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Cisco has invested an undisclosed amount in Aavishkaar, a $120 million venture fund founded to promote development in rural and semi-urban India. Cisco will invest in the fund, Aavishkaar India II Company Ltd., and will “collaborate with other investors to drive sustainable business models with social impact,” the company said.
Reinforcing its commitment to country transformation and inclusive growth, Cisco today announced an investment in Aavishkaar, a venture fund founded to promote development in rural and semi-urban India. Cisco will […]
Private equity firm Advent International today said it will pick up an undisclosed stake in Hyderabad-based healthcare chain Care Hospitals for USD 105 million (Rs 534 crore). The PE firm said it will acquire shares from some of the existing investors and inject additional capital into the business. However, the business of the healthcare chain will continue to be run by the founders following the investment, Advent International said in a statement. When contacted, Advent India Director Avinash Mehra said: […]
The Securities & Exchange Board of India, or Sebi, may relax rules stipulating minimum contribution by the sponsor or promoters in a private equity fund after hectic lobbying by the PE industry. New SEBI rules may peg the minimum contribution at 2.5% of the fund corpus as against 5% proposed earlier.
Globally, it is an established industry practice for a general partner or promoter to contribute a certain percentage to show commitment. Though not mandatory in most markets, the […]
Rabo Equity Advisors Pvt. Ltd, a farm and food-focused private equity (PE) firm, has invested Rs50 crore in Super Agri Seeds Pvt. Ltd. In a separate transaction, VenturEast Proactive Fund and Zephyr Peacock India agreed to invest Rs60 crore in e2E Rail, a services provider to railroad operators. While Hyderabad-based Super Agri Seeds is the eighth investment by Rabo Equity Advisors in India, it is the PE firm’s first investment in a seeds company, having acquired a significant minority stake. […]
Fortis Healthcare India Ltd, which runs the country’s second largest hospital chain, is planning to strike a deal with private equity (PE) investors. Ahead of that, the promoters will sell part of their stake in the company through the stock auction route. The move will help the Singh brothers, promoters of Fortis, reduce their stake in the company to levels prescribed by the stock market regulator for listed firms, and also provide Fortis with money to retire some of its […]
L&T Finance (LTF), a subsidiary of L&T Finance Holdings Ltd (LTFH), has executed definitive agreements to acquire FIL Fund Management Pvt Ltd (Fidelity AMC) & FIL Trustee Company Pvt Ltd, the companies carrying on the mutual fund business of Fidelity in India, subject to regulatory approvals.
Fidelity AMC, incorporated in 2004, manages the 15th largest mutual fund in India with a market share of 1.3% and an average AUM for the quarter ended December 2011 of Rs8,881 crore (about 68% […]
Essel Group said it has acquired a 10.19% stake in infrastructure and construction company IVRCL Ltd. and is in the process of increasing its holding further. The diversified group — which is the parent of media companies such as Zee Entertainment Enterprises Ltd. and Zee News Ltd. — said that none of its media arms were related to this investment. It didn’t give any financial details of the deal in a statement late Tuesday. Source: WSJ
Dr Reddy’s Laboratories is set to sign a definitive agreement with Fujifilm of Japan in the first quarter of the next fiscal to set up a drugs joint venture for the Japanese market. Dr Reddy’s would hold 49% stake and Fujifilm the balance in the venture, which would pursue opportunities in generic drugs. The agreement with Fujifilm is being seen as a stepping stone for Dr Reddy’s into the Japanese market, which is estimated to be having significant potential for […]
Kolkata-based Linc Pen & Plastics has signed a ‘Business and capital alliance agreement’ with Mitsubishi Pencil Co. of Japan to issue two million equity shares of Rs.10 each at Rs.100 per share, amounting to a 35 per cent stake on the expanded capital of Rs.14.8 crore. The Rs.250-crore Linc Pen has a distribution arrangement with Mitsubishi Pencil for its Uni / Uni-ball brand since 1992. The main objective of the ‘capital alliance’ is to improve Mitsubishi Pencil’s market share and […]
Nirvana Venture Advisors has acquired a 10 per cent stake in online games company, Games2win by providing partial exits to early shareholders. Early investors include Nexus India Pvt Ltd, ICICI Ventures and from a few senior employees of the company. Nexus and ICICI continue to hold shares in the company. Lead investor Clearstone Venture Partners and SVB Holdings have not divested their shares in this transaction. As part of the transaction, Amit Patni, co-founder of Nirvana Venture Advisors, will join […]
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