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Bangalore-based real estate company Century Real Estate is planning to raise close to $50 million from private equity players to fund its Rs 900 crore project in the city. The project, coming up in northern Bangalore, will be spread over 20 acres. Industry sources said, the property would come up on an area of 3 million sq ft with a mix of commercial and residential segments. However, the time frame for this fund raising activity is not clear with the structure of the proposed deal. […] Gold loan company, Muthoot Finance, has raised Rs 157 crore by issuing shares to the extent of 4% of the firm’s capital to private equity firms Baring Equity Partners India and Matrix partners India. Both the private equity firms now have a 2% stake each in the company, which is valued at $1 billion in terms of the present deal, said KP Padmakumar, executive director of Muthoot Finance. The capital has been raised for meeting capital adequacy and business growth. Following the infusion of fresh capital, the company’s capital adequacy ratio has improved to 17%. Muthoot’s assets grew by Rs 2,000 crore from Rs 8,000 crore in the first quarter and is expected to touch the Rs 15,000-crore mark by FY11. The NBFC eventually plans to go public. […] Three-year horizon; sequel to Rs 1,350-cr investment in Tata Power. Olympus Capital, the Asia-focused private equity (PE) fund, is exploring more strategic investment deals with Tata Power and infrastructure supply chain companies. This follows its Rs 1,350-crore deal a month ago in which it bought 15 per cent in two Tata Power-promoted companies which own coal mines in Indonesia. The Hong Kong-based firm, with $1.3 billion under management, will invest about $600 million (Rs 2,800 crore) in India in big and established companies in infrastructure supply chain management. In mind were boilers and turbine makers, balance of plant and engineering, procurement and construction companies, besides environmental-friendly technology, agriculture and food processing, information technology and business process outsourcing companies within the next two to three years, Daniel R Mintz, founding managing director of Olympus Capital, told Business Standard. […] Attracted by the rapidly-growing Indian demand for new kinds of packaging in food products, Rabo Equity Advisors, the private equity arm of Rabobank, has agreed to pick up 20% stake in Agra-based integrated packaging company Vacmet India. The PE firm, through its Indian Agri Business Fund and Real Trust, will invest Rs 50 crore. “We are excited about packaging because demand is growing in India for new and innovative technology to help companies extend the shelf life of their food products. The cost of packaging contributes more than 10% of a food product’s MRP. So this investment is in line with our overall focus on the food sector. We will assist Vacmet in sourcing latest technology in the world,” said Rajesh Srivastava, managing director, Rabo Equity Advisors. […] Logistics firm AFL is likely to get at least Rs.100 crore from a U.S. private equity (PE) firm for a minority stake. The money will be used by firm, promoted by Cyrus Guzder to build warehouses and distribution infrastructure, reports P.R. Sanjai and Shraddha Nair of Mint. According to industry analysts, with inflow of cash and management expertise from a PE firm, AFL could elevate its third-party logistics (3PL) infrastructure, including warehouses, fleet and IT systems. The logistics industry, which is estimated to contribute around 13 percent of gross domestic product, is divided into ocean freight, air freight, rail freight, trucking and 3PL services. According to Sunil Devrani, Managing Director of Direct Logistics India, logistics is a business that has a high working-capital and low-margin with no huge reserves for further expansion in most of the cases. […] Entertainment Network (India) Ltd said on Friday its board has approved selling its entire stake in Times Innovative Media Ltd to Bennett, Coleman & Co Ltd for Rs 450 million.(Economic Times) […] Norwest Venture Partners (NVP) has invested $7.2 million in Chennai-based Perfint Healthcare, a medical equipment firm set up in 2005. This is the first healthcare investment in India for the global venture and growth equity investment firm that manages over $ 3.7 billion capital. Perfint is a technology product company founded by entrepreneurs — S Nandakumar, CEO, K Guruswamy, sales director, and K Puhazhendi, new product development director. The trio, with decade-plus experience in GE, started it with initial funding from IDG Ventures and Accel Partners. IDG Ventures is a $150-million VC fund while Accel manages $6 billion funds to incubate entrepreneurs globally. With the latest funding by NVP, Perfint has received $11 million so far. The consumption of equipment and consumables for oncology is $5 billion market, Mr Nandakumar said. Perfint has so far installed 40 of its indigenously-developed Piga CTs (priced at $30,000 for India market) at various locations in the country, including the All India Institute of Medical Sciences, Jaslok Hospital, Lilavati and Sri Ramachandra Medical. […] Private equity (PE) firm CX Partners is close to buying 20% stake in electrical products company NTL Electronics India for around Rs 120 crore, said two persons familiar with the matter. Promoted by Arun and Praveen Gupta, NTL Electronics manufactures electronic ballasts used to make energy-efficient CFLs. The Noida-based privately held firm supplies to companies such as Osram, Philips, Surya Roshni, Crompton Greaves among others. When contacted CX Partners’ chief Ajay Relan declined to comment on the development. NTL Electronics managing director Arun Gupta confirmed the firm is raising money from CX Partners but declined to divulge details of the transaction. “We will use the funds to expand our existing production facilities and R&D capabilities besides financing plans to foray into another energy-efficient lighting range of LEDs,” he said. The company plans to launch the initial public offer by 2013, Mr Gupta said. […] Venture capital fund Norwest Venture Partners, Accel Partners and IDG Ventures have invested $7.2 million in Chennai-based medical technology company, Perfint Healthcare. While a large share of the investment has come from the $3.7-billion Norwest, this is the second round of funding for both IDG and Accel. They had invested $3.5 million in Perfint four years ago, when it was just a startup. Perfint, an emerging company in the interventional oncology space, is the maker of PIGA CT, an image-guided minimal invasive diagnostic equipment. The equipment assists biopsy, drug delivery and ablation of small tumours. Perfint has made 40 installations within a year of its launch in healthcare institutions, including All India Institute of Medical Sciences, Jaslok Hospital, Mumbai, and Sri Ramachandra Medical College in Chennai. With the second round of funding, the company will scale up its operations by launching the product in West Asia, southeast Asia, eastern Europe and Latin America this year, said S Nandakumar, CEO of Perfint. […] Inmobi, a mobile advertising network company, on Tuesday raised $8 million venture capital funding from global investors Kleiner Perkins Caufield & Byers and Sherpalo Ventures. The firms had earlier also invested in the Bangalore-based start-up, which now has a total $15.6 million in venture capital funding. The company is expected to use these funds to accelerate growth in markets such as the USA, Europe and Japan, as well as to double its engineering staff. India-based start-ups are emerging as front-runners in the global digital advertising industry. “These cross-border digital advertising firms from India are focusing on developed markets and are using India as a lower-cost back-end for their technology operations,” said Arun Natarajan, CEO, Venture Intelligence. Typically investors such as Sherpalo and KPCB are investing in digital advertising start-ups that are building technology in India. […] |