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TeleDNA Communications Pvt Ltd, a US and Bangalore-based mobile VAS solution provider, has raised $10 million from Hyderabad based private equity firm Peepul Capital. TeleDNA plans to venture into managed services/MVNO offerings for mobile network operators (MNO), especially in areas like MMS and cell broad cast. It also plans to create revenue generating VAS applications with mature VAS infrastructure products. TeleDNA will also expand its existing sales and support functions. “Company will also venture into Managed Services/MVNO offerings with technologies where operators have not made any significant revenues. For example, MMS and CellBroadCast has not been a success story for network operators due to lack of compelling applications, complications around service subscription, device settings and billing plans,” said Praveen Nallapothula, Managing Director and CEO TeleDNA. […]
Ansal API’s 2,500-acre township Megapolis in Dadri, Greater Noida, might see another round of stake dilution in the very first month of the project’s launch. According to sources, State General Reserve Fund (SGRF) of Oman is planning to pick a 24.5% stake in the upcoming township, which pegs the total value of the project at Rs 26,500 crore. The total investment in the project was reported at Rs 13,000 crore of which 8.5% was picked up by HDFC AMC for Rs 1,105 crore recently. Another 15% is reportedly being eyed by PE firm Warburg Pincus, and Citigroup. Though sources involved in the discussions confirmed the deal, Ansal API president international marketing Kunal Banerji said: “Two years back, SGRF wanted to make an investment in our SEZ project but nothing materialised. Currently, we are not dealing with them for any new project.” Sources said a big Delhi-based law firm is giving finishing touches to the MoU. […]
CarWale.com, an automotive Internet portal on Wednesday announced receiving $ 7 million of funding from a venture capital company Sierra Ventures. The company said this funding will be used to fuel it's growth strategy including, expanding sales distribution, increasing marketing efforts, and continuing investment in product activities. Tim Guleri and Vispi Daver of Sierra Ventures will join the company's Board of Directors. CarWale had earlier received seed stage funding from an early stage fund –Seedfund. Pravin Gandhi, Managing Partner Seedfund, represents the firm on the company's Board. […]
A fund sponsored by Lehman Brothers Holdings Inc., which had invested $200 million (Rs980 crore today) in DLF Assets Ltd, a firm owned by the promoters DLF Ltd, has divested its stake to a unit of its co-investor, London-based Symphony Capital Partners Ltd. DLF Assets buys and holds completed commercial assets of DLF, India’s largest listed developer. It received $1.15 billion in total from Symphony ($450 million), DE Shaw and Co. Lp. ($400 million) and Lehman Brothers ($200 million) over the last two years. Sales of commercial real estate projects to DLF Assets made for 46% of DLF’s profit before tax in the quarter to September. DLF Assets owes Rs4,804 crore to DLF as payments for assets bought. […]
Deccan Chargers—the Hyderabad franchisee of the Indian Premier League (IPL)—is learnt to be in final stages of discussions with KKR, the New York-based PE fund, for divesting a significant minority stake. It is leant that KKR has submitted a term sheet for picking about 47% stake in the team at a pre-money valuation of $20 million (Rs 100 crore). Deccan Chargers is promoted by a Hyderabad-based media group. An email sent to Deccan Chargers CEO Tim Wright did not elicit a response. Repeated attempts to contact him on his mobile also failed. It is leant that while an investment banker has been appointed by the company to find suitors, KKR is the only fund that has submitted a term sheet to the company. If accepted by Deccan Chronicle, it will be the first instance of an IPL team getting PE investment. This will also be the first instance of an Indian team in any sport getting PE funds. Globally, Och Ziff owns a significant stake in Manchester United. […]
Software firm Mastek Ltd said on Monday, Nalanda India Fund Ltd has acquired 5.2 percent stake in the company through market purchases, to take its shareholding to 9.99 percent. Nalanda India Fund, floated by private equity firm Nalanda Capital, has a corpus of $400 million, its website said.(Reuters) […]
Software firm Mastek Ltd said on Monday, Nalanda India Fund Ltd has acquired 5.2 percent stake in the company through market purchases, to take its shareholding to 9.99 percent. Nalanda India Fund, floated by private equity firm Nalanda Capital, has a corpus of $400 million, its website said. Shares in Mastek were up more than 3 percent at 220.10 rupees in a weak Mumbai market.(Reuters) […]
IL&FS Realty Fund, a private equity fund managed by Infrastructure Leasing and Financial Services (IL&FS), has picked up 30% stake in JB Pharma SEZ for $15 million (Rs 75 crore). Two nationalised banks — State Bank of India (SBI) and State Bank of Mysore — have financed the Rs 84 crore debt to the special economic zone (SEZ) project. JB Pharma SEZ has been formed to set up a pharma SEZ. It’s jointly promoted by the real estate firm HBS Realtors and JB Mody family — the promoters of JB Chemicals and Pharmaceuticals — at Panoli in Gujarat. Consulting firm Ernst & Young (E&Y) was the advisor to JB SEZ’s fund raising. The total cost of the project is estimated at around Rs 160 crore. Confirming the development, Sandeep Shah, managing director, HBS Realtors, said, “The promoters have diluted 30% equity stake in the SEZ project to IL&FS Reality. Post-dilution, the promoters will hold 35% stake each in the project.” […]
Helion Ventures and TVS Shriram Growth Fund have invested $7.5 million in 9.9 Mediaworx Pvt Ltd, a diversified media company focused on niche consumer, business and professional communities. Sanjeev Aggarwal, MD of Helion, and Gopal Srinivasan, CMD of TVS Capital, will join the 9.9 Media Board. Announcing the investment, Pramath Raj Sinha, Founder & MD of 9.9 Media, said, “We are fortunate to have such first-rate investors as Helion and TVS Shriram Growth Fund as partners in our journey to build a next-gen media company. In particular, we are excited that two seasoned entrepreneurs in Sanjeev and Gopal are joining our Board.” The funds will be utilised to fund growth and the launch of new products and services. “We are impressed with how much the 9.9 team has been able to achieve in a short period of time. At a time when media in India is expanding and growing rapidly, we see 9.9 Media as the ideal vehicle to extend our portfolio into the media space,” said Sanjeev Aggarwal, MD of Helion Ventures. […]
International Finance Corporation (IFC) is planning to invest up to $75 million in the agro-chemical company, United Phosphorous Ltd (UPL), to fuel its expansion plans. UPL will use the funds in enhancing its production capacities and products portfolio, along with possible acquisitions. During the financial year 2008, UPL has invested around Rs 229 crore as capital expenditure in increasing capacity of agro chemicals and industrial chemicals plants. “For the next three years capital expenditure of the company may cross Rs 500 crore,” said chairman and managing director (CMD), UPL, Rajju Shroff. “The company will continue to look for acquisition opportunities world over.” In previous financial year, the firm acquired 100 per cent stake in Evofarms […]
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