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Private equity investment in the country's telecom sector is likely to surge next year with the introduction of 3G services and rural penetration by telcos, experts say. Analysts believe as operators roll out 3G services by next year, the telecom infrastructure and mobile value added services will see more PE deals materialising in the sector. “As new operators come on board, spending on downstream or ancillary operations like mobile value added services (VAS) and tower infrastructure would be increased,” Venture Intelligence Chief Executive Arun Natarajan said. So far this year, the Indian telecom industry witnessed PE investments worth over USD 300 million through 11 deals. […]
TVS Shriram Growth Fund, managed by Chennai-based TVS Capital Funds Ltd, will invest Rs35 crore in Bangalore-based Dusters Hospitality Services Pvt Ltd and Mumbai-based Total Solutions Facility Management Pvt Ltd. Total Solutions will be merged with Dusters Hospitality in the next 2-3 months and the invested funds will go into the combined business. Both firms provide facility management services and are headed by brothers Shamsher Puri (Duster Hospitality) and Jasmer Puri (Total Solutions). […]
The Aditya Birla group is launching a $500-million Mauritius-based real estate fund that will target investments in India. The fund, which is called the Aditya Birla India Real Estate Vision Fund, has been launched by the group’s asset management arm, Birla Sun Life Asset Management. The real estate fund has a targeted corpus of $350 million and a greenshoe option of up to $150 million. The greenshoe option of the six-year fund is still open. Sources in the Aditya Birla group confirmed the development. […]
Multiplex chain PVR Ltd Friday said it has acquired the cinema business of DT Cinemas, a subsidiary of DLF Group, in a cash-cum-stock deal. According to the deal, PVR will issue 25.57 lakh shares to DT Cinemas representing 10 percent of the fully diluted paid-up share capital of PVR and make a payment of Rs.20.2 crore, the company said in a statement. DT cinemas has a current portfolio of 29 screens with 26 currently operational and the other three expected to commence operations in six months. […]
Under the above arrangement, Major Cineplex Group Plc. would be investing approx Rs420mn into PVR Limited by subscribing to 25.57 lac of new shares. PVR Ltd., one of the India’s leading retail entertainment companies, announced that it is offering 10% of its equity capital to Major Cineplex Group Plc., one of Thailand’s largest entertainment group. Under the above arrangement, Major Cineplex Group Plc. would be investing approximately Rs420mn into PVR by subscribing to 25.57 lakh new shares. The investment by Major Cineplex in PVR would be done at a price of Rs165 per share, a premium of 19% over the closing stock price of Rs139 on the NSE, on Thursday, 12th November. […]
PTC India Ltd, a power trading company, said on Thursday it has selected Ashmore group as its joint venture partner for setting up a third-party fund. The fund structure and joint venture agreement is under negotiation with the partner, the company said in a statement to the exchanges. In May, PTC India had raised 5 billion rupees through a private placement for launching the fund. (Reuters) […]
The founding family of India’s largest real estate company has reached a deal with DE Shaw to buy out the hedge fund’s stake in DLF Asset (DAL), an important step presaging transactions that could lead to a Singapore listing for the DLF affiliate in the first quarter of 2010. DE Shaw will get a little less than $500 million from KP Singh and his family and privately-held DAL will most likely become a majority-owned subsidiary of listed property developer DLF, two persons directly involved in the transaction said. DAL, which buys completed commercial assets from DLF, was set up as a Real Estate Investment Trust (REIT) controlled by the Singh family. A Singapore listing for DAL, which was to have happened in 2008, was shelved following the crash in the global equity markets. […]
The government may consider selling its 8.9% L&T stake it holds via Specified Undertaking of Unit Trust of India(SUUTI) to BHEL, reports CNBC-TV18 quoting Newswire18. When contacted, BHEL’s Chairman this morning said that he is not aware of any such move. But sources indicated that this is part of a larger plan by the government to sell its key holdings in Axis Bank, L&T and ITC, which it holds via SUUTI in case money from auction of 3G spectrum does not come in this financial year. […]
Syndication might have been an oft-used investment strategy for large deals, but it is now finding its way into small and mid-sized transactions too as venture capital (VC) funds try to diversify and de-risk their portfolios. Several recent transactions with a value up to Rs 75 crore have seen participation from two-three investors. For instance, Aavishkar Goodwell co-invested $10 million (around Rs 47 crore) in Basix along with Lok Capital and others. Similarly, JustDial received $16 million (around Rs 74 crore) from three investors — SAIF Capital, Sequoia Capital India and Tiger Capital. […]
Coffee Day Group, the Bangalore-based company with interests in coffee plantations, coffee retailing, infrastructure development and technology investments, has detailed an investment appetite for about Rs 1,700 crore to expand its businesses over the next 3-4 years. The group, better known for its Café Coffee Day chain of coffee bars across the country, in its roadmap has said it will grow its plantation (coffee and banana) by investing Rs 200 crore, retailing business will absorb close to Rs 700 crore and infrastructure development and SEZs will envisage an investment of another Rs 750 crore. Coffee Day Holdings as part of these efforts to expand its business, is closing in on a private equity deal to raise $100-$150 million. “We are talking to 4-5 large private equity funds that have the capability to write $100 million cheque and the deal should be finalised within two months,” Siddhartha added. […]
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