February 2011
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Milestone to invest $450 mln in 2011

Indian private equity firm Milestone Capital Advisors plans to invest $450 million this year, with a focus on the education, healthcare and real estate industries, its managing director said in an interview. The firm, which is planning an initial public offering this year, has about $900 million of assets under management. Private equity investment in India nearly doubled last year to $7.97 billion, from a year earlier, according to Venture Intelligence, a research firm. Companies positioned to benefit from rising spending power in the world's second-most populous country, with an economy growing at about 8.5 percent a year, have been especially sought after by private equity investors. […]

Faering Capital raises Rs 830 cr via PE fund

Faering Capital, the Aditya Parekh-promoted private equity (PE) firm, today said it has raised Rs 830 crore from from its first fund. “Faering Capital is pleased to announce the first closing of its maiden private equity fund – Faering Capital India Evolving Fund in December, 2010 with a corpus of Rs 830 crore,” the company said in a statement. Named after a boat used by the Vikings as they roamed the seas more than 1,000 years ago, Faering is promoted by HDFC Chairman Deepak Parekh's son and his friend and co-founder Sameer Shroff. The fund will focus on consumption-related investment opportunities and will expect investment in mid-cap firms, with an average deal size of Rs 30-80 crore in each transaction. Faering believes “there are significant structural positives in the Indian economy today — largely driven by favorable demographics, increasing urbanisation, a growing middle class and a young professional workforce.” […]

Internet ad startups draw VC funding

Venture capital (VC) firm Ojas Venture Partners has just invested in Bangalore-based online advertising solutions company Vizury Interactive. Chetan Kulkarni, CEO of Vizury Interactive, confirmed the development but declined to give details on the size of the deal and the fund deployment plans, for “competitive reasons”. Advertisers are increasingly relying on web analytics tools of online marketing companies to judge the relevance of a website publisher's keywords, traffic, content etc. Publishers rely on them for selling their inventory to the appropriate advertiser and for understanding the profile of website visitors. Several online marketing companies also act as networks or intermediaries between advertisers and publisher websites to match demand and supply for online ads. […]

HDFC and Gaja Capital Partners buys stake in Indus World Schools

The Economic Times of India reported that HDFC Bank and Gaja Capital Partners bought a stake in Indus World Schools (IWS), a unit of Career Launcher India Limited, for around Rs.40-50 crore. According to the report, Indus World plans to use the raised funds for its expansion strategy, as it plans to increase its current 9-school chain to 75-school chain over the next five years. The first Indus World School was opened in 2005 in Hyderabad and currently, IWS is a 9-school chain spread across cities like Indore, Hyderabad, Raipur, Bhiwani, Mandi, Ahmednagar, Gurgaon, Jalgaon, and Aurangabad. IWS also runs schools for the underprivileged in rural Andhra Pradesh and through partnerships with the government in Punjab and Gujarat. On the other hand, Career Launcher was founded in 1995 and provides test preparatory and vocational training services to over 60,000 students across 130 locations in India and overseas locations such as West Asia and the US. Last year, Career Launcher acquired a minority stake in Chennai based 361 Degree Minds Pvt Ltd for $1 million. Private Equity firm Gaja Capital Partners invested $8.20 million in Career Launcher in 2007. Its other investment companies are Haldia Coke & Chemicals, TeamLease Staffing Solutions, Bonanza Portfolio and Educomp Schools. This is the first such investment by HDFC. […]

Bain Capital closes in on Hero Honda Stake

US private equity firm Bain Capital and Government of Singapore Investment Corporation, the sovereign wealth fund, are close to an agreement to buy a minority stake in listed Indian motorcycle maker Hero Honda from the controlling Munjal family, according to people familiar with the matter. The expected transaction, for which an exact price has not been disclosed, could be as much as $1.75bn. It follows the sale at the end of last year by Japan’s Honda Motor of its 26 per cent stake in the company back to the Munjal family at a sharp discount, for Rs900-Rs1,000 a share, the same people said. Shares in Hero Honda, the world’s largest motorcycle maker, have been dropping on the Bombay Stock Exchange since the start of January. They traded at Rs1,620 on Monday, giving the group a market capitalisation of about Rs320bn ($6.9bn). Part of the downward pressure has come from concerns over the impact of Honda exiting its stake, but the sale also comes as the Reserve Bank of India is raising interest rates and the stock market has stumbled. […]