|
|
India’s education and training market is a $40-billion opportunity for investors. Around 350 private equity and venture capital (PE/VC) firms in India are looking at the education sector. Sitting over $10 billion, they plan to invest $500 million (Rs 2,300 crore) in the sector. India’s education and training market was a $40-billion opportunity for investors with schools and colleges capable of attracting around $28 billion, said PE players. No wonder investments in the sector are likely to double in 2010 compared to 2009. The sector figures among the top three investment destinations among PE players. In 2009, PE investments in education saw a three-fold rise. According to data from Grand Thornton, PE investments in the sector went up from $35 million in 2008 to $108 million till October 2009. […]
After a lacklustre 2009, when private equity (PE) fund raising was low, India-focused PE funds are set to raise nearly $2 billion in the first half of 2010. UTI Ventures, Multiples, floated by Renuka Ramnath, ex-CitiVenture Ajay Relan’s CX Partners and Everstone Partners are close to raising nearly $2 billion overall. Industry sources said Ramnath had raised nearly $300 million of the targeted $450 million while UTI Ventures was set to close a $350-million fund. “Ajay Relan, who led Citigroup’s venture arm for a long time, is raising $400 million and is understood to have managed his first closure of $225 million. Everstone Capital, a spinoff from Future Group, is on track to raise nearly $300 million,” a source in the know told Business Standard. […]
Prysmian acquires 51% of Ravin Cables LTD, active in India and in the United Arab Emirates The new JV gives Prysmian a manufacturing presence in two high-potential markets, particularly in the high added value utilities business. The Prysmian Group, a world leader in the energy and telecommunications cables industry, has taken a majority 51% controlling stake in the Indian group of Ravin Cables for an overall investment of around 26 million euro. With turnover of around 45 million euro in the financial year april 2008 – march 2009 and EBITDA of 4.4 million euro, Ravin is one of India's most competitive and reputed cable manufacturers, with a range including low and medium voltage cables and a market that also extends to Africa and the Middle East. Apart from its principal manufacturing facility in Pune, near Mumbai, Ravin is also present in the Emirate of Fujairah with the company Power Plus Cable Co LLC, a joint venture with the Government of Fujairah, and for which it is in charge of operational management. Power Plus is already equipped to produce high voltage cables. The group has a total of 355 employees in its two facilities in India and the Arab Emirates. […]
The evergreen and recession-proof characteristics of the education sector are drawing interest among private equity firms. Billed to be a $80-billion market, the number of private equity deals in the education space has grown four-fold in the last four years. According to Venture Intelligence, a Chennai-based research firm focused on private equity and mergers & acquisitions, eight deals worth $121 million were sealed in 2009, compared with just two deals worth $73 million in 2006. The first educational institute to get venture capital funding in India was Career Launcher from Intel Capital as early as in 2000. And last week, India Equity Partners invested Rs 172 crore for a 26% stake in IL&FS Education and Technology Services, which provides training to schools, colleges and to the government and corporate sector. […]
Private equity transactions in India fell by a significant 68 per cent in 2009 as investors resorted to a wait and watch approach amid the slowdown. According to a report by global consultancy firm Grant Thornton, there were 206 deals in 2009 with a total announced value of USD 3.44 billion (Rs 15,953 crore), a fall of 68 per cent from the year ago period (2008) when as many as 312 deals worth USD 10.59 billion were announced. There was, however, an upsurge in fund raising activity through institutional placement. “In the absence of active private equity participation, several large companies turned to qualified institutional placement (QIPs) to fund their renewed acquisition appetite. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|