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Fidelity Growth Partners, the private equity arm of Fidelity Worldwide Investment, along with existing investors have invested $40.6 million in India’s Aptuit Laurus Pvt. Ltd., Aptuit Laurus is a manufacturer of active pharmaceutical ingredients for anti-retroviral, oncological and nutraceutical products. Chava Satyanarayana, founder and CEO of Aptuit Laurus, also invested along with Fidelity, according to reports. Aptuit Laurus is headquartered in Hyderabad. Source: Indus Business Adani group today said that it is interested in bidding for British Gas’ stake in city gas distribution company—Gujarat Gas. “Currently, due diligence process of BG’s stake in Gujarat Gas is going on. We are interested in evaluation and and we are evaluating it. We shall share more details when the time is right,” said Ameet Desai, managing director of Adani Enterprises. British Gas has decided to exit from the business in which it has 65 per cent stake. […] In its first investment in the agri services sector, IDFC Private Equity has invested Rs. 150 crore in agri-services provider Staragri Warehousing and Collateral Management Ltd for a significant minority stake. The Jaipur-headquartered firm, which was founded in 2006, offers warehousing, procurement and collateral management of agri commodities. It has a presence in 10 states and operates 750 agri-commodity warehouses with a cumulative capacity of around 1 million tonnes (mt). It also provides allied services such as testing, certification and […] Indian Hotels Co Ltd (IHCL), the Tata group hospitality flagship, had last March announced Rs320 crore investment by Singapore based private equity firm, Omega TC Holdings Pte Ltd, into its subsidiary Roots Corp Ltd (RCL) that runs the Ginger chain of budget hotels in India. The IHCL management had then said that Omega TC was chosen after discussions with a few PE players and the investment, which was to be made in various tranches till 2014, included buying out some […] IL&FS Investment Managers, the private equity arm of IL&FS, is in advanced talks to pick up the Hershey Company’s 51 percent stake in its joint venture with the Godrej Group, the Economic Times newspaper said on Wednesday. The Godrej Hersheys joint venture, which is likely to come apart due to differences in business strategy between the partners, is valued at 5.5-6 billion rupees, the report said, citing investment banking sources. The deal will allow IL&FS to regain ownership of the […] The private equity arm of India’s Infrastructure Development Finance Co said on Thursday it invested 1.5 billion rupees ($30.47 million) in an agriculture services company, Staragri Warehousing and Collateral Management Ltd. IDFC private equity, which manages about $1.3 billion, will pick up a significant minority stake in the company, it said in a statement. Staragri, a Jaipur-based company, is into agri-commodity warehousing services. Source: Economic Times L Capital, the private equity arm of LVMH, the world’s biggest luxury goods group, has bought the 8% stake held by Wolfensohn Capital Partners in unlisted Indian ethnic wear chain Fabindia, two sources with direct knowledge of the matter said. The valuations and terms of the agreement were not immediately available. Media reports have valued Fabindia at about Rs 1,400 crore, “The deal is done. A formal announcement is expected shortly,” one of the sources said. Wolfensohn Capital Partners, the […] Technology investors IDG Ventures India and SAIF Partners have closed one of the biggest venture investments in a specialised online retailer, pumping $14 million (Rs 68 crore) into e-commerce firm BrainBees Solutions, which runs baby-care portal First Cry and the newly-launched GoodLife for beauty and wellness products. The funding, led by IDG, closed on Saturday and underscores the frenetic deal-making across the country’s ecommerce industry. It comes just a week after online fashion retailer Myntra announced a $21 million funding […] Hyderabad-based Associated Broadcasting Company Ltd (ABCL), which runs a clutch of regional news channels, has mandated Edelweiss Capital to find an investor that also includes complete exit from the business if the valuation is right. ABCL has a fund requirement of Rs 4 billion to launch news channels in Tamil for the Chennai market, Oriya and Hindi for the National Capital Region (NCR). The plan is to expand its fleet of channels to nine. “We are looking at an investor […] Life Insurance Corporation of India (LIC) will pick up 5 per cent stake in Bank of Maharashtra through the lender’s preferential allotment of shares valued at around Rs 140 crore. The board of directors of the bank has decided “to issue 2.53 crore equity shares as LIC of India may approve, on preferential allotment basis….,” Bank of Maharashtra said in a filing to the BSE. At the prevailing share price of Bank of Maharashtra at Rs 56.05, the deal would […] |