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Private equity (PE) firm CX Partners is close to buying 20% stake in electrical products company NTL Electronics India for around Rs 120 crore, said two persons familiar with the matter. Promoted by Arun and Praveen Gupta, NTL Electronics manufactures electronic ballasts used to make energy-efficient CFLs. The Noida-based privately held firm supplies to companies such as Osram, Philips, Surya Roshni, Crompton Greaves among others. When contacted CX Partners’ chief Ajay Relan declined to comment on the development. NTL Electronics managing director Arun Gupta confirmed the firm is raising money from CX Partners but declined to divulge details of the transaction. “We will use the funds to expand our existing production facilities and R&D capabilities besides financing plans to foray into another energy-efficient lighting range of LEDs,” he said. The company plans to launch the initial public offer by 2013, Mr Gupta said. […]
The Ruia Group, known for its buying spree, could acquire a European auto component company soon, chairman Pawan Kumar Ruia said. “We are trying to close a deal very soon in one of the auto component companies in Europe. In Europe, a lot of companies are up for sale. We are working on some projects,” Ruia told IANS in an interview here. The company, which is looking at two-three European companies, has acquired British auto component company Schlegel Automotive Europe Ltd and Germany's leading automotive sealing systems company, Henniges Automotive Grefarth GmbH, in 2009. “Both the companies in the UK and Germany are doing very well right now. Fortunately they are getting orders from the OEMs (original equipment manufacturers).” […]
Venture capital fund Norwest Venture Partners, Accel Partners and IDG Ventures have invested $7.2 million in Chennai-based medical technology company, Perfint Healthcare. While a large share of the investment has come from the $3.7-billion Norwest, this is the second round of funding for both IDG and Accel. They had invested $3.5 million in Perfint four years ago, when it was just a startup. Perfint, an emerging company in the interventional oncology space, is the maker of PIGA CT, an image-guided minimal invasive diagnostic equipment. The equipment assists biopsy, drug delivery and ablation of small tumours. Perfint has made 40 installations within a year of its launch in healthcare institutions, including All India Institute of Medical Sciences, Jaslok Hospital, Mumbai, and Sri Ramachandra Medical College in Chennai. With the second round of funding, the company will scale up its operations by launching the product in West Asia, southeast Asia, eastern Europe and Latin America this year, said S Nandakumar, CEO of Perfint. […]
India's largest lender the State Bank of India (SBI, BSE:500112) and State General Reserve Fund of Oman on Wednesday said they will jointly set up a fund with an initial corpus of US$100 million (about Rs 450 crore) for making equity investments in India. SBI and State General Reserve Fund (SGRF) inked a joint venture agreement to establish a fund, which will be expanded to US$1.5 billion in due course. The fund will explore opportunities in all sectors, according to the agreement. The initial corpus will be contributed equally by SBI and SGRF and both sides will manage the fund jointly. […]
With the improving domestic entrepreneurial environment and favourable investment scenario, the venture capital industry in India and other emerging markets is expected to expand in the next five years, while it may shrink in developed nations, says a survey. According to Deloitte's 2010 Global Venture Capital Survey, the majority of venture capitalists in China, India and Brazil expect the number of venture firms to increase between now and 2015, while 62 per cent of respondents globally expect the number of venture firms to decrease during the same timeframe. The report said that 99 per cent of respondents in China expect the number of venture capital firms to increase in their country in the period under review, followed by Brazil (97 per cent) and India (85 per cent). […]
Brothers Malvinder and Shivinder Mohan Singh on Thursday launched their open offer for Singapore-based hospital operator Parkway Holdings Ltd—marking the beginning of a share acquisition race between their Fortis Healthcare Ltd and Malaysia’s state investment firm Khazanah Nasional Bhd. The open offer was made through RHC Healthcare Pte Ltd, an investment vehicle that’s 49% owned by Fortis and 51% by the Singhs. On 1 July, RHC said it would offer to acquire all of Parkway’s shares for $3.2 billion (Rs10,624 crore), or at S$3.80 a share, marginally higher than Khazanah’s offer of S$3.78. RHC’s price is also a 25.8% premium over Parkway’s closing price a day prior to Khazanah’s offer for a partial stake purchase. […]
Inmobi, a mobile advertising network company, on Tuesday raised $8 million venture capital funding from global investors Kleiner Perkins Caufield & Byers and Sherpalo Ventures. The firms had earlier also invested in the Bangalore-based start-up, which now has a total $15.6 million in venture capital funding. The company is expected to use these funds to accelerate growth in markets such as the USA, Europe and Japan, as well as to double its engineering staff. India-based start-ups are emerging as front-runners in the global digital advertising industry. “These cross-border digital advertising firms from India are focusing on developed markets and are using India as a lower-cost back-end for their technology operations,” said Arun Natarajan, CEO, Venture Intelligence. Typically investors such as Sherpalo and KPCB are investing in digital advertising start-ups that are building technology in India. […]
Digital media network company Komli Media raised $6 million of venture capital funding from existing investors Nexus Venture Partners, Helion Venture Partners and Draper Fisher Jurvetson. “The funding will be used to accelerate the company’s overall growth, including its expansion across Asia Pacific. The team at Komli Media has been focused on developing technology to help the online advertising ecosystem and this core investment in its platform is driving rapid progress in its mission to be a leader in Asia Pacific’s markets,” said Ashish Gupta of Helion Advisors, which was lead investor in the current round of funding. In June, the Mumbai-based start-up had acquired Australian website representation firm Post Click to extend its reach in the region. Komli Media’s digital media network represents over 1,500 websites today, including sites such as Facebook, Expedia and Bloomberg. […]
Mumbai Angels has invested in Pune-based supply chain solutions firm Algorhythm Tech Pvt Ltd. Algorhythm has created a proprietary software platform embedded with Advanced Optimization Engine for customizing highly effective supply chain solutions. The amount invested or stake taken were not disclosed. The company was set up by Ajit Singh (Chief Software Architect), Sandeep Pendurkar (COO) and Abhaya Borwankar (CEO). Gulu Mirchandani, owner of MIRC Electronics and part of Mumbai Angels, is the company chairman. Algorythm's clients include firms like Unilever, Nestle, Coca Cola, GSK, SAB Miller, Reckitt Benckiser in the CPG space, and Essar Steel, Uttam Galva, Thyssen Krupp, Mukand Ltd. etc. in the metals space. […]
IL&FS Investment Managers promoted IL&FS India Realty Fund II will invest Rs 80 crore in Aria Hotels and Consultancy Services Private Limited, a subsidiary of Asian Hotels (West), for a third of its stake. Asian Hotels will utilise this fund to develop a high-end hotel in Delhi along with its partner Marriott International, a top Asian Hotels official said. “IL&FS India Realty Fund II will invest Rs 80 crore in Aria Hotels and Consultancy Services Private Limited, which will be used for developing a five star hotel in Delhi along with Marriott International,” Asian Hotels (West) Chairman and Managing Director Sushil Gupta told reporters here. “We have entered into a 30-year management contract with Marriott International to develop the first JW Marriott hotel in Delhi with over 500 rooms at a project cost of Rs 700 crore,” he said. […]
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