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Asian Private equity player SAIF Partners is looking to invest Rs 75-100 crore in Gujarat-based crane manufacturer Anupam Group of Industries. This will be the first round of private funding for the company. E-mails sent to both Anupam Industries and SAIF Partners did not elicit a response. However, sources close to the development say the deal is almost signed. The amount of stake that Anupam Industries will dilute is not yet known. Anupam Industries is one of the largest manufacturers of cranes including power cranes, grabbing cranes, steel plant cranes, construction industry cranes, refinery cranes and nuclear industry cranes in India. The company caters to several companies including Tata Steel, Essar, Jindal, NTPC, Bhel and the Aditya Birla Group. The private placement is expected to fund the company’s expansion plans. SAIF Partners, which manages two funds with a combined corpus of $1 billion, has bought a 5% stake in NSE for over Rs 500 crore. The New York Stock Exchange, Goldman Sachs and General Atlantic have also bought stake in the exchange along with SAIF Partners. The fund has also bought stake in Chennai-based pulse processing company Asian Dhall Industries. […]
In the first of its kind among property consultants, the UK-headquartered Knight Frank Group will launch a $250 million India-focused real estate fund. According to sources in the know, the offshore fund will raise investments from high net worth individuals and other investors from the UK and will have an investment threshold of $0.5 million and above. However, employees of the consultancy can invest smaller limits and the fund will invest in FDI-complaint projects in the country, according to sources. The fund-raising is expected to begin by January 2008 and will close in a couple of months. Rutley Capital Partners (RCP), Knight Frank's real estate private equity and investment management arm, is expected to spearhead the launch of the India fund. However, an e-mailed questionnaire to Robert Hannington, managing partner, RCP, did not elicit any response. […]
In a sign that environment-protection businesses in India are becoming attractive for investment, venture capital firm UTI Ventures has invested $8 million in Pesco Beam Environmental Solutions, a company involved in waste oil recycling and alternate energy systems. The investment comes even as oil nudges close $100 a barrel and alternative energy sources are becoming more critical globally. The 18-year-old Pesco ((Pragmatic Environmental Solutions Co) builds plant and machinery for companies that are into waste recycle management and manufacture of alternate fuel such as ethanol. It has offices in the US and in Chennai in India. “Investors are chasing these opportunities. Globally, many clean energy funds have been raised to invest in this sector,” said Raja Kumar, CEO and MD, UTI Ventures. The clean technology sector received more than the usual share of interest this week when Nobel Peace prize winner and former US vice-president Al Gore joined Silicon Valley venture capital firm, Kleiner Perkins Caufield & Byers (KPCB), on Tuesday. Vinod Khosla of KPCB has also backed clean technology enablers in India and picked up stake in Praj Industries, which makes equipment for ethanol manufacturers, early last year. […]
ICICI Venture has entered into discussions with the promoters of Shalimar Paints which may culminate in a buyout of the latter. Sources said the PE major was working on tabling a possible offer valuing the company at around Rs 450 crore. The domestic paint market is pegged at Rs 11,000 crore and is growing at about 14-15% annually. The company, with three plants at Sikandrabad, Nashik and Howrah, has an annual capacity of around 43,000 tonnes. The company’s stock price on BSE has climbed up from Rs 138 in March this year to a high of Rs 450 on November 12. On Wednesday, it closed at Rs 430, up 1.90%. When contacted, ICICI Venture declined to comment. Sandeep Sarda, executive director & CEO, Shalimar Paints, said: “If there is a proposal, we might examine it. But as of now, there is nothing before us. And we are unaware of any such developments.” However, sources said talks have taken place between ICICI Ventures and Shalimar on a possible deal. In fact, an international media report said private equity funds have shown interest in the company, and quoted a company official who did not rule out the possibility of divesting a majority stake. […]
Leading private equity investors ICICI Venture and Baring Private Equity Asia are set to invest around Rs 500 crore to pick up around 32% stake in Karvy Stock Broking Limited (KRBL), an arm of the Hyderabad-based Karvy Group. The deal puts the enterprise value of the securities firm at around Rs 1,500-1,600 crore. MAPE Advisory Group advised Karvy on the transaction. The valuation, however, is lower than that of other established stock broking and investment banking players like Edelweiss Capital, Indiabulls, Motilal Oswal Securities and India Infoline which took PE route in the past and raised funds from the primary market. ICICI Venture and Baring Private Equity are buying the 20% equity held by existing investor Pacific Century Group (PCG), while an additional 12% stake will be offered to them in the form of fresh equity, according to sources. The Hong Kong-based PCG had acquired the stake for Rs 83 crore in 2005, which had valued Karvy at around Rs 415 crore then. KRBL offers a wide range of financial services including stock, commodities and insurance broking, investment banking, mutual fund distribution and depository services to over 3.5 lakh retail investors. These services are offered through a strong network of over 580 branches spread across India. […]
The VG Siddhartha-led Amalgamated Bean Coffee Trading (ABCTL) is closing a $95 million (Rs 340 crore) fund-raising from Deutsche Bank and Templeton Darby International. The investment is to expand and develop ABCTL’s retail business, the key component of which is Cafe Coffee Day, the country’s largest chain with 480 cafes in India. The transaction, which has been in the making for a while, is likely to be wrapped up soon, according to sources in the company. Mr Siddhartha, who pioneered India’s coffee cafe culture, won ET’s Entrepreneur of the Year Award in 2003. The two private equity investors together are expected to take a little over a 10% stake in ABCTL’s retail business, whose enterprise value is close to $600 million with debts included, sources say. It is believed that Deutsche Bank will invest $70 million with Templeton Darby International bringing in the remaining $25 million. […]
RG Stone Urological Research Institute, the super specialty urology hospital in India today announced investment of US $ 10 million in the Institute by the leading private equity firm, ICICI Venture. The group will use the funding to establish twenty new hospitals. RG Stone Urological Research Institute, a highly reputed institute for Urology, announced major plans for expansion across India. The first phase includes a super specialty hospital with state of art technology in Goa and four speciality centres in tie up with leading hospitals, which includes S K Soni Hospital, Jaipur, Kamyani Hospital, Agra , Saguna Hospital, Bangalore and Ivy Hospital , Mohali. The projects are expected to be completed by the end of December 07. The second phase, expected to be completed by September, 2008, will see the addition of fifteen centers. RG Stone Urological Research Institute will become the first institute in the country to introduce the concept of outsourcing surgical departments. The super speciality centres would be completely owned and managed by RG Stone Urological Research Institute. The centres will be equipped with Siemens Lithotripsy with ultrasound & X-Ray attachment for localization and treatment of kidney stone removal, 100 watt Holmium Laser for treating enlarged prostate and urinary stone, Nephroscope and Uretroscope from Karl Storz and Richard Wolf, Germany for complete endourology. All the modern facilities and equipments from Karl Storz and Richard Wolf will be used in performing advanced laparoscopic surgeries. Almondz Global Securities Ltd, Delhi was the financial advisor to RG Stone for the transaction. […]
NYSE-listed Lehman Brothers is set to pick up around 10% in Ramky Group for $100 million (Rs 407 crore), the latest instance of Indian realty benefiting from private equity (PE) funds. Ramky Group is a Hyderabad-based infrastructure and realty company promoted by Ayodhya Rami Reddy. It has a turnover of around Rs 1,600 crore. Lehman Brothers is a diversified, global financial services firm with branches across the world. Ramky Group is set to use part of the funds to expand the operations of its wholly-owned subsidiary —Ramky Enviro Engineers— in India and overseas. The balance will be used to finance overseas acquisitions. Ramky Enviro Engineers specialises in bio-medical waste management, oil recovery and metal recycling. “We are looking at expanding operations in the Middle East and Singapore, besides India. We are also open to acquiring mid-sized companies in Singapore and the Middle East,” said a company official. […]
Private equity firm Blackstone Group has invested $65 million for a stake in Indian engineering firm MTAR Technologies Pvt Ltd, the U.S. company said late on Wednesday. MTAR makes machined parts for nuclear, space and defense projects, as well as engine and structural components for aerospace and defense applications, it said. The funding is a mix of primary and secondary equity. The Economic Times newspaper said Blackstone had bought 26 percent in MTAR. “We are very enthusiastic about this investment as we foresee a huge growth opportunity for MTAR both in domestic and global markets,” said Akhil Gupta, chairman of Blackstone Advisors India Pvt Ltd. Blackstone has said it had a huge pipeline of deals in India, and has made a series of investments recently, including buying a majority stake in apparel firm Gokaldas Exports Ltd and $150 million in Nagarjuna Construction Co Ltd. First Securities was the advisor to the transaction.(Reuters) […]
A line-up of private equity investors, including the biggies, are in the race to buyout the 32% stake held by Indian promoters in Sony Entertainment Television (SET). Sources said Warburg Pincus, Blackstone and Standard Chartered Private Equity, among others, were exploring a possible deal after SET kicked off a stake divestment process to facilitate the exit of the Indian promoters and Capital International. It is believed the promoters are seeking an equity valuation pegged between $1billion and $1.5 billion for the company, valuing the local shareholding at around $300-400 million. Sources said some potential suitors may value the company at around $1 billion, and it is not certain whether it would meet with approval from the existing shareholders. Asked about Indian promoters being in talks with private equity investors, Kunal Dasgupta, chief executive officer, SET, said: “This is not an area that I comment on.” The five local promoters exploring exit include actor Jackie Shroff, Shemaroo Films managing director Raman Maroo, World Media group director Sudesh Iyer and MobiApps Holding’s Jayesh Parekh. An email sent to Ron Sato, vice-president of corporate publicity at Sony Pictures Television International, remained unanswered at the time of filing the story. […]
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