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Exclusively.in, an online portal for Indian fashion, raised its series B funding of $16 million led by Tiger Global Management LLC. The existing investors Accel Partners and Helion Ventures also participated in the funding. The amount raised will be used to fund its international expansion plans and sign exclusive contracts with India's fashion designers. Founded in June 2010, the company raised its first round of venture capital funding of $2.8 million from Accel and Helion in November 2010. The site offers a variety of products including jewelry, handbags, crafts, paintings and wedding attire. Their main target audience is the NRIs and it has been catering solely to the U.S. The site plans to reach one million active, registered members in the next few months. […]
Merger and acquisition (M&A ) and Private equity (PE) activities in the transport and logistics sector in the country during the first five months of 2011 have seen a significant increase as compared to that for the same months last year. Last month alone witnessed five deals, including Warburg Pincus putting $100million in Continental Warehousing Corporation , Fidelity Growth Partners investing $13.5 million in Transpole Logistics and Aqua Logistics taking over Nikkos Logistics. Given the hectic activities, sources familiar with the development are expecting to see at least one deal every month on transport infrastructure and logistics sectors of the country . On the PE side, scores of India-focused funds managing over $20 billion are now eager to deploy capital given the recent slowdown. On the M&A side, the country presents itself as an ideal ground where industry consolidation has only just begun . […]
Oman Investment Fund and an anonymous hedge fund have agreed to buy India’s NSE (National Stock Exchange) stakes in the National Commodity & Derivatives Exchange (NCDEX) in a deal that would value NCDEX at 7 billion rupees, said Reuters citing an Economic Times Report. Oman Investment Fund (OIF) is a sovereign wealth fund owned by the Oman government. The report has left the hedge fund unnamed. If the deal is through, then it would mark the entry of a sovereign fund into India's seven-year-old commodity futures market. […]
Par Pharmaceutical Cos. will acquire India-based generic drug maker Edict Pharmaceuticals for up to $37.6 million. The company expects the deal to close by the end of the year and add to earnings in 2013. Par, itself a maker of generic drugs, has also been moving into the branded pharmaceutical market by developing updated versions of off-patent drugs. Privately held Edict develops and manufactures solid oral dosage generic drugs with a focus on niche first-to-file, first-to-market formulations. The company has eight abbreviated new drug applications awaiting approval from the U.S. Food and Drug Administration, one application filed in the name of a development partner and 14 products in development. […]
A unit of Elephant Capital PLC has bought a 4.8% stake in India's Air Works for 2.45 million pounds ($3.96 million). Elephant Capital's investment is through its Mauritius unit, Tusk Investment Fund 1, the provider of aircraft maintenance, repair and overhaul services said in a statement. Air Works will also get another round of investment from the private-equity firm, it said, without elaborating. […]
Private equity investors are poised to exit roughly $5 billion worth of Indian real estate investments in the next two or three years, a Nomura report said, adding pressure to a sector struggling with access to capital and falling property prices. During the boom years of 2006-2008, India attracted an influx of private equity in property, a big chunk of it structured as debt, and in some cases developers will be forced to buy back the investment from the PE firms, the report said. “This will increase pressure on developers to generate cash flows through affordable pricing and better execution,” Nomura analyst Aatash Shah wrote. […]
Aloe Private Equity, a Mauritius- based company that focuses on Asia, seeks to raise as much as 350 million euros ($501 million) to invest in companies developing environmental technologies. The company expects to close in the third quarter the first funding round for its Aloe Environment Fund III with capital commitments of about 100 million euros, according to Vivek Tandon, co-founder and general partner at Aloe. It expects to investment in eight to 10 companies in fields such as waste management, recycling, water and energy efficiency that want to expand into Asia, Tandon said in an interview yesterday. “Entrepreneurs in Asia were very quick to realize that being green was a profitable business and the concept of reduce, reuse and recycle could save their companies money,” he said. Aloe has received commitments from two institutional sponsors and some of its existing partners. […]
Srei Infrastructure Finance Ltd, one of the few pure-play private sector infrastructure finance companies in the country, is planning to re-enter the port sector this fiscal to grab opportunities in upgradation of existingports. It would also begin oil and gas exploration in a block that the group, as part of a consortium, had won in the Nelp VII round in 2008. “We have recently exited our investments in the port sector but this year we might invest in this sector again as lots of investment opportunities are likely to show up soon,” vice-chairman Sunil Kanoria told DNA. […]
Toll management company MEP Toll Road today said it has initiated discussions with a clutch of private equity firms to dilute its holding by 10-15% by September this year. The divestment of stake to private equity players will be followed by listing of the company in domestic bourses towards the end of current fiscal, MEP Toll Road chairman and managing director Jayant Mahiskar told PTI. “We are already in discussion with 2-3 overseas private equity players for diluting 10-15% in the company. But, we are yet to zoom in on any. However, a deal will be signed within the second quarter of current fiscal,” Mahiskar said. He, however, declined to give further details, saying, “We have signed a non-disclosure agreement and are bound by the agreement.” […]
ICICI Venture has bought a 10% stake in RJ Corp's Devyani International, which runs KFC, Pizza Hut and Costa Coffee chains in India, for about Rs 250 crore, two people familiar with the development said. Ravi Jaipuria, founder of the Rs 3,000-crore RJ Corp, confirmed the investment deal, but declined to comment on its size. “The deal was signed on Wednesday. It will support expansion of our foods business in India and in global markets,” he told ET on Wednesday. […]
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