|
|
Mortgage loans lender LIC Housing Finance (LICHF) is likely to finalise a partner for its real estate venture capital fund by the end of this month, a top company official said. LICHF is launching a Rs 500-crore real estate venture capital fund and has been scouting for a domestic partner. The fund is slated to be launched by end-September. “The Board Committee on the venture capital fund is likely to decide the final partner by the end of this month,'' LIC Housing Finance Director and Chief Executive Mr R R Nair told PTI here. […]
The Foreign Investment Promotion Board, or FIPB, has approved Bangalore-based Forum Synergies PE Fund Managers’ proposal to get Rs 651 crore investment from Mauritius-based India Knowledge Manufacturing Company (IKMC). The board had rejected it twice in the past. This time, it has cleared it with the condition that IKMC will accept neither money nor equity from a source within India — be it a company or a resident. The proposal will now be put up to the Cabinet Committee of Economic Affairs, or CCEA, for approval, as all proposals are if they involve foreign direct investment of more than Rs 600 crore. […]
The government plans to launch a venture fund to promote green technology research. The size of the fund and other specifics will be determined by the National Mission on Strategic Knowledge for Climate Change (NMSKCC). The initiative is separate from a government plan launched in 2007 to subsidize new companies to manufacture photovoltaic cells and panels. NMSKCC, which is in the process of preparing a mission document with milestones for promoting green technologies, said it will identify key institutes that will be designated as centers of excellence in climate research. […]
Private equity funds seem to be hot with business houses and the latest to float one is the diversified Mahindra & Mahindra (M&M) group. The group has formed an in-house private equity fund, Mahindra Partners, which will be the group's growth driver in the future according to Anand Mahindra, vice-chairman and managing director of M&M. […]
Tata Capital, the financial services arm of the Tata group, is likely to come out with a private equity fund shortly. This was announced by Tata Capital managing director Praveen P. Kadle on Tuesday. Kadle declined to say what could be the size of the private equity fund, but according to early indications, the fund-size will initially be of $350-400 million. Tata Capital has an Rs8,500 crore alliance with the Japanese Mizuho Financial Group. Kadle said the alliance with Mizuho provided the right platform for Indian corporates to tap the Japanese market. He said Japan offered tremendous opportunities for Indian companies to raise capital through equity as well as debt. […]
SREI Infrastructure Finance Ltd is working on putting together a private equity fund, with a corpus of “hundreds of millions of dollars,” that would be utilised to provide equity and debt to infrastructure projects in India, Saud Siddique, Joint Managing Director, SREI Infrastructure, told Business Line on Friday. “We are working on it. We are talking to investors who understand SREI's business,” he said. Siddique, who joined SREI about six months ago, comes with a rich experience in handling infrastructure projects in the US and Singapore. […]
DHFL Venture Capital Pvt. Ltd, a subsidiary of Dewan Housing Finance Corp. Ltd (DHFL)—India’s third largest home finance company—will partner US-based Redwood Capital Partners Llc. to float a private equity (PE) fund that will invest in logistics and warehousing companies, a senior company official said. “We had discussions with Redwood for over a year and have now decided to start a PE fund with equal participation,” Arun Goel, CEO of DHFL Venture Capital, said. The venture capital firm currently manages a $47 million (Rs224 crore) fund that invests in property. “…the market is turning around and we plan to raise money in a couple of months,” he said. Goel declined to indicate the initial size of the proposed PE fund, but DHFL chairman and managing director Kapil Wadhawan said he planned to “scale up the fund to Rs3,000 crore in three-five years”. […]
The founding partners of Baring Private Equity Partners India — Rahul Bhasin and Subbu Subramaniam — have decided to part ways, the Economic Times reported on Wednesday. Bhasin and Subramaniam have split due to differences over many issues, the paper said. Bhasin is expected to buy out the stake owned by Subramaniam, who plans to launch another fund, the paper said. However, the settlement process is subject to arbitration as the partners could not reach an amicable settlement, it added. “Our separation process in under arbitration with respect to the valuation of our respective stakes in the company,” the paper quoted Subramaniam as saying. […]
For private equity (PE) arms of big Indian corporations, fund-raising, such as charity, seems to be beginning at home. The Reliance-Anil Dhirubhai Ambani Group (R-Adag) will invest Rs400 crore in a PE fund being floated by group company Reliance Capital Ltd. This will include a contribution from R-Adag chairman Anil Ambani, a senior official of the group said. Similarly, Aditya Birla Group chairman Kumar Mangalam Birla will invest around Rs300 crore in the group’s PE fund. The R-Adag PE fund may raise Rs2,000 crore while the Aditya Birla Group’s PE fund will have a corpus of about Rs1,500 crore. […]
Large Indian banks and financial institutions such as State Bank of India (SBI), Life Insurance Corporation (LIC), General Insurance Corporation (GIC), Bank of Baroda (BoB) and IDBI Bank have helped Reliance Equity Advisors, which is of the Anil Dhirubhai Ambani Group, mop up around Rs 1,500 crore. While this has been tied up in less than three months, the company is expecting to raise another Rs 500 crore over the next two weeks, Reliance Equity Advisors Chief Executive Officer Ramesh Venkat told Business Standard in an interview. He, however, did not disclose the investors. Although the company has not announced a closure date, Venkat is confident of achieving the target. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|