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Led by big-ticket investments from infrastructure and manufacturing funds, private equity (PE) firms' investments in the country touched an impressive USD 3.3 billion in January-March, 2011. PE investments in the January-March quarter of calender year 2011 were about 57 per cent higher than the USD 2.1 billion worth of PE investments registered in the year-ago period and more than double the USD 1.5 billion PE investments in October-December 2010, according to data provider Venture Intelligence. […]
Real estate company Parsvnath Developers is looking at raising up to Rs 200 crore by selling stakes in two group housing projects to private equity firms. According to sources, the company is in talks with three-four private equity players to raise funds for its two group housing projects in north India and may seal the deal next month. The funds would be used to meet the construction cost of these two projects, they added. The company could not be contacted. […]
It is not just the mergers and acquisitions (M&As) followed by the Daiichi-Ranbaxy or the Abbott-Piramal deal that are seeing an uptake in the pharmaceutical industry. Fat private equity (PE) and venture capital (VC) firms are also betting big on small and midsized pharmaceutical companies to put their bucks on. The average PE deal value which was $6 million in 2009, today stands at almost $140 million, according to VCCEdge. Even the deal volume has increased from 2 to 7. The most prominent PE investments which happened in 2010 include New Silk Route Partners $55 million investment in Nectar Life Sciences and a series of investments in Arch Pharmalabs by Emerging India Focus Funds and India Infoline Venture Capital Fund. Even this year had a kick-start with Arum Investments backing Plethico Pharmaceuticals by $17.41 million. […]
Announcing a major development, Economic Affairs Secretary Mr. R.Gopalan said that private equity firms, which were unregulated till now, will be brought under SEBI regulations. Mr. Gopalan said that the market regulator had already started work on regulating private equity players and that the guidelines would be issued very soon. The regulation of private equity firms comes at a time when there have been growing concerns over private pools of capital such as private equity. The Reserve Bank of India too, had voiced its concerns over the unregulated nature of the private equity firms in the past. Providing further insight into the regulation procedure, Mr. Gopalan said that the regulation would be on the same lines as that of venture capital funds. Right now, the venture capital regulations need compulsory registration with SEBI. […]
Private lender IndusInd Bank will acquire the credit card business of Deutsche Bank in India. The German bank today announced that it has entered into an agreement to transfer its local credit card business to IndusInd Bank. The deal, involving over 15,000 credit cards and a total loan portfolio of about Rs200 crore, will mark IndusInd Bank's entry into the credit card business. The deal is expected to be completed in the next couple of weeks, reports quoting IndusInd sources said. IndusInd Bank, which had already announced plans to enter the credit card business, last year, roped in Anil Ramachandran from Deutsche Bank to set up the credit card business. The acquisition will also make IndusInd Bank a full service bank and the private lender said it is planning to expand into a full range of customer-centric products. […]
Tata Chemicals Limited has signed agreement to acquire 25.10% stake for $290 million as a strategic investor in stream 1 of a greenfield port-based ammonia-urea fertilizer manufacturing complex in the Republic of Gabon, Africa. Other shareholders in the project are Olam International Limited (Olam) with 62.90% and Republic of Gabon (ROG) with 12% stake. Olam is a Singapore based company listed on SGX-ST, a leading global integrated supply chain manager and processor of agricultural products and food ingredients with a direct presence in 65 countries. The project comprises of setting up of 1.3 million TPA of urea (Stream 1) with an option to expand into another stream of 1.3 million TPA of Urea (Stream 2). While the execution of Stream 1 has already commenced, the Stream 2 option will be evaluated and decision to implement will be taken in about 24 months. […]
Debt-laden apparel retailer Koutons Retail India Ltd has said non-banking financial services company IFCI Ltd raised its stake in the company by invoking the shares pledged by the company's founders. IFCI's stake in Koutons Retail has gone up to 10.24% from 5.89% earlier, the company said in a notice sent to the stock exchanges. Koutons Retail's founders and founder groups, who own 32% of the company, had pledged 98% of their shareholding to lenders as of Dec. 31, 2010, data from the stock exchanges showed. […]
Private equity firm Matrix Partners India today said it has invested Rs 50-crore as the sole investor in the first institutional round of funding of Maharana Infrastructure and Professional Services Private (MIPS). With the completion of this financing, Matrix India, Director, Amit Kapoor will join the board of MIPS, a press release issued here said. MIPS is one of the largest service providers to higher education institutes in North India. Currently, the group is running 20 courses with 10 campuses with more than 10,000 students. “MIPS has an innovative business model to address the needs of the country's fast growing education sector. […]
Debt-laden Kingfisher Airlines said on Thursday private lender ICICI Bank has acquired 28.26 million shares, or 5.68 percent stake, in the carrier on the conversion of compulsorily convertible preference shares. On March 31, the airline had issued 116.3 million shares, or 23.4 percent equity, to a consortium of 13 banks led by State Bank of India , to restructure part of its debt. Kingfisher also allotted shares to founder entities United Breweries (Holdings) and Kingfisher Finvest India. The airline has restructured its debt by converting almost 12 billion rupees of loans into equity and its current debt stands at about 60 billion rupees, Ravi Nedungadi, chief financial officer of UB Group, which controls Kingfisher, had told Reuters earlier this week. […]
Private equity (PE) firms’ investments in the country touched a whopping US$3.3 billion in January-March, 2011, with infrastructure and manufacturing companies garnering most interest. Private equity investments in January-March quarter of 2011 calendar year were about 57 per cent higher than US$2.1 billion worth of PE investment registered in the year ago period and more than double October-December’s US$1.5 billion, according to Venture Intelligence. […]
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