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Technology investors IDG Ventures India and SAIF Partners have closed one of the biggest venture investments in a specialised online retailer, pumping $14 million (Rs 68 crore) into e-commerce firm BrainBees Solutions, which runs baby-care portal First Cry and the newly-launched GoodLife for beauty and wellness products. The funding, led by IDG, closed on Saturday and underscores the frenetic deal-making across the country’s ecommerce industry. It comes just a week after online fashion retailer Myntra announced a $21 million funding […]
Hyderabad-based Associated Broadcasting Company Ltd (ABCL), which runs a clutch of regional news channels, has mandated Edelweiss Capital to find an investor that also includes complete exit from the business if the valuation is right. ABCL has a fund requirement of Rs 4 billion to launch news channels in Tamil for the Chennai market, Oriya and Hindi for the National Capital Region (NCR). The plan is to expand its fleet of channels to nine. “We are looking at an investor […]
Life Insurance Corporation of India (LIC) will pick up 5 per cent stake in Bank of Maharashtra through the lender’s preferential allotment of shares valued at around Rs 140 crore.
The board of directors of the bank has decided “to issue 2.53 crore equity shares as LIC of India may approve, on preferential allotment basis….,” Bank of Maharashtra said in a filing to the BSE.
At the prevailing share price of Bank of Maharashtra at Rs 56.05, the deal would […]
IT consulting and outsourcing company, Mahindra Satyam (formerly Satyam Computer Services Limited), has signed an agreement with New Delhi-based Dion Global Solutions Limited to acquire a strategic stake in the latter by way of fresh issue of equity shares. “Mahindra Satyam will pick up around 15% stake in Dion Global initially, which is expected to be increased at a later stage,” a top official of Mahindra Satyam said, requesting anonymity. In a filing to the BSE on Friday, Mahindra Satyam […]
IT company Manthan Systems today said it has secured $15 million investment from the US-based Norwest Venture Partners and it will use the same for funding acquisitions and other business expansion plans. The company, a software solutions provider for retail and consumer packaged goods industries, had earlier raised $35 million from Fidelity, IDG Ventures and other sources. As a result of the funding, NVP India’s Executive Director Mohan Kumar India will be joining Manthan’s Board, Manthan Systems said in a […]
India continues to be a small- to medium-sized deal market, with SMEs continuing to be the backbone of most PE investment portfolios in India, according to a recent report by Protiviti Consultants and the Asian Venture Capital Journal. The report, India Investment Opportunity: An Insight, based on a survey of PE fund executives, said that 48 per cent of respondents felt SMEs presented a better value opportunity than other categories of companies, while 40 per cent said it would depend […]
Private equity (PE) companies, whose investments have been stuck for four-five years due to lack of viable exit routes, are in a rush to sell stakes to peers. High valuations and a tough initial public offer (IPO) market saw 2011 witnessing the largest secondary transactions in the domestic PE space. This year, the space has witnessed two major transactions worth $200 million, when Olympus Capital and General Atlantic bought stakes in Indian firms through the secondary route. Vikram Utamsingh, head […]
Private Equity (PE) firms, whose investments have got stuck for the last 4-5 years due to lack of exit opportunities, are in a rush to sell their stake to peers. Due to the tough initial public offer (IPO) market, 2011 witnessed largest size of secondary transaction in Indian PE space. With the beginning of 2012, the PE industry witnessed two major transactions worth $200 million (about Rs 1,000 crore), where Warburg Pincus and General Atlantic bought stake in Indian firms […]
Flipkart, the poster child of Indian eCommerce, has acquired LetsBuy for $25 mn. This is a sign of things to come for eCommerce in India as lot of startups are looking for a payday. If 2011 was the year of starting up eCommercing sites selling anything from pots to shoes, 2012 would be an year of reflection and consolidation. The news is broke by Medianama yesterday night. Mainstream media doesn’t have it yet and also the news and other details […]
Singapore government’s investment arm Temasek Holdings’ unit Allamanda Investments has sold shares worth $300 million (about Rs 1,500 crore) in India’s largest private sector lender ICICI Bank. As per the bulk deal transaction data at stock exchanges, about 40 per cent of the sold shares were acquired by global financial services giant Goldman Sachs, but the identity of the other buyers could not be ascertained. The shares of ICICI Bank today slipped 1.8 per cent to close at Rs 919.85. […]
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