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Pharmaceutical major Nectar Lifesciences on Monday said it will raise 50 million dollar through the issue of securities in international markets. The board of directors of the company at its meeting today approved to issue Global Depository Receipts (GDRs), American Depository Receipts (ADRs) or any other international offering of up to 50 million US dollars, the company said in a filing to the Bombay Stock Exchange. Meanwhile, the company has received board of directors approval for issue of equity shares to Citi Venture Capital International and Everest Capital (M) Ltd and would sign a non binding term in this regard. […]
Indivision India Partners, the private equity arm of the Future Group, is close to picking up a stake, which could be in the range of 40%-50%, in food & beverages (F&B) entity Blue Foods, which operates a chain of restaurants across the country. The company’s flagship brands include Copper Chimney, Bombay Blue, Noodle Bar, Gelato Italiano, Spaghetti Kitchen & Cream Centre. It also has a franchiseee agreement with California-based coffee chain Coffee Beans & Tea Leaf. Sources said the new promoters will merge Pan Foods Solutions — a JV between Pantaloon Retail and Blue Foods — with Blue Foods and pick up stake in the merged entity. […]
Alok Vajpeyi, vice-chairman and managing director of Dawnay Day AV Financial Services, has sold his 25% stake in the company to private equity firm New Silk Route Advisors, according to two persons familiar with the deal. The private equity firm, co-founded by former McKinsey chief Rajat Gupta, bought the entire company for about Rs200 crore, acquiring Dawnay Day International’s 50% stake in the Indian venture and the employee trust’s 25% holding as well. Vajpeyi, who set up Dawnay Day AV in 2005 in a joint venture with Dawnay Day International, the financial services unit of UK-based Dawnay Day Group, would only say: “I cannot comment at this point.” A subsquent email sent to him remained unanswered. […]
German real estate fund MPC Synergy has picked up equity in various special purpose vehicles (SPVs) floated by real estate developer Phoenix Mills for Rs 1,300 crore (ie $200 million). The deal is the second-largest foreign direct investment (FDI) in the Indian real estate market. The transaction is taking place at a time when many real estate and private equity funds have either put on hold their plans in the Indian market or are trying to sell the investments. MPC Synergy is a joint venture between Germany-based MPC Capital and Switzerland-based Synegy Asset Management. The real estate fund has picked up equity stakes ranging from 10% to 49% in 21 projects promoted by Phoenix Mills and its two subsidiaries — Entertainment World Developers and Big Apple — in Tier I and Tier II cities. These projects, subsidiaries of Phoenix Mills, are coming up in cities like Mumbai, Chennai, Pune, Bangalore, Indore, Jabalpur, Raipur, Udaipur and Chandigarh. […]
Global financial services giant Merrill Lynch has picked up a 50 per cent stake in the Salarpuria Group’s Rs 150 crore five-star hotel project in Bangalore. According to Mahesh Khaitan, director, Salarpuria Group: “Merrill Lynch has picked up a 50 per cent stake in the special purpose vehicle (SPV) floated to build a star hotel in Bangalore.” The proposed hotel, which will have 250 rooms, is to come up on 300,000 sft on the Outer Ring Road (ORR) between Sarjapur and Marathalli, opposite Cisco corporate office. […]
Seventymm, India’s largest movie rental service has raised Rs 50 crores in Series C funding making it one of the largest invested start-up ventures in India with a total capital investment of Rs 90 crores. This round was led by NEA-Indo US Ventures. Vani Kola, Managing Director of NEA India-Indo US Ventures, has joined the Seventymm board. Seventymm had earlier raised Rs 40 crores in funding from leading venture capital firms including Matrix Partners India, Draper Fisher Jurvetson and ePlanet Ventures. […]
Kotak Private Equity said on Tuesday that it has invested in Rubicon Research, a product development company. Kotak, however, did not disclose the amount invested. “We have invested in Rubicon Research,” Kotak PE CEO Nitin Deshmukh told reporters here. Rubicon Research was established in 2000 as a contract research service company. Kotak PE has deployed $700 million of the $1.4 billion that it is managing in various companies across verticals. “We have to deploy another $700 million. We will invest at least $100 million in pharma,” Deshmukh said. […]
US-based private equity (PE) major General Atlantic is learnt to be final stages of talks with Wockhardt Hospitals to invest around $140-150 million. Although there are some differences over the valuation and structure of the investment, the PE may pick up around 20% stake in the Indian company, sources said. The hospital chain has been in talks with several PE funds after its initial public offer (IPO) got derailed earlier this year. Talks with most PE funds had also fallen through over differences about the company's valuation, PE sources said. When contacted, a Wockhardt Hospitals spokesperson said: “We don't comment on market speculations.” […]
Venture capital firm Draper Fisher Jurvetson, or DFJ, has invested an undisclosed amount in online education company Catura Systems Inc., its first solo investment since it set up an office in India in September. DFJ associate Prasanna Krishnan and India executive director Mohanjit Jolly have joined the board of Catura, an Indo-US cross-border firm, based both in Santa Clara, California, and Gurgaon, on New Delhi’s outskirts. DFJ India has been investing aggressively, closing 11 deals in as many months and exhausting more than half the $100 million (about Rs428 crore) India allocation—out of a global $650 million fund—that it intended to invest over three years. This includes three undisclosed deals in online publishing, e-waste management and semiconductor services. Of its disclosed investments, the firm has co-invested with other venture firms in all its deals except Catura. […]
SeedFund, an Indian VC firm backed with Google’s cash, announced a $1 million investment in Lifeblob, a Bangalore-based lifecasting company whose awkward name just about says it all. Lifeblob is a kind of digital diary that maps the media you share and thoughts you write onto a timeline. You can adjust the scale of this timeline to reflect the history of your online life in increments ranging from every day to a somewhat ambitious 100 years. Each entry appears as a “blob” that you can click on to expand. Lifeblob joins an increasing number of start-ups doing variations on this theme. These include Dandelife, Dipity, AllofMe and, in some ways, Plurk. Of the batch, Dipity and AllofMe are the most similar.The company, which has been in beta for months, opened up to the public today. […]
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