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Wipro chairman Azim Premji has picked up 10 per cent stake in Chennai-based supermarket chain Subhiksha Trading for Rs 230 crore. The software magnate’s interest in scooping up a small pie of India’s trillion dollar retail market will surely give a leg up to India’s retail industry, which, of late, has been buffeted by a blizzard of bad news. Sources in the know told ET on Thursday that Premji, in his personal capacity, has cut the deal through his private investment arm, snapping up 10 per cent of ICICI Venture’s stake in the closely held retail chain. Subhiksha Trading has an equity capital of Rs 32 crore and 10 per cent of equity works out to a meager Rs 3.2 crore. […]
Moserbaer India Ltd today announced that its wholly-owned photo voltaic subsidiary has entered into a definitive agreement to raise Rs 411 crore from a consortium of global investors including CDC group, Morgan Stanley and IDFC among others. This agreement is to fund the subsidiary's ambitious growth plans. The current transaction values Moserbaer's photo voltaic business at Rs 6350 crore. The company, headquartered in New Delhi, is the world's second largest manufacturer of optical storage media like CDs and DVDs. […]
Tuscan Ventures has announced its strategic investment in Singapore based Rasmussen & Simonsen International Pte Ltd. RSI, founded by industry experienced professionals, is a one-of-a-kind company focused on providing global shipping and logistics industry focused training, consulting and people development solutions. Tuscan Ventures will invest an undisclosed sum to receive 40% shareholding in the company. The investment allow the RSI team to fund their rapid global expansion including setting up dedicated offices in India and other key growth areas such as China and the Middle East. Commenting on this investment, Vishal Sharma, Managing Director, Tuscan Ventures, “The Global Shipping and Logistics industry will need to recruit and train 500,000 professionals, by a conservative count, over the next decade. As the industry shifts its focus from manual i.e. low cost to technology i.e. solutions, a well-trained work force will emerge as the true competitive advantage”. […]
The US-based global venture capital fund Clearstone Venture is increasing its exposure to the Indian market. The firm has decided to invest at least Rs 225 crore in four Indian companies in the current fiscal. It has already initiated discussions with a handful of companies in the on-line educational, entertainment and financial services verticals for the stake purchase. Clearstone Ventures Partners managing director Sumant Mandal told ET: “We are in talks with few potential entrepreneurs and will invest around $10 million in each of these firms. VC funding is a challenge here in India due to regulatory hurdles. Moreover, Indian stock markets have not yet matured,” Mr Mandal added. […]
The Indian power sector has emerged as the new darling of global private equity players. Following in the footsteps of Farallon Capital, L N Mittal Group, Lehman Brothers and TPG Growth, Actis and New Silk Route are in the race to invest around Rs 300 crore in Hyderabad-based Ind-Bharat Power. This investment comes close on the heels of the Rs 300 crore that Ind-Bharat raised from Citigroup Ventures and UTI Ventures. According to the information available, Motilal Oswal is running the mandate to secure this round of investment. Ind-Bharat Power focuses on the development of power projects of various capacities using different kinds of fuel and technology. […]
ECL Finance, a subsidiary of Edelweiss Capital, has acquired a 5.18% stake in Max India following pledge of shares against loans to some firms belonging to the promoters of Max India. In a statement to the stock exchange, ECL Finance said that it had lent Rs 15 crore and Rs 75 crore to Trophy Estate and Gaylord Impex respectively. When asked whether there was a default on the loan, Max as well as Edelweise denied any such development. “As security for the said loans, Liquid Investments, Maxopp Investment and Medicare Investments have collectively created pledge on 11,490,000 shares of Max India.” […]
The investment arm of the Government of Singapore, GIC, may pick up slightly below 10% stake in Asset Reconstruction Company of India (Arcil), subject to approval from the Foreign Investment Promotion Board (FIPB). Arcil is the country’s largest asset reconstruction company (ARC). Sources said an internal Arcil committee has approved GIC’s proposal to acquire 9-10% stake for around Rs 275 crore, which translates to Rs 80-90 per share. When contacted by ET, Arcil president and CEO S Khasnobis declined to comment on the issue. Recently, Arcil concluded its rights issue, which was followed by a private placement of equity. […]
Embarking on an aggressive expansion plan for its flagship brand Cotton County, Cotton County Retail Ltd will receive an investment of Rs 120 crore from Sequoia Capital India, which manages $1.1 billion in funds. Cotton County, engaged in ready-to-wear apparel retail business, is an integrated player across the entire value chain of manufacturing and retailing. It has a presence in over 350 cities. With existing more than 500 exclusive outlets, Cotton County is planning to increase its retail footprint to over 1,000 stores by 2010. […]
Private equity firm 3i Group may invest 8-10 billion rupees (99-24 million pounds) in a south Indian port operator for a stake of up to 26 percent, the Mint newspaper said, citing an official at the Indian firm. 3i has filed for approval with the Foreign Investment Promotion Board (FIPB), which clears overseas investments into India, the paper cited Chinta Visweswar Rao, chairman of CVR Group, which controls Krishnapatnam Port Co, as saying. The port operator will sign an agreement with 3i only after it “obtained clearance from FIPB”, Rao was cited as saying. […]
Waste management equipment manufacturer, Kam-Avida Enviro Engineers, today said that it has raised equity from Peepul Capital Fund II LLC. The company, however, did not disclose the amount raised. Kam-Avida intends to use the funds to set up a manufacturing and assembly facility which would help it ramp-up production capacity and to strengthen its sales and marketing presence, a press release issued here stated. Peepul is a leading India-focussed private equity fund. Kam-Avida would invest a part of the capital to strengthen its balance-sheet to foray into wet-lease services for large-scale sewage cleaning and maintenance, the release said. […]
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