The company is going to raise Rs 2,000 cr via PE funding. They are in talks with ML, Carlyle, JP Morgan, Crown for fund raising. The company has board meet on Oct 11 to consider for fund raising. (Money Control) […]
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The company is going to raise Rs 2,000 cr via PE funding. They are in talks with ML, Carlyle, JP Morgan, Crown for fund raising. The company has board meet on Oct 11 to consider for fund raising. (Money Control) […] Delhi-based real estate developer Parsvnath Developers (PDL) is learnt to be in talks with US-based global financial investors Lehman Brothers and Morgan Stanley for divesting equity in the company’s Special Economic Zones (SEZ) projects. Lehman Brothers declined to comment and an e-mail sent to Morgan Stanley did not elicit a reply. PDL chairman Pradeep Jain also declined to comment. Two of PDL’s SEZ projects in Indore and Gurgaon have already been notified. Sources say the company is looking to divest about 30-40% equity stake in both the SEZ projects to financial institutions. The deal size is expected to be in the excess of Rs 2,000 crore for both the SEZ projects put together. […] India-focused venture fund Helion Ventures today announced an investment of $5.1 million (around Rs 20 crore) in Mumbai-based Hurix Systems – a online publishing & e-learning company. In addition to the funding, Kanwaljit Singh, MD, Helion Ventures and Natarajan Ranganathan, CFO – Investment Advisor at Helion Ventures will join the Hurix Systems board. Hurix has clients like the McGraw-Hill Group, Prentice Hall School, Scott Foresman, Pearson Learning Group, LG Electronics, Cathay Pacific, DHL Express, Johnson & Johnson, Kotak Mahindra Bank and Pepsi.(Business Standard) […] Mauritius-based gaming firm Pallagames and UK-based IT firm Trilogix along with Small Industries Development Bank of India (SIDBI) are close to picking up around 25% stake in Mennen Aviation and Hospitality (MAHL), a Mumbai-based, real estate, gaming and aviation services firm. “We have already finalised an equity deal with Sidbi while negotiations are on with Pallagames and Trilogix. MAHL has plans to raise around Rs 150 crore through a mix of debt and equity for our expansion plans. We have plans to offload around 25% equity to raise part of the required funds,” MAHL managing director Dinesh Menon said. MAHL is currently developing around 100 acres of land in Mumbai, Goa and Karnataka. The firm is also setting up around 15 service apartments in these regions by 2012. The first project is coming up at Goa, which will be operational by the end of the year. The company has also identified centres like Kochi, Karwar, Gurgaon, Pune, Bangalore, Chennai and Hyderabad for setting up service apartments. MAHL is also setting up gaming centres along with its service centres. The firm has plans to set up an aviation training centre in Goa. […] Foreign investors’ appetite in Indian brokerage companies does not seem to be abating. Balyasny Asset Management — a US-based private equity fund has invested $10 million for 2.83% stake in Prabhudas Lilladher Advisory Services (PLAD). This is the holding company of Prabhudas Lilladher, a domestic brokerage firm. With the stake sale, the holding company has been valued at around Rs 1,450 cr. While the US fund has been investing in India across various sectors, it will be the first time that it has taken a stake in a financial services company. Prabhudas Lilladher is a broking firm, which has restructured itself to offer a gamut of capital market financial services such as institutional and retail broking, capital market, corporate advisory and a non-banking finance company (NBFC). PLAD was created to carry on corporate advisory business and is also the holding company of the entire PL group. Confirming the deal, senior company officials told ET that the company was planning to go in for a second round of funding sometime later at a premium to this deal. The company is looking at additional dilution of around 10% equity to raise approximately $50 million. […] Private equity player Wachovia Corporation is learnt to be in discussions with Gurgaon-based the Vatika Group, real estate company, for an investment of Rs 500 crore. The investment will be made in a project floated by Vatika Group and not in the holding company. Vatika is also learnt to be in talks with another global PE major Goldman Sachs for raising funds for a separate project. A source said the group is divesting 50% equity in one of its projects for Rs 100 crore. Vatika Group executive director Gaurav Bhalla and the Goldman Sachs spokesperson declined to comment on the investment. Even the Wachovia Corporation spokesperson declined to comment. Sources say, both deals are at an advanced stage and likely to see closure soon . […] Real estate developer Shipra Group today said it is in talks with private equity players to raise upto USD 200 million. “We are talking to lots of overseas private equity players to raise USD 200 million,” Shipra Group Managing Director Mohit Singh told reporters. Shipra Group is a Ghaziabad-headquartered company. “In the next three months, we would have raised USD 125 million,” he said. The funds raised would be used for the development of its four projects. The funds are being raised from overseas investors because domestic players are “conservative”, he said. The company would not be going for initial public offering in the short-term and mid-term, he said. (ET) […] The promoters of Delhi-based IT company NIIT Technologies (NTL)are in talks with private equity (PE) players Carlyle and TPG for selling a majority stake. Promoters, who currently hold 40% in NTL, may sell anywhere between 25-40%, the sources said. This will trigger an open offer, where investors can buy 20% more in the company. “NIIT (through its wholly-owned subsidiary Scantech Evaluation Services) holds 25% in NTL with a vision to attract strategic partners, if required, and to help in its next level of growth. There is no change in that position. Since NTL has a market capitalisation of Rs 1,309 crore, a 60% stake in the company will cost around Rs 1,000 crore, depending on the premium that the investors are willing to pay to the promoters. If the deal goes through, this could be one of the biggest deals in the IT sector. (ET) […] Bangalore-based local search company Four Interactive Pvt. Ltd has received $10 million (39.8 crore) in its second round of funding from Lightspeed Venture Partners, SVB India Capital Partners and Matrix Partners India. The company had earlier received funding of $2 million from Matrix Partners when it set up operations in December 2006. Four Interactive launched its service, local information search site AskLaila.com for Bangalore city in August. The portal allows users to search for places or utilities in areas within the city. Four Interactive will use the funding primarily to scale up services across the country and for technology investments to add product features and enhance its information database. The company will also use the capital to double its current headcount of 18 . “The first round of funding helped us with product trial in one city,” said Shriram Adukoorie, co-founder, Four Interactive. “The additional capital will help us expand faster into more cities.” The company will launch services in Mumbai by end-October, and expand into New Delhi, Kolkata, Chennai and Hyderabad in the next 10 months. […] NIIT Technologies is reportedly in talks with private equity majors Carlyle and TPG (Texas Pacific Group) for selling a majority stake in the company. A financial daily reports that a strategic investor is also believed to be interested in the deal. At present, the promoters' stake in NIIT Technologies is around 40%, and the newspaper report says that the company may sell anywhere between 25% and 40% to the potential suitor(s). This would trigger an open offer for an additional 20% in the company. […] |