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The International Finance Corporation (IFC) which is a part of World Bank group, is planning to acquire 20 per cent shareholding in Swadhaar FinServe (SPFL) with an equity investment of Rs 10.5 crore(US$2.25 million approximately). Swadhar Finservie an urban microfinance institution based operating in Mumbai and it’s surroundings and has 27 outlets in Mumbai, Baroda and Pune and plans to expand its operations to Rajasthan and Central India.The word “swadhaar” in Hindi means self-support. […] Foreign fund house Goldman Sachs Investment Partners Mauritius today picked up 6 per cent stake in the leading low-cost airline SpiceJet by converting the 1.5-crore warrants it has purchased from the airline in December 2008 into equity. The airline has allotted 1.53 crore shares, representing 6 per cent stake, of Rs 10 each at a premium of Rs 29.46 per equity to GS Investment Partners Mauritius consequent upon conversion of same number of warrants earlier issued to them on preferential basis, SpiceJet said in a filing to the Bombay Stock Exchange (BSE). In December 2008, SpiceJet had issued 1.53 crore warrants to Goldman Sachs Investment Mauritius with a lock-in period up to December 11, 2009. […] Global private equity firm Carlyle Group today said it has invested $140 million (over Rs 650 crore) for equity stake in four Asian companies, including India's Tirumala Milk Products. The US-based PE major released a statement announcing the closure of four growth capital investments across Asia, including South India's second-largest private dairy player Tirumala Milk Products, China's largest ATM deployer ATMU Inc and two Korean companies, HKucar Global Co and EO Technics. Commenting on the investment, Wayne Tsou, managing director and head of CAGP said: “It reflects the proven abilities of our seasoned local investment professionals in each of the focused markets to seize attractive investment opportunities.” […] GMR Infrastructure said on Thursday a private equity fund, IDFC Private Equity Fund III, and four other investors have agreed to invest Rs 465 crore (USD 99.63 million) in its unit, GMR Energy. Infrastructure Development Finance Company, IDFC Investment Advisors Ltd Argonaut Ventures and Ascent Capital Advisors India Pvt Ltd are the other investors in the power utility, GMR Infrastructure said in an exchange filing. On 19 April, group chief financial officer, Subbarao Amarthaluru, told Reuters that the group wants to raise additional USD 100 million in private equity for its unlisted power unit in about one and half months. […] The Carlyle Group, a global alternative asset manager with $88.6 billion of assets under management, has invested $22 million (approximately Rs 102 crore) in Andhra Pradesh-based dairy company Tirumala Milk Products Private Limited. The funds will be used for expanding its procurement network, processing capacity, entry into new markets and for the manufacture of new value-added products. This investment into Tirumala, which has an installed capacity of 1.35-million litres per day across five processing plants, comes from Carlyle Asia Growth Partners IV (CAGP IV), a $1.04-billion fund. Carlyle has already made five investments in India from the previous fund, Carlyle Asia Growth Partners III (CAGP III). […] The existing private equity partners of Apollo Hospitals, such as Apax Partners, Bisikan Bayu Investments (Mauritius), an investment arm of Khazanah, and Clsa (Mauritius), are likely to pick up stakes in Apollo Pharmacy, the retail pharmacy business of Apollo Hospitals, as the parent is seriously looking at hiving it off into a separate entity. Similarly, Apollo Hospitals would also look for partners for its nursing training business, Apollo School of Nursing, to unlock the value of each business entity of the group, sources close to the development said. Apollo Hospitals, which has been scouting for investors over the last few years for its retail pharmacy business, is expected to get strong support from the existing PEs, as a sizeable chunk of the 1,050 stores showed encouraging Ebitda margins during the last financial year. The rest of the outlets are expected to follow suit in coming months, sources pointed out. […] Private equity firm SAIF Partners is in advanced talks to buy around 30% stake in Delhi-based kidswear retail chain Catmoss for Rs 70 crore, a person familiar with the matter said. The fund will help the apparel maker expand across the country. Catmoss runs around 150 exclusive brand outlets besides contributing to large format stores and multi-brand outlets. While an email sent to Catmoss did not elicit any response, senior executives of SAIF Partners declined to comment on the proposed transaction. Established in early 2000, Catmoss clocked net profit of around Rs 7.5 crore with revenues of Rs 130 crore. […] Private equity investor Actis is set to acquire a stake in infrastructure major GVK’s power business for about INR 1,000 crore. As per report the deal was close to being finalized and would be done over the next six to eight weeks two sources involved in finalizing the deal. A person involved with the negotiations said that the UK based PE fund could invest in the Hyderabad headquartered company through its USD 750 million Emerging Markets Fund with infrastructure in focus. Actis which focuses on emerging markets had earlier talked about India having the highest share in its USD 2.9 billion global fund. Mr JM Trivedi Partner and Head for Actis South Asia said that for Indicating a build up in deals in the pipeline the share of the company’s investment in India could go as high as USD 1.2 billion. […] In what would be the second-biggest private equity investment in the Indian life sciences sector in the last 12 months, global PE firm Kohlberg Kravis Roberts & Co (KKR) is close to investing nearly $50 million (around Rs 225 crore) in Pune-based Emcure Pharmaceuticals, said industry sources. The biggest PE deal in the segment recently was New Silk Route’s $55 million (Rs 248 crore) investment in Chandigarh-based Nectar Life Sciences this February. The Emcure and Nectar deals signal the recovery of PE investments in the Indian life sciences sector, which had hit a low in FY2009 following the global financial crisis. According to sources, KKR and PE giant Blackstone had been talking to Emcure for some time now, but KKR is the front-runner now. As on December 31, 2009, KKR has $52.2 billion (Rs 2,34,900 crore) in assets under management worldwide. […] Within three years of its launch, home-grown INX Media—launched by Indrani Mukerjea and ex-Star India CEO Peter Mukerjea—will become a foreign-owned entity. Mauritius-based private equity firm New Silk Route (NSR) is set to scale up its stake in the loss making INX Media from the current 20% to 80% by buying out stakes of some of the existing foreign and domestic investors. Going forward, NSE Mauritius will also fund the expansion of INX Media that is going to launch nine new television channels under the 9X brand. INX has been amidst a financial restructuring since last 10-12 months as a result it divested 9X to Zee Tele Films last month. In order to resurrect INX Media, NSR has not only agreed to infuse Rs 55 crore but will also pump in more money as per the business needs of the company. NSE Mauritius has taken upon itself to weave the turnaround of INX Media, sources said. Upto 100% foreign investment is permitted in the non-news channels. […] |