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The total M&A and PE (incl. QIP) deals in the month of June 2010 were valued at US$13.74bn (67 Deals) as compared to US$1.38 bn (43 deals) and US$6.30bn (72 Deals) in the corresponding month of 2009 and 2008 respectively. The total value of outbound deals (Indian companies acquiring businesses outside India) in June 2010 was US$0.13 bn (17 deals) as compared to US$0.14 bn (4 deals) and US$1.89 bn (18 deals) during the corresponding month in 2009 and 2008 respectively. The total value of inbound deals (foreign companies or their subsidiaries acquiring Indian businesses) in June 2010 was US$0.41 billion (6 deals) as compared to US$0.12 billion (10 deals) and US$2.42 billion (11 deals) during the corresponding month in 2009 and 2008 respectively. […]
The fragmented media industry is heading for several mid-sized deals in coming quarters as cash-rich regional players try to expand, while larger but loss-making operators look to consolidate around core segments. The $12 billion media and entertainment industry, which has seen a handful of recent mergers, is poised for a wave of small to mid-sized deals across radio, television, newspapers and cable distributors, bankers and analysts said. “There is some appetite now for mergers and acquisitions,” said Jehil Thakkar, media analyst at KPMG Advisory, who expects deals worth a total $100-$150 million in the sector. “Industry is still recovering, not recovered. So people who need to cash-out will see it as an opportunity to do so in the next few months,” he said. […]
India's largest private-sector lender ICICI Bank said its private equity arm–ICICI Venture Capital Fund—-would set up an infrastructure equity fund. It had also called for measures to enable higher infrastructure financing by banks, say reports. On the sidelines of a conference on state highways on Monday in New Delhi, ICICI Chief Executive Officer & Managing Director Chanda Kochhar said infrastructural lending by banks had risen to $67 billion from $2 billion in the last 10 years, adding that the debt requirement could be as high as $500 billion during the 12th Five Year Plan (2012-17). ICICI Bank has advanced Rs.12,000 crore for state highway projects since its inception 55 years ago. Of this, its own money was Rs.5,000 crore and the rest was secured through syndication with other banks, she said. […]
As part of the growth plans, IT hardware and electronic firm Intex Technologies is planning to secure $65 mmillion from private equity investors in the next three-five years. The company is targeting a 100 percent growth in revenues for 2010-11 to Rs. 1,200 crore from Rs. 593 crore, reports Kirtika Suneja of Business Standard. The company has grown at a compounded annual growth rate of 38 percent over the last five years. “We are looking at a five-year plan for PE funding and are in talks with six PE players as of now before we go for an initial public offering (IPO). We will also be ploughing back some resources. Also, we are looking for strategic PE investors and not only a financial investor,” said Ramesh A Vaswani, Executive Vice Chairman, Intex. As for the IPO, Intex plans to get listed on Indian stock exchanges in the first phase before it looks at other bourses. Moreover, the company is eyeing huge revenue growth from its small format retail stores, called Intex Square, which are 18 in number but will rise to 100 by March next year. […]
IT hardware and electronics company Intex Technologies (India) is targeting 100 per cent growth in revenues for 2010-11 to Rs 1,200 crore from Rs 593 crore. The company also plans to raise Rs 250-300 crore from private equity (PE) investors in the next three-five years. The company has grown at a compounded annual growth rate of 38 per cent over the last five years. “We are looking at a five-year plan for PE funding and are in talks with six PE players as of now before we go for an initial public offering (IPO). We will also be ploughing back some resources. Also, we are looking for strategic PE investors and not only a financial investor,” said Ramesh A Vaswani, executive vice chairman, Intex. As for the IPO, Intex plans to get listed on Indian stock exchanges in the first phase before it looks at other bourses. Moreover, the company is eyeing huge revenue growth from its small format retail stores, called Intex Square, which are 18 in number but will rise to 100 by March next year. […]
Though private equity fund raising across the globe touched a seven-year low of $41.3 billion during the April-June quarter, hope is just around the corner, a report by research firm Preqin has said. Providing the proverbial silver lining to the dark cloud, the report stated that the situation is likely to improve in the coming days with fund managers making fresh portfolio allocations. “The $41.3 billion collected by the global private equity industry from 82 final fund closes in Q2 2010 is the lowest since 2003, and is a reflection of the continuing harsh fund-raising conditions for managers seeking capital,” Preqin said. There were a total of 82 funds, which achieved a final close worldwide in the second quarter of this year, raising an aggregate $41.3 billion in capital. During the same quarter in 2009, as much as $76 billion was raised. […]
Forget weekends. It is business and days of big announcements on Sundays for industrialist Anil Ambani, contrary to golf and get-togethers for the rest of the corporate world. While June 18, 2005 — the day of separation for Anil from Mukesh Ambani with the division of the Reliance empire — was a Saturday, it was a Sunday five years later on May 23, 2010, when he announced a patch-up with his elder brother, burying their contentious non-compete agreements. Since then, there has hardly been a Sunday when he did not pull out his top lieutenants and officials from the comfort of their homes to do business and engage the media for a big exposure in Monday newspapers before the stock markets commence trading for the new week — a trend that group officials feel is a legacy from the days of his father, Dhirubhai. […]
Anil Ambani promoted Reliance Natural Resources Ltd. (RNRL) and Reliance Power Ltd. will be merged. This was decided in a meeting of the boards of the two companies today. The all stock deal is pegged at over Rs. 50,000 cr. or $ 11 billion. Shareholders of Reliance Power will get 4 shares of RNRL for every share of Reliance Power. The exchange ratio is based on independent valuation by KPMG. RNRL was born out of the demerger of Dhriubhai Ambani's Reliance empire five year ago. The purpose of creation of RNRL was for sourcing, supply and transportation of fuels, primarily natural gas. As per the demerger scheme, RNRL was to source natural gas from Reliance Industries and trade it to ADAG power plants including the proposed mega 7,800-MW Dadri unit near here being set up by R-Power. […]
Tata Capital, the private equity and financial services arm of the Tata group, is looking at over Rs 600 crore investments for its standalone healthcare fund. The Tata Healthcare Fund will look at taking minority stakes in fast-growing healthcare and pharma companies in India. This fund, which is starting to find its feet, is spearheaded by Visalakshi Chandramouli, who was with Merrill Lynch and Cipla Pharmaceuticals earlier. The domestic component of the fund is understood to have been assigned a target size of up to Rs 200 crore. The offshore component of the fund is being co-partnered by Tata PE along with HBM Partners, a Switzerland-based global investor in early-stage life sciences and healthcare companies. This offshore fund is expected to mop up $70-100 million (Rs 325-465 crore), according to investment bankers. […]
Yet another pure private equity player is looking to list on stock exchanges. Milestone Capital Advisors has filed a draft-red-herring prospectus with the Securities and Exchange Board of India for an initial public offering (IPO). It would be the first private equity (PE) fund since IL&FS Investment Managers to raise capital through this route. Two other entities listed on the stock exchanges — IndiaCo Ventures and Future Capital Holdings — also have private equity businesses, though both are also involved in investment advisory. The latest move raises questions on the valuation of such companies and whether Indian investors are ready for them, considering the business model is completely different. […]
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