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3i Infotech has picked up 26 per cent stake in Hyderabad-based Locuz Enterprise Solutions, a specialist in IT infrastructure solutions and services. Mr Anirudh Prabhakaran, Executive Director and President – South Asia, 3i Infotech, said: “We have identified IT infrastructure management and system integration as a key growth driver and this acquisition will enable us to be a larger player in the IT outsourcing market. More companies are increasingly scouting for specialists to develop and roll-out IT-centric business strategies.” India has witnessed a phenomenal growth in the last decade in the field of IT infrastructure management prompted by improved technologies, advanced management tools, and increasing flexibility in requirements. (Money Control) […]
Eredene Capital Plc. said its unit will invest up to 2.6 million pounds in a new logistic park at Kalinganagar in Orissa, India, through its joint venture partner Apeejay Infra-Logistics Pvt. Ltd. Both the partners have invested an initial 68,000 pounds each for an 80-year lease on the land near Khurnti village close to the Kalinganagare industrial complex, which is emerging as one of the largest steel clusters in India, the investor in Indian infrastructure and real estate said. The park will service the Kalinganagar region and it will specifically target the in-bound and out-bound cargo centred around the steel industry, it added. Steel companies such as Tata Steel, ArcelorMittal, South Korean Posco, Jindal Stainless Steel and Nilanchal Ispat Nigam Ltd. all have or are developing major plants in and around the Kalinganagar region, the company said. […]
A multinational venture capital fund has invested “sizeably” in New Horizon Media (NHM), a closely held corporation having published over 650 books that have sold 250,000 copies, its co-founder K. Satyanarayan said here Wednesday. The company, however, refrained from giving details about the share of the company being given to Beacon India Private Equity Fund, the Indian subsidiary of the international $200 million Baer Capital Partners. Launched four years ago by a former founder of a major cricket website and two IIT graduates, Badri Sheshadri, Satyanarayan and Ananthkumar, NHM has published works of well known journalists and writers in three languages, Satyanarayan said. […]
Intercontinental Exchange Holdings Inc may be required to sell a portion of its stake in India's National Commodity Derivatives Exchange (NCDEX), and the bourse has already been approached by many financial institutions, its chief executive said on Wednesday. The Atlanta-based exchange said it was in talks with the Indian Government about the possibility of holding on to its 8 percent stake in NCDEX, or lowering it to the mandatory 5 percent regulatory cap. ICE CEO Jeff Sprecher said it has been approached by a host of institutions, including global exchanges, financial services companies and banks for the “extra piece” it holds. […]
Global financial major Merrill Lynch, Deutsche Bank and Indivision, the private equity arm of Future Group, are in race to buy into Cox & Kings, one of India's oldest travel services firm. A source said the tour operator is considering a pre-IPO placement of its shares with some investors and is in talks with the foreign financial institutions and private equity funds. However, another source said US-based Merrill Lynch is the frontrunner. The deal is being brokered by City-based Enam Securities. The primary objective of companies opting for a pre-IPO placement is that it sets the benchmark to identify the public issue price. The promoters – the Peter Kerkar family – plans to sell 8-10% to the new investor for Rs 135 crore. The deal, if consummated, will put the valuation of Cox & Kings at Rs 1,350 crore. The company plans to utilize the funds to expand the business, including acquisitions. […]
BTS India Private Equity Fund Limited has announced investing around USD 7 million in Parabolic Drugs, a fast growing pharmaceutical company based out of Chandigarh. The capital will be used for funding Parabolic’s next level of growth and will be largely used for significantly expanding capacities for its existing and new products. With this, the Fund managed by Swiss based BTS group has completed yet another investment in pharmaceutical sector which is one of its preferred sectors. Several of the pharmaceutical companies invested through its earlier Fund have been doing exceedingly well and some of these have been nominated by CNBC TV18, ICICI Bank and CRISIL for the SME awards. Parabolic Drugs which has facilites at Derabbasi and Panchkula near Chandigarh has already established itself with several global pharmaceutical companies as an important supplier for APIs and bulk drugs ranging across several products in the betalactum and cephalosporins range. “The current round of capital raising is a step towards further broadening the product and customer base, and take the company towards its target of crossing Rs. 10 billion in sales over the next couple of years”, said Mr.Pranav Gupta, Chairman and Managing Director of Parabolic. […]
There may be a lull in the Indian real estate market, but dollars continue to pour in. Hongkong based Arch Capital Management will invest USD 100 million in Indian realty over the next two years. India's property market continues to attract foreign investors. Ayala Corporation and it's affiliate-Arch Capital Management-is expected to invest USD 100 million in property in India in the next two years. Ayala is one of the largest real estate brands in Phillippines. Currently, this private equity fund is evaluating property in Chennai, Hyderabad, the National Capital Region, Mumbai, Pune and Bangalore. Sources say it will subsequently consider smaller cities, as there is more room for development. Sources also say residential projects are top on Arch Capital Management's priority list as it is easier to exit them. But the fund is open to investing in retail and IT projects. […]
Bharti Airtel, is bidding for 51% of South African telecommunications group MTN, putting the value of the firm at $37-billion. London's Financial Times reports that Bharti has tabled a bid for MTN at R165 per share and has secured $12-billion from banks to finance the deal, which would make Bharti a top player in emerging markets telecoms. MTN says that it's in talks with Bharti. It has described the talks as exploratory in nature and has advised shareholders to exercise caution. (SABC News) […]
Leading foreign and Indian institutions including Deutsche Bank, Lehman Brothers, Goldman Sachs, ICICI Venture and HDFC Realty are in talks with Nirmal Lifestyle, a real estate developer in Mumbai, to buy a stake in some of its property projects. Nirmal Lifestyle, which is in the process of raising $5 billion to invest in its township projects across India in the next five years, has plans to raise $500-$800 million from private equity funds. “We are in the process of developing 20 townships under the brand name “Lifestyle City” across India. We just concluded the land acquisitions in various cities and initiated steps to raise $5 billion to invest in these projects. As a part of it, we will be raising $500 to $800 million from private equity funds,” Nirmal Lifestyle CMD Dharmesh Jain said. He declined to provide names. He said that the firm is also exploring other routes such as a public issue. […]
The movie and entertainmnet company Adlabs Films Limited, part of the Reliance Anil Dhirubhai Ambani Group (ADAG) has acquired a controlling stake through an agreement in the Malaysian Lotus Five Star Cinemas for operating a 51 screen cinema there. Adlabs has apresence of 160 screens across India besides an international network of 220 screens spread in the East, mid-West and some parts of the United States. The company plans to have a footprint across the island and will showcase mainstream Hollywood and Chinese films in addition to movies in Indian languages such as Hindi and Tamil. […]
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