January 2012
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3i invests Rs 310 cr in Supreme Infra road portfolio

Supreme Infrastructure India today said private equity fund 3i India Infrastructure has picked up a minority stake in its BOT road projects’ portfolio for $61 million (about Rs 310 crore). “We received offers from a number of investors but chose to partner with 3i given their track record in India and understanding of the infrastructure sector,” the Supreme Infrastructure (SIIL) Managing Director, Mr Vikram Sharma, said in a statement. The company has built over 400 km highways and currently sitting […]

Starbucks in deal with Tata to open cafes in India

Starbucks Corp, the world’s largest coffee company, signed a deal with Tata Global Beverages to open its first coffee shop in India, a year after it announced its retail foray into the country. The Seattle-based company signed a pact with Tata Global Beverages in January 2011 to buy coffee from India and open retail outlets in the country. Tata Global Beverages, part of the salt-to-software Tata conglomerate, said it would form an equal joint venture with Starbucks to run cafes […]

Limited partners seek to divest Indian private equity portfolio

Amid waning growth sentiment, limited partners (LPs) or investors in private equity (PE) funds are increasingly selling their Indian portfolios as they exit from funds that have not performed in line with expectations. Such secondary deals typically take place at a discount when LPs, such as pension funds, endowment funds or family offices, sell their stake in PE firms to funds that specialize in such deals. In April 2011, for instance, secondary fund Paul Capital invested in NewQuest Capital Partners, […]

Mind Shaper in talks with PE investors for $40 million

Mind Shaper Technologies, a provider of educational content under the brand Classteacher Learning Systems, expects to tie up $40 million of private equity (PE) investment in the next three months. The company develops digital educational content for the so-called K-12 segment that encompasses school children studying in kindergarten to class 12. “We are in talks with private equity investors who will be picking up a minority stake in the company,” Sameer Buti, co-founder and director of Mind Shaper Technologies, said […]

Eredene Capital sells 10% Sattva CFS stake to Sattva Business Group

Eredene Capital has sold 10 per cent of its stake in Sattva CFS & Logistics Pvt Ltd for £1.1million (about Rs 8 crore) to the Chennai-based Sattva Business Group, which is the promoter of the container freight station (CFS). The partial sale was the first disposal since the UK-based investor Eredene Group began building a portfolio of infrastructure investments in India in 2007. The Eredene Group subsidiary originally invested £880,000 for 49 per cent of Sattva CFS with the Sattva […]

BlackRock and Hemendra Kothari’s DSP Group to set up PE fund targeted at mid-sized cos

The world’s largest asset management firm,Blackrock , will join hands with Hemendra Kothari’s DSP Group to set up a private equity fund to do ‘classic PE deals’ targetted at mid-sized companies.

People close to the situation said DSP and the US-based BlackRock, which run a joint venture asset management company, are discussing the formation of a separate firm to run the new business.

The partners have already formed a team and have begun identifying top executives to be […]

NTT to buy 74% stake in Netmagic

NTT Communications Corp., a unit of Japan’s Nippon Telegraph and Telephone Corp, will buy a 74% stake in Indian data centre services provider Netmagic Solutions Pvt. Ltd. While financial details of the transaction were not disclosed, Telecompaper, an independent research and publishing firm focused on the telecom industry, pegged the transaction to be around 10 billion Japanese yen (Rs.642 crore). A person directly involved with the deal confirmed the transaction value. He spoke on condition of anonymity. Netmagic operates seven […]

NMCE promoters in talks with PE players, banks to dilute stake

Ahmedabad-based National Multi Commodity Exchange (NMCE) is in talks with five private equity players and large private banks to divest part of shareholders’ equity in the exchange, to meet the regulatory guidelines before the extended deadline of March 31, 2012. Currently, the exchange has an equity share capital of Rs 19.12 crore, which, according to revised guidelines, should be raised to at least Rs 50 crore before March 31. Also, the promoters’ stake needs to be brought down to 26 […]

IOC venture gets Rs 100-cr investment from IIDF

IOT Infrastructure & Energy Services Ltd (IOT) announced on Monday that Rs 100 crore have been invested in the company by India Infrastructure Development Fund (IIDF), a private equity fund managed by UTI Capital. IOT is a joint venture between Indian Oil Corporation (IOC) and Oiltanking GmbH of Germany. The fresh investment will help IOT meet its capital requirements for various projects including the over 1.4 million kilolitre petroleum product facility at IOC Paradip refinery and the proposed 1.92 lakh […]

GMR close to Rs 600-cr private equity deal for highways business

GMR Infrastructure is understood to be giving final touches to raise close to Rs 600 crore through the private equity (PE) route to fund expansion of its highways business. Investment bankers close to the company indicate a deal is expected to be signed within three weeks. This will facilitate financial closure for the Rs 7,500-crore highway project the Bangalore-based firm won in October, for a 555-km stretch from Ahmedabad to Kishangarh, Rajasthan (about 30 km from Ajmer). The company, according […]