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Motilal Oswal Private Equity Advisors has invested around Rs 45-crore in Godrej Buildwell, a SPV floated by Godrej Properties, and plans to invest another Rs 5-crore soon for a 49.9 per cent equity stake in the firm. Godrej Buildwell would use the fund to develop a high-end residential project at Hebbal in Bangalore. “This is our first project with Godrej Properties and we are looking at more such opportunities across the country. We also believe that the project will be one of its kind combining synergies of project development experience and market knowledge of both the firms,” Motilal Oswal PE's Director (Real Estate) Harvesp Mehta said in a release here today. The project is being developed along the 'golden corridor' of Hebbal and Devanahalli, an area slated to become the next IT hub. It has an easy access to the six-lane Golden Quadrilateral highway, which ensures excellent connectivity to the international airport and the city. […]
Sequoia Capital India said Thursday it has invested INR700 million in Celon Laboratories Ltd. to help the biopharmaceutical company set up manufacturing facilities and strengthen marketing activities. Sandeep Singhal, managing director of Sequoia Capital India, will join the board of Celon Labs, the venture capital firm said in a statement. Celon Laboratories is expected to have annual revenue of more than INR1 billion in the current fiscal year through March, it added. […]
Private equity firm, Zephyr Management has invested Rs 45 crore in Trimax IT Infrastructure and Services through its Indian arm Zephyr Peacock India Funds, for an undisclosed minority stake. “Over the next six months, we plan to use this investment to strengthen our team by adding 1,000 more personnel, thus taking the total count of employees to 3,000, and to expand operations” said Surya Prakash Madrecha, Chairman and Managing Director, Trimax. Trimax claimed it grew 61 percent in sales during FY2009-10 and its profits increased 84 percent. “We expect Trimax to grow faster than 40 percent over the next two years. More importantly, the earnings will grow faster than revenues because margins are getting better. Its EBIDTA is increasing by 50 percent,” said Mukul Gulati, Managing Director, Zephyr. […]
Tata Motors has acquired 80% stake in Trilix Srl., Turin (Italy), a design and engineering company, for a consideration of €1.85 million. The remaining 20% stake is equally held by its promoters, Mr. Bryn Jones, Mr. Federico Muzio and Mr. Justyn Norek. The acquisition is in line with the company’s objective to enhance its styling/design capabilities to global standards. Trilix offers design and engineering services in the automotive sector, specifically styling, architecture, packaging, surfacing, macro and micro feasibility, detailed engineering development. […]
Private equity (PE) firms invested about $2,047 million across 88 deals during the quarter ended September 2010, according to a study by Venture Intelligence, a Chennai-based research firm focused on private equity and M&A transaction activity in India. This takes the total PE investments in 2010 to $6,566 million across 231 deals, more than twice the $2,502 million invested (179 deals) during the same period in 2009. These numbers do not include PE investments in real estate. The amount invested during the third quarter of 2010 was little over twice that during the same period last year, when around $976 million was invested across 65 deals, but lower than the $2,364 million across 71 deals in the immediate previous quarter. “For the first time since the first quarter of 2009, the amount invested by PE firms has dipped when compared to the immediate previous quarter,” said Arun Natarajan, managing director and chief executive officer of Venture Intelligence. […]
KKR signs 2 debt deals, while ICICI Ventures’ mezzanine funds invest in 3 deals. Private equity (PE) firms operating in India are putting fingers in the debt pie for the first time. Global funds, with mandates for both equity and debt, have started extending debt to Indian companies. The latest to do so is Kohlberg Kravis Roberts & Company (KKR) private equity. The US-based PE firm has started investing in debt from its special situations fund and is lending from its global non-bank financing arm (NBFC). ICICI Venture Fund and SBI Macquarie are also using mezzanine funds for extending corporate debt. The advantage is that PE funds can follow this up with an equity funding. By then, they can raise the company’s valuation and build a better relationship with the promoters. […]
U.K. telecommunications company BT Group PLC has restarted discussions to sell its 30.83% stake in Indian software company Tech Mahindra Ltd., the Economic Times newspaper reported Tuesday, citing two people familiar with the talks. The British company has attracted interest from private equity firms Providence Equity Partners, Apax Partners and Goldman Sachs Private Equity Group, the report cited the people as saying. A potential deal for BT's stake in Tech Mahindra would also involve the telecom company's stake in Satyam Computer Services Ltd., the report said, adding that BT was waiting for a clearer picture on the fraud-hit company's financials before proceeding with the stake sale process. […]
Larsen & Turbo Ltd is mulling a purchase of a 14 per cent stake in L&T Infrastructure Development Projects. The stake will be acquired from IDFC Private Equity and JPMorgan Chase for an estimated Rs 740 crore. That would subsequently transform L&T Infrastructure Development Projects into a wholly owned subsidiary of Larsen & Turbo Ltd. The investment values L&T IDPL at about Rs 5,300 crore. Back in April, IDFC Private Equity and JPMorgan Chase bought a 21.6 per cent shareholding in L&T Infrastructure for an estimated Rs 550 crore. Back then, the deal had pegged the value of L&T IDPL at about Rs 2,448 crore. In the 2006 stake acquisition, JPMorgan Chase undertook the investment via its subsidiary, Silver Pak Investments, based in Mauritius; while IDFC Private Equity purchased its stake via its infrastructure fund India Development Fund. […]
Shriram Properties, the real estate arm of Shriram Group, plans to raise $100 million (Rs 452 crore) this year from private equity (PE) investors as it seeks to deepen its penetration in Southern India, senior company officials told Business Standard. The company, which was planning an initial public offering (IPO) in 2010, has deferred its plans for a share sale for at least the next 12 months, said Chairman Arun Duggal. The developer is raising this money as part of its plans to invest around Rs 3,000 crore in various residential and commercial projects over the next three years. Shriram Properties currently has 9 million square feet under construction and presence in Bangalore, Chennai, Vishakhapatnam, Kolkata and Coimbatore. “We will deploy the money in new projects,” said Managing Director M Murali. “We want to expand our presence in Southern India.” […]
Mastercard on Thursday said it has acquired 12.5 per cent stake in Pune-based third-party paymet services provider ElectraCard Services (ECS). However, financial terms of the transaction were not disclosed. “The investment in ECS bolsters Mastercard’s overarching global processing strategy by further extending Mastercard’s product offerings and enhancing services across the full spectrum of the processing value chain,” the company said in a statement. Mastercard expects to increase global revenues by 13-14 per cent each year for the next few years, higher than the 9-10 per cent growth forecast for the payments industry, said Ajay Banga, president and CEO, Mastercard Worldwide. “India is one of our fastest growing markets although it is not the fastest,” said Banga, during a press conference in Mumbai. “Europe is another region where we see good potential for growth.” […]
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