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Real estate PE funds are different. These funds invest in real estate projects by tying up with the developer, wherein the developer sells a portion of the project to the fund. Some funds tie up with companies also. Most funds operating in India have a lock-in period of three to seven years. At the end of this period, the fund exits the holding by selling it in the secondary market. If the investment is in a commercial property, the fund may rent it out within the lock-in period and exit later. Most funds invest in residential projects and those commercial projects that are nearing completion. While residential projects move faster in the market, there is a rental yield attached to commercial projects. […]
Lead manufacturer company Gravita India on Tuesday announced to acquire 80 per cent stake in Jammu and Kashmir based Metal Inc, Kathua. Gravity is also under process to acquire the balance 20 per cent stake in Metal Inc, Kathua, Gravity India said in a statement. The company said the latest addition hall further increase the Lead smelting and refining production capacity of company by 3,600 tonnes per annum to 46,200 tonnes per annum. […]
Motherson Sumi agreed to purchase an 80% stake in Germany's Peguform for an undisclosed amount, as the Indian maker of auto parts takes yet another step to expand its product portfolio and customer base. Motherson Sumi will buy the stake jointly with group firm Samvardhana Motherson Finance Ltd. via a special company in which the auto parts maker will hold a 51% stake and Samvardhana Motherson the remainder. The stake will be purchased from Austria's Cross Industries AG, which will hold 20% of Peguform post the transaction, Motherson Sumi said. The deal also includes buying a 50% stake in Wethje Carbon Composite, which is part of Cross Industries, it said. The acquisition is subject to regulatory and other necessary approvals. […]
Billionaire Mukesh Ambani-controlled Reliance Industries is conducting an advanced due diligence exercise on telecom services provider Aircel, three people said on condition of anonymity. Reliance Industries has completed atleast three rounds of due diligence on Aircel and may offer to buy a controlling stake in the company if talks between the two sides result in a deal. Reliance Industries marked its foray into the telecom sector by acquiring Infotel Broadband for close to $1 billion last year giving it broadband wireless access licenses in 22 circles across India. A spokesperson for Reliance Industries denied any such move. An Aircel Spokesperson said in response to queries from ET Now, “This is a baseless rumour and a mere speculative report”. […]
Private equity and venture capital investors have pumped $93 million into 10 education companies so far in 2011 and are bullish about the sector's prospects going forward. According to Venture Intelligence, PE/VC investors have already invested $93 million in 10 education companies so far in 2011, led by a INR 100 crore (about $22 million) investment in vocational training and placement firm Teamlease Services. PE investment in the education sector increased from $129 million in 2009 to $183 million in 2010. Some of the recent large deals in the sector include Premji Invest's $43 million investment in Manipal Education and India Equity Partners' $37 million investments in IL&FS Education and Technology Services. […]
The petroleum ministry said on Wednesday that it has recommended the $7.2 billion (Rs 32,400 crore) Reliance-BP deal to the Cabinet Committee on Economic Affairs (CCEA) for an “unconditional approval”. The deal gives the British energy major a 30% stake in 23 oil and gas fields in India including RIL’s gas-producing KG-D6. A senior petroleum ministry official said that the petroleum ministry has the authority to decide on the RIL-BP deal, but it was referred to the Cabinet as it is one of the single largest foreign direct investments. The Cabinet will take up the issue for a decision next week. […]
WPP PLC said that its wholly-owned operating company JWT, the global advertising network, has agreed to acquire a majority stake in Mindset Advertising Private Ltd. for an undisclosed sum. Mindset Advertising is an advertising agency in India offering creative services, strategic planning and campaign execution in digital, print and television. […]
Private equity investors Franklin Templeton Private Equity Strategy, a fund managed by Franklin Templeton Asset Management (India) Pvt Ltd; Aureos South Asia Fund and ePlanet Capital have taken up a majority stake in Newgen Imaging Systems Pvt Ltd, a Chennai-based unlisted e-publishing outsourcing firm, according to two people with knowledge of the matter. According to Balaji Srinivas, managing director, Aureos India Advisors Pvt Ltd, the company was convinced about the opportunity in the outsourced publishing space, specifically in the opportunity that presented itself in the digitisation of books. […]
Standard Chartered Private Equity has bought a 10 per cent stake in Chennai-based supply chain management firm Redington India from two of the latter’s major shareholders, Taiwan-based Synnex and Redington Mauritius, for nearly $100 million. The transaction of 47.63 million shares took place via a block deal on the BSE at Rs 91.9 a share on Monday, and represented a 3.5 per cent premium to Redington India’s Friday closing price of Rs 88.85. Shares of Redington India touched a high of Rs 93.50 on the BSE during intra-day trade on Monday, but closed at Rs 88.50, marginally below Friday’s closing. […]
IDBI Bank has bought 10% stake in Universal Commodity Exchange (UCX), which is yet to start operations, for Rs 10 crore, a newspaper reported. The commodity exchange is promoted by IT People, a company that provides software solutions to capital and commodity markets. “The idea behind acquiring equity is to push agricultural loan through this venture,” said the bank's Chairman and Managing Director RM Malla, confirming the development to the newspaper. Moreover, IDBI will be the only bank among promoters and therefore all transactions of the exchange will be routed through IDBI, he said. UCX officials were not immediately available for a comment for this report. […]
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