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Motilal Oswal Private Equity Advisors and Beacon India Private Equity Fund are close to picking up around 15% stake in the Delhi-based CK Jaipuria Group, one of the bottling companies for PepsiCo’s products in India, said two persons familiar with the matter. The first person, a senior executive in the PE industry, said the two firms are collectively looking to infuse about Rs 100-125 crore. This puts the valuation of the company at Rs 650-850 crore. Investments by the two firms separately could not be ascertained. When contacted by ET, CK Jaipuria, the CMD of the bottling company, declined comment. […]
Private equity investors JM Financial and the Mauritius-based SRS Orion Investments, which invested Rs 600 crore in Maytas Properties early 2008, are seeking government intervention to recover their investment after the property firm failed to return the funds despite an arbitration award in favour of the investors. In a letter dated November 4 to the Company Law Board, ministries of finance, corporate affairs and commerce and industry, the PE investors have requested the government to assist them in the recovery of over Rs 900 crore, including the principal and the interest as directed by the arbitrator, due to them from Maytas Properties. […]
Ikya Human Capital Solutions, the Bangalore-based HR services firm, is likely to be a target for global HR firms planning to set up shop in India. Some of the names floating around are companies like the Dutch USG Group, Spherion, Volt, Robert Half and Michael Page from the US, and Radia from Japan who are looking to enter India and it is likely that they may look at Ikya to start their operations. However, Ikya management denied that they will sell out. Ikya, which describes itself as a human capital solutions company that offers executive search, recruitment, staffing and learning, and development solutions, has now remodelled itself by offering more value-added services. Ikya in 2008 received a funding of $8 million from India Equity Partners (IEP), a private equity fund focused on India. […]
Most of these families are looking at private equity funds as a way to earn fee-based income. When Infosys’ Chief Mentor N R Narayana Murthy announced his plans to float a venture fund, he joined a number of rich individuals and families who had traversed the same path earlier. Murthy’s earlier colleague at Infosys, N S Raghavan, Wipro Chairman Azim Premji, Anil Ambani, the TVS Family, the Future Group, the Tatas and the Birlas, and a few others have either raised or are raising venture capital and private equity (PE) funds to the tune of close to $5 billion. […]
After investing in four mid-income and low-cost housing projects in the past one year, Indiareit Fund Advisors Pvt. Ltd, promoted by the Ajay Piramal group, wants to refocus its strategy on projects with potential for higher returns. Indiareit will now look at deploying most of its new Rs500 crore domestic fund announced in October in redevelopment and defunct textile mills projects. “There are some 25 mills coming up for development and we want to either bid independently or through a special purpose vehicle,” managing director and chief executive Ramesh Jogani said. […]
After venturing into the private equity (PE) space earlier through a joint venture, financial services provider Religare is now planning to go solo. The company is planning to launch a $500-million (around Rs 2,350 crore) pan-Asian fund targeted at emerging economies. The fund would mainly invest in Southeast Asian markets such as Indonesia, Malaysia, Thailand, the Philippines and Singapore, and partly in India, sources close to the development said. Religare would shortly open representative offices in Singapore, Bangkok and Kuala Lumpur. […]
Private equity (PE) firm Milestone Capital is looking to raise a $250 million (about Rs 1,175 crore) offshore fund independently or jointly with Delhi-based Religare, its existing partner in a fund that invests in the healthcare and education space in India, an industry executive, familiar with the matter, said on conditions of anonymity. The new fund will raise money from the overseas markets including the US, Europe, and the Middle East. At present, Religare Group and Milestone have a 50:50 joint venture (JV) fund, Religare Milestone, with a corpus of Rs 600 crore. The fund focuses on local companies in tier II and tier III cities in the education and healthcare space. The fund has already invested Rs 25 crore in test preparation firm IMS Learning Resources and is also in talks to invest similar amounts in 2-3 hospitals in the country. […]
Shanghai Automotive Industry Corporation (SAIC) is likely to pick up a 50% stake in General Motors India to form an alliance that will assemble SAIC’s light trucks in India and source components from China’s No 1 carmaker. SAIC may also be offered a position on the GM India (GMI) board, said a person with direct knowledge of the deal, which will give the Chinese firm a foothold in the second fastest growing carmarket in the world. He, however , did not divulge the financial details of the transaction. […]
Driven by improved liquidity and business confidence, mergers and acquisitions (M&A) as well as private equity (PE) activities in the country are showing signs of recovery and the deal space is likely to see an uptrend in the coming months, experts said. “The optimistic outlook of the global markets is now reflecting on the transactions landscape of the country. The current quarter has set the ground for substantial recovery in the Indian transactions market driven by easy liquidity and increasing investors appetite,” global consultancy firm Ernst & Young National Director and Partner Transaction Advisory Services Ranjan Biswas said. […]
International venture capital investment has bounced back after a second quarter slump but remains significantly below 2008 levels, according to a report by Dow Jones VentureSource. Venture capitalists invested $1.8bn in 297 deals across Europe, Canada, Israel, China and India in the third quarter of 2009, up from $1.5bn in the second quarter, and $100m down from the first quarter of the year. Europe was the main non-US recipient for venture investment, garnering $998m, up 23 per cent from Dow Jones' record lows of the previous quarter. The total is still a 48 per cent drop on the $1.9bn invested during the same period last year. […]
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