|
|
Rakesh Jhunjhunwala, the billionaire investor known for identifying good companies at start-up stages, has taken up a 30 per cent plus stake in Pune-based Krayon Pictures, co-founded by Kishor Patil, who is also CEO and managing director of KPIT Cummins Infosystems. Krayon Pictures aims at emerging as India’s answer to Walt Disney’s Pixar Animation studios. Jhunjhunwala, termed as India’s Warren Buffet by the Forbes magazine, was also an early investor in KPIT Cummins Infosystems, a Pune-based niche IT firm that is a specialist in the auto sector. “Myself, family and associates hold around 50 per cent of the company while a significant portion is held by other co-founders and is reserved for stock options too. KPIT was Jhunjhunwala’s first unlisted investment and one, which he kept for 10 years. We have had a close interaction since and he, too, has acquired a stake in this venture,” Patil told Financial Chronicle. When contacted, Jhunjhunwala said he was busy and would speak later. […]
Mumbai-based private equity (PE) firm Tano India Advisors Pvt. Ltd, which is raising a $150 million (around Rs.680 crore) fund, has garnered an initial tranche of $54 million, with California-based Charles E. Johnson and family as the anchor investor, Tano’s managing director Carlton Pereira said. Johnson is a former chief executive of investment firm Franklin Templeton Worldwide. Apart from the Johnson family, Hong Kong-based Asia Alternatives Management Llc also invested in the Tano fund. Asia Alternatives is currently managing two funds—the $515 million Asia Alternatives Capital Partners Lp and $950 million Asia Alternatives Capital Partners II, Lp. “We did the first close by November-end and it took roughly eight months,” said Pereira, who started the fund in 2007 along with his partner Hetal Gandhi. Tano India is aiming for its second close by March 2011. […]
The Reserve Bank of India’s permission to banks for roping in for-profit companies as business correspondents (BCs) for financial inclusion has generated interest among private equity (PE) investors. Society for Educational Welfare & Economic Development (SEED), a New Delhi-based organisation, has formed a separate company to manage operations as BCs. It is in discussion with PE players to raise fresh capital. Till now, SEED has been worked on lines of credit from banks. It needs equity venture funding to scale up business to meet its financial inclusion target for March 2012. “Our initial plan is to raise about Rs 50 crore ($ 10 million) and talks with private equity players are at an advanced stage. Equity infusion plans will be firmed up next month”, Anirban Roy, managing director of SEED, told Business Standard. […]
Rallis India, a crop protection subsidiary of Tata Chemicals, on Thursday said it will acquire Bangalore-based seeds research company Metahelix Life Sciences for about Rs 200 crore. In the initial phase of the transaction, Rallis acquired a majority stake of 53.5% in Metahelix in an all-cash deal of Rs 99.5 crore, funded largely through internal accruals, the company said in a statement. Rallis, which has interests in crop protection and fertilisers, said it will further infuse Rs 25 crore to raise its stake to 59.02% in the near future and will aim to make Metahelix a wholly-owned subsidiary by 2015. “The deal works out to twice the projected revenues of next year. Currently, Metahelix's revenue is pegged at around Rs 65 crore and the entity is expected to breakeven next fiscal year,” managing director V Shankar told reporters. Metahelix has been growing at a CAGR of about 40%, he added. With this, the Tata group company which has a small presence in the seed segment, plans a full-fledged entry and is targeting a commutative sales of Rs 1,000 crore over five years. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|