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Chennai-based eShakti, which makes customized, designer clothes for women, started exports to the US in 2008. It plans to use the money to scale up operations, add new product lines and also cater to Indian consumers. “Over the next six months, we will add accessories—belts, bags, jewellery, which would complement our clothes,” said B.G. Krishnan, founder and chief executive of eShakti.com. The company may look at yet another round of fund-raising next year, he said, but declined to reveal how much stake has been sold to Bangalore-based IDG Ventures. […]
The private equity arm of brokerage CLSA said on Tuesday it has invested $22 million for a minority stake in Indian education specialist Resonance Eduventures, the latest in a string of recent investments from the fund. Indians' obsession with schooling combined with woeful public education and rising incomes means private equity firms like CLSA Capital Partners (CLSACP) are hunting for opportunities in the country's booming but fragmented for-profit education sector. Resonance, founded in 2001, is one of India's largest test preparation coaching institutes, focusing on entrance exams for engineering and medical sciences. […]
The Carlyle group, which manages Rs7.55 lakh crore worth assets globally, has picked up a 9% stake valued at Rs192 crore in brokerage and financial services firm India Infoline (IIFL). The stake was picked up over the last few weeks from the open market, according to a Carlyle spokesperson. The private equity firm would get a seat on the board of the company, said a joint-note on the development. “Carlyle becomes a key institutional shareholder in IIFL and will be invited to join IIFL’s board of directors to support its future development, subject to necessary approvals,” it said. […]
West Asia-based Kitara Capital invested Rs 60 crore to subscribe to equity shares at Rs 327 a share, for a 11.4 per cent shareholding in Vivimed. The proceeds of the investment would finance Vivimed’s ongoing expansion plans for specialty chemicals at its existing locations in Bidar (Karnataka), Hyderabad and Visakhapatnam. In addition, the funds would also be used in setting up of a greenfield project at PydiBhimvaram near Viskakhapatnam and a plant at Choutuppal near here, among others. […]
India's burgeoning renewable energy market was underlined this week after investment bank Goldman Sachs announced that it is to shell out $200m to acquire a majority stake in ReNew Wind Power Pvt. The companies confirmed a deal worth 10bn rupees that will give Goldman Sachs a controlling stake in the Mumbai-based wind farm developer. Sumant Sinha, chairman and chief executive of ReNew, told news agency Bloomberg that the company will invest the money from the sale “on an opportunistic basis” in a wide range of projects. […]
Rakesh Jhunjhunwala and RK Damani have picked up 14% stake in Sterling Holidays in last 2 months; both invested Rs 40 crore each. Management has confirmed the same in its AGM, reports Business Standard. […]
HCC Concessions has concluded its transaction involving a 14.5 per cent stake dilution to global investment firm, the Xander Group, for Rs 240 crore. The company was valued at Rs 1,650 crore. HCC Concessions is a 100 per cent subsidiary of HCC Infrastructure, a wholly-owned subsidiary of Hindustan Construction Company. HCC Concessions designs, finances, builds and operates transport infrastructure. Its portfolio comprises six NHAI projects with expected internal rate of return of 17-25 per cent over the concession period ranging from 18-30 years. […]
Various banks have taken control of Hyderabad-based microfinance firm Trident Microfin by acquiring a majority stake in the firm, leaving promoter and chief executive Kishore Kumar Puli with a stake of only 4.2 per cent. As many as 20 banks, including ICICI Bank, HDFC Bank, Axis Bank, Indian Overseas Bank, Bank of India and Union Bank of India, have together acquired over 60 per cent stake in the microfinance company by converting a part of its debts into equity shares. The remaining stake in the company is held by institutional investors Bellwether Microfinance Fund and India Financial Inclusion Fund. Among the five microfinance firms that opted for a debt recast, Trident is the only micro-lender in which banks have acquired equity stake. The banks converted around Rs 32-crore debts into equity shares, at a price of Rs 10 per share, even though the book value of the company is estimated at around Rs 18.60 per share. The move is part of Trident's plan to restructure Rs 125.5-crore bank debts. […]
nklin Templeton Private Equity Strategy (FTPES) said it has invested INR 45 Crore in Symbiotec Pharmalab. FTPES, a private equity portfolio managed by Franklin Templeton Asset Management India, was advised by Darby Asia Investors India, a private equity affiliate within Franklin Templeton Investments Group, while Systematix Capital Services was the exclusive advisor to Symbiotec for this transaction, a release from the company said. However, transaction details were not disclosed. “The domestic healthcare industry is expected to grow strongly helped by increased domestic demand and growing export potential. Higher per capita spending and greater health insurance penetration, along with increased outsourcing by global pharma companies augur well for companies such as Symbiotec Pharmalab,” Franklin Templeton India President Harshendu Bindal said. […]
Bangalore-based Ujjivan Financial Services, provider of a holistic range of services to poor working women in urban and semi-urban areas, plans to raise Rs 100 crore through fresh equity infusion by the end of this year. The existing investors may also participate in this round of funding. Last week, the company got approval from state-run Syndicate Bank for Rs 25 crore in funding this month. The private equity investors in the company include Unitus Equity Fund, Sequoia Capital, Lok Capital, Bellwether Microfinance Fund, Michael & Susan Dell Foundation, A.W.Holdings, Elevar Equity, India Financial Inclusion Fund and SIDBI. […]
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