February 2013
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Pipavav Defence offers 26% stake sale

Pipavav Defence & Offshore Engineering Company, the country’s largest defence ship building company in the private sector, founded by Nikhil Gandhi, has offered to sell 26 per cent of its equity. A group of corporate majors is interested. The talks are in an advanced stage and Pipavav’s board would soon meet to decide on the buyer, based on the offers received, a source involved with the negotiations said. The promoters were seeking close to Rs 8,400 crore, or Rs 120 […]

Jet expects deal with Etihad in a week

Jet Airways expects to finalise a stake sale deal with Abu Dhabi’s Etihad Airways in a week or so, an executive at the airline, who declined to be named. India’s Civil Aviation Minister Ajit Singh said earlier on Thursday, after meeting the top executives of the two airlines, that Etihad was in talks with Jet for a potential investment in the carrier. The terms of the possible deal have not been disclosed, but a government source said earlier this month […]

Private equities may tap M&As to exit in 2013 as IPOs dry up

Private equity and venture capital environment is likely to remain muted till 2014 with most PE players looking at exiting their investments and getting into a consolidation phase. However, owing to a relatively dry IPO pipeline, the standard exit route for PEs is no longer valid, said tax and advisory firm Grant Thornton in a joint report with Indian Private Equity and Venture Capital Association (IVCA). “PE’s are looking at other mechanisms of exits such as mergers and acquisitions and […]

Ratnakar Bank finalizes PE investors

Kolhapur-based Ratnakar Bank Ltd is set to raise Rs.330 crore from a group of domestic and global private equity (PE) investors by issuing 30 million new shares, pegging its value at Rs.2,500 crore. Domestic investors Aditya Birla PE, ICICI’s Emerging India Fund, IDFC Spice, Ascent Capital and Faering Capital have confirmed they will invest in the bank, a top Ratnakar Bank official said, declining to be identified because the deal has not yet been sealed. International Finance Corp., a member […]

Private equity biggies vie for Rs 400 crore VLCC stake

L Capital, the private equity arm of LVMH, the world’s biggest luxury goods group, is vying with Kohlberg Kravis Roberts & Co (KKR) to buy up to Rs 400 crore stake in homegrown slimming and beauty services chain VLCC, said at least two people familiar with the matter, adding that the company is worth more than $300 million. India-focused investment house ChrysCapital is another contender with the promoter, the Luthras, and existing investor Evertsone Capital short-listing three suitors, as they […]

TCG veteran to launch PE funds in realty, films

Bani Banerjee, a veteran of 17 years with The Chatterjee Group (TCG), is launching two private equity funds to tap opportunities in Indian real estate, hotels, and film and entertainment sector. Banerjee, who quit as executive director and chief investment officer of TCG Real Estate in mid 2012, is launching a $200 million (Rs 1,060 crore) special situations fund which will invest in both hotels and real estate sectors and Rs 200 crore film and entertainment fund. The special situations […]

Everstone Capital picks Rs 220-crore stake in Transpole

The logistics sector in India continues to see investments from large private equity (PE) investors. In the latest event, Everstone Capital, which has assets under management worth is $1.7 billion (Rs 9,141 crore), has acquired a significant minority stake in Transpole Logistics. The deal size is learnt to be around Rs 220 crore. Headquartered in New Delhi, Rs 500-crore Transpole has a presence across India and in other regions such as China, South Korea and South-east Asia. Founded in 2004 […]