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Biotech firm Actis Biologics said it is looking to raise USD 400 million for its operations in India, the US and Malaysia. “We want to raise USD 250 million to invest in Malaysia, USD 100 million in India and USD 50 million in the US,” Actis Biologics President PN Venugopalan told PTI. The company is in talks with a US-based fund and a UK-based fund to raise USD 250 million for the Malaysian project. “We expect to raise USD 250 million in the next four months for the Malaysian project. Once that is in place, then we will look funds for the Indian and the US operations,” he said. […]
India's largest hospital chain, Apollo Hospitals Enterprise Ltd, is eyeing a stake in unlisted Wockhardt Hospitals Ltd, a senior company official said on Tuesday. Wockhardt Hospitals, promoted by the founders of drug maker Wockhardt Ltd, has been trying to raise money through an equity sale since its initial public offer was withdrawn last year on poor investor response. “Currently, we are just examining the books, and we are looking at the hospitals, their performance and complete valuation and diligence exercise,” Suneeta Reddy, Apollo's executive director-finance, told news channel NDTV Profit. […]
IndiGo Airlines Pvt. Ltd., a low-fare Indian carrier, denied Monday reports it is in talks to sell a stake or merge with another domestic airline company. Indigo's statement came after local media reports the airline has been in talks with rival budget carrier SpiceJet Ltd. to form an alliance or sell a stake. “As a matter of company policy, we do not comment on market rumors,” IndiGo President Aditya Ghosh said in the statement. “However, on this occasion, we feel it is necessary to categorically state that there is absolutely no truth or basis to any of these rumors, market speculation or media reports.” […]
World Bank’s private sector lending arm, International Finance Corporation (IFC), has said two funds supported by it are ready to pick up equity worth $1.7 billion (about Rs 8,500 crore) in infrastructure projects in India, a move that will help the country’s economy arrest the impact of the global financial meltdown. “We have mobilised $1.7 billion. The funds are expected to generate a total investment of $5-8 billion over the next three-five years,” said Anita George, IFC’s director for infrastructure (Asia and Africa). The funds, she said, would be used in picking up equity in the infrastructure sector projects and would be in addition to the regular operations of IFC in the country. […]
Twenty-eight years after he started Infosys with Rs 10,000 borrowed from his wife, NR Narayana Murthy, whose personal fortune today is said to be worth around $1.8 billion, wants to start a venture fund to invest in new ideas that create value for society. In an exclusive chat with ET, the chairman and chief mentor of India’s second-largest IT firm, said there are tremendous investment opportunities beyond computers and high-tech areas. Ideas from rural areas need to be encouraged and the urban poor need the right handholding, mentoring and capital to grow. “I find youngsters want to do all kinds of things. There are people who want to create wealth by booking tickets. There are people who are creating wealth by enhancing the efficiency of production lines. There are people who are creating wealth by providing efficient, decent and cost-effective means for the corporate world. They all have great ideas,” he said. […]
The board of Maytas Infra Limited met here on Friday under the chairmanship of K Ramalingam, and Anil K Agarwal, O P Vaish and Ved Jain all government-nominated directors along with Teja Raju, vice-chairman and whole-time director and B Narasimha Rao, the whole-time director, according to a company release. The board had extensive discussions on the business plan, orders in hand and under execution. More importantly, it also had discussions with bankers as well as the chairman of IL&FS Infrastructure Leasing and Financial Services (IL&FS), Ravi Parthasarathy, amid reports that it appears set to take over Maytas Infra soon. Interestingly, IL&FS owns a 37% stake in Maytas Infra. […]
In a move that signals a fresh round of consolidation in the recession-hit aviation industry, budget carrier SpiceJet may pick 7.5 per cent stake in another low-cost airline IndiGo. “SpiceJet is in talks with IndiGo to purchase 7.5 per cent equity in the airline,” an industry source said on condition of anonymity, but key officials of both SpiceJet and IndiGo refused to comment on what they called rumours and market speculation. SpiceJet is also looking for a position on the IndiGo Board, the source said, adding that “they are still discussing what the price should be”. SpiceJet chief executive officer Sanjay Aggarwal said, “We do not comment on such rumours and speculations”. […]
Ms Ramnath, who has been heading ICICI Venture fund since 2001, is likely to put in her papers on April 20, when the company’s board meets. The ICICI Group could also witness another change at a senior level over the next few days. Shikha Sharma, MD of ICICI Prudential Life Insurance, the largest private sector life player in India, may also put in her papers and move to Axis Bank. ET had first reported the likelihood of the two honchos putting in their papers in its edition dated February 12. Ms Ramnath is believed to have apprised senior ICICI Bank officials of her decision to quit earlier this week. Officials privy to information said Ms Ramnath is likely to float her own fund along with a couple of other ICICI Venture colleagues. Ms Ramnath was not available for comment. When contacted, an ICICI Bank spokesperson said, “We do not comment on speculation.” […]
Foreign private equity investors are eyeing the Indian real estate market to buy properties from small and mid size developers badly hit by the economic downturn. A clutch of big investors from the EU and Middle East are expected to invest $400-500 million in distressed land deals. These include Spain’s Nova Capital; Germany’s SachsenFonds, Qatar based Barwa International and Al Aqueela, UK’s Matrix Partners and Aberdean International. “In the next six months, we will see lot of distressed real estate deals in India. […]
Private equity players have made investments of $230 million in the microfinance sector in the last two years and the outlook for this segment looks upbeat as it provides a refuge from the global financial market turmoil. According to data compiled by Venture Intelligence, a research service focussed on private equity and venture capital, the microfinance sector witnessed as many as 14 deals worth $230 million during January 2007-March 2009. “Microfinance is sufficiently insulated from the global financial downturn. Besides, this sector provides a good way for investors to diversify their portfolio at a time when the urban and manufacturing-related sectors are witnessing a slump,” Venture Intelligence Managing Director and CEO Arun Natarajan said. […]
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