|
|
Reliance Industries is in talks with IDFC Private Equity to acquire the latter’s 48 per cent stake in city gas firm, Krishna Godavari Gas Network. (KGGNL), a senior Andhra Pradesh government official said. Krishna Godavari Gas Network is a joint venture between the Andhra Pradesh government, Gujarat State Petroleum Corporation and IDFC Private Equity. “RIL is keen on holding a controlling stake in KGGNL. GSPC is also keen on this. But, IDFC PE is in favour of RIL for the deal,” the state government official said in Hyderabad. KGGNL was planned to source gas from GSPC’s KG Basin block. While IDFC holds 48 per cent in the company, Gujarat State Petroleum and Andhra Pradesh Industrial Development Corporation the investment arm of the Andhra Pradesh government, hold 26 per cent each. […]
Manipal Education and Medical Group will raise $100-150 million through private equity placement in a month or two. The leading private medical education group plans to utilise the proceeds for an overseas acquisition and for its greenfield initiatives in India. The Manipal Group is also simultaneously raising $100 million through private equity for its hospital segment in the next three months, which it plans to deploy to roll out more hospitals in the country. Several leading Indian and foreign private equity players, including ICICI Ventures, are in the race for the two investments. IDFC Private Equity and Capital International had infused $70 million in Manipal Health Systems in 2006. With the new investment, Manipal Group will go for a large overseas acquisition in the education space, expected to be finalised in the next three months. Besides, it has planned greenfield campuses in three Indian cities, of which Jaipur would start by this year-end. […]
Sealing its second acquisition in a week, Tata group company, Telcon, on Friday said that it has signed a deal for acquiring a 60 per cent stake in Spanish company, Comoplesa Lebrero SA. An agreement was signed with existing shareholders of Comoplesa, a construction equipment company, to acquire 60 per cent stake in the company, Telcon said in a press release issued here. The balance 40 per cent will be retained by the existing shareholders who will continue to be associated with the venture, the release said. […]
Jindal Drilling & Industries Ltd (JDIL) has informed that the company has acquired 49% holding in Virtue Drilling Pte Ltd. (VDPL), Singapore for Rs 40 Crores. The stake has been bought from Jindal Pipes Ltd. as part of its business strategy of expansion and consolidation of its offshore drilling business. Pursuant to this acquisition, Virtue Drilling Pte Ltd (VDPL), Singapore has become a joint venture Company (JVC) of the Company. The company also owns a 49 percent stake in another Singapore-based firm, Discovery Drilling. […]
India is an attractive venture capital (VC) destination today and the future will only get better. Many more VC funds will come in and entrepreneurs, at least the good ones, will be badgered by VCs for ‘lets-get-to-know-each-other-better’ meetings. This capital availability and increased VC activity is good for the entire entrepreneurial ecosystem. But, in all this hype and hysteria about VC and entrepreneurship, something has been missed. Namely, that in as much as due diligence is performed by VCs on entrepreneurs prior to making an investment, a reciprocal arrangement needs to be in place for VCs. Wheat needs to be separated from the chaff, the genuine from the pretenders. Classic VCs are partners in business, not purely opportunistic money makers. They see themselves as company builders, not just as investors. They don’t take short term stock market oriented investment decisions. They help build successful businesses, not spend time on financial engineering. In the early days of the Indian VC industry (that’s less than 20 years old!), most of the VCs had a lender’s mindset where risk minimisation (zero risk?) took precedence over risk management. They found it hard to understand the startup situation used as they were used to more stable and less risky Companies. The situation today has undergone a sea-change with the entry of Silicon Valley style VC funds. […]
Kotak Realty Fund and Japan's Shinsei Bank have jointly acquired a 5.9 per cent stake in Lemon Tree Hotels for 30 million dollars. Calculated at this rate, the New Delhi based hospitality firm is valued at more than 500 million dollars. The stake has been picked from the existing shareholders, a release said here today. “This is an investment in India's booming economy… no hotel company has matched Lemon Tree's track-record in growth,” Shinsei Corporate Advisory Services' Head Sanjay Sachdev said. Kotak Realty Fund is already an existing investor in Lemon Tree. […]
US-based Global Healthcare Investments and Solutions (GHIS) is gearing up to launch a $500-million fund to invest in the booming Indian healthcare sector. With private equity investments in the domestic healthcare and pharma industry touching $400 million during the first nine months of 2007, global investors, too, have been taking an active interest. The fund will invest in companies providing hospital services, including diagnostics, radiotherapy, wellness, health insurance and loyalty programmes (behavioural modifications), GHIS president Jack Shevel, who was here to attend a three-day Technopak-hosted health conclave, told ET on Wednesday. Initially, the fund’s corpus will be small, about $50-100 million, and aimed at hospitals with a bed capacity of over 150 and critical mass. The fund would be launched in phases and operate for two years. “We expect to finalise the fund in six-to-nine months time,” he said. GHIS is also engaged in discussions with at least 20 listed entities in the healthcare space to forge a strategic partnership. The list includes majors like Apollo, Fortis, Max, Wockhardt and the Mallya group. […]
Hyderabad-based ECI Engineering and Construction Company (ECI), raised Rs 1 billion of private equity capital through a preferential allotment to Sabre Abraaj India Private Equity Fund I (Sabre Abraaj), a fund managed by Sabre Capital. ECI will use these proceeds to expand its construction business, finance its investment in hydro power BOOT projects and also build a modern manufacturing unit to fabricate steel towers required for their core power transmission and distribution (T&D) business. […]
PTC India Ltd will soon float an energy fund to finance power projects in the country, the company's chairman and managing director Tantra Narayan Thakur said on Thursday. “We have an in-principle decision to float an energy fund under the PTC's investment arm PTC Financial Services. We are in talks with the banks and financial institutions to tie up debt for the fund,” Thakur said. He declined to reveal details like the corpus of the fund and the date of commencement. PTC Financial Services is also looking at raising debt for its project financing operations. “So far we have been only taking equity in power projects against the investments. But since the RBI guidelines prevent us from investing more than 20% of our net worth by way of equity in a single project, we are talking to banks and financial institutions to syndicate debt to invest in such projects,” Thakur said. PTC India floated an investment arm called PTC Financial Services Ltd about six months back to invest in power projects. Australia's Macquarie group and US-based Goldman Sachs have 20% equity stake each in the company. […]
Cyber Media has acquired 100 per cent stake in United Business Media LLC for an undisclosed sum. United Business Media will become a subsidiary of Cyber Media. UBM LLC will continue to provide services to support and enhance the products and services being delivered by CyberMedia. Formerly a 50:50 JV, UBM-CyberMedia LLC has been publishing a monthly magazine Global Services, a website www.globalservicesmedia.com and produces events for the global outsourcing and off-shoring community. All products and services are published under the brand name of global services and endeavor to facilitate the global outsourcing industry by providing information and relevant platforms for buyers and sellers of professional services. The magazine has a print order of 30,000 amongst buyers of professional services in North America and Western Europe, the website attracts 21,000 unique and relevant professionals every month; and the joint venture has conducted close to 10 successful events bringing together this community. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|