The Blackstone Group (NYSE: BX), announced today that the Board of Directors of NSL Group (“NSL”) have approved an investment into “NSL Seeds” the flagship company of the privately-owned NSL group, by The Blackstone Group and its affiliates (“Blackstone”) for a minority position. As part of this transaction, Blackstone will have representation on the Board of NSL Seeds. The amount of the investment was not disclosed. NSL Seeds is the largest hybrid seed company in India, engaged in R&D, production and marketing of seeds with market leadership in hybrid cotton seeds and significant presence in other field crops including corn, rice, sunflower, sorghum, pearl millet, and vegetable crops. The company has a strong research platform that in the past has produced some of the leading cotton hybrid brands. In addition, the company’s distribution network, with nearly 25 stocking depots, 1000 distributors, 20,000 sub-dealers and a 350 person strong sales and marketing team, is the largest in the Indian seeds industry. […]

Private equity funds IDFC Private Equity Co. Ltd (IDFC PE) and UTI Ventures have acquired substantial stakes in Deepak Cables (India) Ltd, a Bangalore-based unlisted manufacturer of aluminium conductor wires, for some Rs285 crore, two bankers familiar with the transaction said. IDFC PE invested Rs200 crore from its $700 million (about Rs3,353 crore) IDFC Fund-III, Satish Mandhana, managing director of the fund, confirmed. UTI Ventures invested the remaining, he added. Both funds have acquired stakes from the promoter and managing director of Deepak Cables K. Venkateshwara Rao and his family. […]

The Blackstone Group has taken a majority stake in Mumbai-based CMS Computers and set-up up a company by carving out the IT infrastructure management and outsourced business services division. The new company's valuation is estimated to be around Rs 500-550 crore. Blackstone is understood to have taken slightly less than 55 per cent stake, and Rajiv Kaul — appointed as its executive vice chairman and CEO — is understood to have taken a minority stake of around 5 per cent. Till recently, Kaul was a global partner with Actis Capital LLP based out of London. Prior to that, he was with Microsoft for over 10 years. His last assignment at Microsoft was as senior director for emerging markets, including BRIC-based in Redmond and the US. […]

After nearly eight months of negotiations, CMS Computers has clinched a deal to sell a majority stake to private equity firm Blackstone for over Rs 250 crore. An investment banker familiar with the deal said an announcement is expected this week and Avendus was one of the advisors to CMS. There was no response to calls made to the company’s founder promoter, R D Grover. ET had reported in June about the company’s plan to raise money from PE players. The CMS group is one of the oldest business groups in the country with interests in IT. It is also one of few firms with a significant presence in the domestic IT business. Mr Grover has been in negotiations with Blackstone for several months. […]

Two private equity firms — US-based Berggruen Holdings and UK-based Cycladic Capital — have picked up close to 80% stake in construction equipment service provider Gemini Equipment and Rentals (GEAR) for around $15 million (nearly Rs 74 crore). “This is part of the first round capital-raising programme. The proceeds will be utilised for expansion,” said GEAR managing director Rajiv Sethi. The construction equipment industry is growing at the rate of 35% and is likely to expand fivefold by 2015. The critical role of the industry in the infrastructure development has opened huge opportunity for entrepreneurs to enter the construction equipment rental business. […]