U.S. investment bank Goldman Sachs and Australia's Macquarie are close to buying 40 percent in the investment arm of state-run PTC India for about 1.2 billion rupees ($30 million), the Economic Times said on Friday. “We have reached an advanced stage of negotiations. But I would not like to comment on the details at this point,” the company's chairman, T.N. Thakur, told the paper. Quoting sources close the development, the paper said the deal would be signed shortly, with Goldman Sachs and Macquarie to each take a 20 percent stake in PTC Financial Services. Goldman Sachs spokesman Edward Naylor declined comment while a spokeswoman at Macquarie could not be reached. ( Reuters) […]

GVFL, India’s pioneer Venture Capital Company today announced an investment of Rs. 40 million in Sahajanand Laser Technology Limited, India’s one of the largest manufacturers of Laser Systems for Diamond Industry. GVFL will make the investment from its Rs. 296 million Gujarat IT Fund. Sahajanand Laser Technology based in Gandhinagar will be utilizing the funds in the expansion of their range of high – end laser machines. “Picking up innovative technology companies early and nurturing them to leadership is GVFL’s forte. Sahajanand Laser pioneered the laser technology for diamond industry in India. With India emerging as “the global destination for diamond cutting and adding value to small and very small diamond “roughs”, Sahajanand has the potential to become a definite winner with GVFL’s effective nurturing and constant support,” says Mr. Vishnu Varshney, CEO of GVFL Ltd. […]

Private equity firm Global Infrastructure Partners (GIP) on Wednesday said it has acquired 74 per cent stake in East India Petroleum Ltd (EIPL). The stake was bought by GIP through a joint venture with Zeus Inframanagement, a company release said here. GIP holds 80 per cent equity stake in the JV with Zeus Inframanagement. The financial terms of the transaction were, however, not disclosed. EIPL is a privately-owned provider of liquid storage services for petroleum, oil and lubricant products, petrochemicals, liquefied petroleum gas and bio diesel. Its facility is located at Visakhapatnam in Andhra Pradesh. Global Infrastructure Management LLC Chairman and Managing Partner Adebayo Ogunlesi said, “EIPL is an outstanding storage asset, well-positioned in one of the premier ports in the second fastest-growing economy in the world – India.” “It also has significant opportunities for growth as energy consumption increases in India and the country builds storage capacity in line with global capacity levels.” The EIPL facility includes twelve storage tanks for petroleum, oil and lubricant products, petrochemicals and bio diesel with a total capacity of 74,000 kilolitres and three storage spheres for liquefied petroleum gas with a total capacity of 8,400 metric tonnes. […]

Global Investment House “Global” announced today that it has acquired through its private equity funds a significant equity stake in Reach (Cargo Movers) Pvt. Ltd, a surface transport company in India. The transaction was concluded by the private equity funds team for its Funds focused on investing in the MENA and South Asia region. Reach was established in 1971, the existing management took over the company in 2001 and changed the focus from being an agent for various transporters to a logistics service provider and focused on Providing Logistic Service, Transportation of Small & Parcel Consignments, Transportation of Capital Goods & Construction Equipments. Currently Reach provides logistics support for motor spare parts, engines, raw materials, finished products, project equipment, entire plant, sophisticated machineries, heavy transformers, oversized boiler and tankers. The Funds have invested USD5 million for a significant stake in the company. […]

Ishaan Real Estate, the first India-focused real estate fund listed in the Alternative Investment Market (AIM) in London, has acquired 40% stake each in eight real estate projects promoted by K Raheja Corp, for Rs 1,082 crore (£133 million). The properties in which the fund has invested include three IT parks, two Inorbit shopping malls and one hotel property. The Ishaan-K Raheja Corp’s deal could be the first investment by an AIM-listed property fund in the Indian realty space. Last November, Ishaan had raised about £180 million in its first phase from the AIM market of London Stock Exchange. The entire fund was to be invested in K Raheja’s properties in India. It may look at raising further funds from AIM market , and may look at investing other properties in India, said sources. Ishaan picked up equity in K Raheja Corp’s Inorbit shopping mall in Hyderabad, Inorbit shopping mall and IT park in Pune, Mindspace IT park in Hyderabad, Mindspace IT park in Navi Mumbai, two Mindspace IT parks in Hyderabad, Commerzone IT park, hotel and retail development in Bangalore, and Viverea residential development at former Hindustan Spinning & Weaving Mills site in Mahalaxmi at Mumbai. […]