|
|
Mahindra Holidays & Resorts, part of $4 billion Mahindra Group, will offer 1 per cent stake in the company to Jacob Ballas India Fund through a private placement basis for a consideration of around $10.06 million (Rs 39.50 crore). The pre-IPO placement deal values the hospitality arm of automaker Mahindra & Mahindra at around Rs 4,000 crore. The equity shares to be transferred to NYLIM Jacob Ballas India Fund III, LLC, should be subject to lock-in after the Initial Public Offering as per SEBI regulations, Mahindra & Mahindra informed the Bombay Stock Exchange. New York Life Investment Management LLC (NYLIM) has a shareholding in Jacob Ballas Capital India, a non-banking finance company focused on private equity advisory services. […]
Wadias-promoted GoAir has been approached by various private equity players for acquisition of a minority stake, while valuing the low-cost private carrier at $400 million (about Rs 1,600 crore). Global consulting firm Ernst and Young, on behalf of other players, has approached the company and Wadias have held discussions with them, market sources said. When contacted, a spokesperson for the airline said: “E&Y has approached us on behalf of various buyers who are interested in buying a minority stake in GoAir.” […]
Millennium Private Equity (MPE), an entity regulated by the Dubai Financial Services Authority (DFSA), which is the private equity arm of Millennium Finance Corporation (MFC), the leading international investment bank based in the Dubai International Financial Centre (DIFC), announced that it had established an investment structure with The Investment Corporation of Dubai (ICD) as its sole investor, to invest into an Indian telecoms tower business. MPE committed $100 Million together with other highly reputable investment firms such as Temasek Holdings, Goldman Sachs, Macquarie, AIF Capital, Citigroup and India Equity Partners out of a total investment of $1 Billion into Bharti Infratel (Infratel), a subsidiary of Bharti Airtel Limited, the leading telecoms player in India. […]
NIIT has signed a share purchase agreement to acquire 47.87% stake in Noida-based Evolv Management Services (Evolv) – a provider of English language and communication training – with 100 employees and pan-India presence and delivery capability. Evolv provides training services to clients across IT and ITeS, banking, insurance and telecom. […]
ICICI Venture, the largest domestic private equity fund in the country, has roped in a foreign strategic healthcare investor in its endeavour to become a healthcare investment major in the country. The strategic partner would invest $80 million in IVEN Medicare, the fully-owned subsidiary of ICICI Ventures, to form a special purpose vehicle. “We currently have $80 million in IVEN from ICICI India Advantage Fund Series II and would raise another $90 million through debt. The new entity would have a capital base of $250 million, to start with,” said Alluri Srinivas Rao, director, Investments, ICICI Ventures. Rao said that a formal announcement regarding the tie-up would be made by the end of this month. The new company would acquire majority stakes in key regional hospitals. It will use its large balance sheet and size to buy equipment, help the hospitals raise money and hire doctors. […]
Essar Energy Overseas, a subsidiary of Essar Oil, has entered into an agreement to acquire 50 per cent stake in Kenya Petroleum Refineries (KPRL), a four million metric tonne per annum (MMTPA) refinery, in Mombasa, Kenya. The government of Kenya holds the remaining 50 per cent in KPRL. This will be Essar Oil's first international acquisition in the refining sector. Essar already has three exploration and production blocks in Madagascar and one in Nigeria. Though Essar Oil did not divulge the deal size, it is estimated that the refinery could have cost the company around Rs 3,000 crore. Said an analyst, “It is not a complex refinery and considering that the company would upgrade it by adding secondary units at a project cost of $ 400- 450 million, the cost of the acquisition is likely to be on the lower side.” The government of Kenya and Essar Energy Overseas will equally share the cost of upgrading the refinery. […]
GS Strategic Investments, an indirect wholly owned subsidiary of Goldman Sachs Group, is planning to subscribe up to 39.36 per cent of post-issue paid-up capital of M Pallonji Enterprises Pvt Ltd (formerly Sairam Multitrade Pvt Ltd) for an aggregate consideration of Rs 180 crore. M Pallonji Enterprises Pvt Ltd (MPEL) currently holds 6.07 per cent of share capital of MetLife India Insurance Company (4.62 crore equity shares of face value of Rs 10 each). MPEL plans to acquire 3 crore shares of MetLife from MPG; and following a rights issue by MetLife, it proposes to subscribe to 1.19 crore equity shares of face value of Rs 10 each of MetLife. The move would take MPEL’s holding in MetLife to 10.01 per cent on a fully diluted basis. […]
Koutons Retail, a leading manufacturer of men’s apparel, is acquiring a 51% stake in Delhi-based brand Upper Class. Upper Class has a strong foothold in the ladies’ apparel segment and is expected to compliment the existing brand portfolio of the Rs 800-crore company—Koutons and Charlie Outlaw—and its planned foray into women’s apparel. Koutons, which was listed in October 2007, has a market capitalisation of over Rs 3,000 crore today. Upper Class, promoted by Rajesh Sachdeva and his wife, Amita, specialises in casual bottom wear for women. The Rs 25-crore company has been exporting apparel to leading brands in Europe such as Armand Thiery, Class, F Ferra, Alcorpe English and is available in stores such as Splash and Lulu Center in the Middle East under its signature brand Upper Class. […]
India has the most number of private equity (PE) funds operating amongst the BRIC markets, considered the emerging hotbed of PE action. According to Emerging Markets Private Equity Association (EMPEA) estimates, there are some 89 VC/PE firms managing 153 funds in Brazil, about 28 firms in Russia and 115 in China while India has over 160 firms. About 120 of these India-focused firms are either those who have raised money from outside India or are subsidiaries of non-Indian VC/PE firms. Experts opine that a growing economy, especially on the domestic side, increased entrepreneurial activity and the IT/ITeS effect is attracting newer investors to the country. The huge number of experienced techies returning to India and setting up companies has also increased the exposure of Silicon Valley venture firms to the country. […]
India topped the Asian private equity league in 2007, followed by China, a report said on Monday. The Asia Private Equity Review (APER) said India recorded the largest number of deals at 290 and the highest aggregate deal value at 9.9 billion US dollar. The momentum appears set to continue this year. 'With alluring return results attained in 2007 and fund managers' ability to raise substantially larger funds, India promises exciting dynamics in 2008,' ACER said in the report published in The Business Times. China followed with 240 deals totalling 9.5 billion US dollars. The aggregate deal value for private equity in Asia was 42.2 billion US dollars spread over 691 deals with China and India accounting for 45.9 per cent of aggregate deal value and 76.7 per cent of deals by number. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|