|
|
The last few months have witnessed a spurt of private equity investments in the kidswear market in the country. In April, Delhi-based kidwears brand Lilliput had two rounds of PE infusion from Bain Capital and the Texas Pacific Group for a 35% stake in the company, followed by Catmoss selling around 30% stake to Hong Kong-based Saif Partners. The investment has been significant. Both Bain and TPG together pumped in more than Rs 350 crore in Lilliput, while the Catmoss transaction was estimated at Rs 70 crore. India’s kidswear market in organised retail, which is estimated at Rs 3,500 crore, is growing at an annual rate of 10%. The premium segment brands such as Lilliput and Benetton are vaulting at 20%. […]
Global private equity firm Carlyle Group today said it has invested $140 million (over Rs 650 crore) for equity stake in four Asian companies, including India's Tirumala Milk Products. The US-based PE major released a statement announcing the closure of four growth capital investments across Asia, including South India's second-largest private dairy player Tirumala Milk Products, China's largest ATM deployer ATMU Inc and two Korean companies, HKucar Global Co and EO Technics. Commenting on the investment, Wayne Tsou, managing director and head of CAGP said: “It reflects the proven abilities of our seasoned local investment professionals in each of the focused markets to seize attractive investment opportunities.” […]
Diversified business conglomerate Essar Group Sunday said it will acquire Avaya's 59.13 percent stake in converged communication solution provider AGC Networks for Rs.206.19 crore ($44.5 million). 'The Essar Group will acquire Avaya's entire 59.13 percent stake in BSE/NSE-listed AGC Networks for USD equivalent of Rs.206.19 crore, or Rs.245 a share, subject to customary Indian regulatory requirements and completion of the open offer,' it said in a statement. The acquisition will help catapult Aegis, in which Essar Services Holdings Ltd (ESHL) invests, into top-tier of solution integrators (SI) space. […]
In the first five months of this year, there were about 15 deals worth $537 million as against $642 million in the whole of last year. Pipe Investments were in decline over the past two years after it peaked out in 2008 when a record $3.3 billion worth of deals were reported. Several top PEs like Blackstone, Bain Capital, Templeton, New Silk Route, IFC and Apollo Asia are among the players that made PIPE investments this year. Blackstone has done three deals this year, where it has invested in JK Tyre, Ess Dee Aluminium and Orbit Corporation. Among the larger deals were CX Partners’ Rs 150-crore investment in Monnet Ispat & Energy, IFC’s Rs 100-crore investment in Cholamandalam DBS Finance and Rs 96-crore investment by Temasek Group firm Aranda Investments to buy 4% stake in real estate company Sobha Developers. Analysts are estimating that this year PIPE deals could touch close to $1.5-billion mark as private equity players are seeing value in the listed space and they could buy into the downside. […]
GMR Infrastructure said on Thursday a private equity fund, IDFC Private Equity Fund III, and four other investors have agreed to invest Rs 465 crore (USD 99.63 million) in its unit, GMR Energy. Infrastructure Development Finance Company, IDFC Investment Advisors Ltd Argonaut Ventures and Ascent Capital Advisors India Pvt Ltd are the other investors in the power utility, GMR Infrastructure said in an exchange filing. On 19 April, group chief financial officer, Subbarao Amarthaluru, told Reuters that the group wants to raise additional USD 100 million in private equity for its unlisted power unit in about one and half months. […]
The Carlyle Group, a global alternative asset manager with $88.6 billion of assets under management, has invested $22 million (approximately Rs 102 crore) in Andhra Pradesh-based dairy company Tirumala Milk Products Private Limited. The funds will be used for expanding its procurement network, processing capacity, entry into new markets and for the manufacture of new value-added products. This investment into Tirumala, which has an installed capacity of 1.35-million litres per day across five processing plants, comes from Carlyle Asia Growth Partners IV (CAGP IV), a $1.04-billion fund. Carlyle has already made five investments in India from the previous fund, Carlyle Asia Growth Partners III (CAGP III). […]
The existing private equity partners of Apollo Hospitals, such as Apax Partners, Bisikan Bayu Investments (Mauritius), an investment arm of Khazanah, and Clsa (Mauritius), are likely to pick up stakes in Apollo Pharmacy, the retail pharmacy business of Apollo Hospitals, as the parent is seriously looking at hiving it off into a separate entity. Similarly, Apollo Hospitals would also look for partners for its nursing training business, Apollo School of Nursing, to unlock the value of each business entity of the group, sources close to the development said. Apollo Hospitals, which has been scouting for investors over the last few years for its retail pharmacy business, is expected to get strong support from the existing PEs, as a sizeable chunk of the 1,050 stores showed encouraging Ebitda margins during the last financial year. The rest of the outlets are expected to follow suit in coming months, sources pointed out. […]
Rabobank is said to be planning of selling its stake in Indian private sector bank, Yes Bank. It currently has 15.9 per cent stake in it. Rabobank, which is Netherlands based, is planning for the exit strategy since it wants to open its own branch in the country. Till now, it was hoping to grab a piece of the Indian banking sector through the partnership but has since felt that it is not getting enough out of the partnership. Because of this, the 110 year old bank which is also into the business of dealing with agriculture, decided to go solo. Also, the Indian regulations say that for a foreign entity to open its branch in India it needs to have some stake in domestic bank. […]
controlling stake in Over-The-Counter Exchange of India (OTCEI) from some of the exchange’s existing institutional investors, according to officials close to the development. The officials said that R-ADAG put in a bid of Rs 90 crore and that there was close competition between MCX-SX and ADAG for acquiring control of the exchange. However, when contacted an ADAG group official declined to comment. Apart from the two, the BK Modi group had also expressed interest in buying an equity stake in the Mumbai-based exchange that was incorporated in 1991, three years before NSE was established. The rules on ownership of stock exchanges restrict a single investor’s shareholding at 5%. According to officials, the entity acquiring a controlling stake in OTCEI will have to approach market regulator Sebi for greater clarity on this issue. […]
Indian tower and telecom infrastructure company GTL Ltd. is close to an agreement with Qualcomm Inc. of the U.S. to take an up to 26% stake in the latter's proposed broadband wireless access services company, the Business Standard reported on its website Monday, without citing direct sources. The deal is subject to Qualcomm being awarded a pan-India license or a license in some of the 22 circles in the ongoing auction for broadband wireless access spectrum, the website said. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|