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IL&FS Investment Managers (IIML), the country’s largest private equity fund, is close to exiting at least six of its investments, mainly in the real estate sector by the end of the current fiscal. The private equity firm, with over $2.8 billion of assets under management, will raise around Rs 1,500-2,000 crore through the exits, which are mainly due to the maturing of the investment horizon, according to vice chairman Shahzaad Dalal. The returns could average 25-30% from the real estate investments that were made about five years ago. “We hope this is the right time to unlock few of our investments. We have already identified three real estate investments for exit and are evaluating a few more,” said Mr Dalal. However, he refused to disclose the name of the companies. This move has come at a time when real estate sector has started looking up and ready to provide better returns on investments. […]
Private equity (PE) players are again ready to look at small and medium enterprises (SMEs). “The conservativeness of investing in the secular sector has faded and PE players are ready to put their money in emerging areas with high growth rates,” said Sharath Naru, managing partner of PE firm Ventureast. In the economic downturn, most PE firms invested in secular sectors like health care, pharma and agri industries to protect their corpus. Now, investors are increasingly looking at high-growth verticals such as technology and renewable energy. Ventureast, which invests around $5 million in the first round and has a investment horizon of five to seven years, is also betting big on these verticals, says Naru. Naru said the firm had closed two new deals this financial year with the second round of funding for another two companies expected this fiscal. “We expect to close six deals this fiscal,” he added. […]
ANC Holdings LLC, the Dubai based conglomerate with business interests in construction, foods, education, trading, hospitality, process and real estate, has acquired a 10 per cent stake in troubled India Steel Works Limited (ISWL) in an all-cash deal worth Rs 190 million. This is the company’s second biggest acquisition in a month, among a series of others announced this year. ANC Holdings also plans to expand its shareholding in the Mumbai-based steel company within a year, to improve its prospects, an official told Indian media. “We will definitely look forward to buying more stake in ISWL. Probably, in a year’s span, we’ll purchase more equity and also ensure that the company expands capacity,” Mahesh K Sheregar, a director with ANC Holdings was quoted by Economic Times. Sheregar has already joined the ISWL board. […]
Aiming to strengthen its presence in commodity trading business, Anil Ambani group is looking at acquiring 26 per cent stake in Indian Commodity Exchange (ICEX) from one of the promoters Indiabulls group. Indiabulls has also approached sector regulator Forward Markets Commission (FMC) seeking its nod for sale of 26 per cent stake to ADAG firm Reliance Exchange Net. When contacted, FMC Chairman B C Khatua told PTI that commodity market regulator has been approached by the ICEX, but it is yet to take any call on that. ICEX Managing Director and CEO Ajit Mittal also confirmed talks with Reliance Exchange Net, but added that nothing has been finalised as yet. […]
Optical media equipment major Moser Baer's power subsidiary Moser Baer Projects Private Limited (MBPPL) Wednesday said it has attracted an investment of Rs.1,350 crore from Blackstone. The company, which is building a number of thermal, solar and hydro power projects, plans to commission 5,000 MW by 2016. “This will enable us to deliver reliable and affordable power that India needs to support its continued economic growth,” said MBPPL Founder Deepak Puri. Blackstone officials said the energy sector is an attracttive long-term investment destination. […]
US private equity giant Blackstone Group said Wednesday it expects to double its India investments to up to three billion dollars over the next five years. The company aims to target infrastructure and the fast-growing consumer sectors, said Akhil Gupta, chairman and managing director of Blackstone Advisors India Pvt. Ltd. “We are looking at two dominant themes: infrastructure, which includes ports, power and roads, and domestic consumption, like media (and) retail,” he told reporters. Over a five-year period beginning in September 2005, Blackstone has invested 1.25 billion dollars in India, of which 360 million dollars was earmarked for the power sector, Gupta said. It plans to invest as much as three billion dollars there in the next five years […]
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