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New Silk Route Invests INR3.6 Billion In Coffee Day Resorts

Asia-focused private equity firm New Silk Route said Monday it has invested INR3.60 billion for an undisclosed stake in Coffee Day Resorts. “The Coffee Day Group…is emerging as an attractive aggregation of businesses in a variety of consumption and infrastructure sectors,” New Silk Route's founding general partner and chief executive, Parag Saxena, said in a statement. Saxena will join the board of Coffee Day Resorts, the statement said. “This investment will be used across the various current and future business of the group, i.e. Cafe Coffee Day, luxury resorts and infrastructure,” […]

Vicat to buy 51% stake in Bharati Cement

Paris-based Vicat has announced an agreement with Y S Jagan Mohan Reddy and other shareholders to acquire 51% stake in Bharati Cement. According to a release issued by Vicat today, Bharati Cement operates a cement plant of two lines in Andhra Pradesh that will reach a total annual capacity of five million tonne at the end of 2010. Y S Jagan Mohan Reddy, an MP, is the son of former Andhra Chief Minister Y S Rajasekhara Reddy who died in an air crash last year. […]

GMR To Raise $100 Mln. Via Private Equity Deal

GMR Group is planning to raise $100 million in private equity for its power business, apart from $515 million it collected this month, reports say, quoting a top official. Bengaluru-based GMR is discussing with firms for the additional funding and hopes to clinch the deal by next month-end, Group Chief Financial Officer Subbarao Amarthaluru said. It is expanding its Indian power capacity to 5,500 MW from 823 MW at an estimated cost of Rs.30,000 crore ($6.7 billion), and is building road projects worth Rs.5,000 crore, he said. Unlisted GMR Energy, the power arm of the group, had raised $200 million in private equity from Singapore's Temasek Holdings in early April. […]

L&T to launch US$300 million infra fund

Mumbai-based construction and engineering firm, Larsen & Turbo is planning to launch a US$300 million private equity fund to invest in power and road projects in India, Bloomberg reported. Quoting the company’s Senior Vice President for Financial Services N Sivaraman, the newswire said the infrastructure major will invest this fund in companies outside L&T. The firm is leaned to be looking for a Singapore-based partner to invest in the fund besides putting in some money from its own. […]