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Parsvnath Developers (PDL), one of India`s leading real estate and infrastructure providers has inked an agreement with leading international real estate private equity fund Red Fort Capital to sell 4% additional stake for Rs 250 million in its premium luxury residential project at Civil Lines, Delhi. With this additional stake the total investment of Red Fort Capital Parsvnath La Tropicana will increase to Rs 1, 150 million from Rs 900 million. […] LT Foods today announced that it is planning to sell its about 14.73% stake to two investors on a preferential basis for raising funds to up to Rs 254 million. In principal, the board has reached an understanding with Indian Agri Business Fund and Real Trust for making investment to the tune of Rs 254 million for acquiring about 14.73% equity shares of the company. Besides, the investors have also in principle consented to invest Rs 233 million into an unlisted subsidiary company Daawat Foods to acquire its 26.28% equity shares. […] Engineering major, Larsen & Toubro (L&T) today said it has got approval of its shareholders to raise up to Rs 2,400 crore (USD 600 million) through issue of securities on a private placement basis. Shareholders of the company have given their consent for raising funds by way of qualified institutional placement of securities, including shares and debentures, L&T said in a statement to the Bombay Stock Exchange (BSE). “This QIP (qualified institutional placement) issue shall be completed within 12 months from the date of this annual general meeting,” the company said. […] US-BASED global investment management firm T Rowe Price is set to pick up a 26% stake in UTI Asset Management Company (UTI AMC) for $135 million (around Rs 650 crore). This sum works out to 3.6% of assets managed by UTI AMC as on August 31, 2009. “An in-principle approval from all shareholders has already come in and legal documents have been drafted. The agreement will be signed shortly,” said a senior official at one of the four promoter institutions. UTI MF’s four stake holders are SBI, LIC, Bank of Baroda and Punjab National Bank. The stake sale was initiated in March this year, and the bidding process completed in July, with UTI AMC selecting T Rowe Price over other bidders. According to an official involved with the deal, T Rowe Price will also be investing in UTI’s venture capital company and also in its private equity fund. […] The government today allowed Bangalore-based private equity firm, Forum Synergies (India) PE Fund Managers, to receive up to $135 million (about Rs 650 crore) foreign direct investment (FDI) from Mauritius-based Knowledge-Manufacturing Company. “The Cabinet Committee on Economic Affairs gave its approval to the proposal of Forum Synergies (India) PE Fund Managers to accept contribution up to a limit of $135 million from India Knowlege-Manufacturing Company under FDI route,” an official statement said here. This would result in FDI of around Rs 650 crore into the country, the statement added. The Mauritius-based Knowledge-Manufacturing Company will in turn get units in the private equity firm. […] Natural Energy Processing Company (NEPC) India Ltd is planning to set up a special economic zone (SEZ) at Palladam near Coimbatore with an investment of around Rs 2,000 crore. The company is also talking to private equity investors to fund the project. Ravi Prakash Khemka, chairman NEPC India Ltd said that the company is planning to set up solar and Photo Voltaic plant in the SEZ, to which the construction is expected commence from January 2009. Total investment would be around Rs 2,000 crore. Once the project takes shape, the company is expecting Rs 4,000-5,000 crore from investors and would provide employment to 5,000-6,000 people both directly and indirectly. […] Kaizen Management Advisors, India’s first education-focused private equity (PE) fund, will close a $150-200 million (around Rs 720-960 crore) fund by the middle of next year. The fund is looking at investing in two education institutions by the end of this year. Kaizen was set up in mid-2009 and has a 10-member team in India. At present, it is managing capital raised from domestic institutions and high networth investors. “Later this year, we will target international investors who are keen to tap the massive recession-proof education sector in India. We are currently evaluating more than a dozen investment opportunities,” said Sandeep Aneja, MD, Kaizen Management Advisors. […] Financial Technologies India, promoter of country's leading commodity exchange MCX, today said it will raise Rs 1,500 crore by issuing shares in the international markets and by private placement of shares with buyers. The company would raise funds by issuing shares in the form of Global Depository Receipts, American Depository Receipts and Foreign Currency Convertible Bonds, Financial Technologies said in a filing to the Bombay Stock Exchange […] Private equity firm Rabo Equity Advisors, a part of Dutch banking major Rabobank, on Tuesday said it has picked up 26% stake in Geepee Agri Private Ltd for an undisclosed amount. The stake has been purchased through its India Agri Business Fund, Rabo Equity said in a statement. Geepee Agri, which has plants at Kota in Rajasthan and Akola in Maharashtra for crushing oilseeds, is planning an expansion in the palm oil segment. Currently, the company distributes refined soyaoil under its brand “Parampara” in Rajasthan, Maharashtra and Chhattisgarh. […] U.S. buyout giant Carlyle sees more deal opportunities in Southeast Asia than in India and is ready to make more investments in the next 20 months as the regional economy recovers fast, a senior executive said. X.D. Yang, a managing director for Carlyle's buyout fund in Asia, said on Thursday that the so-called Greater China area, including Hong Kong, mainland China and Taiwan, remained a regional deal focus for Carlyle, although he acknowledged difficulties in doing controlling deals in China. Buyout opportunities for private equity firms among Indian companies are limited because Indian firms find it easy to list on the domestic stock market and many family businesses are not up for sale, Yang told Reuters on the sidelines of the SuperReturn Asia Conference. […] |