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Hyderabad-based Asmitha Microfin Limited has closed its second round of equity infusion with BlueOrchard Private Equity Fund pumping in Rs 50 crore. Asmitha Microfin Limited, a Hyderabad-based microfinance institution and one of the top five microfinance institutions in India in terms of portfolio size, presently serves over 1.16 million clients with a loan portfolio of about Rs 745 crore ($165 million) as of July 31, 2009. Asmitha has a network of 485 branches across 127 districts in 13 states in India. […]
Private equity fund Red Fort Capital will pick up around 50 per cent stake in a Noida residential project, a source familiar with the development said. The project —Lotus Boulevard, is spread over 40 acres in Sector 100 of Noida and is being developed by the 3C Company. 3C Company has already delivered over 12 million square feet of commercial projects, which includes Wipro’s Gurgaon campus and Patni Computer Systems Noida office. […]
Four private equity (PE) majors — Providence, Carlyle, Bain and StanChart — are in the fray to buy a $225-250 million stake in broadcast network Multi Screen Media (MSM) with a fresh share sale process getting underway, said people familiar with the development. MSM broadcast network includes Hindi general entertainment channel Sony Entertainment Channel (SET), cricket and Hindi movie channel SET Max, SAB and SET Pix. A new investor will get roughly 42% stake in the company as the parent Sony has decided to dilute 10% stake along with Indian promoters who hold 32% and are seeking an exit. Sony will cut its holding to 51% to help MSM raise $60-70 million in capex. MSM’s investment bankers are holding talks with PEs with an expected valuation of over $500 million, a source added. […]
Lightspeed Venture Partners, a leading global venture capital and growth equity firm, has led an investment of Rs.500 million in Itz Cash Card Ltd., India’s largest multi- purpose pre-paid card company, along with existing investors Matrix Partners India and Intel Capital. The investment will be used by ItzCash Card to further expand its product portfolio and diversify its business, including venturing into the retail payments space. With this investment, Mr. Bejul Somaia, Managing Director, Lightspeed Advisory Services India Private Ltd. will be joining the board of Itz Cash Card Ltd.. The amount invested will help ItzCash Card to scale the existing business and tap new products and market segments. […]
Hong Kong-based private equity firm Fung Capital has picked up about 26 per cent stake in Future Group's logistics arm Future Supply Chain Solutions and will pump in $30 million for expanding the firm's supply-chain network. Future Group founder and CEO Kishore Biyani today signed an investment agreement with Fung Capital, the private equity investment arm of the Li & Fung Group, in Hong Kong. “Fung Capital has agreed to invest $30 million in phases, of which $10 million will be injected immediately. They have taken up to 26 per cent stake,” Biyani told PTI over phone from Hong Kong. […]
Future Group on Monday said private equity firm Fung Capital has agreed to invest $30 million in Future Logistics Solutions, its logistics and supply chain unit. The Future Group includes Pantaloon Retail, India's largest listed retailer, and Future Capital Holding , the group's financial arm. Fung Capital is the private equity arm of the controlling shareholders of Li & Fung Group, which had annual revenues of $16.7 billion in 2008. (Reuters) […]
Sabarmati Gas Ltd, a joint venture of Bharat Petroleum and Gujarat State Petroleum Corporation, today said it has concluded a shareholders agreement with four firms for private placement of equity worth over Rs 79 crore.The Gandhinagar-based company signed a shareholders and investment agreement with India Infrastructure Fund, IFCI Venture Capital Funds, UTI Asset Management Company and Indian Infrastructure Development Seed Asset(IIDSA) of Mauritius on July 1, a press release said. […]
Reliance Technology Ventures Ltd (RTVL), the corporate venture capital arm of Reliance ADA Group and Mumbai Angels have invested an undisclosed amount in Hyderabad based Dhama Apparel Innovations Pvt. Ltd. Dhama’s patented technology provides heating / cooling solutions to people living and working in difficult climatic environments. The company’s current line of products includes ClimaGear, a jacket/vest, ClimaNeck, a neck accessory and ClimaMet, an helmet. These products are embedded with ClimaCon technology developed by Dhama. This technology allows the wearer to select the choice of temperature he/she wants to feel, thereby allowing the wearer to adjust to harsh environments without added stress, discomfort, health problems, and reduced productivity. […]
Axis Private Equity, a division of the Indian private bank, has invested INR540m ($11.4m) in Shalivahana Green Energy Limited (SGEL), a renewables company which focuses on the biomass and small hydro power projects. The private equity firm made the investment alongside IL&FS Financial Services, which together have committed INR900m ($18.9m). SGEL has four projects with a combined capacity of 35MW. SGEL will reportedly be able to expand its capacity to 250MW with this fresh capital injection by developing further projects throughout India. […]
Private equity fund Standard Chartered IL&FS Asia Infrastructure Growth Fund has bought a minority stake of less than 5% in Ramky Enviro Engineers Ltd (REEL), a waste management company belonging to the Rs2,500 crore Ramky Group, by investing Rs200 crore. REEL, which posted revenue of around Rs300 crore for the fiscal year ended March, is engaged in industrial, municipal and biomedical waste management, and has 12 subsidiaries across 28 locations in India, West Asia and Singapore. StanChart IL&FS Fund invests in the infrastructure sector, including transportation, energy, power, water, environment, telecom and urban infrastructure. The fund has a primary focus on the rapidly growing Indian market. Hyderabad-based Ramky Group chairman A. Ayodhya Rami Reddy said the waste management company is currently executing some Rs4,000 crore worth of projects over the next 30 months. […]
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