March 2010
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Singapore fund invests in Janalakshmi Fin Services

Janalakshmi Financial Services, a Bangalore-based NBFC Microfinance Institution (MFI) promoted by Ramesh Ramanathan, has announced the closure of its Series B funding of $10 million. This round was led by Treeline Asia Master Fund (Singapore), a hedge fund based out of Hong Kong and Singapore. Bellwether Microfinance Fund, an existing investor in the company, also participated in this round. Narayan Ramachandran, who recently relinquished his position as country head of Morgan Stanley India, also invested in Janalakshmi in this round in his personal capacity and has recently joined Janalakshmi’s board. Grameen Capital India acted as the sole advisor to Janalakshmi for this deal. […]

IL&FS arm buys 10% stake in Mobile Store

IL&FS Investment Managers, a private equity arm of IL&FS Ltd, has acquired a 10% stake in The Mobile Store, an Essar group firm, for Rs100 crore, a senior executive from the retail chain said. The stake sale values Mobile Store, a mobile handsets and accessories retail chain, at Rs1,000 crore, added this person who did not want to be identified. A spokesperson for the Essar group confirmed the transaction but declined to elaborate any further. The chain, managed by Rewant Ruia, a scion of the Ruia family and son of Ravi Ruia, vice-chairman of the group, has been on an expansion spree. […]

Mayfield India Fund and SIDBIVenture invest Rs 50 crore in Fourcee Infrastructure Equipment Pvt. Ltd

Mayfield India Fund and SIDBIVenture today announced a new investment in Fourcee Infrastructure Equipment Pvt. Ltd. (Fourcee). Under the terms of the investment, Mayfield India Fund and SIDBIVenture will invest Rs.50 crore in Fourcee to expand their tank terminals, add more uniquely designed containers and grow their infrastructure. This new investment reflects Mayfield India Fund's investment theme of adding value to growth stage companies in the consumer and infrastructure segment. The alliance comes at a time when the industry has shown consistent growth, even in these challenging economic times. Currently, Fourcee is the only company focused on providing end to end logistics solution for liquid cargo through road and railways using its own specialized designed containers. Mayfield India's and SIDBIVenture's investment provides an exciting opportunity for Fourcee to expand its footprint and offer unique logistic solutions in India […]

India sees PE exits worth USD 757 mn in 2 months

Private equity (PE) players in India have offloaded stakes worth USD 757 million in the first two months of this year driven by a significant recovery in the stock markets and hopes of continuation of this trend, believe experts. According to VCCEdge, the financial research platform of VCCircle, January 2010 saw 13 exits worth USD 282 million, while February witnessed as many as 10 worth USD 475 million. “PE funds are under pressure to make some exits before they set out to raise new funds. They will continue to use every opportunity available to exit as long as they see a good return,” […]

PE firms raise exposure to India`s logistics sector

Private equity investments in India's logistics services sector are set to rise as it gears up to improve transportation – with costs among the most prohibitive in the world – and boost related infrastructure bottlenecks. The last four years have seen considerable growth in mergers and acquisitions (M&A) in logistics, ports, warehouses and container freight stations while Free Trade Warehousing Zones (FTWZ), freight stations, cold chains and captive spin-offs such as auto and retail logistics are seen as attractive targets now. While analysts expect logistics to be among the top five sectors for PE investments in India in the near term, deal sizes will likely be around $20-$25 million, which is where most planned PE ticket sizes converge. […]

Siva Group buys 50% stake in Norwegian glacial water company

Indian diversified conglomerate Siva Group on Wednesday said that it has bought a 50% stake in the Norway-based glacial water company Isklar for around $22 million, through its wholly-owned subsidiary Lotus Venture. “This present acquisition reinforces the vision of Siva Group and we will look forward to expand operations of the brand in other international markets,” Siva Group chief executive Vaidyanathan Srinivasan told PTI. He said that Isklar was established as a joint venture between Sabco, a Middle East-based water bottler and Norwegian firm Jova Holdings. After the transaction, Isklar would become a joint venture company with the Indian Siva Group's holding at 50%, with Sabco and Jova Holdings jointly commanding the remaining stake. […]