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GVK Power & Infrastructure is planning to raise US$280 mn (Rs 13bn) from private equity majors 3i Group plc and Actis, according to a report. 3i Group plc and Actis are investing US $140 mn into the company, says reprot. The report stated that company is expanding its power business and has lined up a slew of power projects and the equity would fund this expansion. […] 3i Group plc and Actis are investing US $140 mn into the company GVK Power & Infrastructure is planning to raise US$280 mn (Rs 13bn) from private equity majors 3i Group plc and Actis, according to a report. 3i Group plc and Actis are investing US $140 mn into the company, says reprot. The report stated that company is expanding its power business and has lined up a slew of power projects and the equity would fund this expansion. Rate This Article Average rating : 5.0 Thank you for the rating. You have already rated ! Kalpathi Investments has picked up 45% stake for Rs 5.1 crore in the Chennai-based Primex healthcare, which has plans to set up over 50 premium quality diagnostic facilities at affordable cost across Tamil Nadu over the next 12 months. It will start setting up scans and lab facilities in six locations in Chennai, before expanding into other cities and towns in the State. The Indian diagnostic services industry is projected to grow at a CAGR of over 20% in the next three years. Targeted at all income groups starting from the lower-middle to the upper income group and corporates, Primex plans to offer high-end 1.5T MRI, multi-slice CT, high frequency digital X- ray, 3D ultrasound systems, computerised ECG, treadmill, PFT and EEG. […] This is a story of one port, many funds and negative returns after a decade’s wait—a long-term infrastructure story gone wrong. A private equity (PE) fund managed by AMP Capital Investors of Australia is set to make a substantial loss as it sells a part of its investment in Gujarat Pipavav Port Ltd in the latter’s initial public offering (IPO). It is not alone. There are quite a few other funds that are not happy with their investment in the port operator. In a rare loss-making exit through an IPO in the infrastructure sector, the 11-year-old India Infrastructure Fund Llc will see a 27% erosion in the value of its investment if the issue, which opens on Monday, gets priced at the upper end of the `42-48 price band. At this price, India Infrastructure Fund’s loss will be `18.45-24.45 per share. India Infrastructure Fund was launched in 1999 under a joint management agreement between AMP Capital and the erstwhile Unit Trust of India, or UTI. In 2001, the fund bought 5.9 million shares in Gujarat Pipavav Port for `47 crore at `80 apiece. […] U.S. billionaire investor George Soros has contributed to the Stock Exchange Bombay. Soros Quantum hedge fund had acquired a 4% share of Asia’s oldest exchange, Dubai Financial, said a spokesman for the Bombay Stock Exchange on Friday. For more details, he did not name . One person familiar with the matter that put the investor for the participation of about 380 INR ( the equivalent of $ 8.2 ) per share or a total of about USD 34 million on the table. This is the exchange rate with a total of around 850 million USD. Representatives of Quantum and Dubai Financial were not immediately be reached for comment. At the Bombay Stock Exchange was founded in 1875 more than 4,900 companies are listed . As of 18th June was the public shareholding in the stock market at 56.37 %, the remaining shares were held by exchange members and their associates , as is evident from data on the stock exchange website. […] Elephant Capital, a private equity firm led by Dabur group promoter Gaurav Baurman, today said it has acquired a minority stake in clinical research firm ClinTec International for 8 million pounds (Rs 58 crore). “Through this investment, Elephant has entered the attractive clinical research base, where ClinTec operates as a global provider of outsourcing solutions addressing the drug development lifecycle,” the company said in a statement. It, however, did not disclose the exact amount of stake picked up by the private equity firm. Burman, who is the Managing Partner of Elephant Capital, and James Hauselein a non-executive director of the firm, have also made personal co-investments of 150,000 pounds (Rs 1.09 crore) and 200,000 pounds (Rs 1.45 crore) respectively in the transaction, it added. […] 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. […] |