April 2008
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id8Labs plans to raise USD 6-8 mn via PE

Online marketing firm id8Labs plans to raise up to USD 6-8 million through private equity in the next three months. id8Labs, with currently more than 100 employees on board, plans to double its workforce to 200 professionals in FY09. Amit Tripathi, founder of NetWeb Solutions, had earlier acquired the 51% stake of Percept Holdings in WebPercept on Mar. 29, 2007 and re-christened it id8Labs. Later in October 2007, id8Labs also acquired the business franchise of eDesign Tree in India and launched id8Labs Global in association with eDesign Tree in the USA. […]

CPI buys 40% in BPTP SEZs for $160 mn

Citi group’s realty arm, Citi Property Investors (CPI), has bought 40% stake in each of the four Special Economic Zones (SEZs) of Delhi-based real estate group BPTP for $160 million (approx Rs 640 cr). The fund raised will be used to pay the first instalment of Rs 5,006-crore Noida land deal which BPTP bagged recently, a BPTP official said. CPI, which manages approximately $13.0 billion in gross real estate assets globally, had last year taken an equity stake of 5.89% in BPTP by investing Rs 322.5 crore. Besides Citi, Merrill Lynch’s real estate arm also invested in the BPTP group last year. Merrill bought 49% stake in an SPV developing 4.5-acre IT park on the Gurgaon Expressway for Rs 112.55 crore. […]