January 2010
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Educomp to acquire StudyPlaces.com

Delhi-based e-learning solutions provider Educomp Solutions plans to acquire StudyPlaces.com, which is owned by Zaptive Internet Services. Under the deal, Educomp will buy the domain name and other existing contracts of Zaptive and will allot equity shares on a preferential basis of up to $1.5 million in exchange. StudyPlaces helps students find, compare, evaluate and then select the right course, institute and country for their further study. In January 2008, StudyPlaces.com raised $3 million from venture capital firms Kleiner Perkins, Caufield and Byers (KPCB), Ram Shriram's Sherpalo Ventures and the internet company Info Edge India (the Naukri.com group), with each entity investing $1 million in the company. […]

India-focused PE firm BTS Investment Advisors to launch $150m green fund

BTS Investment Advisors, a Zurich-headquartered private equity firm that specialises in investments in India, is reportedly readying the launch of a new $150m fund. The firm BTS is looking to inaugurate the fund before April 2010, and aims to reach the $150m mark within a year. The fund will target companies in the wind, biomass, water and energy equipment fields in India. Additional funds managed by the firm include a $22m Swiss technology fund and a $75m India-targeted private equity fund. Notable investors in the firm’s funds include Asian and European governments and the Asian Development Bank. […]

Intermediate Capital buys 47% in LPO firm CPA Global for 440 million pound

mediate Capital Group (ICG) on Friday bought a 47% stake in legal process outsourcing firm CPA Global, a Channel Island-based firm with over half of its 1,500 employees working out of Gurgaon and Noida in the national capital terrirory. A privately held firm, CPA Global is one of the largest legal services outsourcers in the world with over a billion dollars in revenue . London-based ICG bought the stake in a deal reportedly valued at 440 million pound. Anand Sharma, CFO, Head of management services at India for CPA Global, told ET that the buyout will benefit India operations. “ICG has been a long-term investor , and legal services outsourcing being a core business driven out of India, will get a boost. We plan to increase our India headcount to 1,000 employees by July this year,” he said. […]

Srei-led consortium buys 57% in DPSC

With the disinvestment of DPSC, an erstwhile subsidiary of Andrew Yule being complete, the SREI-led consortium, the new owner of the company with a 57.17 per cent stake, on Friday reconstituted the board. Orbis Power Ventures, the Special Purpose Vehicle floated by Srei to acquire DPSC, will now make an open offer for 20 per cent additional stake in DPSC on Saturday itself, Hemant Kanoria, Chairman-cum-Managing Director, Srei told Financial Chronicle. Kanoria said that they had paid the entire amount of Rs 171.85 crore to Andrew Yule, LIC and United India Insurance, who had offloaded their stakes in the company. LIC and United India Insurance hold 30.61 per cent and 11.36 per cent in DPSC, respectively, while Andrew Yule enjoys a 15.2 per cent stake. This coincided with the Supreme Court on Friday quashing and refusing to admit two pending cases: one by Descon, the largest shareholder in DPSC, and the other by the Trinamul Congress backed DPSC union in this regard. […]

Asia Bridge invests in Alok's retail subsidiary

Alok Industries, a Mumbai-based vertically integrated textile player, has roped in Asia Bridge as a private equity player for its retail subsidiary – Alok H&A. The deal size is of Rs 45 crore. Alok H&A is engaged in the cash and carry business of apparels and home textiles across the country with its 150 stores at present. The company has drawn up a massive expansion plan with a view to achieve a pan-India footprint and is eyeing 1,000 stores in the next three years. The company, by the end of the current financial year, will take the number of stores to 250. And in FY11, the textile major is aiming to add another 250. […]

Aptech to acquire 100% stake in Maya Entertainment Ltd

Aptech Ltd has announced that the Board of Directors of the Company at its meeting held on January 27, 2010, inter alia, has approved the proposal to acquire upto 100% of the share capital of Maya Entertainment Ltd, subject to the execution of necessary definitive agreements. Subject to approval of the shareholders of the Company in general meeting, the Board of Directors of the Company has approved the Preferential Issue of upto 22,50,000 equity shares having a face value of Rs. 10/- each (“New Shares”) subject to the guidelines prescribed under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 by the Company to certain shareholders of Maya Entertainment Ltd as a part consideration of acquisition of the shares of Maya Entertainment Ltd. […]

Yes Bank raises $225 mn via share sale to institutional buyers

Private sector lender Yes Bank on Thursday said it has raised $225 million (about Rs 1,034 crore) through private placement of shares to institutional investors. “The issue of $225 million, was significantly oversubscribed on strong demand from foreign institutional investors and domestic mutual funds,” Yes Bank said in a statement. The bank will issue 3.84 crore equity shares at Rs 269.50 per share to institutional investors under the Qualified Institutional Placement (QIP), which would raise the overall capital adequacy of the bank to over 20 per cent. […]

BTS Investment Plans $150 Million Clean Energy Fund in India

BTS Investment Advisors, a private equity fund based in Zurich and Mumbai, plans to start a $150 million fund to invest in Indian clean energy companies amid rising interest in green power to fuel Asia’s top economies. BTS expects to start the fund by April with an initial $60 million and increase that to $150 million over the next year, Managing Partner K. Srinivas told Bloomberg News by phone. Clean-energy investment in Asia surpassed the Americas for the first time in 2009 as economic growth and reduced losses from the subprime crisis allowed greater spending, data from Bloomberg New Energy Finance showed. The region is home to the world’s two fastest-growing major economies, China and India, which are also among the four biggest polluters. […]

Biocon's Clingene, SIRO Clinpharm in alliance talks

Biotechnology major Biocon’s clinical services arm Clingene is actively exploring an alliance with Mumbai-based clinical research organisation SIRO Clinpharm. “We are looking at an alliance with SIRO Clinpharm that could entail bundling of complementary services. While we have a human pharmacology unit they have data management services,” Biocon’s CMD Kiran Mazumdar Shaw said adding that “although these are ongoing discussions, no alliance has fructified yet.” SIRO’s head of corporate marketing, Aniruddh Patwardhan, also confirmed that the two companies had initiated talks some time back. […]

IL&FS Education Unit Raises INR1.2 Billion From India Equity Partners

IL&FS Education and Technology Services Ltd., the education unit of the IL&FS Group, said Wednesday it has raised INR1.72 billion from private equity company India Equity Partners. The funding will help IL&FS Education and Technology Services achieve its medium-term growth targets, Hari Sankaran, managing director of IL&FS, said in a statement, without elaborating. […]