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Global private equity firm The Carlyle Group has made a US$10.3 million investment in Elitecore Technologies Ltd. Headquartered in Ahmedabad, Elitecore is an IT company focusing on the fast growing Internet security and the convergent billing solutions markets. Funds will be used for Elitecore’s ongoing product development, research & development, working capital, new products and infrastructure build-up. The investment will come from Carlyle Asia Growth Capital Partners, a US$680 million fund that invests in high growth companies in China, India, Japan and Korea. […]
The race for Citigroup Global Services, the business process outsourcing arm (BPO) of Citigroup is hotting up with the entry of the BPO firm WNS and consultancy firm Accenture. Sources close to the development said these were the latest entrants into the fray. The list of suitors includes IBM, Automatic Data Processing (ADS), Infosys, EDS, Genpact, Capgemini and private equity players such as Blackstone and General Atlantic. A Citigroup spokesperson declined to comment. […]
CNBC-TV18 has learnt that Liberty Shoe may be looking to dilute about 10% equity. It may also be looking at a pre-IPO placement for its retail subsidiary. According to sources, the company is planning to make a 15-20% pre-IPO placement in their 100% subsidiary, Liberty Retail Revolution, which may fetch around Rs 30-40 crore. […]
JPMorgan's real estate investment arm is in advanced talks with private Indian real estate firm Aparna Constructions & Estates Pvt. Ltd. to invest about $100 million in a project, the Economic Times reported, citing unnamed sources. The investment is likely to be made through a special purpose vehicle, the report said. […]
HDFC and Barclays and announced that they would sell their entire shareholding in BPO firm Intelenet to SKR BPO Services. SKR is jointly owned by the management of Intelenet and Blackstone GVP Capital Partners, reports CNBC-TV18. In the country's largest management buyout, Blackstone and the management of Intelenet is buying the whole stake of HDFC and Barclays in Intelenet for about Rs 950 crore. […]
CLSA Capital Partners, a private equity arm of France's Credit Agricole , has agreed to invest $20.3 million in an Indian firm which makes inverters and other power supply systems, CLSA said in a statement on Monday. CSLA ARIA Investment Partners III and CLSA Clean Resources Asia, two funds within the private equity arm, would invest in the New-Delhi-based Luminous Power Technologies for an undisclosed stake […]
Private equity heavyweight Blackstone Group said on Monday it agreed to buy Indian back-office firm Intelenet Global Services Ltd. for an undisclosed sum, its first management buyout in India. U.S.-based Blackstone, which along with rival Carlyle has been grappling with stiff resistance from Indian companies unwilling to sell out, will own 80 percent of Intelenet, with the back office firm's management holding the remainder. The Economic Times newspaper said the deal could be worth $200 million, quoting unidentified sources. […]
Private equity firm Blackstone that was in the race to acquire Intelenet is close to clinching the deal for $200 million that will give it a majority stake in the BPO. Intelenet, ranked among the top 15 BPOs in the country, was up for sale with both its partners, HDFC and Barclays Bank, interested in exiting their holdings. The BPO is a 50:50 partnership between the two. Sources familiar with the development confirmed that Blackstone was in advanced talks and the deal was likely to be concluded next week. “A few issues still remain to be ironed out,” said another source. Company officials could not be reached. […]
VC firm Helion Venture Partners has closed in on its next investee company. The firm, which has made six investments since August 2006, is making a sub $10 million investment in Amba Research, an investment research outsourcing (IRO) firm.
Sanjeev … […]
Infrastructure Development Finance Corporation (IDFC) has exited Hutchison-Essar by selling its stake in the holding company to group firm IDFC Private Equity for around $25m-$30m. IDFC Private Equity has taken on the stake held by IDFC in India’s third largest … […]
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