May 2012
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India Value Fund Advisors eyes Rs 500 crore stake in Manipal

India Value Fund Advisors (IVFA) may invest up to Rs 500 crore ($100 million ) in Manipal Hospitals, the third-largest domestic healthcare service provider, as the latter holds talks with private equity (PE) firms to accelerate expansion plans.

IVFA, with $1.4 billion in assets under management, is bullish on healthcare and has pursued deals, including buyout opportunities, in the sector. The PE firm may back Manipal to chase buyouts in an industry where many smaller chains and standalone hospitals […]

PE firms target growth sectors via holding firms

Private equity (PE) firms in India are increasingly looking to create holding companies to invest in high-growth sectors such as food and beverage (F&B), agriculture, education and clean-tech. A holding company is typically created to own stakes in other companies, especially by corporate groups running multiple and varied businesses. The revenue of the holding companies is expected to be larger than that of the stand-alone firms in its portfolio, making them more attractive in initial public offerings (IPOs) of shares—the […]

Panasonic acquires 76% stake in Firepro Systems

Japan’s largest electronics company, Panasonic announced plans to acquire 76.2% stake in Firepro Systems, a Bangalore-based company in infrastructure protection and security solutions such as fire alarm, fire suppression, video surveillance and building management.

Panasonic has also decided to enter into a definitive agreement for subscription of new shares through its wholly-owned subsidiary, Anchor Electricals. Panasonic will acquire a portion of Firepro’s ordinary shares owned by financial investors, while Anchor will invest in Firepro through a fresh issue of […]

Capital international PE closes Rs 16,140-crore fund

Emerging market focused private equity fund, Capital International Private Equity Funds (CIPEF ), which is managed by Capital International, announced the final close of its $3-billion (Rs 16,140 crore) Capital International Private Equity Fund VI (CIPEF VI). According to the Emerging Markets Private Equity Association (EMPEA), CIPEF VI, is the largest global emerging markets private equity fund closed in the last five years. Capital International, part of the Capital Group Companies, is an institutional investment manager and has been investing […]

Bharti may buy 26% in Qualcomm venture, get a leg-up in BWA space

US telecom giant Qualcomm Inc will rope in an operator as partner, who would initially pick up the 26 per cent stake held by Tulip Telecom and GTL Group in its India broadband wireless access (BWA) venture. The two hold 13 per cent each in the venture. Talks with Bharti Airtel as the new partner, in their final stages, are expected to be completed soon as the US company received BWA spectrum in four circles yesterday after more than 18 […]

Marg’s Karaikal Port raises Rs 200 cr from PE funds

Karaikal Port, a private port developed by Chennai-based Marg, has secured its third private equity infusion to part-fund its expansion plans. Private equity firm Jacob Ballas India, backed by New York Life International, has invested Rs 200 crore in Karaikal Port to pick up a minority stake.

Jacob Ballas India has made the investment of Rs 200 crore (by way of primary and secondary investments) from its NYLIM Jacob Ballas India Fund III, which has a corpus of $440 million. […]

Schroders takes 25% stake in Indian firm

Schroders is acquiring a 25 per cent stake in Indian asset manager Axis Asset Management Company from Axis Bank. The stake in the asset manager, which has gathered £1.4bn in assets under management since it launched in 2009, will be acquired through subsidiary Schroder Singapore Holdings Private. Schroders chief executive Michael Dobson says: “This enables us to participate in the growth opportunity represented by the Indian mutual fund market. In addition to distributing Axis Asset Management Company’s funds internationally, there […]

Louis Vuitton buys 8 pc stake in Fabindia

Louis Vuitton Moet Hennesy (LVMH) bought 8 percent stake in Fab India, the Indian clothes and lifestyles products retailer. The stake sale saw the exit of Wolfensohn Capital Partners exit from the company. The deal value was around Rs. 150 crore, according to AZB & Partners, the law firm which advised LVMH in structuring the transaction and carried out due diligence, drafting, negotiation and finalisation of the transaction documents. L Capital bought the stake from venture capital fund Wolfensohn Capital […]

Navis Capital in talks to buy stake in Twilight Litaka

The Indian pharmaceutical market continues to attract private equity (PE) investors. Following the recent investment of Rs 300 crore by ChrysCapital in Intas Pharma, another deal is expected to be announced soon. Malaysia-based Navis Capital Partners is in talks with Twilight Litaka Pharma Ltd for a possible investment of about Rs 150 crore in the company. The percentage of stake in question is not clear. Navis is known for buying a controlling stake in portfolio companies. Last year, it took […]

Axis Bank reworks Enam swap ratio

Axis Bank has reworked the exchange ratio in the Enam deal, which has been cleared by the Reserve Bank of India, from 5.7:1 to 5:1. In other words, Enam shareholders will receive 5 shares of Axis Bank for each Enam share as against 5.7 earlier.

The bank’s board approved the reassessment of valuation in its Friday meeting. Besides the Enam deal, the board approved the sale of a 25% plus one share stake in Axis Mutual Fund to Schroders […]