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Private equity firm Rabo Equity Advisors, a part of Dutch banking major Rabobank, on Tuesday said it has picked up 26% stake in Geepee Agri Private Ltd for an undisclosed amount. The stake has been purchased through its India Agri Business Fund, Rabo Equity said in a statement. Geepee Agri, which has plants at Kota in Rajasthan and Akola in Maharashtra for crushing oilseeds, is planning an expansion in the palm oil segment. Currently, the company distributes refined soyaoil under its brand “Parampara” in Rajasthan, Maharashtra and Chhattisgarh. […]
U.S. buyout giant Carlyle sees more deal opportunities in Southeast Asia than in India and is ready to make more investments in the next 20 months as the regional economy recovers fast, a senior executive said. X.D. Yang, a managing director for Carlyle's buyout fund in Asia, said on Thursday that the so-called Greater China area, including Hong Kong, mainland China and Taiwan, remained a regional deal focus for Carlyle, although he acknowledged difficulties in doing controlling deals in China. Buyout opportunities for private equity firms among Indian companies are limited because Indian firms find it easy to list on the domestic stock market and many family businesses are not up for sale, Yang told Reuters on the sidelines of the SuperReturn Asia Conference. […]
Sanofi-Aventis, the $42-billion French drug maker, which bought companies in Brazil, Mexico, and the home-grown Shanta Biotech this year,has sent a delegation to India to finalise another target for acquisition in a market that is estimated to be worth more than $17 billion and growing, two persons familiar with the matter said. The top team from Sanofi met executives at some Indian pharma companies, including the country’s fourth-largest drug maker Piramal Healthcare and privately-held Micro Labs, for a probable acquisition. This is the second time that Sanofi is courting Piramals this year, people aware of the negotiations said. But Piramals denied it saying they are negotiating for a stake sale. […]
L&T Finance, the financial services arm of infrastructure giant Larsen & Toubro, is set to buy 100% stake in DBS Cholamandalam Mutual Fund for Rs 45 crore, reports NewsWire18. The loss-making DBS Chola was set up as a joint venture between Singapore’s DBS Bank and Chennai-based Murugappa Group.L&T Finance recently raised USD 200 million via a retail bond sale. Pointing out in a statement that DBS Chola had assets under management (AUM) to the tune of Rs 2,893 crore, L&T Finance said the buy would help the company “widen, deepen” its services. […]
Qualified institutional placements (QIPs) have outstripped private equity (PE) funding since January by at least eight times, making it by far the most popular fund-raising route for firms this year. QIPs raised at least Rs21,209 crore since January this year, while PE funds invested only Rs2,574 crore in listed firms. Mint on 15 September reported that QIPs have raised close to more than twice of initial public offerings. A QIP is a private placement by a listed company of shares or securities convertible to equity with qualified institutional buyers approved by market regulator Securities and Exchange Board of India. Data from Delhi-based investment bank SMC Capitals Ltd shows another 48 QIPs worth Rs43,891 crore are in the pipeline. […]
Local reports say that Subhash Chandra’s Dish TV India is to raise $200m from an issue of Global Depository Receipts in order to fund expansion. Dish had previously sought government permission (from its Foreign Investment Promotions Board) to raise around $150m but using a different financial instrument, a Foreign Currency Convertible Bond. Local reports say that Dish TV and/or its Essel Group parent will use the permission to raise equity capital as well as general funding. […]
The promoters of Cityland Technologies plan to raise $6 million (Rs 29 crore) to fund the expansion plans of the company’s business process outsourcing (BPO) arm Cityland BPO as well as foray into real estate consulting. The company plans to raise $5 million as seed capital for its real estate services venture Cityland, which will be started sometime this year, said Srinivasarao Kanneganti, chief executive officer, Cityland Technologies. Cityland is currently in talks with a few private equity players and angel investors to raise funding for the venture, though nothing has been finalised yet, Kanneganti said. “We are looking for angels, VCs and private equity players who can fund our plans and also join our board in an advisory capacity,” he said. […]
Reliance Communications Ltd., India’s second-largest wireless carrier, will soon seek regulatory approval for an initial share sale of a 10 percent stake in its Reliance Infratel Ltd. unit, Chairman Anil Ambani said, without providing a timeline. The Reliance Infratel telecommunications infrastructure unit, which sold a 5 percent stake to seven global investors for about $290 million in 2007, had revenue of more than 50 billion rupees ($1 billion) and a profit of 17 billion rupees in the year ended March 31, Ambani told shareholders in Mumbai today. Billionaire Ambani is tapping a revival in investors’ appetite for new stocks after Indian companies led by NHPC Ltd. raised $1.88 billion in August, or almost 27-fold the total amount in the first half of the year. […]
The Aga Khan Fund for Economic Development (EKFEB), which is the single largest shareholder and holds 49 per cent of Development Credit Bank Ltd equity, is looking at hiking its stake in DCB, post the Government of India notification that the FDI in Indian banks can go up to 74 per cent. “The board meeting of DCB is expected to be held during this month a positive decision is expected on this front,” said H V Sheshadri, managing director & CEO of the bank. Sheshadri, who was in Bangalore to expand its branch network in the city, also announced the bank’s initiatives to be more retail focussed and upgrade its technology back-end. […]
Dabur India, one of India's leading personal care and food products companies, is planning to expand its operations by acquiring firms in the US, Europe, the UAE and Africa. “We are focussing on the Middle East and North Africa (MENA) region, mainly the UAE and Africa… and also looking at companies in Europe and the US where we don't have much of a footprint,” the company's vice chairman Amit Burman told reporters on the sidelines of a conference 'The India Retail Forum' on Thursday. “From the internal accruals and the debt we can raise we are looking at a size of $250-$500 million,” he added. […]
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