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Private equity funds are finally putting money in power generation. In the first-ever investment by PE funds in the local power sector, CVC International and UTI Ventures have picked up around 30% stake in the Hyderabad-based Ind Barath Infra for Rs 290 crore. Sources said Rs 250 crore was raised from Citigroup Venture Capital International Growth Funds, managed by Citigroup, while UTI Ventures invested the remaining Rs 40 crore. […] In what may be the largest private equity deal in the country, Singapore government’s investment arm Temasek Holdings will acquire 4.99% stake in the country’s largest private telecom company, Bharti Airtel, as part of separate but possibly back-to-back transactions that will also see Vodafone selling 5.6% in the company. The net impact of these transactions will be that the shareholding of Bharti Enterprises, the holding company of India’s largest private telco, will rise marginally from its current 45% and the Temasek-Singapore Telecom combine’s holding (Temasek is the largest shareholder in Singtel) will go up to 36%. […] Sasken Communication Technologies Ltd. (Sasken), India's leading embedded communications solutions Company and IDG Ventures India, a $150 million technology venture capital fund, today announced the launch of Con-nectM Technology Solutions Pvt Ltd (ConnectM) for providing Machine 2 Machine (M2M) enabled solutions to global markets. Commenting on the Sasken – IDG Ventures Company, Mr. Rajiv Mody, Chairman and CEO, Sasken Communication Technologies Limited, said, “Sasken has been focused on embedded communication solutions with significant expertise in mobile devices/ handsets. Through ConnectM, we will leverage our expertise to address corporate customers in Transportation, Utilities, Industrial, Enterprise markets. ConnectM will provide one more axis of growth for Sasken” […] Future Capital Holdings’ private equity arm, Indivision India Partners, is buying just over 25% in the Hyderabad-based Global Hospitals for an undisclosed amount. The deal is estimated to be the largest private equity transaction in the Indian healthcare space. Global Hospitals, which is understood to be valued around Rs 500 crore, will use the capital to expand its super speciality hospitals at Bangalore, Mumbai and Kolkata. […] There is a likelihood that only 10-12% stake will be made available to private equity and strategic investors eyeing for Patni Computer Systems stake as against 44% earlier, reports Economic Times. It is said that promoters Ashok and Gajendra Patni, who were reportedly looking to completely exit the company by selling the 14% stake held by each of them, are now looking to sell only 5-6% each. Moreover, private equity investor, General Atlantic Partners, which earlier wanted to sell its entire 16% stake is rethinking on the issue. […] Kerala-Based Catholic Syrian Bank is on course to have new investors on board — a clutch of private equity funds. AIF Capital, one of the largest Asia-based independent private equity funds, is now buying into the old private bank which has been a target of takeover attempts in the past. The bank is now planning a preferential issue of 5% to the fund at Rs 190 a share, according to sources close to the development. Three other private equity funds are also on course to pick up an additional 13.5% stake through the preferential offering. CSB will make a preferential allotment of shares aggregating 4.5% each to three other private equity funds. The proposal is now before the banking regulator the Reserve Bank of India. AIF Capital has an exposure to the local banking sector through its acquisition of a 5.3% stake in Yes Bank. […] AM Global Infrastructure Partners, a private equity firm, said it agreed to buy a 25% stake in Chennai Container Terminal Private Limited, through its International Port Holdings portfolio company. The financial terms of the transaction were not disclosed. Chennai Container Terminal, located within Chennai Port on the South East Coast of India, serves the trade route between Europe and the Far East. Dubai Ports World owns the remaining 75% stake in the terminal. […] In what is the first buyout in the India-focused real estate fund space, Yatra Capital Ltd, an Amsterdam-listed fund, has bought out Eredene Capital Mauritius through its subsidiary K2 Property Ltd for €18.07 million (Rs99.39 crore) Eredene, listed on London’s Alternate Investment Market, had raised a $100 million (Rs410 crore) India-focused realty fund that listed on Euronext in December, in which hedge funds such as GLG Partners LP, Calyon & Cayman Family, and Henderson Global Investors had invested. Earlier this year, Citigroup Ventures acquired Old Lane, a hedge fund that had a $500 million real estate focused fund and a $500 million general fund that was also investing in real estate, as well as ajoint venture with a Chennai-based developer. […] JP Morgan’s real estate arm is in talks with Bangalore-based realty developer Prestige Group to infuse close to $100 million in the company, sources said. They said the infusion could be through equity placement or debt financing in the flagship company Prestige Estates & Projects. Sources said the cash generated could be employed for developing projects across south India, as Prestige looks to expand its footprint outside Bangalore in a big way. Last year, Prestige had reportedly raised $100 million through debt financing for specific projects. […] SKIL Infrastructure Ltd (formerly Sea King Infrastructure Ltd), promoted by Nikhil Gandhi, has sought clearance from the Foreign Investment Promotion Board (FIPB) to sell a 26% stake in the Mumbai-based infrastructure company to US-based hedge fund manager Avenue Capital Group for about $500 million (Rs2,050 crore). “Avenue Capital is buying a 26% stake in SKIL Infrastructure Ltd for about $500 million. The money raised through a new issue of shares will be utilized to fund various infrastructure projects such as tourism and shipyard,” said an SKIL Infrastructure official, who did not wish to be identified. He declined to provide more details citing a “confidentiality agreement signed between the two parties”. […] |