DAR Capital, promoted by non-resident Indian Arun Rangachari, will pick up 26% stake in Valuable Media Ltd (VML) for Rs 100 crore. The DAR Capital Group has already identified the media and entertainment domain as a destination for big investments. It has committed over Rs 650 crore investments on movies and cricket. VML, the Mumbai-based promoters of UFO Moviez, has sought approval of the Foreign Investment Promotion Board (FIPB) to raise Rs 100 crore from DAR Capital. Valuable Media will use the fund to launch—small mall technology (SMT)—a satellite-based digital distribution of films in smaller towns and also to push its consumer box business in India and other markets. […]

Alok Industries, a Mumbai-based vertically integrated textile player, has roped in Asia Bridge as a private equity player for its retail subsidiary – Alok H&A. The deal size is of Rs 45 crore. Alok H&A is engaged in the cash and carry business of apparels and home textiles across the country with its 150 stores at present. The company has drawn up a massive expansion plan with a view to achieve a pan-India footprint and is eyeing 1,000 stores in the next three years. The company, by the end of the current financial year, will take the number of stores to 250. And in FY11, the textile major is aiming to add another 250. […]

New York-based India Equity Partners is set to acquire a 25% stake in IL&FS Education and Technology Services (IETS) for little over Rs 140 crore. IETS is an education and cluster development initiative of Infrastructure Leasing & Financial Service (IL&FS). Two officials, involved in the deal, said on the condition of anonymity, the private equity firm would pick up nearly 20% in secondary sale by the three existing partners and 5% will be acquired through fresh issue of shares by IETS. Orix Corporation of Japan, HDFC and Sera Fund are divesting their entire stake in favour of India Equity Partners, said a senior executive. […]

Singapore state investment firm Temasek Holdings is in talks to buy a stake worth $170 million in GMR Infrastructure Ltd.'s energy unit, a person familiar with the situation said Wednesday. “Temasek is one of around five companies that have shown interest in GMR Energy,” the person, who declined to be named, said. “They've been talking since last year.” GMR Infrastructure, the listed unit of GMR Group, has said in October it is planning to sell a 10% to 15% stake in the energy unit and may offer shares through a private placement and an initial public offering. GMR group Chief Financial Officer A Subba Rao declined to comment on a potential deal with Temasek, saying it is not the company's policy to reveal any details on a deal until it reaches a definitive stage. […]

Minda Industries Ltd has announced that the Board of Directors of the Company at its meeting held on January 11, 2010, inter alia, have approved the fund raising proposal unanimously and recommended for Shareholders' approval at their Extra Ordinary General Meeting to be held on February 03, 2010. The Board approved Preferential Allotment of 1,83,500 (One Lac Eighty Three Thousand Five Hundred), 3% Cumulative Compulsorily Convertible Preference Shares having a face value of Rs. 2187 each, to India Business Excellence Fund I (a Public Limited Life Company, established under the laws of Mauritius) […]