September 2009
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NEPC to raise Rs 4,000 to 5,000 crores

Natural Energy Processing Company (NEPC) India Ltd is planning to set up a special economic zone (SEZ) at Palladam near Coimbatore with an investment of around Rs 2,000 crore. The company is also talking to private equity investors to fund the project. Ravi Prakash Khemka, chairman NEPC India Ltd said that the company is planning to set up solar and Photo Voltaic plant in the SEZ, to which the construction is expected commence from January 2009. Total investment would be around Rs 2,000 crore. Once the project takes shape, the company is expecting Rs 4,000-5,000 crore from investors and would provide employment to 5,000-6,000 people both directly and indirectly. […]

India's first education PE to raise $150-200 million

Kaizen Management Advisors, India’s first education-focused private equity (PE) fund, will close a $150-200 million (around Rs 720-960 crore) fund by the middle of next year. The fund is looking at investing in two education institutions by the end of this year. Kaizen was set up in mid-2009 and has a 10-member team in India. At present, it is managing capital raised from domestic institutions and high networth investors. “Later this year, we will target international investors who are keen to tap the massive recession-proof education sector in India. We are currently evaluating more than a dozen investment opportunities,” said Sandeep Aneja, MD, Kaizen Management Advisors. […]

Financial Technologies to raise Rs 1,500 cr via various routes

Financial Technologies India, promoter of country's leading commodity exchange MCX, today said it will raise Rs 1,500 crore by issuing shares in the international markets and by private placement of shares with buyers. The company would raise funds by issuing shares in the form of Global Depository Receipts, American Depository Receipts and Foreign Currency Convertible Bonds, Financial Technologies said in a filing to the Bombay Stock Exchange […]

Rabo Equity buys 26% stake in Geepee Agri

Private equity firm Rabo Equity Advisors, a part of Dutch banking major Rabobank, on Tuesday said it has picked up 26% stake in Geepee Agri Private Ltd for an undisclosed amount. The stake has been purchased through its India Agri Business Fund, Rabo Equity said in a statement. Geepee Agri, which has plants at Kota in Rajasthan and Akola in Maharashtra for crushing oilseeds, is planning an expansion in the palm oil segment. Currently, the company distributes refined soyaoil under its brand “Parampara” in Rajasthan, Maharashtra and Chhattisgarh. […]

Carlyle sees more deals in SE Asia than India

U.S. buyout giant Carlyle sees more deal opportunities in Southeast Asia than in India and is ready to make more investments in the next 20 months as the regional economy recovers fast, a senior executive said. X.D. Yang, a managing director for Carlyle's buyout fund in Asia, said on Thursday that the so-called Greater China area, including Hong Kong, mainland China and Taiwan, remained a regional deal focus for Carlyle, although he acknowledged difficulties in doing controlling deals in China. Buyout opportunities for private equity firms among Indian companies are limited because Indian firms find it easy to list on the domestic stock market and many family businesses are not up for sale, Yang told Reuters on the sidelines of the SuperReturn Asia Conference. […]

Sanofi-Aventis scans India for acquisitions

Sanofi-Aventis, the $42-billion French drug maker, which bought companies in Brazil, Mexico, and the home-grown Shanta Biotech this year,has sent a delegation to India to finalise another target for acquisition in a market that is estimated to be worth more than $17 billion and growing, two persons familiar with the matter said. The top team from Sanofi met executives at some Indian pharma companies, including the country’s fourth-largest drug maker Piramal Healthcare and privately-held Micro Labs, for a probable acquisition. This is the second time that Sanofi is courting Piramals this year, people aware of the negotiations said. But Piramals denied it saying they are negotiating for a stake sale. […]

L&T Finance to buy out DBS Chola AMC

L&T Finance, the financial services arm of infrastructure giant Larsen & Toubro, is set to buy 100% stake in DBS Cholamandalam Mutual Fund for Rs 45 crore, reports NewsWire18. The loss-making DBS Chola was set up as a joint venture between Singapore’s DBS Bank and Chennai-based Murugappa Group.L&T Finance recently raised USD 200 million via a retail bond sale. Pointing out in a statement that DBS Chola had assets under management (AUM) to the tune of Rs 2,893 crore, L&T Finance said the buy would help the company “widen, deepen” its services. […]

QIP investments outpace PE funds by at least eight times

Qualified institutional placements (QIPs) have outstripped private equity (PE) funding since January by at least eight times, making it by far the most popular fund-raising route for firms this year. QIPs raised at least Rs21,209 crore since January this year, while PE funds invested only Rs2,574 crore in listed firms. Mint on 15 September reported that QIPs have raised close to more than twice of initial public offerings. A QIP is a private placement by a listed company of shares or securities convertible to equity with qualified institutional buyers approved by market regulator Securities and Exchange Board of India. Data from Delhi-based investment bank SMC Capitals Ltd shows another 48 QIPs worth Rs43,891 crore are in the pipeline. […]

Dish TV to raise $200m

Local reports say that Subhash Chandra’s Dish TV India is to raise $200m from an issue of Global Depository Receipts in order to fund expansion. Dish had previously sought government permission (from its Foreign Investment Promotions Board) to raise around $150m but using a different financial instrument, a Foreign Currency Convertible Bond. Local reports say that Dish TV and/or its Essel Group parent will use the permission to raise equity capital as well as general funding. […]

Cityland to raise $6 mn for realty venture

The promoters of Cityland Technologies plan to raise $6 million (Rs 29 crore) to fund the expansion plans of the company’s business process outsourcing (BPO) arm Cityland BPO as well as foray into real estate consulting. The company plans to raise $5 million as seed capital for its real estate services venture Cityland, which will be started sometime this year, said Srinivasarao Kanneganti, chief executive officer, Cityland Technologies. Cityland is currently in talks with a few private equity players and angel investors to raise funding for the venture, though nothing has been finalised yet, Kanneganti said. “We are looking for angels, VCs and private equity players who can fund our plans and also join our board in an advisory capacity,” he said. […]