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Hyderabad-based Indu Projects has raised $113 million (about Rs 476 crore) from Credit Suisse, the Swiss investment bank. Indu will receive about $77 million (Rs 325 crore) in the first tranche of the funding and the balance would flow in the next 90 days. Indu Projects is a growing infrastructure company with interests in real estate, housing and market infrastructure. “The fund will be used for both our existing and future requirements. Credit Suisse has seen the potential in this market and the business plan we have,” Indu chairman and managing director Syam Prasad Reddy told DNA Money on Thursday.Credit Suisse will get a 10% stake, while the rest 20% of it is shared by Citigroup Venture Capital, Maple Holdings, IDFC, Sun Apollo and Red Fort Capital. […]
Baring Asia is investing $100 million to pick up 40 per cent stake in RSP Architects & Planners India, thereby marking big buck private equity’s foray into architectural consultancy space, sources said. The Hong Kong fund’s investment values the decade-old Bangalore-headquartered architect at $250 million, or Rs 1,000 crore. RSP India has about 360 employees on board, and is seen as a leading design and engineering architect for the sprawling IT campuses and parks. The firm’s portfolio of works include Microsoft campus in Hyderabad and the International Technology Park at Bangalore, while most of the country’s top real estate players figure in its client list. […]
In one of the largest private equity deals in the real estate sector this year, financial services major Credit Suisse has invested $100 million (about Rs 430 crore) in Hyderabad-based Indu Projects for a minority stake. Indu Projects is a leading name in the construction and real estate sector in Andhra Pradesh in which, about two years ago, Citigroup's private equity arm had invested about $50 million. Since the stock markets went into a tailspin at the beginning of the year with real estate companies among the worst hit deals in the sector have dried up. In this deal, Credit Suisse invested directly in the company, and not through a special purpose vehicle in one or more projects which is more common in this sector now, sources said. […]
IDFC Private Equity, US investment major DB Zwirn, sovereign wealth funds Singapore’s GIC-managed Indivest, Qatar’s Oman Investment Fund and Quippo Infrastructure are pumping in Rs 781 crore ($185 million) in Quippo Telecom Infrastructure. The fresh investments is through a mix of rights issue and entry of a new investor-Oman Investment Fund-which is picking 18.74 per cent in Quippo Telecom for Rs 480 crore, say sources. The balance Rs 301 crore is being brought in by existing investors in Quippo including Quippo Infrastructure, DB Zwirn, IDFC Private Equity and Indivest. Indivest and IDFC Private Equity are picking 12.19 per cent stake each in Quippo Telecom. Quippo Telecom is the telecom towers arm of Quippo Infrastructure, which is one of the largest infrastructure equipment rental firm in the country. […]
An ICICI Venture associate fund and a Singapore-based private equity (PE) player are in talks to invest Rs 300 crore in Kerala Institute of Medical Sciences (KIMS). The hospital will use the fund for Indian and overseas expansion. KIMS CMD M Sahadulla told ET, “We have been talking to several PE players to fund our expansion plans. We have now zeroed in on two funds—an ICICI associate fund and a Singapore-based healthcare focused PE player.” However, he did not disclose the amount of stake that KIMS would offload to these two funds. Mr Sahadulla added that apart from funds from PEs, KIMS was also looking at a strategic partner who would stay with the hospital for a longer period. […]
In tough market conditions where raising equity is proving to be difficult, the Bangalore-based Dynamatic Technologies Ltd, has quietly concluded a qualified institutional placement (QIP) to Fidelity, Amansa and New Vernon. The shares have been placed at Rs 1,234 a share, as against BSE's close of Rs 1,299 a share on Thursday. The board has cleared an in-principle allotment of 6.04 lakh shares to the three investors to raise Rs 74.53 crore. “Our investment plan envisages a budget of more than Rs 160 crore. We are looking at acquizitions, besides planning an expansion of domestic operations. The balance would be raised in the form of debt,” V Sunder, president (Finance), Dynamatic told TOI. […]
PreMedia Global Inc, a KPO (knowledge process outsourcing) firm in the high-end content services space, has raised fresh growth capital to fund its expansion into newer service areas and verticals. Promoted by the brother-sister duo of Kapil Viswanathan and Kami Narayan, children of late S. Viswanathan, who founded Bullet-maker Enfield, PreMedia has raised private equity to the tune of $ 4 million from NEA Indo-US Ventures. This comes on top of the $18 million that PreMedia received from JM Financial in January this year. Kapil Viswanathan said that fresh equity funds had come in at a ‘fair premium.’ Following the fund infusion, a nominee of NEA Indo-US Ventures has joined the board of the company. […]
The Ahmedabad-based MAS Financial Services Ltd has announced an investment of Rs 40 crore from ICICI Venture’s Mezzanine Fund and said it is in the final stages of receiving $10 million from Dutch development bank FMO. The company plans to use the proceeds to augment Tier-I and Tier-II capital and fund its technology infrastructure investments, according to a release here. ICICI Venture’s investment is in the form of redeemable preference shares and warrants and will be classified as Tier-II capital, while FMO has invested through compulsorily convertible preference shares, which will form part of Tier-I capital. The company is engaged in semi-urban micro-lending besides having significant market presence in two- and three-wheelers and multi-utility vehicle financing for the last one decade. […]
Mauritius-based Frontline Strategy Ltd, a Fabiani Family Office-anchored asset management company with prime focus on private equity investments, today announced an investment of USD 7 million in Krishna Saa Fabs Private Limited. Krishna Saa Fabs fabricates structural engineering products used in the high growth infrastructure support sectors of telecom, national highways, airports, and ship-building. The company's products include telecom and power utility towers; galvanized products for earth reinforcement, which are used in national highways and airport runways; and galvanized products used in ship-building. Krishna Saa Fabs is a unique company with a diversified customer base across multiple core infrastructure sectors, said Atim Kabra, Managing Partner, Frontline Strategy. […]
Australian firm AMP Capital Investors will be investing Rs 200 crore in Gayatri Infra Ventures Ltd, a fully owned subsidiary of Hyderabad-based infrastructure company Gayatri Projects Limited (GPL). Australian firm AMP Capital Investors will be investing Rs 200 crore in Gayatri Infra Ventures Ltd, a fully owned subsidiary of Hyderabad-based infrastructure company Gayatri Projects Limited (GPL). The first instalment of Rs 100 crore will give AMP a 29 per cent stake in GIVL. “We will use it to fund existing projects as well as future bids and concessions undertaken by GIVL,” said Mr T.V. Sanddep Reddy, director, Gayatri Projects. […]
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