November 2012
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PVR buys entire 69.27% promoters stake in Cinemax India

PVR Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 29, 2012, approved, subject to receipt of relevant consents under applicable law, the purchase of entire 69.27% stake in Cinemax India Limited from the Kanakia family, promoters of Cinemax India Limited at a per share price of Rs. 203.65 and a total consideration of Rs. 394,97,54,278 through Cine Hospitality Private Limited, a wholly owned subsidiary of the Company.The Board also approved […]

ICICI Venture eyes 100% gain in Express Towers exit

ICICI Venture, one of the largest private equity firms in the country, is looking to sell its 49 per cent stake in Indian Express Newspapers (Mumbai) Ltd (IENL), which manages Express Towers, located at Mumbai’s Nariman Point. ICICI Venture was currently in talks with a number of investors like Blackstone, two executives in the know of the plans said. It was looking at getting around Rs 1,000 crore for its stake, which is double the Rs 500-crore investment it had […]

Swipe Telecom to raise $20 mn through PE

Pune headquartered Swipe Telecom India Pvt Ltd would be raising $20 million (Rs 110 crore approx) through private equity ( PE) route for expansion, branding and innovation of its products which include mainly tablet PCs. “We already have $ 10 million (Rs 55 crore approx) from a strategic investor Mantra Ventures which is based out of Pune. We hope to raise another $20 million through PE by early next year,” siad CEO of Swipe Telecom Shripal Gandhi. “We are in […]

Adani Ports may buy stake in Vizag Seaport terminal

Adani Ports and Special Economic Zone Ltd (APSEZ), the operator of India’s biggest private port at Mundra in Gujarat, may buy a stake in a privately run multi-commodity terminal at the Union government-controlled Visakhapatnam port in Andhra Pradesh as it seeks to bolster its presence on the country’s eastern coast and expand its port business, three people familiar with the plan said. Mumbai-listed APSEZ is 77.5% owned by Adani Enterprises Ltd, the flagship business of billionaire Gautam Adani. Vizag Seaport […]

Tata Housing turns to US PE player to raise capital

Tata Housing, a wholly owned subsidiary of Tata Sons on Thursday said the company has for the first time raised private equity funding from Atlanta-based Portman Holdings for its luxury project in Bengaluru. The Tatas are now following in the footsteps of Godrej Properties, which has regularly been raising PE funds to optimise its capital requirement and boost its return ratios.

Portman Holdings has invested around Rs 70 crore for 26 per cent equity in Tata Housing’s luxury housing project […]

IMCL in talks with PE firms to raise $75 mn

Hinduja-owned IndusInd Media and Communications (IMCL) is in talks with private equity investors to raise $75 million to fund the second phase of cable TV digitisation. IMCL has mandated Ernst & Young to find an investor for its funding requirement. “With India mandating digitisation, there is a huge appetite to invest in cable TV companies. We are looking at raising $75 million. E&Y has been given the mandate for this purpose,” IndusInd Media & Communications chief executive officer Nagesh Chhabria […]

Cbay’s Raman Kumar sets up venture fund

The Indian business process outsourcing industry in the recent times have been in news due to renewed interest shown by private equity industry. However, the one deal that missed creating the buzz was the acquisition of MModal, earlier known as CBay Systems, by One Equity Partners, JPMorgan’s PE partner for $1.1 billion.

The deal that was announced in July this year would be one of the large PE deal in the BPO space this year. A month after that, in […]

Piramal Group’s PE arm to raise Rs 1,000-cr health care fund

India Venture Advisors, the private equity arm of Piramal Enterprises Ltd, is set to raise a Rs 1,000-crore health care-focused fund. The Rs 500-crore fund, with an over-allotment of Rs 500 crore, will be launched officially within a month. India Venture, founded in 2007 by Ajay Piramal and A K Purwar, former chairman of State Bank of India, has its focus on health care and life sciences investments. The fund, India Venture Advisors Fund II, will be raised from domestic […]

CCI approves Religare’s 49% stake sale in MF biz to Invesco

Fair trade regulator Competition Commission of India (CCI) today said it has approved Religare group’s 49 per cent stake sale in its mutual fund business to global investment management firm Invesco. According to the deal, reached in September, US-based Invesco is acquiring 49 per cent stake in Religare Asset Management Company and Religare Trustee Company Pvt Limited, which manage assets worth over Rs 14,600 crore for Religare group’s mutual fund business.

Invesco is acquiring the stake through a group […]

Diageo to Buy Stake in United Spirits for $2 Billion

Drinks giant Diageo Plc has agreed to buy up to 53.4% stake in United Spirits Ltd (USL) for $2 billion (over Rs 11,000 crore) in a deal combining the world’s most valued liquor company with the largest volume player.

This one swig makes Diageo the new master of India’s booming liquor market with more than 50% share. India, one of the fastest growing geographies for alcoholic beverages, also becomes Diageo’s second largest market after the US.

The British behemoth, however, […]