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Cinema Capital Venture Fund (CCVF) has got the FIPB (foreign investment promotion board) nod to bring in Rs 500 million as part of its fund-raising programme to build a corpus of Rs 7.5 billion for supporting financing needs of film companies. CCVF had applied to the FIPB to get approval for a fund inflow in the region between Rs 500 million and Rs 2 billion, says the company's promoter Samir Gupta. The induction of foreign investments will be in units of an Indian venture capital fund scheme, organised as a trust and registered under the Securities and Exchange Board of India (Sebi). “We plan to raise foreign capital only after the general elections,” says Gupta. […]
PTC India, the leading provider of power trading solutions in India, is planning to foray into the private equity (PE) business with an initial investment of more than Rs 5 billion, reports Business Standard. The PE firm will in turn raise funds from other institutional investors, domestic and overseas. The company is considering to raise up to Rs 15 billion via various routes, which will be partly used to start the PE fund. Of this, Rs 12 billion will be raised by PTC via private placement of non convertible debentures (NCDs) and warrants. Another Rs 3 billion will be mopped up by PTC Finance Services (PFS), the financial arm of PTC India.(My Iris) […]
At a time when corporates and private equity firms are either renegotiating on agreed prices for warrant conversion or backing out of such transactions, domestic real estate fund Kotak Realty has converted warrants in Sunteck Realty at the agreed price. With the conversion, Kotak Realty now controls 10% in the real estate firm. “We are bullish on Indian real estate. The fundamentals of many realty companies are still strong. We have converted the warrants at the agreed price,” Kotak Reality Fund CEO S Srinivasan told ET. Kotak Reality converted the warrants at Rs 1,167 per share. On Thursday, Sunteck Realty shares ended down 2.8% at Rs 1,547 on BSE. […]
Tata Capital, financial services arm of Tata Group is mulling to set up its private equity (PE) business by the end of first quarter of the next financial year, reports Economic Times. The funds required for the business would be raised by company along with third-party investments. The company is already in talks with domestic and international players for third-party investments, disclosed company`s managing director and CEO Praveen P Kadle. He also said that the PE firm in its first round would fund around USD 350 million to USD 500 million across all sectors. […]
Mumbai-based firm Aditya Birla Private Equity has started raising its first fund, with a target of $250m.ABPE will commit 20 per cent to the fund, which will focus on investments in Indian companies, whilst the remaining capital will come from domestic and overseas investors. The private equity firm is a new venture for the Aditya Birla Group, which has committed $100m to the new entity to 'launch a series of funds over time'. Bharat Banka, managing director and CEO, Aditya Birla PE, said, 'Aditya Birla Private Equity is not just another fund; it is operated like a business. The focus of this business is to leverage knowledge base and expertise of the team to create winner companies in the unlisted mid-market; it will also look at select investments in listed companies. […]
Tata Capital is banking on its ability to source deals by judiciously exploiting the ecosystem of suppliers and customers of as many as 98 operating companies of the salt-to-steel conglomerate. Its large companies such as Tata Motors have hundreds of suppliers. The group plans to invest about 15 per cent of the first corpus on its own as anchor investment. Tata Capital had earlier announced its plan to raise $400-500 million as its first fund for the PE business. “With a unique opportunity to source deals and capability to evaluate them, we think we can transform the company,” said Bhandari. Apart from the Tata Capital team, the PE business wants to use the expertise of group establishments such as Tata Strategic Management Group, Tata Quality Management Services and Tata Management Training Centre, besides the resources of larger operating companies of the group. […]
Punjab Government would set up a Venture Capital Fund in collaboration with private companies with an intention of providing financial assistance to new ventures in the state. “We are in the process of setting up a venture capital fund in which state as well as private companies will be putting in money to give funds for setting up new projects coming up in the state,” Punjab, Principal Secretary, Industry and Commerce, S.S. Channy said here on Monday. He further stated that the said fund would be managed by the private companies while adding that the government had sought Expression of Interest from the consultants to suggest ways of making it operational. […]
Intel Capital, chipmaker Intel's global investment arm, on Wednesday announced an investment of $23 million in three Indian companies- One97 Communications, IndiaMART.com and Global Talent Track. With these investments, the organisation has spent nearly $100 million of its $250-million Intel Capital India Technology Fund set up in December 2005. Intel Capital is looking at four areas for investments- WiMAX and mobility, clean tech and renewable energy, consumer Internet and education, its India, Japan, Australasia and South East Asia MD Sudheer Kuppam said. […]
Kotak Mahindra Bank's realty arm has raised a $295 million private equity fund from offshore clients that it hopes to invest in Indian property sector in the next 18 months, a top executive said. The Kotak Realty Funds Group, had $800 million across three funds, of which $450 million was available for investment, chief executive S. Sriniwasan told Reuters by telephone on Friday. “We have investors from Korea, Japan, the Middle East, the UK and the U.S.,” Sriniwasan said, adding while there was no dearth of opportunities, pricing remained an issue. “We had a reasonably quite nine months prior to this because there was a mismatch in terms of valuation expectations versus what the investors were asking for. […]
Indian companies, which privately placed shares before their initial public offer (IPO), may get jitters as a group of private equity firms that had invested a little over Rs 600 crore in ACME Tele Power (ATPL) has decided to pull out of their investments in the Gurgaon-based firm. Sources in the investment banking industry said the private equity firms, which invested the money last financial year, have exercised the put option. As a result, the promoters or the company will have to buy back these shares. ATPL, which manufactures and supplies energy conservation solutions for telecom companies, was expected to hit the capital market before March 2008. However, the turmoil in the stock markets prevented the company from entering the market. Through the IPO, the promoters were planning to mop up around Rs 1,200 crore. […]
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