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Bollywood actor Shilpa Shetty and London-based NRI businessman Raj Kundra on Tuesday bought a 12 per cent stake in the Indian Premier League (IPL) team Rajasthan Royals. The couple has invested $15.4 million in the team, which was bought by London-based Emerging Media Group for $67 million. Shilpa called it a strategic business investment and said: “I completely relate to Rajasthan Royals. My story is similar to the team's journey to the top. It is an honour to be a part of Rajasthan Royals.” “Whenever the team needs me I will always pitch in. I will be the moral support of my team. The team needed an Indian owner and so I am here,” she added. […]
Tata Capital, financial services arm of Tata Group is mulling to set up its private equity (PE) business by the end of first quarter of the next financial year, reports Economic Times. The funds required for the business would be raised by company along with third-party investments. The company is already in talks with domestic and international players for third-party investments, disclosed company`s managing director and CEO Praveen P Kadle. He also said that the PE firm in its first round would fund around USD 350 million to USD 500 million across all sectors. […]
Companies seeking to take the buyback route for FCCBs (foreign currency convertible bonds) amid sharp fall in the bond prices are approaching private equity investors to fund buy, an investment banker said. The Reserve Bank had recently relaxed norms for companies opting for buyback of FCCBs. Over a dozen listed Indian entities have already approached the RBI for approving the buyback and many more are finalising their plans. Jefferies India, a subsidiary of the US-based Jefferies Group, Managing Director and Country Head Sidharth Punshi said that over 200 companies have raised $20 billion in FCCBs over the last few years. After the recent meltdown, majority of the FCCBs have been trading at a discount of 30-70 per cent to the issue price, he said. […]
DLF Ltd, India’s top listed real estate firm, hopes to raise Rs20-25 billion ($408-510 million) from private equity (PE) investment in its property trust in the March quarter, its vice chairman Rajiv Singh said on Monday. Rajiv Singh said property prices could fall by up to 15% in the next three months. New Delhi-based DLF on Saturday reported a 69% fall in quarterly profit to Rs6.71 billion ($137 million), while its revenue fell by 59%.(Livemint) […]
Helion Venture Partners on Monday announced an investment of Rs 20 crore in GETIT Infoservices (P) Ltd, producer of yellow pages and directories in India. Helion Advisors Director, Rahul Chandra said the investment would be directed towards expanding GETIT's service offerings across multi-access channels. As a result of this investment, Chandra would join the Board of GETIT. […]
Kamat Hotels India today said it has decided to divest its 60 per cent stake in the subsidiary, Concept Hospitality Ltd to other group of shareholders. The company in a filing to the Bombay Stock Exchange said that the board at its meeting held on February 1, decided to divest its stake in its subsidiary. Further, the company has authorised the Executive Chairman and Managing Director to do all necessary acts, deeds and to sign necessary documents in this regard, the filing added.(Business Standard) […]
According to the share-swap deal, Cellucom will take 26% stake in Spice Group’s mobile retail venture HotSpot while Spice Corp will buy 100% shares in Cellucom. Spice Group has reportedly bought 100% stake in the Indian arm of Cellucom, a Dubai-based mobile retail chain. According to the share-swap deal, Cellucom will take 26% stake in Spice Group’s mobile retail venture HotSpot while Spice Corp will buy 100% shares in Cellucom. […]
Unitech, India’s second biggest realty firm by market cap, is in talks with three private equity players to sell about 20-26% of its equity for an estimated Rs 2,500 crore, according to a company official. The funds would go into diluting its debt load, which is currently at Rs 8,000 crore. A Unitech board meeting on Saturday approved the proposal to offload stake in the company, and the management is in talks with international private equityfunds such as TPG Axon, SUN Apollo and Bergruen Holding, said the official who didn’t want to be identified. The company would also raise Rs 750 crore by selling its five-star hotel in Gurgaon and an office complex in south Delhi’s Saket business district. “This will make it one of the most under leveraged real estate companies in the country,” he said. For its planned stake sale, Unitech has hired UBS Advisor, which had earlier helped the company in its telecom venture, Unitech Wireless Ltd. […]
Norwest Venture Partners (NVP), promoted by angel investor Promod Haque, will invest Rs.200 million (Rs.20 crore) in infrastructure management services firm Appnomic Systems, it was announced here Wednesday.The venture fund will be invested to expand into the US market and build innovative product and service offerings, the Bangalore-based Appnomic said in a statement. “The fresh investment will also enable us to strengthen our presence in India, the Middle East and Africa markets,” Appnomic chief executive D. Padmanabhan said. With the first institutional funding in the IT services firm, NVP managing partner Haque will join the Appnomic board. […]
Making its first international foray, Fortis Healthcare is investing $3.5 million for picking up a 58% stake in a hospital in Mauritius.Fortis has tied up with a diversified industrial group based in Mauritius, CIEL to acquire a controlling stake in Clinique Darne, now rechristened Fortis Clinique Darne. “Our total investment is $7 million which will be shared jointly between the partners,” Fortis Healthcare CEO and MD Shivinder Mohan Singh told TOI, adding “going international is not a focus for the company and this is a one-off growth opportunity which the group spotted and has invested in”. The 120-bed hospital is an interesting opportunity, as it would enable Fortis to leverage medical value travel by creating a gateway to the group's network in India, and develop it as a hub for medical tourism in Mauritius, he said. […]
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