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Srei Infrastructure Finance Ltd, one of the few pure-play private sector infrastructure finance companies in the country, is planning to re-enter the port sector this fiscal to grab opportunities in upgradation of existingports. It would also begin oil and gas exploration in a block that the group, as part of a consortium, had won in the Nelp VII round in 2008. “We have recently exited our investments in the port sector but this year we might invest in this sector again as lots of investment opportunities are likely to show up soon,” vice-chairman Sunil Kanoria told DNA. […]
Toll management company MEP Toll Road today said it has initiated discussions with a clutch of private equity firms to dilute its holding by 10-15% by September this year. The divestment of stake to private equity players will be followed by listing of the company in domestic bourses towards the end of current fiscal, MEP Toll Road chairman and managing director Jayant Mahiskar told PTI. “We are already in discussion with 2-3 overseas private equity players for diluting 10-15% in the company. But, we are yet to zoom in on any. However, a deal will be signed within the second quarter of current fiscal,” Mahiskar said. He, however, declined to give further details, saying, “We have signed a non-disclosure agreement and are bound by the agreement.” […]
ICICI Venture has bought a 10% stake in RJ Corp's Devyani International, which runs KFC, Pizza Hut and Costa Coffee chains in India, for about Rs 250 crore, two people familiar with the development said. Ravi Jaipuria, founder of the Rs 3,000-crore RJ Corp, confirmed the investment deal, but declined to comment on its size. “The deal was signed on Wednesday. It will support expansion of our foods business in India and in global markets,” he told ET on Wednesday. […]
Tata Capital, a unit of India's diversified Tata group, has received commitments for USD 800 million by the end of March, for its private equity funds, its chief executive said. “Despite the difficult fund raising environment, we have been able to successfully build assets of USD 800 million and are optimistic to achieve the target well before the earlier announced deadline of December 2011,” Praveen Kadle said. Last year, Tata Capital set up a private equity fund jointly with Japan's Mizuho Securities to invest in unlisted Indian companies, with a target of raising USD 1 billion by December 2011. […]
Warburg Pincus India Pvt. Ltd has bought a stake in Diligent Power Pvt. Ltd to enable the Dainik Bhaskar Group company to accelerate its plans to construct power plants, the company said in a statement. Diligent Power didn't disclose the investment amount or the stake sold in the statement on Wednesday. Diligent Power is in the process of setting up power projects with a capacity to generate 6,400 megawatts (MW). These power projects include a 1,200MW coal-based thermal power plant in Chhattisgarh and a 1,320MW thermal power plant in Madhya Pradesh. “Diligent Power has planned significant long-term initiatives to capitalize on the huge potential presented by the sector,” R.K. Gupta, chief executive of Diligent Power said in the statement. […]
Delta Corp has bought 51% stake in under construction five-star deluxe hotel, Daman Hospitality, for Rs 50 crore, the company said in a press release Friday. The company said it will further infuse Rs 40 crore to complete the project, which it terms as strategic for its pan-India presence in the gaming and hospitality industry. The five-start deluxe hotel is expected to be completed in six to eight month's time. The hotel consisting of 176 rooms will also have outdoor pools, three bars and four restaurants including spa and health clubs and a high-end shopping arcade, the release said. Delta's recently bought ship, MV Horeshoe Casino, from US-based Harrah's Corp is expected to arrive in India by end of June. […]
Foreign direct investments (FDI) last fiscal fell 28% to a four-year low, data showed on Thursday, raising concerns over stability of capital flows. This is also the first time in five years that FDI is lower than portfolio flows. A slowdown in FDI means the economy is not getting enough long-term foreign funds to invest in projects and add physical assets, such as plants and machinery. Provisional data released by the Reserve Bank of India (RBI) pegged total FDI at $27.024 billion as of end March. This included fresh equity in green-field projects, reinvested earnings as well as change in ownership of existing equity by new investors. Investments in new projects stood at $20.09 billion, the lowest that the country has received in the last four years. […]
Private equity firm TA Associates today invested $40 million (Rs 180 crore) to acquire a minority stake in city-based Tega Industries, a mining sector firm. Tega Industries, which clocked a turnover of Rs 650 crore, did not reveal how much stake it parted with but admitted it would be less than 15 per cent. The fund will be used mainly to finance acquisitions, while some money will be spent on expansion of existing plants. “TA Associates’ investment will help us drive Tega to the next level,” Mehul Mohanka, executive director of Tega Industries, said. […]
Private security company SIS Security Services will soon offload 10% stake for around R500 crore. Top contenders are global private equity (PE) and hedge fund firm DE Shaw, which is already invested in the company, and PE major JP Morgan. The deal may rank as the biggest in the private security field. When contacted, SIS Security Services COO Rituraj Sinha refused to divulge details of PE players who may be the main contenders for taking up the stake but said that the deal would be announced soon. He added, “The funds will be primarily used to acquire companies in India, Middle East and Southeast Asia.” DE Shaw & Co already has a 14% stake in the company, having bought into SIS in 2008. The funds it brought in were used to acquire security company Chubb Australia. […]
Henkel AG & Co.KGaA, Germany, Henkel India Ltd's Foreign Promoter, having its Office at No.40191, Dusseldorf, Germany. It states that Henkel AG & Co.KGaA have signed a letter of undertaking on May 05, 2011 with M/s. Jyothy Laboratories Ltd., Mumbai for the sale of 5,93,60,203 Equity Shares (comprising 50.97%) held in the Company to M/s. Jyothy Laboratories Ltd., Mumbai. In an all-cash transaction amounting to Rs. 118.7 Crs, Henkel AG & Co. KGaA sells 5,93,60,203 equity shares at Rs. 20/- each to M/s. Jyothy Laboratories Ltd. M/s. Jyothy Laboratories Ltd. had acquired a 14.9% stake in Henkel India Ltd. from the Indian promoter M/s. Tamilnadu Petroproducts Ltd. in March 2011. […]
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