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The infusion of $379 million by Abu Dhabi-based Etihad Airways in Jet Airways, India’s largest private airline , is good news on multiple counts. The proposed deal is a tangible benefit of the government’s policy reform announced last September easing ownership rules to allow foreign carriers to own up to 49% in local airlines. It signals an overall improvement in the country’s investment climate. The present tie-up comes in the wake of a joint venture between Air Asia and the […] Emerging markets-focused Actis Private Equity might soon exit from its first and only real estate investment in India, according to sources. The global PE firm had invested $25 million in early 2008 in a joint venture company floated with Vaishnavi Group to construct a residential and retail property in Bangalore. According to sources, Actis is in active discussions with the promoters to sell back its stake in the venture. When contacted, Actis said it could not comment. The management of […] The local arm of the American private equity biggie, KohlbergKravis Roberts and Co (KKR), will raise Rs 2,000 crore from wealthy Indian investors and institutions. KKR’s alternative investment fund, which has been recently registered with the capital market regulator Sebi, plans to invest the money in mezzanine and structured credit instruments to fund promoters, among other things. KKR has been funding companies for over three years from its balance sheet capital. Now, it’s keen to raise a pool […] Gulf state Qatar has bought a 5 percent stake in Indian telecoms firm Bharti Airtel Ltd for $1.26 billion, the firm said on Friday, extending an overseas buying spree from mainly developed countries to Asia’s third-largest economy. The deal is being channeled through Qatar Foundation Endowment and a source close to QFE said it would be an active investor in Bharti Airtel, securing a board seat at the world’s fourth-biggest mobile phone company by customers. “QFE is in for the […] Tata Opportunities Fund (TOF) LP – a captive PE fund of the $100 billion salt-to-software conglomerate — is all set to buy a 5% stake in Tata Group’s joint venture DTH company Tata Sky. TOF, which has a corpus of $600 million raised last month, will pay Rs 275 crore ($50 million) for a 5% stake, valuing the loss making JV at $1 billion. This transaction is also expected to set a benchmark valuation, say industry experts as the […] IDFC and Motilal Oswal backed Parag Milk Foods Private Limited to raise $17 million from International Finance Corporation (IFC) for its proposed $32.7 million investment. It may be noted, end of last year the company raised $13.9 million from IDFC to support investment, which includes plant for value added products and automation in the existing plants. At present the company has plants in two states Maharastra and Andhra Pradesh. Parag Milk Foods (Parag), established in 1992, is one of India’s […] Tata Capital, part of steel-to-software conglomerate Tata Group, has raised $600 million for a private equity fund to invest in India, in what could be one of the largest debuts by a private equity fund targeting India. Institutional investors from North America, Asia and the Middle East have invested in the fund, the company said. The investors could also co-invest directly into portfolio companies alongside the fund on a mutually discretionary basis, it added. Globally, first-time funds have secured about […] Goldman Sachs Group Inc has invested 1.1 billion rupees, or about $20 million in a medical device firm in India, in the Wall Street bank’s second investment in the country this month, and its latest in the healthcare sector. Through its private equity arm, Goldman Sachs has invested in BPL Medical Technologies , a unit of Indian electronics products maker BPL Ltd. Funds raised will help BPL Medical expand the products it is selling as well its geographic footprint, the […] Petronet LNG Ltd, India’s biggest importer of liquefied natural gas, will take 26% stake in a shipping venture planned to haul gas to its new terminal at Kochi in Kerala. Petronet, which is building a 5 million tonne per annum capacity LNG import facility at Kochi, wants a 216,000 cubic meters capacity ship to haul liquid gas (LNG) from Gorgon, Australia. The vessel will be owned and operated by a shipping consortium, in which Petronet will pick up 26% stake. […] Anil Ambani-led Reliance Private Equity is firming up plans for its third fund, with a target corpus of $300 million. Reliance PE will be looking exclusively at global investors for this fresh fund, according to sources. Reliance Private Equity is currently investing from its second fund — Reliance Alternative Investments Fund-Private Equity Scheme-I, which has a corpus of Rs 930 crore and expected to be drawn down by November 2013. It had tapped domestic investors, besides a small number of […] |