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Consulting and IT services firm Silverline Technologies has acquired 15% stake in a North American Firm specializing in healthcare change and performance management. Ravi Subramanian, chairman of the Board, said, “This investment is a highly significant step towards the company`s plans to be a focused leader in specific industry verticals. “ “This investment is in line with building the technology-enabled service management optimization (TESMO) focused solutions set. It brings in an innovative, patent-pending solution to the practice aimed to deliver major value to adopting hospitals, and to the insurance companies and governments which fund health care. It adds a brand-new third layer to hospital clinical-financial management and sits on top of the first layer of clinical records and financial-accounting systems, and the second layer of patient-cost-accounting systems“, said Titus Sequeira, executive director and chief strategy officer. […]
ICICI Ventures, the private equity arm of the country's biggest private bank, will partner with the Indian Express Group for its Express Towers property and plans to take a minority stake in the business. “As part of the partnership, ICICI Venture will advise on upgradation and management of the property, and proposes to acquire a minority stake in the property business, and participate in maximising the potential of Express Towers,” a press release from the newspaper group said. The Indian Express Group also plans to demerge its publishing business to unlock value and provide impetus, as also give effect to the partnership. BMR Advisors is acting as the transaction advisor to the media house, the release said. Vivek Goenka, chairman and managing director of the Group, said: “These are exciting times for the Indian Express Group. Our partnership with ICICI Venture is one more step in the resurgence of the Express Group, now celebrating the 75th year of its existence. […]
Cobra Beer Ltd has today announced its first ever brewery acquisition in India. Cobra has acquired a controlling stake in Iceberg Industries Ltd, a leading brewery based in Bihar, north east India. Cobra has purchased 76% of the equity from the Katyal family-owned brewery with Amit Katyal retaining a 24% share. The move marks a significant stage in the company’s ambitious global development strategy. The new brewery comes in addition to existing manufacturing in Poland,Belgium, the Netherlands, the UK and five further locations in India. Lord Karan Bilimoria, Founder and Chairman, Cobra Beer, comments: “Since we began brewing Cobra in India for the Indian market, back in 2005, we’ve made phenomenal progress. The market is expanding at an incredible rate – over 27% last year, and we’re delighted to see so many Indian beer-lovers embracing Cobra as the market grows. The purchase of Iceberg will help us take Cobra to a whole new level in India, allowing us to increase and manage our capacity and to really focus our efforts on the Indian market. […]
Bennett, Coleman & Co Limited (BCCL) has acquired a stake in Mindlogicx Infotech, a Bangalore-based new generation software product development and services company providing end-to-end solutions in KPO, virtual learning, online knowledge and skills assessment, business intelligence and IT consulting. Suresh Elangovan, CEO of Mindlogicx, said: “We are excited about this tie-up with BCCL as Mindlogicx shares the vision of creating future leaders by empowering the Indian youth with knowledge. Our suite of softwares are offered to the end users as 'on demand' services through an integrated technology platform called Vedas with the objective of delivering knowledge at the desktop of the users. […]
Pragnya, an India-focused private equity firm, is planning to raise $150 million to invest in Indian and Sri Lankan realty projects. It has already invested $40 million in realty projects in India and Sri Lanka. “We will be investing an additional $110 million in Indian realty projects in this calendar year,” said Mr Subba R Dukkipati, managing partner of Pragnya. This will take the company’s total investment to $150 million by this year. He said the company had already invested in L&T Tech Park coming up in Kochi, Kerala. The first phase of the Rs 1,200 crore-project will be inaugurated soon, he added. Pragnya is also participating in a recently announced project announced by L&T South City Projects Ltd (L&T SCPL) in Chennai. The company will have 24.5 per cent stake in the project. The project is spread over 100 acres and will be developed in four phases. It will be completed over the next five years. […]
Tata Teleservices Ltd. has shortlisted five companies including American Tower Corp. and Carlyle Group for selling a stake in its wireless towers unit, the Economic Times reported, citing people it didn't identify. The Indian phone carrier may sell as much as 49 percent of the unit, the newspaper said. Other companies in the race are India's Essar Group, Quipo Telecom Infrastructure and Excel Towers, the newspaper said. A Tata Teleservices spokesman declined to comment, the Economic Times reported. Citigroup Inc. and Lehman Brothers Holdings Inc. are advising Tata on the deal, it said. (Bloomberg) […]
ICICI Ventures, one of the largest private-equity funds in the country, is going big in healthcare by investing $250 million through I-Ven Medicare, a special vehicle focusing on healthcare business. I-Ven is close to tying up with a strategic US-based healthcare financial investor, where the latter will bring in $80million, all to invest in the booming healthcare sector in the country. I-Ven Medicare, which is the lead vehicle for all ICICI Venture’s investments in the healthcare sector, has already lined up investments of Rs 450 crore for upcoming hospitals and healthcare facilities in Delhi, Maharashtra and West Bengal. It will also invest in two other healthcare facilities in Karnataka and Tamil Nadu shortly. Next in line will be another Rs 550 crore, which will be invested for building up facilities in seven other healthcare platforms in other parts of India. […]
Kaveri Telecom Products Ltd today said it has acquired Spotwave Wireless Inc USA and Spotwave Wireless Inc Canada at an investment of $ 7 million. This acquisition enables Kaveri to provide solutions in bringing the outdoor signal inside or both commercial and residential locations ensuring that cell phones and wireless devices work reliably indoors, said a statement. In the recent past Kaveri had acquired Til-Tek a leader in antennas, DCI, Canada, a leader in RF products and Filters and Sigma Wireless, Ireland. ''With this acquisition we are introducing an intelligent adaptive repeater in-building solution which will be a key strategic addition to Kaveri's existing in-Building product and services business,'' said company Managing Director Shivakumar Reddy. […]
Darby Overseas Investments, the private equity arm of Franklin Templeton Investments and a leading provider of private equity and mezzanine capital in emerging markets, announced that its Darby Asia Mezzanine Fund II (DAMF II) invested Rs 700 million through an affiliate in Bangalore-based Bhoruka Power Corporation. Transaction details were not disclosed. Bhoruka Power Corporation (BPCL) is a company engaged in the development and construction of small hydro-electric and wind energy power generation projects. BPCL has a portfolio of fourteen projects adding up to 91 MW of renewable energy capacity, primarily in Karnataka, with a planned addition of another 111 MW to be commissioned in the next 48 months. […]
Motilal Oswal Group, Friday, announced the closure of fund raising process for their recently floated India Business Excellence Fund (IBEF). The total proceeds realized were USD 125 million, 25% higher than the initial target of USD 100 million. IBEF`s caters to the fund requirements of small and medium enterprises ranging from USD 3-10 million. The fund focuses on PIPE deals (private investment in public equity), pre-IPO transactions and opportunities where the liquidity event is 3-5 years ahead on the horizon. Since inception in January 2007, the fund has invested in 4 different businesses such as plastics (Time Technoplast), power equipment (IMP Powers), reverse logistics and warranty management (RT Outsourcing Services), and ITES (Effort BPO). […]
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