Baring Private Equity Partners India, has bought a minority stake in Cethar Vessels, India’s Trichy-based second largest manufacturer of thermal power boilers, for around Rs 405 crore ($90 million). The second largest investment by Baring in India will be used by Cethar Vessels for setting up facilities to manufacture steam turbine and generator, acquiring land for developing power plants and enhancing the manufacturing capabilities for super critical boilers. IDFC Capital was the adviser for this private equity transaction. Karthik Ranganathan, partner, Baring India, told Financial Chronicle, “Given the current demand supply mismatch, we see tremendous growth opportunity in the sector. Besides, Cethar as a company has strong potential to grow further. We plan to stay invested for a long-term period as we invest for at least 5-7 years in power sector.” “If the opportunity arises we would like to buy further stake in the company,” Ranganathan said. […]

Siesta Logistics Corporation Limited, a leading Integrated Logistics Service Provider and a part of the diversified Siesta Group, today announced that it had raised $10 million in private equity from Ashmore Alchemy India, a joint venture between Alchemy Partners LLP and Ashmore Investments (UK). Siesta Logistics began its operation in 2007 and is India’s only truly Integrated Logistics Service Provider with the capability to serve clients with a portfolio of customized solutions in the areas of transportation, freight forwarding, port and cargo services, Odd Dimension Cargo, Freight Forwarding, Customer House Agent, Warehouse Management Services, STPI and related services, 4PL and Consulting services. A professional, knowledge-rich enterprise, SLCL delivers customised solutions to create value and offer expertise-based consultancy services across the supply chain requirements of its customers. […]

Om Pizza and Eats Private Limited, promoted by Bahrain-based Jawad Business Group (JBG) has received a fund of Rs 50 crore from the Chennai based TVS Shriram Growth Fund, confirms a company official. The company holds local franchise rights for multiple international brands like Papa John’s Pizza, Chill’s Grill & Bar and the Great Kebab Factory. Om Pizza is looking at utilising this fund for expansion and planning to tap tier II and III cities for the launch of 200 plus outlets over the next four years. Presently, Om Pizza is operating through 28 restaurants across various cities of the nation. […]

Rakesh Jhunjhunwala, the billionaire investor known for identifying good companies at start-up stages, has taken up a 30 per cent plus stake in Pune-based Krayon Pictures, co-founded by Kishor Patil, who is also CEO and managing director of KPIT Cummins Infosystems. Krayon Pictures aims at emerging as India’s answer to Walt Disney’s Pixar Animation studios. Jhunjhunwala, termed as India’s Warren Buffet by the Forbes magazine, was also an early investor in KPIT Cummins Infosystems, a Pune-based niche IT firm that is a specialist in the auto sector. “Myself, family and associates hold around 50 per cent of the company while a significant portion is held by other co-founders and is reserved for stock options too. KPIT was Jhunjhunwala’s first unlisted investment and one, which he kept for 10 years. We have had a close interaction since and he, too, has acquired a stake in this venture,” Patil told Financial Chronicle. When contacted, Jhunjhunwala said he was busy and would speak later. […]

Standard Chartered Private Equity (SCPE) is in talks to invest Rs 300 crore in Hyderabadbased infrastructure solutions provider Indu Projects, picking up around 10%, said sources. The deal may involve SCPE acquiring the stake of some existing founder investors as well as infusing fresh capital into the company, they added. A substantial part of transaction value would go towards taking out some of the existing investors. When contacted, Indu Projects CFO Mahender Basani refused to comment saying that nothing had been finalized yet. “We won't be able to comment on anything at this point of time. There is nothing that is final till it is final ,” he added […]