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Ajmera Realty & Infra has approved the proposal to acquire the 90% stake in Laudable Infrastructure LLP Ajmera Realty & Infra India said Laudable Infrastructure LLP (Laudable) has entered into a partnership with Ajmera Bora Associates, wherein Laudable holds 67% stake and rest 33% vests in Bora Group. This partnership firm holds land of about 1.87 lakh square feet (sq.ft.) in Pune. Ajmera Realty's consolidated net profit fell 7.4% to Rs. 2.75 crore on 28% fall in total income to Rs. 3.98 crore in Q1 June 2011 over Q1 June 2010 […]
Global buyout funds, including Apax Partners and few more major strategic global players are looking at investing around $200 million to wrest control of Bangalore-based FirePro Systems. FirePro Systems, with a topline of Rs 700 crore is among the established players offering integrated solutions for fire protection, security and building management systems. According to investment bankers close to FirePro Systems, there has been immense interest and the buyout funds and strategic players are keen to take control of the company which is growing at a healthy pace. The company is looking to touch a topline of Rs 1,000 crore during the ongoing fiscal and has an impressive list of clients across various parts of the globe. […]
Looking to expand its global footprint and boost sales, Gitanjali Gems will acquire a Chinese manufacturing unit and jewelry retail firm by year end. Gitanjali, India’s largest jewelry retailer retails diamond jewelry under the brands Gili, Nakshatra, Asmi and D’Damas. It recently acquired four Italian jewelry brands from Dubai’s Damas International. Gitanjali plans to open a few more stores in the Middle East by March 2012. In India, the company plans to invest Rs 2 billion to add 350 to 400 stores across various retail formats in the current fiscal year. In FY ’11 it opened 300 stores in the country and has added four new Indian diamond jewelry brands to its kitty. […]
Omnivore Capital, an early stage venture capital fund backed by Godrej Agrovet Ltd, has made its first investment by buying a 33% stake in weather forecaster Skymet for an undisclosed amount. “We believe that improved meteorology is one of the best tools to reduce risk in agriculture,” said Mark Kahn, executive vice-president for strategy and business development at Godrej Agrovet and venture partner, Omnivore. “In India, the difference in productivity between the best and the worst farms is very high. Superior forecasts can reduce the level of crop failure and help close that productivity gap.” Omnivore, in which Godrej Agrovet—the diversified agribusiness arm of the Godrej group—is the anchor investor, focuses only on investments in the agriculture technology area. […]
Travel firm MakeMyTrip today said it would, along with its largest share holder SAIF Partners, pick up 76.6% stake for $18.5 million in Le Travenues Technology, which operates online travel search engine www.Ixigo.Com. MakeMyTrip will pick up 19.9% stake in Le Travenues for $4.8 million, private equity firm SAIF Partners will invest $13.7 million for 56.7% in the company, MakeMyTrip said in a statement. “We expect to complete this share acquisition in August 2011. We believe this investment has synergies with and benefits our online travel business,” the company said. The share purchase agreement with Gurgaon-based Le Travenues Technology was entered into on July 4, 2011. […]
British telecom major Vodafone today said Piramal Healthcare would buy 5.5 per cent stake in Indian joint venture Vodafone-Essar for about 640 million (nearly Rs 2,900 crore). Piramal Healthcare would purchase 5.5 per cent of the “issued equity share capital of Vodafone Essar Ltd (VEL) from ETHL Communications Holding Ltd (Essar) for a cash consideration of approximately USD 640 million,” Vodafone said in a statement. A Piramal Healthcare spokesperson when contacted declined to comment. The latest Vodafone announcement comes more than a month after it reached settlement with Essar over the latter's 33 per cent in the joint venture. […]
After failure of Singh brothers in taking over Singapore-based Parkway, Fortis Healthcare International, a family outfit of Malvinder Mohan Singh and Shivinder Mohan Singh, announced sixth investment in eight months in its quest to become a leading integrated healthcare provider in Asia Pacific region. On Wednesday, the company announced 65 per cent stake purchase in Vietnam's Hoan My Medical Corporation for $64 million (Rs 288 crore). The Hoan My Hospitals acquisition provides Fortis with access to Indo-China region where healthcare services sector offers significant growth opportunities. In last eight months, Fortis Healthcare International has acquired the largest private primary care company in Hong Kong (Quality Healthcare Asia), the largest dental care company in Australia (Dental), a specialty hospital project in Singapore (under-construction) and a strategic stake in an existing hospital in Sri Lanka (Lanka Hospitals). […]
Rolta India Ltd on Monday said it has acquired ACLS Systems, FZC, a public system and emergency response software company, through a complete asset purchase. The acquisition includes purchasing the full portfolio of ACLS Systems’ software technology, including source code, design documentation, intellectual property rights and worldwide sales and marketing rights, Rolta said in a statement to the exchange. […]
Acclaimed director Priyadarshan Saturday said he is padding up to acquire a stake in the newly formed Indian Premier League (IPL) team Kochi Tuskers Kerala. “I am interested in this team and to that extend, we are having a business meeting to take forward our interest in acquiring stake in Kochi Tuskers. The first meeting is to take place in Mumbai on the 22nd of this month,” Priyadarshan told IANS Priyadarshan, who is in the city as the newly appointed chairman of the Kerala State Chalachitra Academy (Motion Picture Academy of the Kerala State), added: “It is basically my friends who are not in the film industry. Yes, we are serious in this, but then it depends on things like what is going to be the money involved and also the returns associated with it.” Cricket has been a passion for him since childhood, he says. […]
Former McKinsey chief Rajat Gupta has bailed out of the controversial shareholding in Tamilnad Mercantile Bank (TMB) after offloading shares to European family office Liberties Strategic Services, said people directly familiar with the matter. Gupta no longer holds 4.9% stake, which he held through an escrow account in Mauritius, and has exited the investment at a premium.It is not clear whether this stake sale will clear Gupta's name from investigations into purchase of C Sivasankaran's 33% TMB stake by a group of 18 investors—both foreign and domestic—four years ago. This share sale, like his stake buy in the country's oldest private sector bank, has no approval from Reserve Bank of India (RBI). […]
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