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Bangalore-based Vaatsalya Healthcare Solutions has raised $10 million in its third round of PE funding from Singapore-based Aquarius India Fund and its existing investor Seedfund. Narasappa, Doraswamy & Raja advised Aquarius with a team led by Partner Siddharth Raja along with Senior Associate Ashwini Vittalachar and Associate Yamuna Kumaraswamy. The Bangalore office of ALMT Legal advised both Vaatsalya and Seedfund. Vaatsalya was advised by Partner Dhanya Menon and Seedfund was advised by Senior Associate Mini Raman. […]
Singapore-based Temasek Holdings, Swiss Re and Tata Capital are in talks with financial services firm First Leasing for 27.3% stake, according to agencies. The deal is likely to be announced in a month. According to agency reports, the transaction could be at a substantial premium to the current market price. First Leasing shares closed up 5.45% at Rs 103.5 at the Bombay Stock Exchange in Friday's trade. Based on the closing price the deal is valued at approximately Rs 64 crore. First Leasing, Swiss Re and Temasek were not immediately available for comment. Tata Capital declined to comment. Bid prices were not immediately available, but the sources said the transaction could be at a substantial premium to the current market price. First Leasing provides corporate financing along with consumer credit and fixed deposits. Its clients include Citibank, Johnson & Johnson and Volvo. It reported FY11 revenues worth Rs 177 crore. […]
International Finance Corp. (IFC), a member of the World Bank Group, is investing $4 million in India’s Sapphire Industrial Infrastructures Private Limited to implement the country’s first large-scale grid-connected thin-film solar plant, which will help bolster clean energy locally and provide additional electricity to about 11,000 people. IFC’s investment in Sapphire Industrial Infrastructures, subsidiary of Moser Baer Clean Energy Limited, will support construction of the 5-megawatt solar plant at Sivaganga in Tamil Nadu, a southern state in India. The plant, with a capacity of 8 million units of power a year, is expected to avoid approximately 6,600 metric tons of greenhouse-gas emissions annually. Rajya Ghei, Country Head Solar Farms, Moser Baer Clean Energy Limited, said that as demonstrated through its support, IFC recognizes the potential of large-scale solar-power generation to help meet India’s enormous energy needs. The learning from this project will help the company replicate similar projects in other Indian states, said Ghei. […]
JP Morgan has invested $30 million in Parsvnath Developers' residential project La Tropicana coming up in the Civil Lines area of New Delhi. The deal includes an additional funding for the real estate group through JP Morgan's local NBFC in India. According to a source close to the development, part of the funds raised has been used by Parsvnath to provide an exit to Red Fort Capital, which had invested Rs 115 crore in the project in 2009. Red Fort has made a 30% return on its investment in the project, sources in the know of the deal said. Ernst & Young, which was the advisor to the deal, and JP Morgan did not comment on the deal. Parsvnath did not respond to ET's queries. […]
Exclusively.in, an online portal for Indian fashion, raised its series B funding of $16 million led by Tiger Global Management LLC. The existing investors Accel Partners and Helion Ventures also participated in the funding. The amount raised will be used to fund its international expansion plans and sign exclusive contracts with India's fashion designers. Founded in June 2010, the company raised its first round of venture capital funding of $2.8 million from Accel and Helion in November 2010. The site offers a variety of products including jewelry, handbags, crafts, paintings and wedding attire. Their main target audience is the NRIs and it has been catering solely to the U.S. The site plans to reach one million active, registered members in the next few months. […]
Oman Investment Fund and an anonymous hedge fund have agreed to buy India’s NSE (National Stock Exchange) stakes in the National Commodity & Derivatives Exchange (NCDEX) in a deal that would value NCDEX at 7 billion rupees, said Reuters citing an Economic Times Report. Oman Investment Fund (OIF) is a sovereign wealth fund owned by the Oman government. The report has left the hedge fund unnamed. If the deal is through, then it would mark the entry of a sovereign fund into India's seven-year-old commodity futures market. […]
A unit of Elephant Capital PLC has bought a 4.8% stake in India's Air Works for 2.45 million pounds ($3.96 million). Elephant Capital's investment is through its Mauritius unit, Tusk Investment Fund 1, the provider of aircraft maintenance, repair and overhaul services said in a statement. Air Works will also get another round of investment from the private-equity firm, it said, without elaborating. […]
ICICI Venture has bought a 10% stake in RJ Corp's Devyani International, which runs KFC, Pizza Hut and Costa Coffee chains in India, for about Rs 250 crore, two people familiar with the development said. Ravi Jaipuria, founder of the Rs 3,000-crore RJ Corp, confirmed the investment deal, but declined to comment on its size. “The deal was signed on Wednesday. It will support expansion of our foods business in India and in global markets,” he told ET on Wednesday. […]
Warburg Pincus India Pvt. Ltd has bought a stake in Diligent Power Pvt. Ltd to enable the Dainik Bhaskar Group company to accelerate its plans to construct power plants, the company said in a statement. Diligent Power didn't disclose the investment amount or the stake sold in the statement on Wednesday. Diligent Power is in the process of setting up power projects with a capacity to generate 6,400 megawatts (MW). These power projects include a 1,200MW coal-based thermal power plant in Chhattisgarh and a 1,320MW thermal power plant in Madhya Pradesh. “Diligent Power has planned significant long-term initiatives to capitalize on the huge potential presented by the sector,” R.K. Gupta, chief executive of Diligent Power said in the statement. […]
Private equity firm TA Associates today invested $40 million (Rs 180 crore) to acquire a minority stake in city-based Tega Industries, a mining sector firm. Tega Industries, which clocked a turnover of Rs 650 crore, did not reveal how much stake it parted with but admitted it would be less than 15 per cent. The fund will be used mainly to finance acquisitions, while some money will be spent on expansion of existing plants. “TA Associates’ investment will help us drive Tega to the next level,” Mehul Mohanka, executive director of Tega Industries, said. […]
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