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Experian is the second credit bureau in the country to confirm conditions after Credit Information Bureau of India. Seven financial institutions, including Punjab National Bank (PNB), Union Bank of India and Axis Bank have picked up stake in the newly-formed credit bureau, Experian Credit Information Company of India. Experian is the second credit bureau to confirm conditions after Credit Information Bureau (India) (CIBIL), which is the only functional credit bureau at present. Experian said it would now apply to the Reserve Bank of India (RBI) for a final license and commence operations within six months of receiving it. […]
California Software Ltd (Calsoft), having major operations in the US and Chennai, has divested its entire 51% stake in education-based IT solutions company Informed Decisions Corporation (IDC) through the wholly-owned former's subsidiary CSWL for $36 million. US-based private equity firm, Higher One has bought Calsoft stake in the transaction, according to a release from Calsoft. […]
Standard Chartered Plc said Thursday it invested INR500 million in Indian agri-input and fine chemicals company PI Industries Ltd, through its units including Standard Chartered Private Equity. “Both the domestic agri-inputs space and the Contract Research and Manufacturing Services sector offer solid prospects for Indian companies,” Rahul Raisurana, Managing Director, Standard Chartered Private Equity said in a statement. The investment is in the form of convertible preference shares and debentures, Standard Chartered said. […]
Chennai headquartered TVS Capital has bought a 25% stake in Tata-owned bookstore chain Landmark, report CNBC-TV18’s Divya Rajagopal and Komal Chowdhary. TVS Capital's private equity arm TVS Shriram has opened its cheque book and bought a 25% stake in Trent-owned bookstore chain Landmark for Rs 65 crore. This is the fund's first big deal and its second since its inception two years ago. Gopal Srinivasan, Chairman, TVS Capital Fund, says, ”From the beginning our approach has been that we have been very focused on our core thesis, which is to do, consumer driven opportunity and specialty retail was one area we looked at. We always focused on that as it represents the new India, modern large format retailing, very specialized in books and gifts.” […]
Blackstone Group LP, the world’s largest private-equity company, acquired a stake in an Indian rail freight mover to tap increased movement of goods as growth in Asia’s third-largest economy accelerates. Blackstone GPV Capital Partners (Mauritius) V-H Ltd. will spend 3 billion rupees ($64 million) to buy a 37.5 percent stake in Gateway Rail Freight Ltd., a unit of Gateway Distriparks Ltd., an Indian shipping-logistics provider, according to a statement sent by Gateway Distriparks to the Bombay Stock Exchange. Blackstone and Warren Buffett’s Berkshire Hathaway Inc. are investing in rail freight providers as railroads become more competitive amid rising fuel prices. Blackstone’s latest purchase is the leveraged buyout fund’s second announced investment in an Indian logistic company in two months. […]
Motilal Oswal Private Equity Advisors and Beacon India Private Equity Fund are close to picking up around 15% stake in the Delhi-based CK Jaipuria Group, one of the bottling companies for PepsiCo’s products in India, said two persons familiar with the matter. The first person, a senior executive in the PE industry, said the two firms are collectively looking to infuse about Rs 100-125 crore. This puts the valuation of the company at Rs 650-850 crore. Investments by the two firms separately could not be ascertained. When contacted by ET, CK Jaipuria, the CMD of the bottling company, declined comment. […]
Henderson Equity Partners, the private equity operation of asset management firm Henderson Global Investors, has invested $17m in Genesis Colors, an Indian fashion house. Established in 2001, Genesis designs, manufactures and sells luxury apparel under the Satya Paul brand. The company also has distribution rights in India for several international luxury brands, including Canali, Kenzo, Aigner, Paul Smith, Jimmy Choo, Just Cavalli and Bottega Veneta. […]
Apalya Technologies, a Hyderabad based company providing India’s No.1 Mobile Video platform, announced funding of US$ 3 million from IDG Ventures India and Qualcomm Ventures. Consort Capital, a premier Mumbai-based investment bank, was the advisor for the deal. Mumbai Angels, a leading angel investment group, along with some other angel investors, are also stakeholders in the Company. Apalya Technologies has pioneered and emerged as a leader in developing and enabling Mobile Video Delivery Platform that seamlessly streams video content to Mobile Consumers. It aggregates premium entertainment content from many different content providers, content aggregators and mobile advertisers and then delivers the same on Mobiles optimizing the content to be suitable for viewing on small-screens. […]
The Infrastructure Development Finance Company (IDFC) and the IDFC Project Equity Company, which manages the India Infrastructure Fund (IIF), have taken a 20 per cent equity stake in GMR Kamalanga Energy, a special purpose vehicle (SPV) set up by Indian infrastructure developer GMR Group to implement a thermal power plant. IIF is to hold 15 per cent of the SPV, while IDFC will take five per cent. The goal of the Kamalanga project is to install a 1,0505MW coal-powered thermal power plant in the Dhenkanal District, Orissa, at an estimated cost of INR45.4bn ($978.7m). The project has a dedicated coal allotment and secure fuel linkage, and already has a large portion of its output allocated to various long-term power purchase agreements, according to IDFC. […]
Eka Software Solutions, a multi-commodity trade and risk management solutions provider, has received a funding commitment of US $10 mn from Nexus Venture Partners. The startup had earlier been seed funded by the GP Group, a conglomerate with interests across shipping, manufacturing, real estate development and hospitality. “Eka is very well positioned to take advantage of the growing need for commodity trade and risk management software. Our products, technology and team are highly regarded in the market, and the rapid expansion in our customer base is testimony to this. The new funding will allow us to further enhance our technical, support and sales capabilities, and help capitalize on current opportunities to accelerate our growth,“ said Manav Garg, founder & CEO, Eka Solutions. […]
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