April 2010
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Tata, Actis to roll out $2 bn JV for road projects

Salt-to-steel conglomerate Tata Group is forming a joint venture with private equity investor Actis that could spend $2 billion (about Rs 8,900 crore) in building roads over five years, as Indian and foreign investors seek to cash in on opportunities created by the governments attempt to upgrade the countrys network of highways, the third largest after the US and China. Tata Realty & Infrastructure, a company set up by the Tata group to foray into the roads and highways sector, will own 65% of the venture, called TRIL Roads Pvt Ltd. Actis will own the rest, Tata Realty managing director & CEO Sanjay Ubale told ET. Actis will pay $77.5 million, or Rs 345 crore, to buy the stake in TRIL Roads in its first investment in the Indian infrastructure sector, said its partner Michael Till. […]

Reliance Capital PE’s first deal is in education

In its first investment, the private equity (PE) arm of Anil Ambani-controlled Reliance Capital Ltd has purchased a stake worth Rs100 crore in Pathways World School, a group of schools for students from kindergarten to Class XII. The size of the stake acquired by Reliance Equity Advisors (India) Ltd hasn’t been disclosed. Reliance Equity Advisors is seeking to tap annual growth in the education sector that its chief executive officer Ramesh Venkat estimates at 50-60%. A recent report by education-focused PE fund Kaizen Management Advisors Pvt. Ltd has estimated that the so-called K-12 segment (kindergarten to Class XII) is a $20 billion (around Rs89,000 crore) business. “Also, there are a lot of government initiatives and policy changes which are attracting investment in the sector,” Venkat said. […]