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Riverbank Holdings Pvt Limited, a joint venture between Bata India Limited and Calcutta Metropolitan Group Limited has finalised a 50 per cent equity participation by Yatra Capital Limited for its IT SEZ project to come up at Batanagar. Yatra Capital which is the first India focussed investment company and the first Jersey incorporated company to list on Euronext, Amsterdam, has picked up 50 per cent equity in the project for Rs 117.6 crore. The investment by Yatra has been done by a special purpose company, K2A Commercial. The IT SEZ is a part of the Calcutta Riverside project which also includes an integrated township spread over an area of 262 acres on the banks of Hooghly river. Speaking on the occasion, Mr Sumit Dabriwala, managing director of RHPL said, the first phase of IT special economic zone will be completed by early 2010 and the entire project including the township is expected to be over by the last quarter of 2012. […]
A clutch of domestic banks and foreign financial investors (FIIs) has picked up around 9% stake in GMR Infrastructure, the flagship company of the GMR group, for around $1 billion through a qualified institutional placement (QIP). The deal is the largest among the recent QIP deals. The investors include State Bank of India (SBI), Canara Bank, Capital International, Citigroup, T Rowe Price, Credit Agricole, UBS and Kotak Mahindra. The deal involves selling part-stake by promoters and issuing fresh shares. Post-issue, promoters’ holding will be down to 74%, while the public and new investors together will hold the remaining 26%. Sources said SBI and Canara Bank were the largest investors in the QIP, investing Rs 500 crore each. Other investors have invested between $40 million and $70 million. […]
GoAir is believed to be mulling over bringing in a new equity partner from among three aspirants, including a leading Indian corporate and a global venture capitalist – a move that would help the Wadias-promoted airline to expand its fleet to 40 aircraft by 2012. Ahead of advancing the negotiations, the budget carrier has been valued at up to Rs 1,600 crore ($350-400 million) by a leading international consultancy firm. Asked about the new equity partner and the stage of negotiations, a company spokesperson declined to comment, saying: “As a policy, GoAir does not comment on market speculations.” With the recent round of consolidation in aviation space, such as Jet Airways-Air Sahara and Kingfisher-Deccan deals, GoAir is emerging as an attractive investment target and has received offers from an international venture capital firm, an Indian corporate and another domestic financial investor, people close to the development said. […]
Global investment group Eton Park will spend 5.01 billion rupees ($127 million) for about 5 percent in the asset management arm of Indian financial services firm Reliance Capital Ltd RLCP.BO, the Indian firm said on Wednesday. The funds will be used for domestic and international expansion, Reliance Capital said in a statement. The transaction is subject to approvals and is expected to close in January 2008, it said.(Reuters) […]
The $150-million early-stage technology venture capital fund, IDG Ventures India, and part of the IDG Ventures global network of venture capital funds, has announced its investment of $ 2.5 million in innovative network security and vulnerability management startup iViZ, founded by an IIT Kharagpur alumni who has introduced the world's first automated and on-demand penetration testing product. Kolkata-based iViZ has addresses the over $10 billion global security and vulnerability management market where losses due to identity theft in the US alone have been estimated at at annual $ 48 billion. The security and vulnerability management market has been growing annually at over 18 per cent. . ''It is our privilege to support iViZ founded by Bikash Barai and Nilanjan De,'' said Sudhir Sethi, chairman and managing director, IDG Ventures India. ''This investment is based on our thrust of investing in disruptive software product firms out of India with a potential to scale globally. Security is a key market for us. iViZ has built a highly committed and innovative team whose first product has already generated significant market traction and is well positioned to be a leader worldwide,'' iViZ received recognition as being amongst Asia's top five security startups in the Global Security Challenge held by London Business School in September 2007. The company plans to utilise the investment to build its sales team in North America, Europe, Middle East/APAC and India and to significantly enhance its product development initiatives. […]
Integrated townships seem to be the preferred investment option for private equity (PE) players in India. In fact, a Cushman and Wakefield (C&W) report finds that 28% of PE investors favour investment through this route in the real estate market. According to the real estate global consultancy, till date, foreign funds and institutions have raised approximately $30 billion to be invested in Indian real estate with an estimate of $3 billion that has been committed. Integrated townships — as a low risk investment avenue due to their diversification benefits and low entry cost — are a highly attractive option. Agrees Sandeep Singh, national head, capital markets, C&W, “In today’s high land price scenario, integrated townships offer higher value creation opportunities due to low entry costs for land and synergies created by mixed-use development within them. Says Kunal Banerji, president, marketing, Ansal API, “Yes, it is true that private equity players are showing a lot of interest in this model. The returns on investment are good and the demand for integrated townships is ever increasing. An investor needs to look at both the micro and macro aspects and this model incorporates both.” […]
3i India Infrastructure Fund, part of the London-based private equity and venture capital company 3i Group Plc, has invested $101 million (Rs 398 crore) in Hyderabad-based infrastructure company Soma Enterprise. Though the companies have not disclosed the exact stake the fund picked up, Avinash Bhosale, joint managing director, Soma Enterprise said, “3i has got minority stake; the stake figure is in mid-teens (between 13% and 17%).” This figure values the company at over Rs 3,400 crore. Soma will use the money for expansion. “We will invest the money to further build capacities to undertake bigger projects. This includes buying infrastructure machineries,” Bhosale. Hyderabad-based Rajendra Prasad Maganti and his family owns majority stake in the infrastructure firm. Pune-based flamboyant real estate developer and hotelier Avinash Bhosale is the other promoter. […]
PTC India Financial services, subsidiary of PTC India, will immediately get Goldman Sachs Strategic Investments and Macquarie Securities Asia on board as `strategic financial partners`, reports Business Standard. The companies will pick up 20% each in PTC Financial Services, a non-banking finance company (NBFC). The total investments will be Rs 500-600 million, including a premium of Rs 3-5 on a face value of Rs 10 a share. `FIPB has already given its approval for this investment. We are now finalizing the shareholder's agreement,` said a senior PTC executive. PTC India will continue to hold the remaining 60% stake in the NBFC. […]
Yatra Capital (Yatra), a private equity player with focus on the Indian real estate, today announced investments in two companies in the retail and hospitality sectors. One of them is a $3.91 million (around Rs 22.8 crore) investment for a 28 per cent holding in Gangetic Developers, a joint venture formed to develop a retail mall in Agra, Uttar Pradesh. The other company that Yatra invested in was Alliance Hospitality Services to develop premium star category hotel and services apartments in Pune, Maharashtra. Yatra would invest ¤4.88 million (around Rs 28.5 crore) in the company for an equity holding of 20 per cent. With these investments, Yatra has now committed USD 80.5 million (around Rs 470.9 crore) of the initial USD 100 million (Rs 585 crore) it raised in December 2006. The PE player has identified hospitality and retail as the next growth areas. The hospitality sector in India is forecasted to grow at 8.8 per cent every year over the next 10 years, and it is anticipated that 1 lakh rooms will be required in the next 5-7 years with average room rates rising by 20-25 per cent in 2-3 years. […]
Reliance Technology Ventures Limited (RTVL), the corporate venture capital arm of the Reliance ADA Group, has invested an undisclosed amount in E-Band Communications Corporation (EBCC) as a lead investor for its Series B round. Reliance Technology Ventures Ltd. is a 100% subsidiary of Reliance Capital Ltd. EBCC was started in 2003 to develop ultra-high capacity wireless communications systems for the 70/80 GHz E-band spectrum, recently licensed by the US Federal Communications Commission for commercial communications. EBCC has an exclusive license agreement to co-develop products and communication systems around this technology, with the $30 billion Northrop Grumman Corporation, one of the world’s largest defense, aerospace and technology companies. EBCC’s technology enables the highest possible wireless transmission speeds ranging from 1 Gigabit per second up to 10 Gigabits per second. The funding round includes existing investors namely ADC and one of the largest US telecom companies along with Reliance Technology Ventures Ltd., Investec and Hercules Technology Growth Capital. […]
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