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India’s biggest engineering and construction conglomerate Larsen and Toubro Ltd (L&T) is planning to acquire the entire stake of US-based Flowserve Corp. in their 50:50 joint venture (JV) Audco India Ltd, according to an internal discussion held last week, to strengthen its core valves business. The development was confirmed by three company executives who declined to be named as they are not company spokespersons. They said the company is reviewing its partnerships and will mostly seek majority shareholding in JVs […]
PE firm L Capital is in talks with top Indian designers to create an Indian luxury house on lines with its parent company — Paris-based LVMH Moet Hennessy Louis Vuitton. According to sources, the company is in final stages of talks with two of India’s top fashion designers — Rohit Bal and Sabyasachi Mukherjee – along with specialist multi-designer retailer Evoluzione for the planned venture.
Along with consolidating their separate labels under a single corporate structure, each of them will […]
India has just got its first hedge fund, with the Mumbai-based Forefront Alternative Investment Trust registering itself with the Securities and Exchange Board of India (Sebi) under the new alternative investment funds rules, which were notified in May.
The list of new AIFs put up by Sebi over the weekend placed Forefront Alternative Investment Trust in Category-III, a segment reserved for hedge funds.
As per Sebi’s May notification, a Category III AIF can employ “diverse or complex trading strategies and […]
Private Equity players have offloaded stakes worth $108 million in the second quarter of this year through 12 transactions, a decline of a whopping 89 per cent from the comparable period a year ago.
According to a research report by PricewaterhouseCoopers, in the April-June quarter there were just 12 private equity exits worth $108 million, witnessing a decline of about 89 per cent in terms of value and 33 per cent in terms of number of deals a year ago.
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Kamdhenu Ispat today said it is in talks with private equity firms to raise up to Rs 100 crore for setting up a plant to produce raw material for its paints division and meeting working capital needs. “We are in talks with private equity firms, both domestic and international, to raise up to Rs 100 crore for expanding the paints division. The deal is likely to happen in a couple of months from now,” Kamdhenu Ispat’s Chief Financial Officer Harish […]
Bigtree Entertainment, the Network18 backed company which runs movie and event ticketing website, BookMyShow, has raised $18 million or Rs 100 crore from Accel Partners, acquiring a minority stake in the company, reports The Times Of India. The report mentions that the investment was made by Accel’s US and India funds, and that BookMyShow will use the funds to expand into tier-II and III cities and for increasing its non-movie ticketing business. The funding was first reported by Mint, quoting […]
US private equity firm Kohlberg Kravis Roberts & Co LP (KKR) is in early stage discussions to raise $750 million to $1 billion (Rs4160 crore – Rs5,546 crore) for investing in India, Reuters yesterday reported in the US, citing sources with direct knowledge of the matter. The move comes even as New York-based Apollo Global Management is already in the process of raising a $1-billion India-focused debt fund in partnership with India’s lrgest private sector bank, ICICI Bank. New York […]
Standard Chartered Private Equity (SCPE) has invested Rs 250 crore to pick up a minority stake in Vadodara-based Inox India Ltd (INOXCVA), a manufacturer of cryogenic storage and transportation equipment. Cryogenic storage equipment is a precision engineering product used for storage and distribution of liquefied gases used in industrial applications. The growing use of shale gas as a fuel source has also resulted into strong demand for cryogenic storage equipment for liquefied natural gas (LNG) across the globe, especially in […]
At 300 metres and 80 floors, realty player Supertech’s Spira Residence will be India’s tallest mixed use development project. The company said it is looking to attract private equity behemoths to the project. Supertech said it has raised Rs 750 crore debt from bankers while the US-based private equity player Walton has pumped in Rs 100 crore into the residential project, which is part of the Supernova project. The total project is estimated at Rs 2,700 crore and will be […]
Supertech on Friday said it will raise Rs 750 crore through private equity to fund the development of its mixed-use premium project in Noida with an investment of about Rs 2,700 crore.
It has already raised Rs 100 crore from US-based private equity firm Walton Street Capital.
“We are launching today 78 high-end luxury apartments priced between Rs 5 crore and Rs 7 crore in the ‘Supernova’ project,” Supertech Chairman R K Arora told reporters here.
The company would develop […]
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