International Finance Corp. (IFC) said on Thursday it will invest $15 million through debt and equity to fund the expansion of drug maker Granules India Ltd.
IFC, the World Bank's private sector lending arm, said it would lend $9 million … […]
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International Finance Corp. (IFC) said on Thursday it will invest $15 million through debt and equity to fund the expansion of drug maker Granules India Ltd. IFC, the World Bank's private sector lending arm, said it would lend $9 million … […] Taro Pharmaceutical Industries lost somewhere between $95 million to $120 million in the year 2006. It's down to just $13 million cash and owes bondholders and the banks $240 million. The details appear in the summons that Taro sent to shareholders, to attend an assembly on June 23, on which they'll vote on the company's proposed acquisition by Sun Pharmaceutical Industries of India. Sun proposes to pay $7.75 per Taro share and to undertake the Israeli drug company's tremendous liabilities. […] Citigroup Venture Capital International (CVCI), Citi’s emerging markets private equity investment arm, will invest a fresh $1.5 billion in India over the next three years. It will be the largest such infusion by a single private equity investor in the Indian market and outstrips the $1 billion allocations made by the Blackstone Group and Carlyle Group each in 2005. The investments will be made out of CVCI’s global $4.5 billion Growth Partnership LP Fund II, which is slated to complete fund-raising in a few weeks. In three years, CVCI’s exposure to India will jump three-fold from the $500 million it has invested here so far. […] Baring Private Equity Partners India Ltd plans to launch its third India fund, with a corpus of at least $175 million (Rs717.5 crore) this year to target the energy and the knowledge process outsourcing (KPO) sectors. “Our third fund will be launched in the second half of 2007. Though the size of the fund is not yet decided, it will be substantially more than $175 million,” said Karthik Ranganathan, head (investments, alternate energy and engineering service), Baring India. […] Business space provider Ascendas has launched its first ever development fund for India – to tap into the country's booming real estate sector. Totalling S$500 million, the private fund will invest in the development of integrated property projects like business … […] The Bombay Stock Exchange Ltd. has offered to buy a 26 percent stake in Ahmedabad-based National Multi-Commodity Exchange of India (NMCE), a source close to the development said on Tuesday. Incidentally, one of NMCE's founders, Neptune Overseas Ltd., is also … […] ICICI Financial Services, ICICI Bank’s subsidiary which owns its insurance and asset management businesses, will offload 5.9 per cent stake to five investors for around Rs 2,650 crore. At the current price, ICICI Financial Services is valued at Rs 44,600 crore on a post-issue basis. The placement is subject to regulatory clearance. The private equity investors likely to buy the stakes are General Atlantic, Government of Singapore Investment Corporation (GIC), Temasek and Crown Capital. […] Since Blackstone Advisors Pvt. Ltd’s debut in India back in May 2005, which it flagged off with a hefty $1 billion (Rs4,300 crore then) allocation—the largest by a single private equity investor at the time, the firm has not made significant inroads in the Indian private equity market. It has made just two investments so far: $50 million (Rs205 crore) in Pune-based Emcure Pharmaceuticals Ltd and $275 million in Ushodaya Enterprises Ltd, the Hyderabad-based media group which owns Telugu newspaper Eenadu. The two deals are a far cry from the $300-400 million-plus deals that the firm had stated as its investment mandate for India two years ago. […] NRI venture capitalist Vinod Dham’s New Enterprise Associates (NEA) has picked up a minority stake in KK Birla-promoted mortgage BPO ISGN for about $25 million. According to market sources, the VC has picked up about 22-25% in ISGN, valuing it at about $100 million. When contacted by ET, New Enterprise Associates’ partner Ravi Viswanathan declined to confirm the equity percentage. ISGN is the third largest mortgage servicing KPO in US after Fidelity and Fiserve. In the US loan origination software market, however, it claims to the largest in with a share of 18%. […] India’s first Shariah-compliant infrastructure fund is on its way. The 2i Capital Group, which operates in India, UK and Mauritius, in a consortium with Oman-based Amwal Investment SAOC has launched a $300-million offshore Shariah-compliant Indian Infrastructure Development Fund. The seven-year fund, registered with the Securities and Exchange Board of India (Sebi), is based in Mauritius. The fund’s investments will be made in accordance with Islamic Shariah principles; Shariah law forbids some of the standard features of typical private equity deals, including charging interest on debt. […] |