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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. […]
Om Pizza and Eats Private Limited, promoted by Bahrain-based Jawad Business Group (JBG) has received a fund of Rs 50 crore from the Chennai based TVS Shriram Growth Fund, confirms a company official. The company holds local franchise rights for multiple international brands like Papa John’s Pizza, Chill’s Grill & Bar and the Great Kebab Factory. Om Pizza is looking at utilising this fund for expansion and planning to tap tier II and III cities for the launch of 200 plus outlets over the next four years. Presently, Om Pizza is operating through 28 restaurants across various cities of the nation. […]
Medical diagnostics company Thyrocare Technologies has sold approximately 30% stake to private equity company Cx Partners for Rs 188 crore, A Velumani , founder and chief executive of the company told ET. The additional funds will enable the company to expand into radiology diagnostics like CT Scans and magnetic resonance imaging, or MRIs, he said. These equipments require substantial capital investment unlike clinical chemistry like blood analysis. Dr Velumani said investment will start with Rs 80 crore being spent on a new centre in Navi Mumbai, at the outskirts of Mumbai. The company already has its largest centre in Navi Mumbai where all samples collected at its 570 franchises, around India, are tested and resent. As part of the equity sale, Ajay Relan, founder of Cx Partners and Vivek Chhachhi, partner at the private equity firm will become board members of Thyrocare. […]
Welspun Group's privately held company Welspun Infra Projects will acquire 35% stake in Leighton Contractors (India) for Rs 470 crore to pursue infrastructure development projects in India and neighbouring countries. “Leighton Contractors has the technical eligibility and with this arrangement we will have opportunity for participation in infrastructure development projects,” a Welspun Group official told ET. The transaction is subject to customary statutory, regulatory and other corporate approvals which may be completed in 90 days, Welspun said in a statement. Leighton Contractors is a part of Malaysia-headquartered civil engineering and infrastructure Leighton Holdings. […]
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. […]
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. […]
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. […]
The long-speculated parting of ways between the Indian Hero group and Japanese Honda Motor Co. was made official this week, though key financial details of the deal remained elusive for investors. The initial announcement did, however have a few positive implications for them. One, it clarified that it was the Indian promoters, and not a clutch of PE firms, that were to buy out Honda's 26 per cent equity stake in the bike maker. This means that investors need not worry about a “floating” population of institutional investors picking up sizeable stakes in their company and threatening to offload it from time to time! Two, the announcement that royalty would be on current lines, or even lower, allays market fears that the Indian company would be forced to shell out out-sized royalty payments over the next few years. Besides, Hero can use Honda technology and brands until 2014. […]
h bank Natixis will buy 25 percent stake in the asset management arm of India's Infrastructure Development Finance Company, they said in a joint statement on Friday. Financial details of the deal were not disclosed. IDFC said the Natixis tie-up would give its asset management arm the opportunity to boost international distribution and gain access to overseas investors who were looking to invest in the Indian equity markets. […]
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