April 2012
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Ruia group’s stake in Dunlop may decline to 38% from 65%

The holding of promoters led by Pawan Kumar Ruia in Dunlop India will be reduced to 38.53% if the proposal to issue five crore fresh shares to offset a Rs60 crore inter-corporate loan goes through, reports PTI.

Post-allotment, the Ruia group’s control (the existing promoters) will be slashed from 65.29% to 38.53%, Mr Ruia, the group chairman told PTI.

The loan was taken for working capital requirements and the allotment to these entities would help in better restructuring of the […]

KKR, Goldman Sachs to invest Rs 269 crore in TVS Logistics

Private equity firm Kohlberg Kravis Roberts & Co (KKR) and Goldman Sachs will invest Rs 269 crore in TVS Logistics Services to help it expand business, the three companies said on Thursday.

KKR and its affiliates would invest Rs 242 crore in the unlisted third-party logistics operator while Goldman Sachs will pour in the remaining Rs 27 crore, the companies said.

“The additional investment will allow TVS Logistics to continue expansion, both through acquisitions and organic growth,” said R. Dinesh, […]

Kajaria acquires 51% stake in Vennar Ceramics

Kajaria Ceramics has acquired 51 per cent stake in Vennar Ceramics, a subsidiary of Anjani Portland Cement (APC), by way of subscribing to fresh equity share capital of the company for Rs. 13.65 crore.

Kajaria Ceramics chairman Ashok Kajaria said: “This is the first acquisition by Kajaria in South India. Vennar is putting up a brand new plant which would start commercial production in June 2012”.

This will help Kajaria to cater to the southern markets from this plant enabling […]

Anil Agarwal’s son buys 60% stake in Primex Healthcare

Agnivesh Agarwal, son of the Vedanta Group’s founder-chairman, Anil Agarwal, has taken a controlling stake in Chennai-based Primex Healthcare. Primex operates healthcare centres across this city. This will be the first investment by Agarwal Jr in his personal capacity. While declining to comment on the value of the deal, Anand Mahadevan, founder & CEO, Primex Group, said “he (Agnivesh) will come as a strategic investor and join the company as executive director”. Agarwal said India had a fragmented diagnostics services […]

After Instagram, now Facebook acquires Tagtile

Leading social site Facebook is likely to acquire Indian origin based developer Tagtile. Both the parties have welcomed the deal. It is another milestone for the Facebook as last week it has purchased photo-sharing app Instagram. Facebook sources say that it has to acquire the Tagtile’s and its founders are joining us. Company is acquiring substantially all of the company’s assets. On the other side Tagtile has also welcomed the deal and said that it’s a huge opportunity for the […]

A venture fund that focuses on HR start-ups

The human resources management industry is the new target of serial entrepreneur Mr Varun Talwar, Chief Executive Officer of India’s first HR-focussed venture capital fund, The HR Fund. The fund will concentrate on providing venture capital to HR service start-ups like temping and staffing firms, training and HR software development firms. Set up in November 2011 with a corpus of Rs 60 crore, the fund aims to cash in on an expected boom in the industry, which is still in […]

PE realty players look for controlling stake

Private equity players have turned wary of the Indian realty sector’s below-expectation returns, and are now choosing to play safe by picking large stakes in SEZs while staying away from residential property. The head of an advisory firm that is negotiating one such deal between a PE player and a developer in a South India-based Special Economic Zone (SEZ) told Hindustan Times, “PE funds, especially the multinational ones, now want control in their real estate investments due to the past […]

Trafigura to buy up to 24% stake in NOCL refinery for $130 mn

Oil trader Trafigura has made its first move into refining in Asia, investing up to $130 million for a 24% stake in Nagarjuna Oil Corp Ltd’s (NOCL) planned refinery in southern India and replacing BP as NOCL’s crude supplier. India and other emerging markets are boosting refining capacity to feed rising regional demand, while their counterparts in the United States and Europe restructure or shut plants as fuel sales slow. This is the first direct investment in the refining business […]

Carlyle, Sequoia in talks with JSM for stake

Private-equity funds including Carlyle Group and Sequoia Capital are in separate talks to invest about $40 million to $50 million in JSM Corp, which operates the Indian franchises of Hard Rock Cafe and California Pizza Kitchen, two sources with knowledge of the matter said. JSM Corp, which runs 12 outlets across different brands, is looking to raise capital to expand its networks and operations, said the sources, who declined to be named as the discussions are not yet public. Premji […]

Sony Pictures to pick up 30% stake in MAA TV

Hyderabad-based MAA Television Network Ltd and Sony Pictures Television have entered into a strategic alliance to give a growth thrust to MAA TV and its network of Telugu television channels. The tie-up would enable Sony Pictures or any of its affiliates to acquire 30 per cent equity stake in MAA TV on signing a definitive agreement and subject to obtaining necessary approvals from the statutory authorities concerned. The majority shareholders of the two companies have signed a letter of interest […]