September 2012
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IDFC PE to acquire stake in Parag Milk Foods

IDFC Private Equity is all set to buy 15-20 % stake in Pune-based Parag Milk Foods for Rs 155-160 crore in the largest Private Equity transaction in the country’s dairy sector. Two people familiar with the discussions said the company will issue fresh shares to IDFC PE, while the transaction will also see existing investor Motilal Oswal PE reducing its stake in the company. Motilal Oswal had picked up around 10-12 % stake in Parag in June 2008 for close […]

CarZ to raise Rs 120 crore PE fund

CarZ, a Hyderabad-based start-up which is into the multi-brand auto solutions space, is looking at raising Rs 120 crore (around $25 million) private equity investment by February next year. “We are in discussion with multiple PE investors from India as well as abroad. We may raise the money from a single investor or multiple investors,” Venu Donepudi, co-founder and managing director of CarZ, told Business Standard. The company has 16 CarZ outlets across Andhra Pradesh, Karnataka and Kerala. “We have […]

Tech Mahindra buys 51% stake in Comviva

Tech Mahindra, on Monday announced the acquisition of 51 per cent stake in mobile value-added services (VAS) provider Comviva Technologies, a Bharti Group company, for Rs 260 crore. The acquisition is expected to shore Tech Mahindra’s top line. With the new brand identity, Mahindra Comviva, the mobility business of Tech Mahindra and Mahindra Satyam combined is expected to clock revenues of Rs 1,000 crore by March 2013. At present, Tech Mahindra and Mahindra Satyam get around Rs 500 crore of […]

MFI IntelleCash buys 60% stake in Arohan

In what can be seen as the first consolidation move in the Rs 20,000 crore-plus micro finance industry, IntelleCash Microfinance Network Company (P) Limited, an arm of the Intellecap group of companies, has bought 60 per cent stakes in the Kolkata-headquartered MFI Arohan Financial Services. The unique series of back-to-back transactions in IntelleCash and Arohan amounted to over Rs 52 crore and was facilitated by Aavishkaar Goodwell II, a fund that invests in entrepreneurial microfinance and financial inclusion businesses in […]

Motilal Oswal PE ties up with two Pune realtors

A realty fund managed by Motilal Oswal Private Equity Advisors (MOPE) on Thursday said it has tied up with two realty players to develop a 16-acre land parcel in Pune.

The land, located at Somatane on the city outskirts, has an estimated development potential of 7 lakh square feet, MOPE said in a statement.

Its India Realty Excellence Fund has formed a joint venture along with realty players Supreme Universal and Mirchandani Group, it said.

The joint venture will build […]

Peepul Capital may invest Rs 500-1,000 cr in Deccan Chronicle

Peepul Capital LLC, a Hyderabad-based private equity fund, is likely to invest Rs 500-Rs 1,000 crore in debt-ridden Deccan Chronicle Holdings Limited (DCHL), which publishes English newspapers Deccan Chronicle, Financial Chronicle and Asian Age, and Telugu daily Andhra Bhoomi. When contacted, Peepul Capital Managing Director C Srinivasa Raju said the company was willing to invest in Deccan Chronicle Holdings. However, he declined to specify the amount. “Our investment in DCHL would be from our $700-million fund (which includes $100 million […]

August sees highest PE deal value of year at $1.8 b

Private equity activity in India witnessed an uptick in August with a combined deal value of $1.8 billion, the highest so far this year. Out of 38 deals, Bain Capital’s acquisition of a 30 per cent equity stake in Genpact for $1 billion was the highlight, accounting for over half the cumulative deal value, according to research and consultancy firm Grant Thornton’s latest ‘Dealtracker’ report. IT, ITeS lead The Bain-Genpact deal enabled the part-exit of Genpact’s existing investors, General Atlantic […]

Temasek Holdings eyes Actis’ stake in Nilgiris Dairy Farm

Sovereign fund Temasek Holdings is in talks with Actis to acquire the latter’s stake in Bangalore-based retail chain Nilgiris Dairy Farm. Sources in the know, however, say a dispute between Actis and the promoters of Nilgiris is likely to disrupt the talks. Actis, which had acquired a stake of about 51 per cent in Nilgiris for Rs 300 crore ($65 million) six years earlier, had, in the recent past, increased the stake to 67 per cent. Though Actis has been […]

$1.8 bn of PE money at stake

The ongoing turmoil in the Indian coal sector is not merely about suspect allocations and inept domestic companies that have failed to utilise their captive assets. At stake is also about $1.8 billion of private equity (PE) money that has been brought into the thermal power sector between 2008 and 2012, according to Venture Intelligence, a research service focused on PE and M&A. Of this $1.8 billion, Blackstone Group, the New York Stock Exchange-listed global investment and advisory firm, has […]