October 2012
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Panacea Biotec may tap PE fund for hospital business

Panacea Biotec, the Rs 700-crore drug and vaccine major, is betting big on hospitals. The New Delhi-based company is likely to tap private equity funding for expansion. Last year, Panacea had bought 76 per cent stake in Umkal Hospital, Gurgaon, and is developing a 225-bed multi-super specialty hospital here. This facility, set to begin operations by March 2013, is being developed at a cost of Rs 145 crore. Once the hospital, Panacea New Rise Hospital, starts operations, the healthcare major […]

L&T may acquire stake in Future Generali

After selling a majority stake in his financial services arm, Future Capital, to PE giant Warburg Pincus, Kishore Biyani is getting ready to unlock the value in his general insurance joint venture Future Generali India Insurance Company by selling Pantaloon Retail’s stake to L&T. Founded in 2007, Future Generali is a JV between Future Group and the Generali Group of Italy. The Future Group owns 74 per cent in the company, while the Italian insurer owns 26 per cent. Of […]

Blackstone invests $100 mln in Indian tractor manufacturer

The Blackstone Group has invested $100 million for a 12.5 percent stake in India’s International Tractors Ltd (ITL), the U.S. private equity company said in a statement on Monday. ITL, which manufactures tractors, is the flagship company of India’s Sonalika Group. Source: Reuters

Carlyle exits HDFC stake in India with $841 million sale

Carlyle Group LP has raised $841 million in India’s fourth-biggest equity deal this year by selling its remaining 3.7 percent stake in the country’s top mortgage lender, Housing Development Finance Corp Ltd (HDFC), said a source with direct knowledge of the deal. The sale marks the US private equity firm’s exit from HDFC after nearly doubling its original 2007 investment of $650 million with this latest sale and one in February that raised $270 million. The HDFC share sale came […]

VLCC to raise Rs 250 crore from PE to support acquisitions

Home-grown beauty and wellness chain VLCC expects to raise about Rs 250 crore by selling a minority stake to private equity (PE) within the next few weeks to support acquisitions in the south-east Asia, said a company source. The company, which is valued at $400 million, is in advanced talks with a few PE firms in India and abroad for the fund raise. “Funds raise would be used in capital expenditure and to finance acquisitions,” said the source. JM Financial […]

US govt’s finance arm to invest $135 mn in Indian PE firms

Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, is investing $135 million in financing for two investment funds from India. OPIC’s fund will support small and medium-sized enterprises (SMEs) and industrial logistics parks in India.

The Board of Directors has approved $35 million for the BanyanTree Growth Capital II fund. BanyanTree’s fund has a target capitalization of $175 million.

The Board also approved $100 million for IndoSpace Logistics Parks II, which will invest in warehouses, distribution centers, […]

US co buys 49% in Religare Mutual Fund

US-based investment management firm Invesco is buying 49% in Religare Mutual Fund in a deal that marks the re-entry of a foreign partner into the Indian asset management company. Religare MF was launched as a joint venture between Religare and Aegon, but the Dutch financial services major exited the JV in 2009 by selling its stake to the Indian firm. While announcing the JV on Thursday, officials from Religare MF and Invesco declined to disclose the deal size. However, industry […]

Everstone to buy 35% in S Chand publishers

Everstone Capital is set to buy about $30 million stake in the seven-decade-old S Chand Group, a leading publisher of textbooks and digital learning, as private equity firms chase deals to transform old family-run companies.

Everstone, managing assets worth $1.8 billion, may take around 35% stake in the New Delhi-based publishing business, said people familiar with the matter. The fund will help the third generation family promoters to grow their content through acquisitions and more aggressive bet on digitization, […]

Norwest Venture Partners invests Rs 120 cr in Thyrocare

Thyrocare Technologies, a Mumbai-based medical diagnostics services provider, has raised about Rs 120 crore from private equity (PE) firm Norwest Venture Partners (NVP). Through the deal, Thyrocare has diluted about 10 per cent stake in the company, it is learnt. As part of the agreement, Sohil Chand, managing director of NVP India, would join Thyrocare’s board of directors. The diagnostics market in India is estimated at Rs 10,000 crore. Thyrocare’s network of 20,000 service centres across 1,000 cities and towns […]

Dalmia Continental sells 27% stake to Italy’s Nicola Pantaleo

Dalmia Continental, which sell olive oil under Leonardo brand, today said it has sold 27% stake in the company to Italian firm Nicola Pantaleo. The company did not disclose the size of the deal. Dalmia Continental Pvt Ltd (DCPL) announced the “conclusion of a joint venture agreement with the Italian company Nicola Pantaleo, S.P.A (Pantaleo).

“Pantaleo consequently holds 27 equity in DCPL,” the company said in a statement.

When contacted, Dalmia Continental Chairman V N Dalmia said: “Its an strategic […]