|
|
Healthcare has become a major private equity play and with a few select large players in the industry like Fortis, the investor line is long. NDTV has learnt that none other than private equity (PE) major Temasek Holdings is the front runner for a stake in the company. No wonder the stock is at its all time high and the key trigger could be Temasek buying into the company. Temasek is in talks with Fortis to pick up a 10 per cent stake. The deal value is not yet known but going by the current market price it is likely to be at least Rs 250 crore. The Fortis management is tightlipped about such a development but admits that it is open to partnerships to grow. […]
Ahead of its initial public offer, Mahindra Holidays and Resorts India Ltd (MHRIL), a subsidiary of Mahindra Holdings and Finance Ltd, has finalised a private placement with a bank which values the company at $1 billion. Sources said that the deal, likely to be announced on Tuesday, will see the Indian bank acquire a 2% stake in MHRIL for a consideration of around Rs 80 crore. When contacted, chairman Arun Nanda refused comment. MHRIL, which filed a draft red herring prospectus with Securities and Exchange Board of India (Sebi) last month, is targeting an IPO in the first quarter of the year. It plans to issue 42 lakh fresh shares through the IPO. Mahindra Holdings and Finance is a wholly-owned subsidiary of Mahindra & Mahindra. […]
Dish TV India announced that it sold 4.9% stake in the company to a Mauritius-based private equity firm, Indivision India Partners, promoted by Kishore Biyani`s Future Capital Holdings, for Rs 2.5 billion, reports Business Standard. Dish TV will make a preferntial allotment of 12.5 million equity shares of Rs 1 each at a price of Rs 100 each aggregating Rs 1.25 billion. Indivision will also subscribe to 9,615,385 warrants, which will be converted into equity at Rs 130 a share, 18 months later. The sale proceed will be used to expand Dish TVs operations. The company is planning to raise over Rs 10 billion in the next two years for expansion. […]
Foreign investors such as Franklin Templeton, HSBC, ABN Amro have picked up around 10% stake in the Ashok Piramal group’s real estate arm, Peninsula Land (PLL) for Rs 525 crore. The new equity holders purchased PLL stake through a qualified institutional placement (QIP) route. The deal values the Ashok Piramal group company at just over Rs 5,000 crore. The transaction is expected to cut the promoter holding in Peninsula to 52.54% from 62.3%. UBS Capital and Enam Capital advised the company on the transaction. PLL executives said that the money will be used for land acquisition and construction of new projects. PLL was among the first companies to use old Mumbai textile mill land to enter the property development business, a move which has triggered a frenzy of mall building and corporate high-rises in that part of Mumbai. […]
The Specified Undertaking of the Unit Trust of India (Suuti) has sold 36.58% stake in Mumbai-based NBFC Sicom for $100 million to US-based private equity fund JC Flowers. JC Flowers invests mainly in the financial services sector and distressed assets. ICICI Securities was the sole advisor for the transaction. Suuti had earlier shortlisted JC Flowers, US-based SCSI and L&T Infrastructure before striking the deal. Sicom offers fund-based and non-fund based products and services to Companies in the private and public sector and government bodies. Besides, Sicom has separate arms for mezzanine funding and private equities. It also has been providing techno-economic viability studies, detail project appraisals for both small and large projects and in some cases acquiring land on behalf of corporates to set up large projects. Sicom’s main thrust is lending, asset management, and advisory services. […]
Global private equity firm General Atlantic is close to buying 10% stake in Essar Power (EPL) for around $600 million. EPL plans to head to Dalal Street after the placement. Talks between General Atlantic and EPL are in an advanced stage and a deal is likely soon, sources said. “EPL, which has a generation capacity of 1,200 mw, is valued at around $6 billion. The company plans to invest $4 billion to set up three power plants with a cumulative capacity of 3,600 mw. The projects will be funded on a 3:1 debt-equity ratio. The fresh funds raised through private equity will be used for the new projects,” said company sources. When contacted by ET, company officials declined comment on the stake sale and IPO. “Two private equity majors were in the race, but now General Atlantic has moved in,” sources said. […]
Bennett, Coleman & Co Ltd (BCCL) has picked up stake in a private company, Airex Logistics & Express Services. Airex specializes in serving courier, cargo, warehousing & distribution and other express logistics needs of banking, financial institutions, pharmaceuticals that includes cold chain products, electronic manufacturers and insurance companies across India. Airex Logistics offers express courier services and cash management services for various leading multinational and locals banks and insurance companies of companies which lay a lot of stress on safe, guaranteed and timely delivery of documents. Highlighting its presence in the retail industry, Airex has tied up with a renowned chain of retail stores to provide facility counters across outlets where customers can send and receive couriers at competitive rates. Airex has also taken up distribution of merchandise for leading brands. […]
Subhash Chandra's direct-to-home venture Dish TV has announced that it has sold 4.9% stake in the company to Indivision India Partners, a Mauritius-based private equity firm promoted by Kishore Biyani's Future Capital Holdings, for Rs 250 crore. Dish TV will raise the money in two tranches. It will do a preferntial allotment of 12.5 million equity shares of Rs 1 each at a price of Rs 100 to raise Rs 125 crore. Indivision will also subscribe to 96,15,385 warrants, which will be converted into equity at Rs 130 a share, 18 months later. […]
Goldman Sachs Strategic Investments and Macquarie India Holdings have signed an agreement to acquire 20 per cent stake each in PTC India Financial services (PFS), the recently incorporated subsidiary of power trader PTC India, for about $40 million. The two “strategic” investors will acquire the stakes through a fresh issue of shares by the subsidiary, set up to invest across the Indian energy value chain, a statement from PTC said. The Foreign Investment Promotion Board (FIPB) had earlier approved the equity partnership in PFS. This will be a non-banking finance company, which will extend equity and debt financing to power projects. “The two companies will pay a premium of Rs 6 on each share of Rs 10,” an official informed. […]
A private equity fund managed by Kotak Venture Funds would invest around $10 million in Chandrababu Naidu promoted Heritage Foods. The deal was signed on Monday evening. Sources familiar with the development said that the board of directors of Heritage would meet on January 4 to ratify the placement to Kotak VC on a preferential basis. The monies raised from this exercise would be used to expand the ‘Fresh@' stores from the present 50 to 100. “The Fresh@ stores which Heritage Foods started last year to jump into the retail bandwagon has met with considerable success. The business needs more funds to expand and therefore this placement,” sources said. Heritage started to roll out its retail format under brand name ‘Fresh @'. All the stores are only in South India and the strategy is to remain in South for the time being, expand the footprint and then look at other markets. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|