April 2010
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IFC, IBEF Support Small Entrepreneurs in Rural India, with Investment in AU Financiers

IFC, a member of the World Bank Group, will invest 350 million Indian rupees in AU Financiers, a local nonbanking finance corporation, to serve the financial needs of low-income, self-employed, first-venture, and small transport entrepreneurs in semi-urban and rural Rajasthan and other Indian states. AU Financiers expects to reach more than 180,000 small borrowers in five years. The India Business Excellence Fund, or IBEF, a private equity fund managed by Motilal Oswal Private Equity Advisors Private Ltd., also known as MOPE, will invest 200 million Indian rupees in the project. MOPE has invested in the company since 2008. AU Financiers plans to build on its presence in remote areas and grow from a small base to meet the needs of those who find it challenging to access credit for business activities. […]

Templeton PE fund buys 5.3 pct of India's Shiv-Vani

A private equity fund managed by Templeton Asset Management has bought a 5.3 percent stake in India's Shiv-Vani Oil & Gas Exploration Services to help the latter expand globally, Templeton said on Monday. The Templeton Strategic Emerging Markets Fund III invested $20.6 million in Shiv-Vani in exchange for the stake, the fund manager said. “Our investment will fund the ongoing equipment and technology needs that will make Shiv-Vani a force to reckon with in the global arena for exploration services,” Templeton Executive Chairman Mark Mobius said in a statement. […]

Venture fund Sequoia invests Rs.50 crore in Stovekraft

US-based venture fund Sequoia Capital said Wednesday it has invested Rs.50 crore in Stovekraft, a leading manufacturer of kitchen appliances, to fund its growth plan. 'Stovekraft has consistently outperformed the market and demonstrated over 50 percent compounded growth annually. We are backing the company in building a high-quality consumer franchise,' Sequoia managing director Sandeep Singhal said in a statement here. The Bangalore-based Stovekraft's flagship brands, Pigeon and Gilma, address the needs of consumers through an array of products complementing their lifestyle. Gilma branded products are targeted at the premium segment. […]

I-Ventures invests $27m in Star Health

In the first PE deal in the Indian health insurance sector, ICICI Venture on Thursday announced that it was investing Rs 120 crore ($27 million) in Star Health and Allied Insurance Company Ltd. For ICICI Venture this would be the maiden investment from its new $500 million PE fund India Advantage Fund Series 3. The exact stake picked up by the fund is not known. Star Health has grown rapidly since its inception in 2006 to about 3,000 employees. […]

CLSA Capital invests $24m in Equitas

On the back of SKS Micro Finance filing red herring prospectus for a possible IPO, another MFI — Equitas — has managed to attract $24 million from CLSA Capital. While the exact stake picked up by CLSA Capital Partners is not known, sources said it was a minority stake for $24 million. With this, the net worth of the MFI stands at Rs 270 crore, said P N Vasudevan, MD of Equitas. CLSA has made the investment through one of its funds, Aria Investment Partners III, which raised $333 million last month. This is the third investment by the fund and Aria’s ninth investment in India. CLSA Capital Partners is the alternative asset management arm of CLSA Asia-Pacific Markets. It has about $2.6 billion in assets under management. […]

BFSI offers big entry-point opportunities, feel PE, VC cos

Private equity and venture capital (PE/VC) investors are seriously looking at investments in BFSI (banking, financial services and insurance) companies as an attractive “entry point”. The trend is guided by two key themes –– rising domestic consumers and infrastructure spending. PE/VC investors surveyed recently by Venture Intelligence, a research firm focused on private equity and M&A deal activities, selected microfinance, infrastructure finance, service providers to financial services firms (like back offices to mutual funds), banks, stock exchanges and insurance distribution companies as their favorite sectors within the BFSI industry. The survey results have been published in the in the report, Private Equity Pulse on Financial Services, from Venture Intelligence. […]

Oikocredit buys 10 % Stake in ESAF Microfinance

Netherlands based Oikocredit International bought 10% stake in Kerala ( India) based NBFC microfinance ESAF Microfinance and Investments (P) Ltd (EMFIL), through its fully owned Indian subsidiary Manaveeya Holdings and Investments. Through this deal the capital base of ESAF Microfinance has crossed Rs 30 crores. The deal was aimed to generate capital for the company to expand its business. The company aims to reach out to one million poor households by 2014. “ESAF Microfinance always focuses on reaching to the unreached. Our association with Oikocredit reinstates our social mission” said Mr. Paul Thomas, Founder and Managing Director, ESAF Microfinance. […]