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GS Strategic Investments, an indirect wholly owned subsidiary of Goldman Sachs Group, is planning to subscribe up to 39.36 per cent of post-issue paid-up capital of M Pallonji Enterprises Pvt Ltd (formerly Sairam Multitrade Pvt Ltd) for an aggregate consideration of Rs 180 crore. M Pallonji Enterprises Pvt Ltd (MPEL) currently holds 6.07 per cent of share capital of MetLife India Insurance Company (4.62 crore equity shares of face value of Rs 10 each). MPEL plans to acquire 3 crore shares of MetLife from MPG; and following a rights issue by MetLife, it proposes to subscribe to 1.19 crore equity shares of face value of Rs 10 each of MetLife. The move would take MPEL’s holding in MetLife to 10.01 per cent on a fully diluted basis. […]
The Rs 100-crore Gland Pharma Ltd has signed an agreement with Evolvence India Life Sciences Fund, a private equity fund focused on investments in life sciences businesses in the country, for capital infusion of $30 million (Rs 120 crore). The proposed fund is to support its expansion at its manufacturing facilities and fund research and development activities. The company is also open to acquisitions in the near future. Announcing this to the media, Ravi Penmetsa, vice-chairman and MD, said that the capital infusion of $30 million would help to vertically integrate the manufacturing capabilities, fund capacity expansion and file more Abbreviated New Drug Application (ANDA). Besides, the company is bullish over exports to the regulated Markets and expects 60% of its revenue to come from these Markets in the next two years. Gland Pharma has a pre-filled syringe facility in the country. Some of the Companies’ products include heparin, enoxaparin and dalteparin, used to treat blood clots and rocuronium, atracurim, etc used in anesthesia. The company is in the process of developing generic products in the oncology and anesthetic segments. […]
Komli ( www.komli.com), a leading online advertising firm in India, today announced it has received $7 million of venture financing led by Nexus India Capital, along with co-investors Draper Fisher Jurvetson and Helion Ventures. The financing will allow Komli to augment its staff and invest in several new technology initiatives planned for 2008. The three venture capital companies have previously been involved with such companies as eBay India, Hotmail, Skype, Overture, MakeMyTrip, and Junglee. The Komli Performance Network and the Komli Premium Network are two of the largest Indian ad networks helping publishers monetize their Indian inventory. PubMatic, a service by Komli, helps publishers optimize the value of their online advertising. In addition, the company recently launched two first-of-its-kind services for Indian advertisers: Search RePlay, a solution that combines search and display advertising to allow advertisers to more effectively target customers; and behavioral targeting, which has proven to increase customer traffic and lead volume for Komli users. […]
In a major boost to the private security business in the country, global private equity (PE) major DE Shaw has picked up a 14 per cent stake in Delhi-based Security and Intelligence Services (SIS) India Ltd for an undisclosed amount. However, market sources peg the deal at around Rs 450-500 crore. This is the first time a foreign hedge fund has invested in this sector in India. SIS, which was set up as an investigation firm almost 30 years ago, has grown into a security solutions provider, offering manned guarding, investigations, electronic security systems and cash in transit services to over 2,000 corporate customers across 24 states in India. It has a workforce of over 28,000 men and supervisors and 400 managers. […]
Tecpro Systems (TSL), engaged in the business of undertaking turnkey projects in bulk material handling systems including raw material handling systems for power, steel, cement plants etc. Tecpro is entering the capital market with an initial public offering (IPO) through a book built issue of 6,000,000 equity shares. The total issue will constitute 22.33% of the fully diluted post issue paid-up capital of the company. TSL has made Pre – IPO placement of 1,300,000 equity shares of Rs 10/-each. 10 lakh equity shares have been allotted to Credit Suisse Pe Asia Investments (Mauritius) Ltd. and 300,000 equity shares to Kotak Mahindra Capital Company Limited, both at the price of Rs 240 per share including premium of Rs 230 per share. The total size of this pre-IPO placement is Rs 312.00 million and shares given to investors under placement constitute approximate 5% equity shares of pre issue (post pre IPO placement) paid up share capital of the company. […]
Private equity giant Carlyle Group [CYL.UL] said on Thursday it has invested $27.7 million in Repco Home Finance Limited, a Chennai-based housing finance company focusing on Southern India. The funds will be used to improve Repco's equity base, allowing it to expand its loan portfolio, Carlyle said in a statement. The investment will come from Carlyle Asia Growth Partners III, a $680-million fund that invests in high-growth companies in India, China, Japan and Korea. Repco, a subsidiary of Repatriates Co-operative Finance & Development Bank Ltd, has been in the housing finance business since 2000. […]
Standard Chartered, Credit Suisse and Singapore's DBS Group have agreed to buy a one-third stake in an Indian outsourcing firm InterGlobe Technology Quotient for $140 million, banking sources said on Thursday. The company is part of India's unlisted travel group InterGlobe Enterprises, which also operates private IndiGo airlines. The firm has offices in 230 cities across India, according to its Web site. A source briefed on the deal told Reuters that the private equity arm of the three banks have agreed to buy the stake, which values the unlisted company at over $400 million. Officials at the Indian company were not immediately available to comment. DBS and Credit Suisse declined to comment, while Standard Chartered did not immediately comment. (Reuters) […]
State Bank of India (SBI) and ICICI Bank have together acquired 3% in Jaiprakash Power Ventures (JPVL), a wholly-owned subsidiary of Jaiprakash Associates (JAL), for Rs 400 crore in first of two private placements before its initial public offer (IPO). This would be followed by another pre-IPO placement before the firm hits the market with a public offer, together raising Rs 3,500 crore.The company will dilute another 17% through the private placement and IPO, according to a person close to the development. Of this, the pre-IPO deal is expected to be for about 3-4% of the equity, while the rest would be through the public offer. SBI and ICICI are supposed to have paid a little over Rs 230 per share. JPVL now has a paid-up capital base of Rs 541 crore, which includes 3% stake of the two banks. JPVL is looking at a valuation of $5.5 billion, post-IPO. Following the IPO, the shareholding of Jaypee group in JPVL would come down to 80%. […]
State Bank of India has picked up a 2 per cent stake in Mahindra Holidays and Resorts India Ltd (MHRIL) for about Rs 80 crore even as the company is preparing to come out with an IPO. The equity shares would e subject to lock-in after the IPO as per the SEBI regulations. MHRIL, a leisure hospitality provider offering family holidays under the brand name ‘Club Mahindra Holidays’ and a subsidiary of Mahindra Holdings and Finance Ltd (a wholly-owned subsidiary of Mahindra & Mahindra ), which filed a draft red herring prospectus with Securities and Exchange Board of India (SEBI) last month, is planning an IPO in the first quarter of the year. Its IPO of 10,719,347 equity shares of Rs 10 each for cash is at a price to be decided through a 100 per cent book-building process. […]
HSBC Private Equity Asia, a subsidiary of HSBC Asian Ventures Fund, on Monday said it pumped $7.5 million into New Delhi, India-based Newgen Software Technologies, a company that focuses on document imaging and work flow management systems. Imaging technology can help companies collate, retrieve, and present documents. Such business processes occupy a global market valued at roughly $10 billion to $12 billion and expected to climb steadily, according to analysts. […]
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