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Reliance Communications will reportedly sell as 80 percent stake in its subsidiary Reliance Globalcom to a consortium led by Bahrain Telecommunications Company (Batelco). The Anil Ambani-owned company is close to a deal worth $1.1bn as part of a series of deals that the Reliance Group proposes to deal over the next couple of months, Times of India reported on Monday. Reliance Communications, India’s No.3 mobile phone carrier by customers, had net debt of about $6.9bn as of December, or more […] American private equity company KohlbergKravis Roberts (KKR) will purchase a 90 per cent stake in specialisedtyre maker Alliance Tire Group from rival PE fund WarburgPincus and owner Yogesh Kumar Mahansaria for an enterprise value of about $650 million, including a debt of $125 million, according to two people familiar with the transaction. “The deal is likely to be announced this week as all the three sides have agreed on the financial terms and have more or less completed the […] ArthVeda Fund management, the private equity (PE) arm of housing finance company Dewan Housing Finance, has launched its first infrastructure debt fund, moving away from its core strategy of investing in India’s real estate sector. The Rs 200-crore ArthVeda ANU credit fund will look to invest up to Rs 20 crore per investment in unlisted companies with annual revenue ranging between Rs 50 crore and Rs 100 crore, according to Bikram Sen, chief executive officer. “”We will invest […] Indiareit Fund Advisors, the real estate private equity arm of Piramal Enterprises, has invested Rs 200 crore in multiple projects located in Mumbai, Pune, and Bangalore, capital for which has been deployed from two domestic real estate funds. The PE firm has infused Rs 100 crore into a prime residential project being developed by Omkar Realtors, located in Central Mumbai. The investment has been made from Indiareit’s recently closed Rs 400 crore Mumbai Redevelopment Fund. The project is spread across […] Avendus PE Investment Advisors Pvt. Ltd, a subsidiary of financial services company Avendus Capital, on Monday launched its third private investment in public equity (PIPE) fund, called Avendus India Opportunities Fund III. The fund is expected to have a corpus of Rs.500 crore. The company, in a statement, said there is huge scope in investing in listed entities as there are 3,000 regularly traded companies in India, of which more than 2,800 have a market capitalization of less than Rs.5,000 […] Standard Chartered is in talks to buy Morgan Stanley’s Indian private wealth management unit, which manages about $1 billion including loans, two sources with direct knowledge of the situation said on Wednesday. A couple of Indian financial services companies have also shown interest in buying the wealth management business, and a formal bidding process is expected to start soon, one of the sources told Reuters. The source did not name the companies. Both the sources declined to be named as […] India’s first social venture fund, Incube Connect Fund (Incube), has been accorded registration by market regulator Sebi, a company official said. The Ahmedabad-based social venture fund has been accorded registration by SEBI under SEBI Alternative Investment Fund (AIF) regulation 2012, a company statement said. Incube, a nine year 200 crore social sector fund, promoted by Incube Ventures (IVPL), will primarily focus on sectors of social relevance like healthcare delivery products and services, vocational education and skill development, clean energy and […] Pipavav Defence & Offshore Engineering Company, the country’s largest defence ship building company in the private sector, founded by Nikhil Gandhi, has offered to sell 26 per cent of its equity. A group of corporate majors is interested. The talks are in an advanced stage and Pipavav’s board would soon meet to decide on the buyer, based on the offers received, a source involved with the negotiations said. The promoters were seeking close to Rs 8,400 crore, or Rs 120 […] Jet Airways expects to finalise a stake sale deal with Abu Dhabi’s Etihad Airways in a week or so, an executive at the airline, who declined to be named. India’s Civil Aviation Minister Ajit Singh said earlier on Thursday, after meeting the top executives of the two airlines, that Etihad was in talks with Jet for a potential investment in the carrier. The terms of the possible deal have not been disclosed, but a government source said earlier this month […] Private equity and venture capital environment is likely to remain muted till 2014 with most PE players looking at exiting their investments and getting into a consolidation phase. However, owing to a relatively dry IPO pipeline, the standard exit route for PEs is no longer valid, said tax and advisory firm Grant Thornton in a joint report with Indian Private Equity and Venture Capital Association (IVCA). “PE’s are looking at other mechanisms of exits such as mergers and acquisitions and […] |