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Siesta Logistics Corporation Limited, a leading Integrated Logistics Service Provider and a part of the diversified Siesta Group, today announced that it had raised $10 million in private equity from Ashmore Alchemy India, a joint venture between Alchemy Partners LLP and Ashmore Investments (UK). Siesta Logistics began its operation in 2007 and is India’s only truly Integrated Logistics Service Provider with the capability to serve clients with a portfolio of customized solutions in the areas of transportation, freight forwarding, port and cargo services, Odd Dimension Cargo, Freight Forwarding, Customer House Agent, Warehouse Management Services, STPI and related services, 4PL and Consulting services. A professional, knowledge-rich enterprise, SLCL delivers customised solutions to create value and offer expertise-based consultancy services across the supply chain requirements of its customers. […]
Nitin Fire Protection Industries Ltd has announced their intention of Joint Venture agreement for Cylinder manufacturing business with Worthington Industries Inc. Worthington Industries Inc. will acquire majority shares in Nitin Cylinders Ltd. (NCL). The deal valued at approx. USD 21 million. Mr. Kunal Shah will be the CEO of the Joint Venture. NCL is a 100% subsidiary of Nitin Fire Protection Industries Ltd. (NFPIL) and is a part of the Nitin Group of Companies and is one of the largest manufacturer of CNG Cylinders in India in terms of capacity NCL manufactures high pressure seamless steel cylinders ranging from 232 to 406 mm dia, among the broadest range in Asia with applications in compressed natural gas (CNG) storage in motor vehicles and compressed industrial gas. […]
In a deal that strengthens its political underbelly, Sistema Shyam TeleServices Ltd. (SSTL), which operates under the name MTS India, is to have the Russian government as one its main investors. MTS India's majority stakeholder, Russian conglomerate Sistema JSFC, announced that, following a new share issue, the Russian government paid about US$600 million for approximately 17 percent of the Indian CDMA mobile operator's capital, leaving Sistema holding a 57 percent stake in MTS India. Jointly, Sistema and the Russian government hold a near 74 percent stake in MTS India, just under the threshold allowed by Indian law. MTS India, which holds licenses for all of India's 22 telecom circles (service areas), plans to use the proceeds from the stake sale to further invest in its CDMA EV-DO network and launch operations in additional circles. The operator has also just signed a $200 million loan deal with Russia's Gazprombank to help fund its expansion plans. […]
Property developers are knocking on the doors of portfolio managers, private equity (PE) funds, non-banking finance companies (NBFCs) and other investors as commercial banks, mostly public sector ones, are tightening lending to real estate firms in the aftermath of the bribe-for-loan scam. “The number of enquiries from developers has increased in the last couple of months and we expect a good deal flow down the line,’’ says Pradeep Khanna, senior fund manager, portfolio management services (PMS) at ICICI Prudential Asset Management Co. The firm did around half-a-dozen deals with real estate companies last year. A fund manager with a large PMS firm said the enquiries from developers had increased by 15-20 per cent since October. Portfolio managers such as ICICI Prudential, India Infoline PMS, HDFC PMS and others have invested over Rs 1,200 crore in realty projects since the third quarter of the previous financial year […]
LifeCell International, a Chennai-based cord blood banking and stem cell research company, plans to raise around Rs 46 crore through private equity firms. The proposed fund-raising is to support the company's proposed entry into biosimilars business and for its brand-building exercise. Mayur Abhaya, executive director, LifeCell International Pvt Ltd, said that the company was planning to invest into research for development of biosimilars for dendritic cell vaccine, a therapeutic vaccine to treat prostate cancer and a mesenchymal stem cells therapy for Type I diabetes. “We have been into stem cell research and banking industry for all these years, but the brand was not exposed. Of the proposed investment, 60 per cent will be spent on brand building, while remaining 40 per cent will be for biosimilar research,” he said. […]
Three big funds launched two-three years ago post positive returns. In the three years since three large private equity (PE) funds were launched to invest exclusively in Indian infrastructure, fund managers say they’re fairly satisfied with the returns. A $1.2-billion India infrastructure fund was raised by UK-based 3i in 2007. The same year, a joint venture between India’a largest bank and an Australian major started SBI Macquarie Infrastructure Fund (MSIF), which raised $1.03 billion. IDFC Project Equity raised a $927-million Indian Infrastructure Fund (IIF) in 2008. Some investments are showing signs of good returns. 3i invested $227 million (Rs 1,000 crore) in Adani Power in 2007, a year which came to known as the boom time after slowdown hit the economy next year. […]
Fortis Global Healthcare Holdings will acquire a 30 per cent stake in Australia’s leading dental clinic chain Dental Corporation for about Rs 450 crore. This is the second acquisition for the company, a family venture of Malvinder Mohan Singh and Shivinder Mohan Singh, the billionaire brothers who own majority stake in India’s second-largest private healthcare provider, Fortis Healthcare Ltd. The company, set up recently to drive the overseas healthcare expansion plans of the Fortis group, completed the acquisition of Hong Kong-based Quality Healthcare in November. Malvinder Mohan Singh said the acquisition was in tune with his objective to build a global integrated healthcare platform. Fortis will have two representatives on Dental Corporation’s board and will be part of its expansion plans in Australia and New Zealand. […]
An emerging niche within the Indian retail sector has caught the fancy of venture capitalists (VCs). And these are 'by invitation only' shopping websites. The 'by invitation only' shopping portals, a popular concept in the US, are now slowly taking roots in India. In this format, designer and premium brands in products like clothes, watches, shoes and accessories are sold at discounted rates in the range of 40-50%. Three out of just about 6-7 companies that play in the space have received private investments in the past two months. The latest deal was struck earlier this month when private shopping site for luxury brands and designer apparel Fashionandyou-. com raised $8 million from Sequoia Capital India. Last month, Helion Ventures and Accel Partners invested $2.8 million in Exclusively.in, and Germany's multimedia group Axel Springer AG acquired 19.1% stake in BagIt-Today .com. And these are only the deals which have been announced. Some say there are other VCs which have made small investments that are yet to be announced. […]
Debt-ridden apparel retail chain, Koutons Retail today said it is in talks with private equity players and lenders to raise money to overcome cash crunch due to declining sales. “Koutons Retail has been facing a cash crunch on account of declining sales and the overall scenario of the retail sector. This prompted the company to explore the need to recast its debt as well as to mull multiple options to raise money,” Koutons Retail Chairman D P S Kohli said in a statement. He said the company is in talks with its lenders for debt recast and some private equity players for its fund raising plans. “The company is confident that it will successfully complete this period of consolidation and continue to serve millions of customers and many shareholders,” Kohli added without disclosing further details. […]
BF Utilities Ltd. is in advanced talks with Goldman Sachs /quotes/comstock/13*!gs/quotes/nls/gs to sell it a 10%-15% stake in phase II of the 164-kilometer Bangalore-Mysore expressway for around INR5 billion ($109.1 million), the Business Standard reported on its website Friday, citing people aware of the development. A spokesperson for Goldman Sachs declined to comment, while Bhalchandra Mitkari, vice president of finance at the Indian company, didn't reply to questions, the website said. […]
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