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Telecom and IT services firm Spanco Ltd is in talks to bring in private equity investment in its BPO business and expects to close a deal in the next six months, an official told Reuters late on Monday. “We will bring in a private equity investor and give an exit through an initial public offering in three years,” Kaustubh Dhavse, vice president, strategy, said. This investment will be a part of the 5-billion-rupee influx of funds approved by the company's board in March. The firm, whose BPO business clocked revenue of 2.1 billion rupees, expects the business to double in FY12 as it expands its operations in both Africa and India, Dhavse said. […]
Private equity funds with real estate focus, many of which are nearing maturity, are in a dilemma: while investment valuations in the sector look good, they are not generating the returns promised to investors. Most of these funds promised 25% returns post-tax, but have been ticking at an average 15%. “This is the right time to invest in real estate for PE funds if they are willing to take risk and think outside metros as the valuations are attractive — but it is the wrong time to raise funds,” said the CEO of one of the top RE funds headquartered in Mumbai. Analysts say high property prices limit the growth of investment, but the desperate need of developers for liquidity boost their bargaining capacity. […]
Nearly three years after raising a record $100 million from private equity funds to expand its presence in multi-specialty expansive hospitals in 5-6 cities in India, Narayana Hrudayalaya is once again tapping the private equity route to expand its presence in the neighbourhood speciality clinics space. Riding the wave of PE fund raising by Vasan Healthcare, MedPlus and Metropolis, Narayana Hrudayalaya is looking to raise $15 million to expand its network of dental clinics to start with. The company had earlier stated it will spend around Rs 150 crore over the next couple of years to expand presence in this space. Narayana Hrudayalaya, in fact has set up a wholly-owned subsidiary for this foray and in addition to dental clinics, the company is also looking at cosmetology and may at a later stage look at eye-care and birthing centres. […]
Janalakshmi Financial Services, a Bangalore-based microlender to the urban poor, raised 650 mln rupees ($14.4 mln) in its third round of private equity funding taking the total amount to a little over 1 bln rupees, Chairman Ramesh Ramanathan told reporters on Wednesday. Funds to India's microfinance sector have dried up after it suffered a setback late last year when Andhra Pradesh, which had the largest microfinance market in India, approved legislation to regulate the industry following complaints about high interest rates, aggressive recovery practices and overextended borrowers. “Coming after a major crisis in the sector, this is a major transaction and is a clear sign that the tide is turning for microfinance,” Ramanathan said. Citi Venture Capital International has acquired a significant minority stake in the company through this latest round of funding, though he did not reveal details. Other investors in this round include TreeLine and other existing private investors. Bangalore-based Unitus Capital was the lead arranger and adviser of the issue. Morgan Stanley also acted as an adviser. […]
Indians' obsession with schooling combined with woeful public education and rising incomes has private equity firms on the hunt for scarce opportunities in the country's booming but fragmented for-profit education sector. Deals tend to be small in the highly regulated industry. The Indian education sector saw 11 private equity investments worth a combined $130 million in the first four months of 2011, putting it on track to surpass last year's $261 million raised from 25 deals, according to a report by Kaizen Private Equity. Recent deals include a 1 billion rupee ($22 million)investment in staffing and vocational training firm Teamlease by Indian funds Gaja Capital and ICICI Ventures, the $2 billion private equity arm of No. 2 lender ICICI Bank . New Silk Route, which runs a $1.3 billion fund focused on the Asian consumer sector, has made one investment in Indian education and is hoping to close its next investment in the vocational or test prep segment in the coming six months, said partner Jacob Kurian. […]
Private Equity (PE) and Venture Capital (VC) investments, which are major contributors in development of several sectors in the country, are likely to touch $70-75 billion till 2015, leading audit and advisory firm Grant Thornton said today. “We expect $70-75 billion of PE and VC investments in India during 2010-2015,” Sudhir Sethi, founder, chairman and managing director, IDG Ventures India and member of IVCA Executive Committee and Research and Data Sub Com told reporters here after the launch of 'The Fourth Wheel'. 'The Fourth Wheel' is a report on PE and Venture Capital (VC) in India, jointly prepared by Grant Thornton and India Venture Capital Association (IVCA). Grant Thornton India Partner, leadership team, Harish HV said PE funds had now crossed $50 billion over the last six years and 2010 alone saw $6 billion fund flow. […]
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