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Mid-sized companies seeking capital to enter their next stage of growth now have the perfect platform, India’s first-ever Private Equity Fair (IPEF 2008), scheduled to be held at Mumbai on February 27, its organisers YEN Expo Pvt Ltd said here on Wednesday. IPEF 2008 will provide a B2B platform to companies to showcase their business and growth plans to 150 PE funds from India and abroad. A large number of cases are being reviewed by YEN and analysed by IIM-Ahmedabad. Out of these the best 25 companies will be short listed to participate in the fair. YEN and IIM-A will then work with these companies to make them “investment ready,” according to a release. Arun Chandrachud, CEO, YEN Expo, himself a senior investment banker formerly with Ernst & Young, said mid-sized companies find it difficult to attract private equity investors as they are unable to present their business plans in a format that is readily appreciated by a private-equity investor. […]
Tecpro Systems (TSL), engaged in the business of undertaking turnkey projects in bulk material handling systems including raw material handling systems for power, steel, cement plants etc. Tecpro is entering the capital market with an initial public offering (IPO) through a book built issue of 6,000,000 equity shares. The total issue will constitute 22.33% of the fully diluted post issue paid-up capital of the company. TSL has made Pre – IPO placement of 1,300,000 equity shares of Rs 10/-each. 10 lakh equity shares have been allotted to Credit Suisse Pe Asia Investments (Mauritius) Ltd. and 300,000 equity shares to Kotak Mahindra Capital Company Limited, both at the price of Rs 240 per share including premium of Rs 230 per share. The total size of this pre-IPO placement is Rs 312.00 million and shares given to investors under placement constitute approximate 5% equity shares of pre issue (post pre IPO placement) paid up share capital of the company. […]
Private equity giant Carlyle Group [CYL.UL] said on Thursday it has invested $27.7 million in Repco Home Finance Limited, a Chennai-based housing finance company focusing on Southern India. The funds will be used to improve Repco's equity base, allowing it to expand its loan portfolio, Carlyle said in a statement. The investment will come from Carlyle Asia Growth Partners III, a $680-million fund that invests in high-growth companies in India, China, Japan and Korea. Repco, a subsidiary of Repatriates Co-operative Finance & Development Bank Ltd, has been in the housing finance business since 2000. […]
Standard Chartered, Credit Suisse and Singapore's DBS Group have agreed to buy a one-third stake in an Indian outsourcing firm InterGlobe Technology Quotient for $140 million, banking sources said on Thursday. The company is part of India's unlisted travel group InterGlobe Enterprises, which also operates private IndiGo airlines. The firm has offices in 230 cities across India, according to its Web site. A source briefed on the deal told Reuters that the private equity arm of the three banks have agreed to buy the stake, which values the unlisted company at over $400 million. Officials at the Indian company were not immediately available to comment. DBS and Credit Suisse declined to comment, while Standard Chartered did not immediately comment. (Reuters) […]
Rahul Bhatia, a New Delhi-based entrepreneur who owns IndiGo airlines and InterGlobe group, is selling around 35% stake in the group’s travel reservation arm — InterGlobe Technology Quotient (ITQ). Three financial investors — Standard Chartered Private Equity (SCPE), Singapore-based DBS and Credit Suisse — will pay $140 million (Rs 560 crore) for the one-third stake. Sources close to the development said SCPE would invest around $75 million, DBS $40 million, and Credit Suisse the balance $25 million. The deal, managed by Credit Suisse, is likely to be closed in a week. Mr Bhatia, CEO of InterGlobe and chairman of IndiGo airlines, was not available for comment. A spokesperson said “SCPE and DBS have already concluded the deal, while discussions are on with other potential investors.” Headquartered in New Delhi, InterGlobe Enterprises is a diversified international corporation with business interests spanning air transport management, travel distribution and hotels. It also owns the domestic airline — IndiGo, through its aviation company — InterGlobe General Aviation. […]
The board of directors of Koutons Retail India, at its meeting held on Jan. 08, 2008, decided to invest up to Rs 120 million for acquiring 51% or more stake in Touchwood International through its subsidiary DBG Retail Holdings. The company will finance the aforesaid acquisition via a part of IPO proceeds meant for general corporate purposes or out of the internal accrual of the company. Touchwood International is the owner of `upper class` brand, which has presence in the ladies and gents segment.(My Iris) […]
Private equity players and big-ticket investors are making a beeline to tap investment opportunities in ‘green projects’. IFC, the private sector lending arm of the World Bank Group, on Tuesday announced it will make its first investment in a third-party environment-focused private equity fund. Its investment of up to €15 million in a fund handled by French management company Aloe Private Equity would be targeted specifically at companies, primarily in India, besides China, which focus on clean and renewable energy, waste recycling, emissions controls, and eco-processes. Through its involvement in this fund, IFC would provide support to smaller businesses in the clean energy and environment sectors that are unlikely to receive funding from mainstream private equity groups. Swedfund, a risk capital company owned by the Swedish Government, and Proparco, the private sector financing arm of the French Development Agency, would invest €8 million and €5 million, respectively, in the new fund alongside IFC. […]
State Bank of India (SBI) and ICICI Bank have together acquired 3% in Jaiprakash Power Ventures (JPVL), a wholly-owned subsidiary of Jaiprakash Associates (JAL), for Rs 400 crore in first of two private placements before its initial public offer (IPO). This would be followed by another pre-IPO placement before the firm hits the market with a public offer, together raising Rs 3,500 crore.The company will dilute another 17% through the private placement and IPO, according to a person close to the development. Of this, the pre-IPO deal is expected to be for about 3-4% of the equity, while the rest would be through the public offer. SBI and ICICI are supposed to have paid a little over Rs 230 per share. JPVL now has a paid-up capital base of Rs 541 crore, which includes 3% stake of the two banks. JPVL is looking at a valuation of $5.5 billion, post-IPO. Following the IPO, the shareholding of Jaypee group in JPVL would come down to 80%. […]
State Bank of India has picked up a 2 per cent stake in Mahindra Holidays and Resorts India Ltd (MHRIL) for about Rs 80 crore even as the company is preparing to come out with an IPO. The equity shares would e subject to lock-in after the IPO as per the SEBI regulations. MHRIL, a leisure hospitality provider offering family holidays under the brand name ‘Club Mahindra Holidays’ and a subsidiary of Mahindra Holdings and Finance Ltd (a wholly-owned subsidiary of Mahindra & Mahindra ), which filed a draft red herring prospectus with Securities and Exchange Board of India (SEBI) last month, is planning an IPO in the first quarter of the year. Its IPO of 10,719,347 equity shares of Rs 10 each for cash is at a price to be decided through a 100 per cent book-building process. […]
Silverline Technologies has acquired Omega Direct Response, a global provider of customer interaction and management services. In the last 10 years, Omega Direct has successfully delivered over 68,251,221 customer interactions with an employee base of over 850 personnel, globally. Omega Direct designs and implements a wide spectrum of call center initiatives ranging from inbound customer care, sales and help desk to outbound services along with in-language services in English Spanish, French, Mandarin, Cantonese, Hindi and other languages. Omega Direct has plans to establish a facility at Gandhinagar and Chennai, India leveraging which it aims to be able to provide extend its far-shore support to its global client and new service support to the other customers wishing to explore new service delivery options. […]
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