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House of Pearl Fashions will acquire 75 per cent stake in Hong Kong-based marketing company, Simple Approach. The acquisition will benefit Pearl Fashions in expanding its customer base into high fashion, mid-market segment. Simple Approach supplies to mid market retailers in the UK and US. The company is expected to clock revenue of Rs 80 crore in the current financial year. It is expected to grow to Rs 100 crore in 2008-09 and to Rs 200 crore by 2010-11. […] US-based Clear Investments and government-owned Power Finance Corp (PFC) have joined hands to float a $1-billion private equity fund for the Indian power sector. Their plan is to increase the size of the fund to $10 billion by 2012 with the sector entering the boom phase in the country. PFC, which was appointed as the advisory to the investments, has evinced interest in picking up 20% stake in the power fund. PFC has submitted a letter of intent (LoI) to invest $200 million, according to Deepak Kavadia, managing director of the parent company Clear Trade. The fund, which has an advisory board in India, will invest $250 million to pick up stake in Indian power companies through pre-public offering by March 2008, said Mr Kavadia. […] Essar Communications Holdings (ECHL), the telecom subsidiary of Essar Global, has acquired a 49% stake in Kenya-based Econet Wireless International (EWI) by subscribing to fresh capital of EWI for an undisclosed amount. The strategic alliance will significantly benefit Econet Wireless Kenya (EWK), which is 70% owned by EWI, from a rollout as well as product offering perspective. Essar will actively participate with EWI in the network rollout of EWK, ECHL said in a statement. Econet Wireless is a diversified telecommunications group with operations in more than nine countries in Africa, Europe and the East Asia Pacific Rim. The group offers products and services in the core areas of mobile and fixed telephony services, internet and satellite. […] The Rs 100-crore Gland Pharma Ltd has signed an agreement with Evolvence India Life Sciences Fund, a private equity fund focused on investments in life sciences businesses in the country, for capital infusion of $30 million (Rs 120 crore). The proposed fund is to support its expansion at its manufacturing facilities and fund research and development activities. The company is also open to acquisitions in the near future. Announcing this to the media, Ravi Penmetsa, vice-chairman and MD, said that the capital infusion of $30 million would help to vertically integrate the manufacturing capabilities, fund capacity expansion and file more Abbreviated New Drug Application (ANDA). Besides, the company is bullish over exports to the regulated Markets and expects 60% of its revenue to come from these Markets in the next two years. Gland Pharma has a pre-filled syringe facility in the country. Some of the Companies’ products include heparin, enoxaparin and dalteparin, used to treat blood clots and rocuronium, atracurim, etc used in anesthesia. The company is in the process of developing generic products in the oncology and anesthetic segments. […] Nasscom and ICICI Knowledge Park have come together to launch a fund aimed at providing seed capital to start-up ventures creating intellectual property. The Nasscom-ICICI Knowledge Park Innovation Fund (NIIF) will have a corpus of about Rs 100 crore and will operate as an independent entity managed by a professional team. Tata Consultancy Services (TCS), ICICI Knowledge Park and Bharti Airtel are the anchor investors. The fund is expected to be operational by April this year and will attract the first round of investment from another 8-10 institutional investors, outgoing Nasscom president Kiran Karnik said. The plans for follow-on rounds are to attract another Rs 150 crore – Rs 200 crore. […] Red Fort Capital, an international private equity firm, has launched its first domestic fund of $250 million (Rs 1000 crore) targeting deals in the real estate space. The fund will focus on land and realty projects worth over Rs 5000 crore in the next one year. The investment will be made in under-valued land for residential, commercial, IT, retail and hospitality projects, focusing on redevelopment projects in Mumbai and affordable housing and land in key urban centres. Subhash Bedi, director, Red Fort Capital Advisors said, “The launch of the domestic fund is in line with our expansion plans for India. We will invest in attractive locations and markets which demonstrate high underlying employment and income growth. We are putting our own capital along with that of investors, in this exciting new venture. The fund will focus more on land banking and land acquisition, which is the key to high investment returns in the real estate sector.” Last year, the company had committed investments to a number of land and real estate projects worth over Rs 7,500 crore, partnering with the Bangalore-based Prestige Group and Indu Projects in Hyderabad. […] Komli ( www.komli.com), a leading online advertising firm in India, today announced it has received $7 million of venture financing led by Nexus India Capital, along with co-investors Draper Fisher Jurvetson and Helion Ventures. The financing will allow Komli to augment its staff and invest in several new technology initiatives planned for 2008. The three venture capital companies have previously been involved with such companies as eBay India, Hotmail, Skype, Overture, MakeMyTrip, and Junglee. The Komli Performance Network and the Komli Premium Network are two of the largest Indian ad networks helping publishers monetize their Indian inventory. PubMatic, a service by Komli, helps publishers optimize the value of their online advertising. In addition, the company recently launched two first-of-its-kind services for Indian advertisers: Search RePlay, a solution that combines search and display advertising to allow advertisers to more effectively target customers; and behavioral targeting, which has proven to increase customer traffic and lead volume for Komli users. […] In a major boost to the private security business in the country, global private equity (PE) major DE Shaw has picked up a 14 per cent stake in Delhi-based Security and Intelligence Services (SIS) India Ltd for an undisclosed amount. However, market sources peg the deal at around Rs 450-500 crore. This is the first time a foreign hedge fund has invested in this sector in India. SIS, which was set up as an investigation firm almost 30 years ago, has grown into a security solutions provider, offering manned guarding, investigations, electronic security systems and cash in transit services to over 2,000 corporate customers across 24 states in India. It has a workforce of over 28,000 men and supervisors and 400 managers. […] Mid-sized companies seeking capital to enter their next stage of growth now have the perfect platform, India’s first-ever Private Equity Fair (IPEF 2008), scheduled to be held at Mumbai on February 27, its organisers YEN Expo Pvt Ltd said here on Wednesday. IPEF 2008 will provide a B2B platform to companies to showcase their business and growth plans to 150 PE funds from India and abroad. A large number of cases are being reviewed by YEN and analysed by IIM-Ahmedabad. Out of these the best 25 companies will be short listed to participate in the fair. YEN and IIM-A will then work with these companies to make them “investment ready,” according to a release. Arun Chandrachud, CEO, YEN Expo, himself a senior investment banker formerly with Ernst & Young, said mid-sized companies find it difficult to attract private equity investors as they are unable to present their business plans in a format that is readily appreciated by a private-equity investor. […] Tecpro Systems (TSL), engaged in the business of undertaking turnkey projects in bulk material handling systems including raw material handling systems for power, steel, cement plants etc. Tecpro is entering the capital market with an initial public offering (IPO) through a book built issue of 6,000,000 equity shares. The total issue will constitute 22.33% of the fully diluted post issue paid-up capital of the company. TSL has made Pre – IPO placement of 1,300,000 equity shares of Rs 10/-each. 10 lakh equity shares have been allotted to Credit Suisse Pe Asia Investments (Mauritius) Ltd. and 300,000 equity shares to Kotak Mahindra Capital Company Limited, both at the price of Rs 240 per share including premium of Rs 230 per share. The total size of this pre-IPO placement is Rs 312.00 million and shares given to investors under placement constitute approximate 5% equity shares of pre issue (post pre IPO placement) paid up share capital of the company. […] |