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ICICI Venture to exit Medica Hospitals

ICICI Venture, which holds close to two-third stake in Medica Synergie, is expected to exit the firm in the next three to four weeks. “A deal is in pipeline and expected to mature in the next three to four weeks in which new investors will come in and ICICI Ventures will exit,” Medica Synergie CEO Ayanabh Debgupta said when asked. Medica Synergie is one of the largest integrated healthcare delivery providers in eastern India managing hospitals with combined capacity of […]

India Ventures to float Rs 1,000-cr healthcare fund

Ajay Piramal Group promoted India Venture Advisors, a healthcare focused venture capital, is planning to launch a Rs 1,000 crore fund.

“We are looking at Rs 1,000 crore fund, of which Rs 500 crore will be from overseas investors to invest in the Indian health-care market,” India Ventures Advisors President Sanjay K Randhar said.

He said the existing Rs 400 crore has been completely invested or committed and a new fund will be unveiled.

“We will be […]

Food majors, PE funds look to snack on Balaji Wafers

Global food majors PepsiCo and Mondelez, along with their Indian counterparts ITC and Britannia, have been approached for a large bite of Balaji Wafers – a 37-year-old homegrown wafer, namkeen and savoury brand that dominates the western states of Gujarat, Madhya Pradesh, Rajasthan, Maharashtra and Goa with over 65% market share. Rajkot-headquartered Balaji, run by the Virani family, has recently mandated Ernst & Young (E&Y) to locate an investor. The company and its advisors are in early-stage talks with several […]

Abu Dhabi’s ADIA Invests $200m In India Real Estate

Abu Dhabi Investment Authority (ADIA) plans to invest about $200 million in Indian real estate, two sources said, underscoring a trend for large Gulf sovereign wealth funds to diversify away from traditional developed markets such as Europe. ADIA, which manages the surpluses the Gulf emirate earns from oil exports, has appointed Kotak Realty Fund, run by Kotak Mahindra Bank Ltd, to invest the money, one of the sources familiar with the matter said. Earlier this month, Oman’s State General Reserve […]

Blackstone to Buy Indian Auto Parts Maker Agile Electric

U.S. private equity firm Blackstone Group LP (BX) has agreed to buy a 98% stake in Indian auto parts maker Agile Electric Sub Assembly Pvt. for 3.32 billion rupees ($56.1 million), triggering a tender offer for a 26% stake in Agile Electric’s locally-listed venture Igarashi Motors India Ltd. (517380.BY), said the manager of the tender offer Wednesday. Blackstone will further invest $33.8 million in the two Indian companies, a person familiar with the matter said late Wednesday. Agile Electric owns […]

Private Equity exits up 38% in April-June 2013: Venture Intelligence

The exit of private equity (PE) firms from their investee companies has shown an upward trend in the quarter ended June 2013, with exits were reported from 29 Indian companies as against 21 exits during the same quarter of last year marking an increase of 38%, says research service firm Venture Intelligence.

The Initial Public Offering (IPO) of internet-based search firm JustDial has fetched over 10x return for one of its PE investor SAIF, while exit of PE investor TPG […]

Mukesh Ambani picks up stake in Epic TV

Billionaire industrialist Mukesh Ambani has turned a venture capitalist and is backing a new television channel Epic TV due to go on air next month. Epic TV is a niche high-definition channel, which will have content based on the nation’s history, folklore and mythology in a contemporary format. Set up last October, Epic Television Network is being led by Mahesh Samat, former managing director of Walt Disney Company, who had left the US major last year after a four-year stint. […]

NRI picks up 5% stake in Federal Bank

The NRI businessman and managing director of the Abu Dhabi-based EMKE Group, has picked up 4.98 per cent share in the Kerala-based Federal Bank. The value of the stake is roughly Rs 400 crore and Yusuff Ali will now be the largest individual shareholder, sources said. Yusuff Ali is one of the richest NRIs, with extensive business operations in West Asia. EMKE Group runs the LuLu Hypermart chain that has branches in the Gulf and many Asian and African countries. […]

Temasek, Abu Dhabi fund, Ontario invest $250 mn in Kedaara Capital

The environment might be tough for private-equity (PE) fund managers struggling to raise their debut funds, but Manish Kejriwal has managed to buck the trend. Kedaara Capital, founded by the former head of Temasek India, has successfully roped in some of the largest sovereign funds, such as Temasek Holdings and Abu Dhabi Investment Authority (ADIA).

According to sources, Kedaara Capital raised $500 million last month. About half the amount has come from major investors including Temasek, ADIA and Canada’s Ontario […]