3i India Infrastructure Fund, an investment fund is investing around $45 million (around Rs 200 crore) for a minority stake in Ind-Barath Energy (Uktal), a subsidiary of Ind-Barath Power Infra (IBPIL). Utkal is building a 700 MW (two units of 350 MW each) coal fired power plant based in Orissa. This is the second deal by 3i in this month. Earlier this month the fund invested $111.51 million in KMC Infratech, which develops and operates national, state and urban highways and roads. “Utkal is well positioned to take advantage of the demand for power in India which is growing strongly. This investment allows us to partner with IBPIL which is a power generation company with an established track record of delivery,” said Anil Ahuja, Managing Director and Head of 3i Asia. […]

Shriram Capital (SCL), the holding company of all financial services businesses of the Shriram Group, will dilute 15 per cent stake to private equity investor Texas Pacific Group (TPG). TPG, in turn, will invest around Rs 1,800 crore in SCL. The proposed capital is likely to be utilised for the group's proposed foray into various financial and non-financial services and to expand Shriram’s existing businesses. The PE firm is likely to infuse money in SCL over the next 45 to 60 days. According to sources, the money will go into the holding company, 100 per cent owned by Shriram Ownership Trust. This will be the first dilution by SCL to an outside investor. However, TPG is an old partner of Shriram. The PE firm invested in several ventures of the Group companies, including Shriram Transport and Shriram City Union Finance, and is now to become an investor and partner in the holding company. The total value is estimated to be over Rs 5,000 crore in various Shriram Group companies. […]

Underlining the attraction of infrastructure for private equity investors, Baring Private Equity Partners (BPEP) India is set to invest Rs 475 crore ($105 million) in Delhi-based Oriental Structural Engineers, a company specialised in constructing runways and highways. According to sources, Baring PE is likely to acquire around 15-20 per cent stake in Oriental. In December, BPEP India invested $90 million in Cethar Vessels, the second largest manufacturer of boilers for power plants, for a minority stake. BPEP India manages about $1 billion (Rs 4,600 crore) in various portfolio firms. Established three decades earlier, Oriental Structural Engineers (OSE) executed 2,700 lane-km of national and state highways in India and abroad. OSE’s current projects include the Salem-Ulunderpet section of NH-68 in Tamil Nadu, part of the Yamuna Expressway (Taj Expressway), the access road to Delhi International Airport, the Pune-Solapur section of NH-9, the Hungund-Hospet section of NH-13 and four-laning of the Nagpur-Saoner-Betul stretch of NH-69. Overall costs of current projects are around Rs 2,000 crore. […]

Ascendas Property Fund Trustee Pvt Lted, the Trustee-Manager of Ascendas India Trust (“a-iTrust”), has reached agreement with Phoenix Infocity Private Limited (“Phoenix”) to acquire its portfolio of 5 buildings in Hitec City 2 Special Economic Zone, Hyderabad (“the Properties”). Two of the buildings are completed and 100% occupied, while the other 3 buildings are expected to be completed over the next 4 to 5 years. a-iTrust will immediately acquire the two completed buildings, with a total Super Built-up Area1 (“SBA”) of 0.4 million sq ft, for Rs 1,739 million (S$ 50.4 million2). The remaining 3 buildings, with a total SBA of 1.8 million sq ft, will be acquired as and when each building is completed and leased. The pricing of the 3 buildings will be based on the net property income achieved at the time of acquisition, and is presently estimated at Rs 6,808 million (S$ 197.4 million). […]

9X Media (formerly known as INX Media) will be under private equity firm New Silk Route and former Zee Entertainment Enterprises Ltd chief executive officer Pradeep Guha will have a stake, following the nod from the government allowing the company to make an amendment in foreign collaboration. The proposal of 9X Media, after getting deferred twice, has received Foreign Investment Promotion Board (FIPB) approval for New Silk Route (NSR) Mauritius to make an additional investment of Rs 550 million as share capital. This has cleared the road for NSR to up its stake in 9X Media from 20 per cent to 80 per cent while senior employees and Guha will be given equity. The equity infusion by NSR will provide initial investment for the company's expansion plans that include the launch of regional language music channels in Punjabi, Bengali and a multi-lingual south music channel. […]