funding from the US-based hedge fund Tiger Fund, along with existing investors Helion Venture Partners, Sierra Ventures and SAIF Partners. Online education and e-learning services emerged as the flavour of the season as venture capital firms struck three deals in this space in the last month—Mumbai-based Hurix Systems Pvt. Ltd received $5.1 million from Helion Venture Partners; TutorVista.com, an online tutorials company started by serial entrepreneur K. Ganesh, received $2.5 million from Manipal Education Group; Mumbai-based e-learning services company 24×7 Learning Solutions Pvt. Ltd received $4 million from Capital18, the venture capital arm of media group Network18. All three companies have had earlier rounds of funding. Digital media was another sector popular with venture capital firms—New Delhi-based Live Media and Bangalore-based Tag Media Network, which operate in-store television networks for advertising and marketing, received funding from Draper Fisher Jurvetson (DFJ) and Intel Capital, respectively. The month also saw investments in outsourcing services companies such as New Delhi-based RT Outsourcing Services Ltd by Motilal Oswal Venture Capital, Indo-US outfit Satellier Llc. by Sequoia Capital India and engineering and technology services company Neilsoft Ltd. […]
One of India's premiere film bonding company, Infinity Film Completion Services, has acquired 25 per cent stake in Brazil's biggest film distribution company Lumiere. With this arrangement in place, Infinity FCS now becomes a 25 per cent partner in Lumiere's distribution business thereby allowing Infinity FCS to distribute all of Lumiere's films in the Indian market. According to Aanand Mahendroo, managing director, Infinity FCS, “We have ambitious plans in this line of business for the coming years and joining hands with Lumiere is the first step in this direction. We should be announcing more such deals in the coming months.” Founded by Aanand Mahendroo and Mehool Parekh, Infinity FCS is a division of Infinity India Advisors Pvt Ltd. The nature of business conducted includes giving guarantees of completion to producers and financiers of Indian and international films. The General Insurance Corporation of India (GIC)-India's state-owned re-insurer-backs Infinity's services. While Mahendroo refrained from disclosing the financial details of the deal, according to a Brazil's Variety Magazine, Infinity FCS and NYC-based investment advisory and equity participation firm SCGI Financial Partners have together invested $10 million for becoming Lumiere's shareholders. As for Infinity FCS's other investment plans are concerned, company sources indicated that it is either close to or has already acquired 25 per cent stake for an undisclosed sum in Hong Kong filmmaker Yu Lik-wai's upcoming international co-production Plastic City. An acclaimed filmmaker and Cannes award winner Yu Lik-wai is exploring something new and revolutionary in his new movie. […]
The VG Siddhartha-led Amalgamated Bean Coffee Trading (ABCTL) is closing a $95 million (Rs 340 crore) fund-raising from Deutsche Bank and Templeton Darby International. The investment is to expand and develop ABCTL’s retail business, the key component of which is Cafe Coffee Day, the country’s largest chain with 480 cafes in India. The transaction, which has been in the making for a while, is likely to be wrapped up soon, according to sources in the company. Mr Siddhartha, who pioneered India’s coffee cafe culture, won ET’s Entrepreneur of the Year Award in 2003. The two private equity investors together are expected to take a little over a 10% stake in ABCTL’s retail business, whose enterprise value is close to $600 million with debts included, sources say. It is believed that Deutsche Bank will invest $70 million with Templeton Darby International bringing in the remaining $25 million. […]
Venture capital firm Matrix Partners India on Wednesday said it has expanded its consumer services fund from $150 million to around $450 million. The firm will now make larger growth capital investments up to $30 million in consumer services business, a company press release issued said. The fund will continue to make smaller venture capital investments in early stage companies and has already invested in several companies so far. The investment team includes six investment professionals based in the city. Matrix Partners India is co-founded by Avnish Bajaj and Rishi Navani, in partnership with Matrix Partners US. […]
Diageo Plc is in talks to buy 10-13 percent of India's United Spirits Ltd for $500-$600 million, the Economic Times reported on Monday, citing unnamed sources. United Spirits, whose enterprise value has been pegged at over $5 billion for the possible stake buy by Diageo, might be open to placing a small stake with the world's biggest alcoholic drinks group without losing management control, the daily said. Officials at United Spirits, India's top spirits maker and the world's third-biggest alcoholic drinks company, could not immediately be reached for comment on the report. […]
Indiaco Ventures Ltd has announced that the Company has acquired 20.83% stake in Laser Cosmetics Pvt Ltd in pursuance of authority given by the Board of Directors of the Company in the Board meeting held on October 26, 2007. The Company has also subscribed 25% in Preference Shares. All the formalities in this regard have been completed now. The Company is presently holding 1,50,000 equity shares of Rs 10/- each out of total 7,20,000 equity shares of Laser Cosmetics Pvt Ltd and 12,500 Preference Shares of Rs 100/- each out of total 50,000 preference shares of Laser Cosmetics Pvt Ltd. […]
RG Stone Urological Research Institute, the super specialty urology hospital in India today announced investment of US $ 10 million in the Institute by the leading private equity firm, ICICI Venture. The group will use the funding to establish twenty new hospitals. RG Stone Urological Research Institute, a highly reputed institute for Urology, announced major plans for expansion across India. The first phase includes a super specialty hospital with state of art technology in Goa and four speciality centres in tie up with leading hospitals, which includes S K Soni Hospital, Jaipur, Kamyani Hospital, Agra , Saguna Hospital, Bangalore and Ivy Hospital , Mohali. The projects are expected to be completed by the end of December 07. The second phase, expected to be completed by September, 2008, will see the addition of fifteen centers. RG Stone Urological Research Institute will become the first institute in the country to introduce the concept of outsourcing surgical departments. The super speciality centres would be completely owned and managed by RG Stone Urological Research Institute. The centres will be equipped with Siemens Lithotripsy with ultrasound & X-Ray attachment for localization and treatment of kidney stone removal, 100 watt Holmium Laser for treating enlarged prostate and urinary stone, Nephroscope and Uretroscope from Karl Storz and Richard Wolf, Germany for complete endourology. All the modern facilities and equipments from Karl Storz and Richard Wolf will be used in performing advanced laparoscopic surgeries. Almondz Global Securities Ltd, Delhi was the financial advisor to RG Stone for the transaction. […]
It’s a total rockfest on dealstreet. For the first 10 months of the year, the total value of mergers & acquisition (M&A) and private equity(PE) deals involving India Inc has more than doubled to a staggering $63.5 billion compared to $30.3 billion in the same period last year. While the billion-dollar strategic M&A deals hogged the limelight in the early part of this year, PE investments are leading the way in the second half. For instance, the total value of PE deals between January and October has shot up to $13.62 billion against $5.93 billion in the corresponding period last year, according to the latest dealtracker by advisory firm Grant Thornton. During the period, the volume of PE deals increased by 32% to 380 deals. This means that the average size of PE deals this year also increased from $26 million to $40 million. […]
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