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Allcargo raises Rs 100 cr through QIP

Private Equity backed Allcargo Global Logistics (AGL), a Mumbai based logistics firm, on Friday raised nearly Rs 100 crore through qualified institutional placement (QIP). The QIP proceeds will be used for acquisition in US and India, informed sources. Institutions to whom QIP was done include State Bank of India, Bajaj Alliance, Prudential and ING. In September 2009, New York-based private equity major Blackstone Group invested had invested Rs 142 crore in the company, raising its stake to over 11 per cent from 5.26 per cent stake earlier. Earlier in January 2006, New Vernon had picked up 6 per cent stake in AGL for Rs 60 crore. In a filing to the stock exchanges, AGL had recently informed that it proposed to raise funds not exceeding $150 million equivalent to Rs 700 crore, to meet the long term needs of the company to augment long term resources for investing in expansion and development of its businesses, future acquisitions, capital expenditure, working capital requirements and general business purposes. […]

DLF arm buys out PE stake in group firm for Rs 3,085 cr

Real estate company DLF Ltd said on Saturday that its subsidiary, Caraf Builders & Constructions Pvt Ltd, acquired 24.52 crore compulsorily convertible preference shares (CCPS) in group company DLF Assets from PE firm SC Asia for Rs 3,084.68 crore. The company said the move is in line with its strategy of consolidating shareholding of DAL, a co-developer for four IT/ITES SEZs based in Gurgaon, Chennai and Hyderabad. With this, Caraf's stake in DLF Assets has risen to 91.90 per cent. DSIPL (a company owned by SC Asia) would continue to hold 2.72 crore CCPS, representing an economic interest of 4.59 per cent in DAL. The balance 3.5 per cent is held by DE Shaw. Sources said that before the deal, SC Asia's stake in DAL was 45-50 per cent. […]

EID Parry India announces acquisition of majority holding in GMR Industries

EID Parry India has entered into a definitive agreement with GMR Holdings to acquire majority equity stake in GMR Industries, the agri-business entity of GMR Group. As per the definitive agreement entered into between the parties, GMR Group will divest a majority equity stake such that post the mandatory open offer (as per SEBI regulations), EID Parry would hold a minimum 65% equity stake in GMR Industries. Post the open offer, GMR Group would become a minority share holder in the company.(Bloomberg UTV) […]

Reliance Capital's equity arm invests Rs 100 cr in Pathways

Reliance Equity Advisors (India) Ltd (REAIL), the private equity arm of Reliance Capital Ltd, today said it has invested Rs 100 crore in Pathways World School. This is the first private equity investment made by REAIL. “We feel the education sector offers tremendous growth potential and is poised for rapid growth in the next few years,” REAIL CEO Ramesh Venkat told PTI. “Going forward, we would be looking at more such emerging opportunities in this sector,” Venkat added. He said the fund has a robust investment pipeline and is actively looking at logistics, hospitality and other sunrise sectors. […]