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In May 2010, Singapore-based Asian Genco Pte Ltd announced it had secured investments worth $425 million from a clutch of marquee private equity (PE) funds, to invest in the Indian power sector. It was a big surprise. The funds included General Atlantic, Morgan Stanley, Norwest Partners, Everstone and Goldman Sachs, and not many had heard of Asian Genco. The financing by the PE biggies was the biggest equity transaction in the power sector till 2010 and touted as endorsing the […] Vedanta Group firm Sesa Goa on Friday said it has acquired remaining 49 per cent stake in Liberia’s Western Clusters project for USD 33.5 million (about Rs 185 crore). “Sesa Goa has acquired the remaining 49 per cent of the outstanding common shares of Western Cluster Ltd (WSL) from Elenilto Minerals & Mining LLC Delaware, for a cash consideration of USD 33.5 million,” the company said. Post this transaction, Sesa’s shareholding in WCL rose to 100 per cent. The company […] Canbank Venture Capital Fund Limited (CVCFL), a subsidiary of Canara Bank, has picked up 6.11 per cent stake in Bangalore-based Scotts Garments Limited for Rs 20 crore. The CVCFL has made the investment through its Emerging India Growth Fund, a Rs 500 crore fund. Scotts Garments, promoted by Naseer Ahmed in 2002, is a 100 per cent exp-ort oriented unit with rea-dymade garment manufacturing facilities at Bangalore and processing unit at Tirupur in Tamil Nadu. The company has been exporting […] Dalmia Cement (Bharat), has added a further 26% to its stake in Kolkata-based Calcom Cement India Ltd at a price of Rs.77.16 crore (US$14 million). Perhaps most interestingly, since taking a 50% stake in Calcom Cement in January 2012, Dalmia has changed its stance on the overall value of Calcom. This new deal places a value of Rs.296 crore on the company, as opposed to the previous deal, which valued it at Rs.576 crore. As with the previous deal though, […] There is a distinct lack of buzz on the private equity front in the third quarter in India. Investments by private equity and even the smaller angel investors who incubate start-ups are plunging mostly because exits remain difficult. As per latest figures from the Emerging Markets Private Funds Association, private equity investments in India are down to just $2.06 billion in the first three quarters of the calendar year as against $6.17 billion in 2011 and $6.22 billion in 2010. […] PVR Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 29, 2012, approved, subject to receipt of relevant consents under applicable law, the purchase of entire 69.27% stake in Cinemax India Limited from the Kanakia family, promoters of Cinemax India Limited at a per share price of Rs. 203.65 and a total consideration of Rs. 394,97,54,278 through Cine Hospitality Private Limited, a wholly owned subsidiary of the Company.The Board also approved […] ICICI Venture, one of the largest private equity firms in the country, is looking to sell its 49 per cent stake in Indian Express Newspapers (Mumbai) Ltd (IENL), which manages Express Towers, located at Mumbai’s Nariman Point. ICICI Venture was currently in talks with a number of investors like Blackstone, two executives in the know of the plans said. It was looking at getting around Rs 1,000 crore for its stake, which is double the Rs 500-crore investment it had […] Pune headquartered Swipe Telecom India Pvt Ltd would be raising $20 million (Rs 110 crore approx) through private equity ( PE) route for expansion, branding and innovation of its products which include mainly tablet PCs. “We already have $ 10 million (Rs 55 crore approx) from a strategic investor Mantra Ventures which is based out of Pune. We hope to raise another $20 million through PE by early next year,” siad CEO of Swipe Telecom Shripal Gandhi. “We are in […] Adani Ports and Special Economic Zone Ltd (APSEZ), the operator of India’s biggest private port at Mundra in Gujarat, may buy a stake in a privately run multi-commodity terminal at the Union government-controlled Visakhapatnam port in Andhra Pradesh as it seeks to bolster its presence on the country’s eastern coast and expand its port business, three people familiar with the plan said. Mumbai-listed APSEZ is 77.5% owned by Adani Enterprises Ltd, the flagship business of billionaire Gautam Adani. Vizag Seaport […] Tata Housing, a wholly owned subsidiary of Tata Sons on Thursday said the company has for the first time raised private equity funding from Atlanta-based Portman Holdings for its luxury project in Bengaluru. The Tatas are now following in the footsteps of Godrej Properties, which has regularly been raising PE funds to optimise its capital requirement and boost its return ratios. Portman Holdings has invested around Rs 70 crore for 26 per cent equity in Tata Housing’s luxury housing project […] |