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ACK Media acquires India Book House

ACK Media has acquired India Book House (IBH) as part of its strategy to develop `end to end` content, distribution and experience delivery capabilities for family entertainment. The new entity will be one of the largest integrated publishing and distribution firms in India. Speaking at the announcement Samir Patil the CEO and founder of ACK Media said , “This acquisition is essential for our overall strategy of expanding the children`s media category to all forms – print, video, games, toys, merchandize, and other products. We are keen to have a direct relationship with the end customer and this is one step forward.“ ACK Media is also looking to raise nearly Rs 1 billion in the next 18 months to expand its portfolio of products and promote itself in India and abroad. […]

Bank of India plans asset management business, looking for a partner

State-run Bank of India is planning a re-entry into asset management business five years after scrapping its solo venture and is looking for a foreign partner, the Mint newspaper said on Tuesday. Senior Bank of India officials could not be immediately reached for comment. The bank would retain majority 51% stake in the venture and wants a partner with proven expertise in handling the business, the paper quoted an unidentified senior official with the bank. Watch CNBC-TV18 live only on MYTV >> RELATED NEWS RBI: Difficult for H1 borrowing to be cut Also Read See latest News about Bank of India See previous management interviews See what other Experts & Brokerages are saying about Bank of India RSS feed for news Click here The bank has identified five or six players, who can bring offshore funds, and would make a shortlist before starting dialogue, the paper quoted the senior official as saying. […]

GMR Infra to raise $100 mln in energy unit

GMR Infrastructure will announce a $100 million private equity investment in its energy unit in a week, a senior company official said, without elaborating. The private equity deal in the energy unit GMR Energy should be closed this week and there was no plan to list the unit this fiscal, Group Chief Financial Officer Subbarao Amarthaluru told Reuters over the telephone on Tuesday. GMR Energy, which has an installed capacity of 800 megawatts and plans to increase it to 5,500 megawatts, raised $200 million in private equity from Singapore state investor Temasek Holdings last month. GMR Infrastructure also raised $315 million from a share sale to institutions last month. […]

Net4 India to raise 8 cr via PE for expansion

Leading Network and Application services provider Net4 India today said it has approved raising 8.04 cr via preferential allotment to Granite Hill India Opportunities Fund, for its expansion drive. Net4 has also posted impressive results for the year ended March 31, 2010 with the consolidated sales of Rs 195 cr (up by 21%) , a 36.9% rise in PAT at Rs 11.5 cr and a 32.67 % growth in EPS to Rs 6.66. Granite Hill India Opportunities Fund comes in as the second PE participant with Net4 diluting 4.7%. Earlier Madison India Capital had invested Rs 14.9 cr acquiring a 9.2 % stake in the company. Apart from expanding its service bouquet, Net4 is also setting up a large 30,000 sq ft Data Centre at Chennai. […]

StanChart PE eyes 15% in CK Jaipuria Group

Standard Chartered Private Equity fund is in talks to buy a 15% stake in bottling company CK Jaipuria Group for as much as Rs 150 crore. The bottler for PepsiCo in India may use the funds to diversify into hotels and restaurants business and also expand the bottling business, said a person familiar with the plans. CK Jaipuria, chairman & MD at the bottling company, did not respond to an e-mail on the issue. Nainesh Jaisingh, managing director at the Standard Chartered PE fund declined to comment for the story. The PepsiCo bottler’s earlier efforts to get funds from Motilal Oswal Private Equity Advisors and Beacon India Private Equity Fund failed for undisclosed reasons. […]

M&M buys 55.2% stake in Reva; to up capacity 5-fold

Tractors & utility vehicles giant Mahindra & Mahindra (M&M), on Wednesday, said it acquired 55.2 per cent controlling stake in electric car-maker Reva through a combination of equity purchase and fresh capital infusion. M&M will spend Rs 45 crore — Rs 15 crore for buying existing equity and another Rs 30 crore in the form of fresh capital which will be invested in the new plant of Reva in Bangalore. The company will now be named Mahindra Reva Electric Vehicle Company Limited with M&M Automotive Sector President Pawan Goenka as the Chairman and Reva’s Chetan Maini as Technology & Strategy Chief. The new board will include five nominees from M&M, two from Maini family, and one from AEV LLC, California, co-founders of Reva and an independent director will be inducted in due course. […]

PE funds elude banking industry

The domestic banking industry does not appear to be a major investment hotspot for private equity (PE) players. The absence of clarity on mergers and acquisition (M&A) norms seems to have prompted PE players to adopt a wait-and-watch policy. PE firms, which infused Rs 2,250 crore into the banking system in 2007, have developed cold feet in providing funds to the sector, even as the economy showed signs of recovery and PE funding have once again taken off. The figure had doubled in a span of one year. However, in 2010, no banks have received any PE funding. According to Venture Intelligence data, Centurion Bank of Punjab, Yes Bank, UTI Bank, South Indian Bank and ICICI Bank had received PE funding […]

ICICI Venture plans to float public issue

The private equity arm of ICICI Bank Ltd is considering a public issue though it will move ahead only after it launches a greater variety of funds to create an “alternative asset platform”, its new managing director and chief executive said in an interview. Such a listing would be unusual even by global standards. Private equity has come to the public markets only fitfully, with the most famous instance being the public issue of the Blackstone Group in June 2007 on Wall Street. In India, only IL&FS Investment Managers Ltd is listed on the local exchanges. The future listing goal and more immediate plans to float new funds is part of a renewed expansion drive that comes in the wake of a difficult year when ICICI Venture Funds Management Co. Ltd had to manage investor worries and build a new team. […]