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A new USD 200 million India fund was launched on Sunday by Aureos Capital , the world's leading private equity fund management company specialised in small and medium sized businesses in emerging markets. The focus will be on companies in emerging sectors and cities in India which are experiencing strong growth but because they remain below the radar of mainstream international investors, still have attractive valuations. “Traditionally, private equity firms in India have chased the same limited number of opportunities in cities like Bangalore and Mumbai. By looking beyond that, Aureos will be able to access strong companies at valuations below the rest of the market,” said Sev Vettivetpillai , CEO, Aureos. […]
One of India's largest custodial services providers Stock Holding Corporation of India (SHCL) is exploring the option of selling its 5% stake in National Stock Exchange. The integrated financial services provider hopes to use the stake-sale proceeds to start an NBFC and step into businesses like wealth management and private equity businesses. “Our core activities are all market-related… so when the market goes up, our profits zoom and when the market drops, we have very normal earnings. We'll have to diversify to keep the business going,” said Ashok Motwani, managing director and CEO of SHCIL, which claims to have 1,500 employees on its rolls. SHCIL, incorporated in 1986, has been jointly promoted by institutions like IDBI Bank, ICICI Bank, Special Undertaking of UTI, IFCI, LIC, GIC and NIC. […]
Future Ventures India Ltd, has reportedly announced that it has acquired another 5.14% stake in Indus-League Clothing Ltd. According to reports, Future Ventures has now increased its holding in the garment retailer to 90.84%. The deal size however was not disclosed. Indus-League has brands like Indigo Nation, John Miller, Scullers and Urban Yoga and has a market presence in India, Sri Lanka and the Middle Eastern countries. […]
United Telelinks Ltd., the maker of Karbonn branded mobile phones, is planning to sell a 15% stake in the unlisted company to private equity firms for six billion rupees ($135.2 million) as the Indian handset maker seeks to expand its business in the world's fastest-growing telecommunications market. “We are talking to private equity firms for raising funds,” founder and Chairman Sudhir Hasija said recently. “There are quite a few international private equity firms” interested in picking up stakes in the company, he added. Mr. Hasija said he expects to strike a deal after October, when the value of his firm is likely to touch about 40 billion rupees. By that time, the Karbonn brand will have cemented its No. 1 position among domestic handset makers after unseating local brand MicroMax in June, Mr. Hasija said. […]
Private equity firms, which have typically relied on banks, insurers and retail investors to raise money, now have a new source to tap—family offices, or independent companies formed to manage the wealth of families, usually through investments. A number of family offices have been formed in India over the past two to three years as successful business families have looked to diversify their portfolios. A single-family office is dedicated to one family, while a multi-family office serves several. Altamount Capital Management Pvt. Ltd, Evergreen Family Office and Metis Family Office Services Pvt. Ltd are some examples of multi-family offices. Banks such as Kotak Mahindra Bank Ltdand Barclays Capital, and financial services firms, including Edelweiss Capital Ltd, have also set up family offices. […]
Several Indian budget and midrange hotel chains are scouting for private equity money to fuel growth and expansion. Global and domestic investors are optimistic about India's emerging branded budget hotels, though the overall hospitality sector is yet to recover from the downturn of 2008-09, analysts said. “It wouldn't be difficult to raise money because for investors, India is one of the largest target markets for budget hotels,” said Akshay Kulkarni, executive director, hospitality services, Cushman and Wakefield India, a property advisory. Peppermint Hotels is preparing to boost its valuation before raising funds. […]
Private equity investments jumped to $5.8 billion in the first six months of 2011, driven by higher number of large-size transactions as well as increased activities in the infrastructure space, says E&Y. With capital markets remaining sluggish, more and more investors seem to be preferring the PE route to raise funds. According to global consultancy Ernst & Young , PE deal value in the six months ended June climbed 34 per cent to $5.8 billion as compared to same period a year ago. “The increase in aggregate deal value was largely driven by greater number of large deals (deals over USD 100 million). […]
Frontier Mediville, the proposed medicity project of Chennai-based KM Cherian promoted Frontier Lifeline, is looking at raising Rs 16-20 crore through private equity (PE) to invest in the first phase. The company has initiated talks with PE firms to raise capital and expects to finalise the deal in the next six weeks. However, it would not look at a significant dilution of promoter stake in the project at this stage. “We are looking for a small amount of around Rs 16-20 crore fund from PE firms. This would go into the Rs 160-crore Phase I of the project. We expect the first phase to be ready by November this year,” said Alamelu Sankaran, chief operating officer, Frontier Mediville. […]
Accel Partners, the globally-renowned venture capital and private equity fund, is set to embark on a fresh round of fund-raising dedicated to India. According to investment bankers, Accel Partners is understood to be firming up plans for a $125 million fund which will be its third in India. The Palo Alto, California-headquartered marquee venture capital fund, best known for investing early on in Facebook and Groupon, is understood to have sounded out its intent to various large fund of funds. The management of Accel Partners India offered not to comment on the fresh round of fund-raising. Accel Partners entered India in late 2008 when it acquired Bangalore-based early stage venture capital fund – Erasmic Partners. Erasmic at that stage was managing a $15 million fund. Accel post that went on raise its second fund in India and as of now manages a total $80 million and has so far backed 30 companies. […]
Paras Pharma founder Girish Patel, who exited his business in a blockbuster deal with Reckitt Benckiser, has jumped on to the private equity bandwagon in a trend of successful entrepreneurs setting aside their wealth to invest into small- and medium-size enterprises. And some of the cash-rich India Inc promoters are rolling up sleeves to be active investor managers in the new growth firms. Patel, 51, has JV capital fund Access India Advantage as operating partner after he mopped up Rs 1,000 crore selling 30% stake in Paras last year. […]
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