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Private equity (PE) players are bullish about deal flows following the strong election mandate and expect the focus to be on growth-oriented sectors and improved sentiments in the equity market to provide an exit option. “India is predominantly growth capital market for private equity players. The case for India now becomes even more compelling with political stability. The valuations need to be looked in the context of growth quantum of earnings in future and certainty of achieving that. In a stable economic environment and moderate interest regime, the risk appetite does look up,” Bharat Banka, managing director and chief executive officer, of Aditya Birla Private Equity, said. Gaurav Malik, managing director of Olympus Capital Holdings Asia agreed and said conditions have improved since March, as negative news flow has stopped. […]
The United Stock Exchange of India (USE) has picked up 10% stake in International Multi Commodities Exchange (IMCE), the new commodity futures exchange, promoted by Indiabulls and Minerals and Metals Trading Corporation (MMTC) for an undisclosed amount. With this, IMCE has achieved closure of its entire capital structure of Rs 100 crore as per the latest ownership guidelines of the government. This is the first commodity bourse in India to conform to the revised ownership criteria which mandates participation of public sector units/co-operatives and also a more diversified shareholding pattern. […]
Share Microfin, a regulated microfinance institution, is looking to raise close to Rs 250 crore through the private equity route. The Hyderabad-based company started in 1989 and having close to 2 million clients spread over 16 states in India, has made a total disbursement of Rs 5,100 crore with an outstanding portfolio of Rs 1,100 crore. According to recent statements from the company it has plans to reach out to more than 15 million clients in 20 states with a total disbursement of Rs 39,610 crore in the next four years. Share broadly follows the Grameen operating model and lends mainly to women joint liability groups. The company has diversified its product range and is now offering individual loans for micro enterprises as well as personal loans. The company is also offering non-credit based services including money transfer, credit life insurance and health insurance. […]
PTC India is planning to form a private equity fund for power projects through money raised via a qualified institutional placement of shares, its top official said on Thursday. The company recently raised 5 billion rupees through qualified institutional placements (QIP) and part of this money will be an anchor for the PE fund, Chairman and Managing Director T N Thakur told Reuters over the telephone. “We will try to leverage it either through equity syndication or through setting of a fund…most probably we will go with a fund route,” he said. […]
Oman Oil Company (OOC), the Gulf nation's national oil company, has sought to increase its 2 per cent stake in Bharat Petroleum Corporation's Bina refinery project to 26 per cent, for about $250 million. OOC has so far invested Rs75 crore in Bharat Oman Refineries Ltd (BORL), a joint venture with Bharat Petroleum, which is building a six million-tonne-a-year refinery at Bina in Madhya Pradesh, at a cost of Rs10,400 crore. “We want to increase our equity (in the project) to 25-26 per cent. We are in discussions with BPCL,” Omani oil minister Mohammed bin Hamad Al-Rumhy said. BORL was originally planned as a joint venture in which BPCL and OOC will hold 26 per cent stake each, with the remaining going to the public and strategic investor. […]
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