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Home-grown beauty and wellness chain VLCC expects to raise about Rs 250 crore by selling a minority stake to private equity (PE) within the next few weeks to support acquisitions in the south-east Asia, said a company source. The company, which is valued at $400 million, is in advanced talks with a few PE firms in India and abroad for the fund raise. “Funds raise would be used in capital expenditure and to finance acquisitions,” said the source. JM Financial […] Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, is investing $135 million in financing for two investment funds from India. OPIC’s fund will support small and medium-sized enterprises (SMEs) and industrial logistics parks in India. The Board of Directors has approved $35 million for the BanyanTree Growth Capital II fund. BanyanTree’s fund has a target capitalization of $175 million. The Board also approved $100 million for IndoSpace Logistics Parks II, which will invest in warehouses, distribution centers, […] US-based investment management firm Invesco is buying 49% in Religare Mutual Fund in a deal that marks the re-entry of a foreign partner into the Indian asset management company. Religare MF was launched as a joint venture between Religare and Aegon, but the Dutch financial services major exited the JV in 2009 by selling its stake to the Indian firm. While announcing the JV on Thursday, officials from Religare MF and Invesco declined to disclose the deal size. However, industry […] Everstone Capital is set to buy about $30 million stake in the seven-decade-old S Chand Group, a leading publisher of textbooks and digital learning, as private equity firms chase deals to transform old family-run companies. Everstone, managing assets worth $1.8 billion, may take around 35% stake in the New Delhi-based publishing business, said people familiar with the matter. The fund will help the third generation family promoters to grow their content through acquisitions and more aggressive bet on digitization, […] Thyrocare Technologies, a Mumbai-based medical diagnostics services provider, has raised about Rs 120 crore from private equity (PE) firm Norwest Venture Partners (NVP). Through the deal, Thyrocare has diluted about 10 per cent stake in the company, it is learnt. As part of the agreement, Sohil Chand, managing director of NVP India, would join Thyrocare’s board of directors. The diagnostics market in India is estimated at Rs 10,000 crore. Thyrocare’s network of 20,000 service centres across 1,000 cities and towns […] Dalmia Continental, which sell olive oil under Leonardo brand, today said it has sold 27% stake in the company to Italian firm Nicola Pantaleo. The company did not disclose the size of the deal. Dalmia Continental Pvt Ltd (DCPL) announced the “conclusion of a joint venture agreement with the Italian company Nicola Pantaleo, S.P.A (Pantaleo). “Pantaleo consequently holds 27 equity in DCPL,” the company said in a statement. When contacted, Dalmia Continental Chairman V N Dalmia said: “Its an strategic […] IDFC Private Equity is all set to buy 15-20 % stake in Pune-based Parag Milk Foods for Rs 155-160 crore in the largest Private Equity transaction in the country’s dairy sector. Two people familiar with the discussions said the company will issue fresh shares to IDFC PE, while the transaction will also see existing investor Motilal Oswal PE reducing its stake in the company. Motilal Oswal had picked up around 10-12 % stake in Parag in June 2008 for close […] CarZ, a Hyderabad-based start-up which is into the multi-brand auto solutions space, is looking at raising Rs 120 crore (around $25 million) private equity investment by February next year. “We are in discussion with multiple PE investors from India as well as abroad. We may raise the money from a single investor or multiple investors,” Venu Donepudi, co-founder and managing director of CarZ, told Business Standard. The company has 16 CarZ outlets across Andhra Pradesh, Karnataka and Kerala. “We have […] Tech Mahindra, on Monday announced the acquisition of 51 per cent stake in mobile value-added services (VAS) provider Comviva Technologies, a Bharti Group company, for Rs 260 crore. The acquisition is expected to shore Tech Mahindra’s top line. With the new brand identity, Mahindra Comviva, the mobility business of Tech Mahindra and Mahindra Satyam combined is expected to clock revenues of Rs 1,000 crore by March 2013. At present, Tech Mahindra and Mahindra Satyam get around Rs 500 crore of […] In what can be seen as the first consolidation move in the Rs 20,000 crore-plus micro finance industry, IntelleCash Microfinance Network Company (P) Limited, an arm of the Intellecap group of companies, has bought 60 per cent stakes in the Kolkata-headquartered MFI Arohan Financial Services. The unique series of back-to-back transactions in IntelleCash and Arohan amounted to over Rs 52 crore and was facilitated by Aavishkaar Goodwell II, a fund that invests in entrepreneurial microfinance and financial inclusion businesses in […] |