September 2008
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IFC Commits $30M To India Buyout Fund

The International Finance Corp. has committed as much as $30 million to a private equity fund investing in high-growth small- and medium-sized enterprises in India. Avigo SME Fund III, a $300 million, eight-year closed-end fund, is a follow-on offering to Avigo SME Fund II, a $125 million fund managed by Avigo Capital Partners, a private equity group formed in 2004 by Achal Ghai. […]

YES Bank to add buyout fund to PE portfolio

YES Bank Ltd, a recent entrant into the private equity space in India, is planning to expand its portfolio by launching a buyout fund in the near future. Though the value of the fund has not been decided as yet, the bank plans to launch it in three years’ time. The bank has already announced four sector specific funds in the first phase, in the form of a $300-million cleantech fund, a $500-million infrastructure fund, a Rs 200-crore food and agriculture fund and a $250-million lifesciences fund. Other funds such as a buyout fund, a VC fund and a real estate fund will be launched post-2010. […]

Moser Baer unit gets PE Funding worth Rs 415 crore

Moser Baer India has informed that its wholly owned photovoltaic (PV) subsidiary has received in full, the agreed capital investment worth Rs 415 crore from a consortium of global investors. According to the company, the received money will be utilized for expansion of its solar PV capacity both in crystalline silicon and thin film solar verticals facilities coming up at the Greater Noida. The company currently has 80 MW capacity for crystalline silicon, which it plans to increase to 180 MW; whereas company’s present capacity in Thin Film is 40 MW, that will be increased to 105 MW, by adding 65MW capacity. […]

Balaji Tele may buy stake in 9X

Even before INX Media completes a year of operation, its flagship Hindi general entertainment channel 9X seems to have run into trouble. It is learnt that the company is in talks with Balaji Telefils to divest a significant stake. Although there is no clarity on how much stake in 9X has been put on the block, the promoters are targeting a valuation of $120-150 million for the channel from the stake sale, according to insiders. Sources close to the development confirmed that the talks were on between the parties. There is a possibility that Balaji may buy a majority stake in the channel, sources added. However, the two parties will take a while to reach a conclusion on the exact size of the stake and the price. Sources added that any possible transaction would take time, as INX Media would have to spin off the channel into a separate entity prior to the sale. Besides 9X, INX Media runs a music channel — 9XM. […]

Autoline acquires 49 pc stake in two Italian firms

Auto component maker Autoline Industries today said its has acquired 49 per cent stake in two Italian firms for an undisclosed amount. The company has also entered into an agreement with Luxembourg-based Icon Develpoment SA to increase its shareholding in the latter to 60 per cent. In a filing to the Bombay Stock Exchange Autoline Industries said its wholly owned subsidiary, Koderat Investments has “acquired 49 per cent equity share capital of SZ Design Srl and Zagato Srl”. […]