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Private equity fund Lumis Partners has just acquired an undisclosed controlling stake in eastern India’s first 24-hour international call centre, BNK eSolutions. An operating private equity fund with a sharp operational and domain focus, Lumis intends to operate and expand in verticals like healthcare, education, IT training and supply chain management. When contacted, BNK eSolutions president & COO Suresh Menon said: “BNK eSolutions’ parent company BNK Capital Markets has been looking to get access to overseas clients and offload its stake to a strategic partner for sometime now. It has now decided to offload its entire holding of 29,37,025 equity shares of Rs 10 each in BNK eSolutions to Lumis Partners for an undisclosed sum.” […]
The world's biggest private equity firm, Blackstone Group is all set to invest around Rs 240 crore to purchase 10.38% stake in Mumbai-based logistics firm Allcargo Global. Besides, the US-based company has also expressed its intention to buy another 4.61% of the enhanced paid up equity from the open market. Allcargo will issue 1,000 equity shares and 1,081,081 fully and compulsorily convertible debentures (FCCD), convertible into an equal number of equity shares, at Rs 934 each to Blackstone. The company will also issue 1,513,514 warrants, convertible into equal number of equity shares at the choice of the investors from the date of issuance, between Rs 934 and Rs 1,284 per warrant. […]
Bangalore-based Cellworks Group Inc., which also has an office in California, has raised about $8-10 million (Rs41.44-51.80 crore) from a California private equity (PE) investor, details of which will be announced in the next few weeks, says its co-founder and chief executive Taher Abbasi. Still, in a financing environment that is getting more challenging by the day, if an Indian biotechnology start-up raises close to $10 million in private equity it doesn’t necessarily signal an uptick in the biotech fortunes, rather this sets it apart from the rest as many of them begin to look for government money. Abbasi, who has been negotiating this deal for some time, agrees that “investors are not issuing new term sheets and new deals are on hold”. […]
Indian food and agribusiness-focused private equity firm Rabo Equity Advisors has invested INR450m ($8.7m) in Sri Biotech Laboratories India, via its India Agri Business Fund. The company manufactures and markets bio-organic agri inputs which are used for crop nutrition and crop protection. In addition Sri Biotech produces seeds, multi-micronutrients, biologically enriched organic manures and focuses on Integrated Crop Management and sustainable crop approaches. The investment will be used to strengthen in-house R&D focusing seed research, development of new molecules of crop protection and infrastructure. The commitment will represent a significant minority shareholding of the fund, at 28 per cent to 38 per cent over the next two years through a structured mechanism. The fund will also have a proactive association with the company including two seats on the board of directors. […]
Leading private equity player 3i Group today said it has acquired a minority stake in Krishnapatanam Port Company (KPCL) for $161 million. The investment has been done from the $1.2-billion 3i India infrastructure fund, which is managed by 3i’s global infrastructure investment team, a release said. The fund was formed with an aim to invest in major infrastructure projects in the country and has completed investments in three major projects including that of KPCL, it said. […]
Irvine, Calif.-based Waterhealth International is planning to install water purification and disinfection systems for 600 communities across India, funded by a $15 million project finance round from International Finance Corp this week. IFC, a division of the World Bank, has previously invested equity in WaterHealth International to grow the business. But this new cash infusion will allow WaterHealth to quadruple the number of decentralized units up and running in Indian communities, said Tralance Addy, CEO of WaterHealth International. “India has 600,000 villages that would fall into this category where we would want to improve the water conditions,” Addy told the Cleantech Group today. “So 600 is a drop in the bucket.” […]
Nine Rivers Capital, a Mauritius-based private equity firm focused on India-centric opportunities, has invested INR500m ($10m) for a minority stake in Pranav Construction Systems, an Indian formwork engineering company. The funds will be used to set up a manufacturing facility that will see a capacity expansion of nearly 400 per cent, from 9,600 metric tons per annum to 45,600 metric tons per annum; to augment its long-term working capital needs to fuel future growth; and to create rental fleets for the Middle East markets, the firm said. Pranav’s products have been used by its customers in infrastructure projects in India and the Middle East, such as the Delhi Metro, the Mumbai Metro, the Dubai Metro and the New Doha International Airport. […]
Singapore-based River Valley Hydro Ventures is close to picking 75% stake in Secunderabad-based power firm Amritjal Venture for Rs 300 crore. River Valley Ventures is looking to invest in hydro power projects in India and other countries. The deal would value Amritjal Venture at Rs 400 crore. The proceeds of the stake sale will be invested by the Indian firm in setting up hydro power projects in Sikkim, said a person with direct knowledge of the transaction . As per the plan, Amritjal Venture is going to float three special purpose vehicles (SPVs)- Gati Infrastructure, Gati Infrastructure Bhasmey Power and Gati Infrastructure Sada-Mangder Power. These SPVs will inturn set up the proposed power projects. […]
CDC Group plc (“CDC”), the UK government-backed private equity emerging markets fund of funds investor, is making new commitments totalling US$30m to two private equity funds which will invest in microfinance institutions (MFIs). By investing in MFIs the funds aim to give people on low incomes access to a range of financial services, including credit, savings and fund transfers. The commitments are: US$15m to India Financial Inclusion Fund, managed by Caspian Capital Partners. The fund provides growth capital and strategic support to existing and start-up MFIs to help them grow. The fund focuses solely on India, with an emphasis on towns in rural areas with low microfinance penetration. US$15m to Catalyst Microfinance Investors. This fund will invest in a network of highly efficient, rapidly growing greenfield microfinance institutions in countries such as India, Pakistan, Nigeria and Ghana. The fund will aim to help MFIs accelerate their expansion and provide capital to low-income groups and micro-enterprises located in poor communities. […]
MapmyIndia, India's leading digital maps and navigation services provider, today announcedthat Qualcomm Ventures has led a round of strategic investment in the companywith participation from existing investors Kleiner Perkins Caufield Byers, Sherpalo Ventures and Nexus India Capital. The investment will leverage Qualcomm’s worldwide leadership in wirelesstechnologies and MapmyIndia’s leadership in India’s digital maps,location-based services and GPS navigation, to empower the entire telecom,automotive and internet ecosystems. With the recent launch of 3G in India, andgrowing demand for rich data services, device manufacturers and mobileoperators can go-to-market quickly today with GPS navigation and advancedlocation-based services on handsets and Personal Navigation Devices (PND)powered by India’s most comprehensive digital map, data and solutions fromMapmyIndia. The automotive sector can look to enhanced in-car safety andinfotainment through next-generation GPS navigation and telematics productsfrom MapmyIndia and Qualcomm. Converged devices, which marry the internet withmobility, can benefit from MapmyIndia’s server platform to deliver maps andnavigation information across internet, mobile, in-car and digital TV. […]
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