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The Aureos India Fund and ePlanet Ventures have invested US$16 million in Indian container logistics and warehouse management services company Continental Warehousing Corporation (Nhava Seva) Limited (CWCNSL), part of the NDR Group. The Aureos India Fund, an initiative of Aureos Capital, a private equity fund management company specialising in investing in small to mid-sized businesses in emerging markets, has invested US$10 million in CWCNSL. ePlanet Ventures, a leading global venture capital and private equity firm headquartered in Silicon Valley, has invested US$6 million. CWCNSL commenced its operations in the year 2005 and in the last year reported consolidated revenues of Rs.1.5 billion (US$ 31.5 million). […]
The Times of India Group is likely to acquire a 10 per cent stake in film production and distribution company K Sera Sera Productions. The Times Group, which is a part of Bennett Coleman & Co. Ltd, has shown interest and in-principle agreed to subscribe the warrants of the company. K Sera Sera board of directors will be meeting on 7 September to consider the issue of convertible warrants to The Times Group up to 10 per cent of the capital of the company. […]
Salon chain Naturals’ is looking for a Rs 100-crore PE infusion to go national. The amount will be raised in two tranches of Rs 50 crore each, for a 25-30% stake in the company. It is gleaned from sources that Aditya Birla Group’s private equity arm Aditya Birla Private Equity Fund, Peepul Capital and TVS Capital are in the fray. Confirming that all the three funds had approached the company, the 40-outlet chain Naturals promoter CK Kumaravel said it has appointed Veda Corporate Advisors to finalise the transaction. “The private equity partner would be decided upon by the month-end and the deal inked by December,” he told ET. […]
Mumbai-based Time Technoplast has notified that it has entered into an agreement to acquire majority stake in Kompozit-Praha, Czech Republic, for $5.20 million. The company signed a memorandum of understanding (MoU) with Kompozit-Praha, a composite cylinder manufacturing company, to acquire 70 per cent stake in latter. […]
The financial services unit of Larsen & Toubro Ltd is in talks to buy Cholamandalam DBS Finance's domestic mutual fund operation, two sources familiar with the matter said. “We are working on their behalf,” one source said, referring to L&T Finance, a wholly owned unit of L&T. “We can't share details at the moment. Let's wait for the transaction.” Officials at Cholamandalam DBS, a joint venture between India's Murugappa Group and Singapore's DBS Bank that run DBS Cholamandalam Asset Management, could not be immediately reached for comment. Another source said Edelweiss Capital was the advisor for the asset manager. […]
ArcelorMittal on Friday said that it plans to launch a tender offer today for the acquisition of 29.4% shares in Uttam Galva Steels Limited , an Indian producer of cold rolled steel, galvanized products and colour coated coils & sheets. For the year ended 31 Match 2009 Uttam Galva had a turnover of USD890m and net profit after tax of USD21m. The tender offer is priced at INR120 per share, which reportedly represents a 27% premium over the two weeks volume weighted average and of 85% over the six month volume weighted average. The spurt in the shares may make the offer unattractive to individual shareholders, Uttam Galva Director Ankit Miglani said. The Miglani family will sell more shares to ArcelorMittal should the offer be unsuccessful, he said in a phone interview today. […]
Healthcare Global Enterprises, the Bangalore-based cancer care provider, is close to raising $10 million (around Rs 50 crore) from Milestone Capital, a India-focussed private equity fund. Healthcare Global has so far raised close to Rs 150 crore by divesting just under 50 per cent through three rounds of funding from IDFC Private Equity, Premji Invest and Evolvence India Life Sciences Fund. The promoters led by chairman and CEO B S Ajai Kumar hold 32 per cent, while the rest is held by a few other individuals and corporates. […]
The global venture capitalist Draper Fisher Jurvetson (DFJ) is seeking broader investment opportunities with two of its family funds DFJ Growth Capital and Element Partners — kicking off action in India. This coincides with DFJ embracing local entrepreneurship focusing on India’s bottom of the pyramid as well as rising middle-class, offering unprecedented breadth in investment choices, its managing directors Andreas Stavropoulos and Josh Stein told ET. […]
A majority of private equity (PE) players in the country expect a decline in activity in 2009 with only 28% expecting the scenario to improve over the same period, according to a Grant Thornton survey on mergers and acquisitions (M&As) and PE investment scenario in India. 58% agree that the turmoil has affected M&A activity, but 45% believe that current valuations will increase deal activity in the short-term and more than 88% of the respondents believe that M&A is an integral part of their organisation's business strategy for growth. […]
Financial services entity Religare Enterprises expects to close its first Rs 600-crore private equity fund, launched in joint venture with UK-based Milestone Capital, by April next year. “The fund raising work is in progess… We hope to close the fund by April 2010,” Religare Enterprises President Health Care Amit Varma said. Further, the company would be looking at exercising the green-shoe option of raising another Rs 200 crore for the fund — India Build out Fund I — depending on market conditions. […]
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