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Opto Circuits (India) Ltd has informed BSE that the company has successfully acquired 76 per cent of outstanding common stock of Cardmc Science Corporation US (Nasdaq:CSCX). The company plans to exercise its top-up option under the terms of the merger agreement. The merger is expected to occur in the next few days. Following the merger, Cardiac Science will become a wholly-owned subsidiary of Opto Circuits (India) Ltd. […] The owners of Mumbai-based fashion house Kimaya Studios are said to be involved in preliminary talks with a host of private equity (PE) firms to divest around 20 per cent stake in the company for close to Rs.100 crore. The funds raised will be channelised towards expansion plans and ramp up the number of stores in the country. “India has the potential to become the next fashion hub of the world. Fashion has moved beyond metros and large cities, and become a pan-India language. Therefore, we are looking to expand our operation in a significant way,” said Pradeep Hirani, who along with wife Neha Hirani, set up Kimaya in 2002. He, however, refused to divulge details of his fund-raising plan. Kimaya plans to open at least 50 multi-brand retail stores in the country over the next three years from the existing 16 stores. Some of these stores will come up in tier-I and tier-II cities such as Chandigarh, Ludhiana, Surat and Ahmedabad. Besides, it is also looking to foray into the US and European markets after setting up shop in Dubai. […] This enables firms to raise funds without diluting any stake at the parent level. Private equity (PE) funds are gearing up for a new set of opportunities in the road sector. Infrastructure companies are looking to raise equity by selling minor stakes at the project level, an opportunity PE players are chasing aggressively. Investment bankers which are trying to strike deals in the segment say a number of companies with highway projects are looking for investors. The projects involved are at various stages of development. Some assets are operational too, they say. “There’s a reasonable history in the sector and there are many assets in the project life cycle where development and construction risks are finished,” said Arvind Mahajan, executive director, KPMG. […] Baring Private Equity Partners (BPEP), the global PE major, will begin investing in Indian real estate in the next six months, according to a top executive of the fund. BPEP India was looking at investing from its $650 million Baring India Private Equity Fund III, said Varun Batra, partner, BPEP India. BPEP India invested in information technology, healthcare and financial services sectors from its first two funds. The companies included business process outsourcing firm Mphasis and consumer goods company Jyothy Laboratories. “FDI in real estate has been allowed for the past five years and the market has been through one learning cycle” said Batra, who was with Citigroup before joining Baring. BPEP has been investing in India since 1998. The foray comes at a time consolidation is taking place in the real estate PE space. […] Apollo Hospitals Enterprise is looking to offload a 49 per cent stake in its pharmacy chain unit and is also exploring the possibility of listing the unit in six months, a top official said on Thursday. The hospital chain is planning to raise `550 crore via equity and debt for expansion by March, Ms Suneeta Reddy, executive director-finance, told reporters. She also said that the pha-rmacy chain has become profitable and hence will be hived off as a separate business entity over a period of time. Apollo Pharmacy is India’s largest branded pharmacy network, with over 740 plus outlets in key locations. The company is also planning to invest `1,100 crore to add another 1800 beds by the end of 2013. She said that the company plans to raise the capital through debt, equity and internal accruals. […] Standard Chartered Private Equity (SCPE) is in talks to invest Rs 300 crore in Hyderabadbased infrastructure solutions provider Indu Projects, picking up around 10%, said sources. The deal may involve SCPE acquiring the stake of some existing founder investors as well as infusing fresh capital into the company, they added. A substantial part of transaction value would go towards taking out some of the existing investors. When contacted, Indu Projects CFO Mahender Basani refused to comment saying that nothing had been finalized yet. “We won't be able to comment on anything at this point of time. There is nothing that is final till it is final ,” he added […] al Services firm Religare Enterprises on Friday said that its arm has acquired 55 per cent stake in US-based private equity and real estate fund-of-funds asset manager Landmark Partners for $172 million (about Rs 770 crore). Landmark has total assets under management worth $8.3 billion and the deal values the company at 3.8% of its total assets. “The parties have signed a definitive agreement for Religare to acquire a 55% stake in the business of Landmark Partners for a consideration of up to $172 million,” said the company in a statement. With the acquisitions of Northgate (earlier this year) and Landmark Partners now, Religare expects to garner a total revenue of $70 million in 2010-11 and an EBIDTA of $35 million. […] Home appliances maker Maharaja Whiteline is in preliminary talks with a host of foreign investors to sell up to 20% stake to fund its expansion in the domestic market, said two persons in knowledge of the development. The Delhi-based firm is completely owned by Harish Kumar, who started it in 1976 when he was still a teenager with a bank loan of Rs 10,000, and his wife. Kumar confirmed the fundraising plans, but refused to give any details. The proposed stake sale will happen through issue of fresh shares and the funds raised will go into expanding product portfolio and market reach, besides a new manufacturing facility, two persons said on condition of anonymity. Maharaja Whiteline makes more than 60 products across 18 categories including food processors, electric kettles anKd toasters . Although the deal size could not be independently confirmed, industry insiders peg it at close to Rs 100 crore, considering most companies in the home appliances sector have market cap equal to or little more than their annual revenues . […] |