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Turkish firm buys 42% stake in Hind Glass arm

Turkey’s Trakya Cam Sanayii AS, sixth largest global player in float glass, plans to manufacture automotive glasses as well as set up more float glass facilities in India following picking up of a stake in HNG Float Glass Ltd, which has a plant in Gujarat. Hindusthan National Glass & Industries Ltd (HNGI), the largest glass bottle maker in the country, on Friday announced the company and its promoter, the Somany family, are divesting 42.6% stake in HNG Float Glass (HFG) […]

Temasek, KKR eyeing stake in Alliance Tire

Private equity firms including Singapore state investor Temasek Holdings and KKR & Co are separately in advanced talks to buy Warburg Pincus LLC’s majority stake in Indian tyre maker Alliance Tire Group for about $400 million, three sources with direct knowledge of the matter said. Other interested bidders include US private equity firms Advent International and TPG Capital, said the sources, all of whom declined to be named as the details of a possible deal are not yet public. Alliance […]

Dabur India promoters pick up stake in DMI Finance

The Burman family, promoters of consumer goods company Dabur India, has acquired a minority stake in DMI Finance, a non-banking finance company (NBFC). The investment marks the Burman family’s entry into the NBFC market and secured lending space. As a result of the investment, Gaurav Burman — who has 20 years of experience in the financial services industry — will join the board of DMI. Established in 2009, DMI Finance was founded by Yuvraj C. Singh and Shivashish Chatterjee, both […]

ICICI Venture raises $700 mn in 2012

ICICI Venture (I-Ven), one of India’s largest private equity entities, was able to raise funds faster last year. In 2012, it successfully closed a $100-million (Rs500 crore) second real estate fund, the India Advantage Fund Real Estate Series 2. Through its real estate and other funds, it raised $700 million last year. I-Ven made two investments from the new realty fund. One was in a group housing project in the National Capital Region (NCR) region, being developed by Advance India […]

PE investments in India down by 15% to USD 8.85 bn

Aggregate private equity investment in India last year declined by 15 per cent to USD 8.85 billion due to “adverse sentiment”, consultancy firm PwC today said. “Aggregate PE investments declined 15 per cent, at USD 8.85 billion across 406 deals, compared to USD 10.35 billion from 481 deals in 2011…the adverse sentiment significantly impacted PE investments for the year,” it said in a report. “(a) factor which caused a lot of grief to the investment community was the complete policy […]