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Global private equity investors are expected to increase their exposure to India, say fund managers. Many new funds are also looking to tap the growth opportunities. The UK-based Actis Capital plans to launch a $1 billion India infrastructure fund shortly. The fund already has $700 million investments in this country. The new fund would be launched early next year, Mr Steven Enderby, Partner South Asia of Actis LLP, said at the sidelines of a conference organised by the Asia Private Equity and Venture Forum here on Tuesday. Another overseas private equity investor, Evolvence Advisory Service will be launching a $300 million second India dedicated ‘fund of funds.’ It already has invested $400 million in India through “Evolvence India Fund.” The fund has seen a return of 80 per cent in the past three years, said Mr Jay V. Jegannathan, Managing Director. The fund has exposure in areas such as real estate, healthcare and infrastructure. […]
Hyderabad-based e-marketing solutions company, Ybrant Technologies, is acquiring Israeli online media solutions company, Oridian, for $13 million (approximately Rs 52 crore). A definitive agreement has been signed in this regard, which is yet to get the final approval from Oridian’s shareholders. While $1 million has been paid to a trust account of Oridian for the definitive agreement, $2.5 million has to be paid at the time of closing the deal in a week. Around $6 million would be released in 90 days from the date of closure and the remaining in nine months from then, M Suresh Reddy, chairman and managing director of Ybrant, said here on Tuesday. […]
Intelenet Global Services, the BPO service provider, acquired two companies; Upstream and Travelport ISO, from the private equity firm Blackstone for USD 75 million, reports Economic Times. Upstream gets a large part of its business from the travel industry. Travelport is the India-based captive unit of the global travel services firm Travelport. The acquisition will give Intelenet a wider presence and multi-lingual capability. It will add Rs 3 billion to the company`s topline and boost its employee strength by 2,400. […]
Ajay Piramal group promoted Indiareit Fund Advisors is planning to raise up to Rs 4,500 crore from overseas and domestic markets to invest in real estate projects in India. The real estate venture capital fund would raise the amount in two tranches. While Rs 700 crore would be raised initially from the domestic market by the end of this month, the company plans to raise nearly one billion (Rs 3,800 crore) dollar from overseas markets by mid next year. “We have already raised Rs 1,350 crore from the existing Indiareit fund and we plan to raise another Rs 700 crore from the domestic market and 750 million to one billion dollar from overseas markets for future investments,” Piramal Enterprises Chairman Ajay Piramal said on the sidelines of India Economic Summit. […]
BGR Energy Systems has raised Rs 190 crore via pre-initial public offering (IPO) placements from Citi Venture Capital and Reliance Mutual Fund. The 9.1 million share IPO of the company, a provider of ancillary equipment and turnkey engineering services to power projects, will open on December 5, and has been priced in the band of Rs 425-480 per share. While Citi Venture has picked up 4% (28.80 lakh shares) at Rs 450 or issue price, Reliance MF has taken 2% (14.40 lakh shares at Rs 450). The pre-IPO shares will have a lock-in of one year from date of allotment. “We have grown from manufacturing of power equipment to execution of EPC contracts,” said B G Ragupathy, chairman and managing director, BGR. The Chennai-based company has projects worth Rs 3,330 crore on its order book, and expects to complete about 90% of these contracts by March 2009.(Business Standard) […]
The Rapaport Group said Monday that it has acquired a 50 percent stake in India's leading jewelry magazine, The Art of Jewellery. Through its association with Rapaport, The magazine will be able to penetrate new markets throughout India and rapidly expand its reach, both companies said in a statement. The Art of Jewellery also serves as the organizer for the South India Jewellery Show, held annually in Bangalore. It has been the prime mover in promoting the jewelry trade through innovative and well acknowledged initiatives like Gold Shopping Festivals. In its six years of publishing, the magazine has won several awards and accolades for its contribution to the industry. The Rapaport Group said it will bring its extensive knowledge and global expertise of the diamond industry to the company's resources. […]
The venture capital and private equity investment arm of Delhi-based media company Network 18 Fincap Pvt. Ltd, Capital 18, has closed four deals, two of which are undisclosed, since its formal incorporation this January. The two disclosed deals involve investments in online learning company 24X7 Learning Solutions Pvt. Ltd ($4 million or Rs15.8 crore) and online search advertising firm Webchutney Studio Pvt. Ltd (deal size undisclosed). The investments made by Capital 18 are separate from those that the group’s Internet arm, Web 18, has been making over the last 12-18 months. “We will invest in sectors complementary to, but not conflicting with the strategies of Network 18,” says Sarbvir Singh, managing director, Capital 18. Singh said that the venture capital arm would not invest in companies that have the potential to be merged with the group’s existing properties. Gaming, animation, print media and the larger media, entertainment and technology space would be its key areas of focus for investment. The firm has plans to invest in 8-10 companies over next few years […]
Indivision, the Mauritius-based private equity fund of Future Capital, has bought a 70% stake in Faces Cosmetics, a Canadian high-end cosmetics company listed in the UK, for an undisclosed amount. Consequently, Indivision will take management and strategic control of the company and partner with Pantaloon Retail to bring the company’s products into the Indian market. Pantaloon Retail managing director and Future Group CEO Kishore Biyani is understood to be personally involved in working out the India strategy, sources said. Indivision Capital Management managing partner Atul Kapur said: “Faces is an innovative new-age personal care company. Its products will resonate well with the Indian consumer. In addition to continuing with its international expansion India is a critical market for Faces. We will shortly announce our full India strategy.” Future Capital is the financial arm of Pantaloon Retail, the flagship retail company of Future Group. Faces Cosmetics said it has received 5 million stg in funding from Indivision, a private equity fund owned by Indivision Partners, through a subscription for 125 million shares. […]
Phoenix Mills, one of the leaders in the large retail-led mixed-use development segment, has acquired 60% stake in Big Apple Real Estate, the owners of the United Malls brand in Uttar Pradesh. The stake is being acquired through the swap of Phoenix stake in its Market City project in Agra to Big Apple and through an additional infusion of Rs 80 crore as capital. In return, Phoenix has got 60% in Big Apple Real Estate. Confirming the development, Phoenix Mills director Atul Ruia said, the acquisition is in line with their strategy to become the largest developer of mixed use retail-led centres in India. “Our equity partnership with Big Apple enable us to extend our presence across the nation and fortify our position as the leading retail centric mixed-use format player in the country,” Mr Ruia said. Big Apple has plans to build retail malls across north India, particularly in UP, covering cities including Lucknow, Agra, Bareilly and Varanasi. […]
Leading the pack is ICICI Ventures (I Ven), which acquired US-based Radiant Research for about $65 million in June this year. The fund is now looking at similar investments in South America, Eastern Europe and the Asia Pacific. It has roped in the top five Indian pharmaceutical companies as partners, including Wockhardt and Dr Reddy’s. Along with these companies, I Ven will purchase CROs worldwide and integrate them as one single entity called Swiss Biosciences. Similarly, Kotak Private Equity is doing the rounds of investment bankers to build something similar. An investment banker, who did not wish to be named, said, “Kotak PE wants to build a chain of clinical research organisation by acquiring companies in the US, Europe and India.” Sources say UTI Venture Funds is also contemplating the same. […]
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