December 2010
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PEs sharpen focus on green energy

Firms double funding this year, as govt, multilateral agencies push sector. Last month, the Muthoot Pappachan Group (MPG), a leading non-banking finance company, decided to invest heavily in wind energy, to create 50 Mw generation capacity. This is part of its plan to diversify into power, automation and hospitality sectors, after a century of being in the banking business in Kerala. “A lot of PE investors are interested in renewable energy and we are exploring PE investments for our wind energy initiatives,” said Thomas John Muthoot, chairman and managing director. The renewable energy (RE) sector in India saw 135 per cent more PE and venture capital (VC) investments in 2010. Data from VCCedge show five PE/VC investments worth $377 million (Rs 1,715 crore), including a mega one of $290 mn by Blackstone in Moser Baer, the solar power company. As against this, 2009 saw six deals in the sector, worth $160 mn. […]

December 21st, 2010

ASK to raise Rs 1k-cr property fund

ASK Property Investment Advisors, part of the Mumbai-based ASK group, will raise Rs 1,000 crore from high networth individuals and family trusts to invest in residential properties. The ASK Real Estate Special Opportunities Fund planned to raise Rs 500 crore by February 2011 and the remaining in two-three months after that, said Sunil Rohokale, executive director, ASK Investment Advisors. “This is the right time to identify and invest in projects of right developers,” says Rohokale, who was earlier with ICICI Home Finance as managing director. Fund managers such as ASK, ICICI Venture and others are raising money from domestic investors at a time when commercial banks, especially public sector ones, are tightening lending to property developers after RBI’s new norms to curb speculation in the sector and the bribe-for-loan scam. […]

December 21st, 2010

Bharat Vikas Group set to rope in a global PE investor

Promoters, Kotak PE to cut stake in a deal valued at Rs 800 cr Bharat Vikas Group, a Rs 300 crore facilities management company, is attracting the eyes of global private equity investors in a deal being valued at Rs 800 crore. The promoters — led by Hanmant R Gaikwad & Umesh Mane, along with Kotak Private Equity are expected to reduce their stake in this company which can arguably be termed as a rags to riches journey. Bharat Vikas Group (BVG) provides services such as mechanised housekeeping, landscaping & gardening, and security services to private and government institutions with the help of a 16,000-strong ready-to-move and trained and pan-India workforce. BVG has around 300 clients in India including Tata Motors, M&M, Wipro, Accenture, Whirlpool, ITC, HUL, Indian Railways, ONGC, Indian Navy among other. Tata Motors is the big-gest client for BVG while the company broke into the big league when it bagged the contract to maintain the library at Parliament House. BVG’s other notable clients include residence and office of the Prime Minister and Rashtrapati Bhavan. […]

December 21st, 2010