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The consumer story in India makes fast moving consumer goods (FMCG) space an attractive destination for private equity and venture capital investors. Compared to the typical $20-50 million deals that took place in the past few years, 2012 witnessed one of the largest PE deals in FMCG space with the Singapore Government owned Temasek Holdings buying a five per cent stake in Godrej Consumer Products Ltd (GCPL) for Rs 685 crore ($135 million). Following Temasek’s investment, the FMCG sector witnessed […]
Reliance Capital today said it has got approval from the Indian market regulator Sebi and the Monetary Authority of Singapore (MAS) for Rs 1,450-crore stake sale in its mutual fund business unit to Japan’s Nippon Life. Anil Ambani-led Reliance Group’s financial services arm Reliance Capital (RCAP is selling 26% stake in Reliance Capital Asset Management Co (RCAM), which runs India’s most profitable mutual fund, to the Japanese firm. In a statement issued today, Reliance Cap said that it has received […]
Kaizen Management Advisors Private Limited, an education focussed Private Equity fund has invested Rs 20 crore in Your Kids ‘R’ Our Kids (India) Private Limited (YKROK). YKROK is a pre-school providing child care services also. It has more than 1,500 kids across 15 self-managed centers across India. These centers are in partnership with 50 corporates. All the centers are either near corporate campuses or on campuses of corporate sponsored child care programs. “Corporates are increasingly using day care services as […]
Private equity (PE) players, who burnt their fingers following big-ticket deals in India’s power sector, are now showing interest in less risky road projects. Morgan Stanley Infrastructure Partners, a $4-billion global infrastructure fund, is in early discussions with infrastructure company Lanco Infratech to buy its 401 km of highway projects, in various stages of construction, which are up for sale. A few other infra-focused PE firms are also engaged in due diligence for Lanco’s road assets. The valuation was in […]
Insecticides (India) Ltd, or IIL, on Monday said it is in talks with private equity investors to raise Rs. 70-100 crore this year for its expansion, by diluting 7-8% of the promoter stake in the company. The Delhi-based pesticide maker has lined up investment plans worth Rs. 125 crore for the next two years for augmenting capacity and launching products. “So far we expanded our business using internal accruals and bank debt, but now we thought it is prudent to […]
Warburg Pincus LLC has agreed to buy a controlling stake in Future Capital Holdings for nearly $100 million, helping the U.S. private equity firm to expand its presence in India’s financial services sector. Future Capital, which provides consumer and mortgage loans, said in a statement Warburg would initially buy a 53.7 percent holding from group company Pantaloon Retail. The deal at 162 rupees per share, or 18 percent premium to Future’s Friday’s closing price, would cost Cloverdell Investment, an affiliate […]
Global private equity majors and large buyout funds are understood to be in advanced discussions with the promoters of Kurlon Ltd, to acquire a minority stake in the company. Kurlon Ltd is a Rs 750 crore group company of the Manipal Group has around 20 per cent market share in the Rs 4,000 crore branded mattresses business in India. According to investment bankers close to the company, Apax Private Equity which focuses on large transactions including taking management control is […]
U.S. private equity firm Apollo Global Management and ICICI Venture, the private equity arm of No.2 Indian lender ICICI Bank, are close to raising $350 million to invest in distressed assets in India, two sources with direct knowledge of the matter told Reuters. Few funds in India specialize exclusively in distressed assets, but a sharp slowdown in economic growth is expected to create opportunities to invest in struggling companies. U.S. private equity firm Apollo Global Management LLC (APO.N) and ICICI […]
Jindal Steel and Power will acquire a little over 10 per cent stake in Gujarat NRE Coal’s Australian subsidiary, Gujarat NRE Coking Coal Ltd, for AUD 25 million (about Rs 135 crore). Besides, JSPL will also buy 5 million tonnes of coking coal over a 10-year period from the Australian subsidiary of the Kolkata-based firm, Gujarat NRE said in a filing to the BSE. “Gujarat NRE Coking Coal Ltd is pleased to announce that it has entered into an Option […]
According to reports, private equity firms Blackstone and Carlyle have pulled out of their proposed deal with Reliance Communications. If finalized, they would have owned a majority stake in the telecom service provider’s telecom tower unit. Mr Anil Ambani’s Reliance Communications has long been looking for prospective buyers. Blackstone and Carlyle were reportedly on the final stages of buying a 95% stake in Reliance Infratel tower unit. The company is severely cash-strapped, and saddled with a debt equaling almost $7 […]
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