April 2011
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IDFC PE to sell its 20% in cancer care player HCG

IDFC Private Equity is exiting from its investment in Bangalore-based cancer care player HealthCare Global (HCG) Enterprises. Two other HCG investors-PremjiInvest and Milestone Religare-are buying out IDFC's 20% stake, said to be worth around $30 million (Rs 138 crore). HCG was trying to get fresh investors. General Atlantic and India Value Fund were in the fray, but that effort got stuck over valuation issues. Currently, Milestone Religare, PremjiInvest and Evolvence are the three key investors in HCG. The investors will also make some fresh investments for hospital expansion through a rights issue soon. […]

April 8th, 2011

DE Shaw close to buying 14.2% stake in NDTV

DE Shaw, a global private equity (PE) and hedge fund company, is close to acquiring a 14.2 per cent stake in New Delhi Television (NDTV) for Rs 70 crore (Rs 700 million). It was in the headlines recently for its joint venture (JV) with Reliance Industries in the non-banking finance company space. According to sources close to the development, DE Shaw will acquire the stake through Merrill Lynch Capital Markets and Nomura Capital, in a series of bulk deals at Rs 76.55 per share. These shares are held by Goldman Sachs and GS Mace Holdings. […]

April 8th, 2011

Temasek in talks to buy TPG stake in India's Shriram

Singapore state investor Temasek Holdings is in talks to buy a part of U.S. private equity firm TPG Capital's holding in Indian commercial vehicle lender Shriram Transport Finance Co in a deal valued at 25 billion rupees ($561 million), the Business Standard reported on Monday. TPG, which owns 20 percent in Shriram Transport, plans to offload a significant minority stake in the non-banking finance company and has appointed Credit Suisse to advise it on the sale, the newspaper said, citing people familiar with the development. […]

April 5th, 2011

Gravita India buys 60% stake in K M Udyog

Lead metals and products firm Gravita India today said it has acquired 60 per cent stake in Jammu-based K M Udyog, which has an installed lead manufacturing and refining capacity of 7,200 tonnes per annum. Following the announcement, the scrip of the company jumped to a new high of Rs 402.10 apiece on the Bombay Stock Exchange, up 2.69 per cent from the previous close. “The addition of K M Udyog, Jammu, is expected to improve the top and bottom line of the company by around Rs 65 crore and Rs 3 crore respectively during 2011-12,” it said in a filing to the Bombay Stock Exchange. […]

April 5th, 2011
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