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KSK Emerging India Energy Fund, which will make investments in Indian power and energy companies, plans to raise up to 101 million pounds through its listing on the Alternative Investment Market next week. The newly incorporated firm in Guernsey, Channel Islands plans to list its shares on AIM, which is part of the London Stock Exchange, on June 9. It would seek registration in Guernsey as a closed ended investment entity. The objective of the company is to generate long-term capital growth for its shareholders through diversified exposure to an actively managed portfolio of investments into companies engaged in the Indian power and energy sector value chain. The company would target predominantly unlisted companies with strong growth prospects and experienced management teams that require capital for growth, KSK Emerging India Energy Fund said in a regulatory filing, which is mandatory prior to the listing. It would mainly target investment in growth capital companies such as those engaged in manufacture of equipment, providers of engineering, design and construction services. […]
Funds managed and advised by Motilal Oswal Venture Capital Advisors Private Limited (“MOVCAPL”) and its associates, have invested Rs. 60 Crs in Parag Milk Foods Pvt. Ltd (“Parag/ Gowardhan”), one of the fastest growing dairy in the country and selling under the brand “Gowardhan”. Parag, based out of Maharashtra, is one of the few players that use 100% cow milk for all their products. Its product portfolio includes liquid milk and various dairy products such as milk powder, cheese, ghee, butter, cream, curd, butter milk and gulab jamun mix. Parag has a state-of-the-art Bhagyalaxmi dairy farm spread over an area of 30 acres and equipped with the latest rotary parlour for milking cows. This has been a path breaking initiative by the company and will put the Company in the league of global dairy companies once scaled up. […]
Reliance Communications (RCom), India's second-biggest mobile phone company, has hired Germany's Deutsche Bank as arranger to fund the possible acquisition of South African telecom giant MTN Group. RCom plans to raise about $14 billion, or about 30 per cent of MTN's total enterprise value of $45 billion including premium, from private equity players. The remaining $31 billion will be adjusted with the share exchange of the promoters,” a source familiar with the situation told Business Standard. Deutsche Bank, Germany's biggest bank, is in talks with private equity companies, including the Carlyle Group, the Blackstone Group and Apax Partners to raise funds. RCom has given Deutshce Bank the freedom to raise funds from private equity companies, banks and other financial players. However, the source declined to divulge the details of the route of funding RCom was considering. When contacted, an RCom spokesperson declined to comment. RCom, which had commenced the due diligence of the MTN Group last week, is expected to close it by this weekend. “This is a large process as books and financials of subsidiaries in 21 countries have to be checked but the company will close it this week itself,” he added. […]
Private equity firms Blackstone, Apax Partners and Carlyle are gearing up a war chest of $5billion for Anil Ambani’s Reliance Communication Ltd’s (R com) deal with the South African telecom giant MTN. However the role of the private equity firms is not very clear since the corpus of $5 billion is not a very substantial amount for the deal, which would essentially entail exchanging shares. According to sources the firms are willing to raise the corpus for the deal which if comes through would see, Anil Ambani exchange his majority stake in his Group’s flagship company for up-to 39.4% stake in the resulting firm. R com’s banker on raising funds for the acquisition is Deutsch Bank. […]
While the foreign institutional investors might be miffed with the Indian equity market and be steadily decreasing their exposure, private equity players might not, as returns earned by deals remain in the positive zone. Incidentally, private equity investors took a record $19.5 billion exposure in India, significantly higher than the $12.8 billion in China. In this segment, the pre-IPO marker seems to have been the stellar area where investments made in 2007, and marked to market till end of May, have seen the deals generate a 128.30% return, says a study conducted by New Delhi based SMC Investment Solutions & Services. Earlier known as the venture capital, pre-IPO route is where private equity funds invest in the company way before the IPO and then earn the gains by exiting after listing or in the secondary market at an opportune time. […]
The lure of infrastructure finance opportunities is prompting more players to set up dedicated funds. The Kotak Mahindra Group is now looking at launching a $1-billion infrastructure fund, for which it could tie up with a global player. It is also looking at options of setting up a hedge fund type structure from one of its overseas arms to invest in India. The group had last year moved its private equity and real estate funds under Kotak Investment Advisors (KIAL). This alternate assets division already has assets under management of nearly $1.6 billion, which would increase to around $2.5-3 billion in a year’s time if the infrastructure fund gets launched. It is also in the process of raising funds from overseas markets for its private equity and real estate funds. KIAL, which came into effect from October 1, 2007, had posted a net profit of Rs 13.5 crore for the year ended March 2008. […]
Noida-based infrastructure developer Jaiprakash Associates is considering a dilution of its equity to fund the initial expenses of the Rs 40,000-crore Ganga Expressway Project. If market sources are to be believed, the company is in talks with a handful of foreign investors. This is not the first time Jaiprakash Associates is offloading stake to fund a project. The company had raised Rs 1,150 crore by selling 1% stake to ICICI Bank. The dilution was effected to capitalise Jaypee Infratech, a subsidiary company formed to develop, construct and operate Taj Expressway, a 165-km, six-lane access controlled toll expressway between Noida and Agra in Uttar Pradesh. […]
Realty developer Phoenix Mills, promoted by Atul Ruia, plans to raise nearly $450 million (nearly Rs 1,890 crore) from private equity investors to fund its mall and hospitality projects, a top company official said today. “We will raise these funds at the project level and all the projects are FDI-compliant. We have got good response from investors,'' said Mahesh Iyer, chief financial officer of Phoenix Mills. The company is planning to raise $200 million to fund its retail projects and $250 million to fund its hospitality projects, Iyer said. The company has projects for developing 25 million sq ft of space across the country. Phoenix Hospitality, the hospitality arm of Phoenix, is developing nearly 14 hotels across the country. Phoenix has tied up with Hong Kong-based Shangri-La to manage its hotel property in Lower Parel in Mumbai and has also tied up with the Hyatt group and US-based Marriott International to manage its other hotel properties. […]
Punj Lloyd Group, a specialist in engineering, procurement and construction (EPC) services, has acquired a strategic 74 per cent stake in Technodyne International Limited, UK for an undisclosed amount. Technodyne is a specialist engineering, design and consultancy company specializing in large scale cryogenic and high pressure tanks. With projects executed across the world, Technodyne carries out the basic design and detailed engineering for complete steel and steel plus concrete tanks including associated piping, instrumentation and electrical systems. Technodyne also has track record in designing of test rigs. “This acquisition is a strategic fit and further strengthens Punj Lloyd's existing tankage and terminal business. The acquired capabilities enable the Group to provide end-to-end solutions for complete delivery of complex cryogenic, high pressure LNG, LPG, ethylene, ammonia and other similar storage tanks, a significant growth area in Oil & Gas sector. The capabilities will also be leveraged for design of refinery and petrochemical projects,” the company said in a statement. […]
Anil Ambani, the billionaire chairman of India's Reliance Communications , may link up with private equity groups in a bid to gain a powerful foothold in sub-Saharan Africa's biggest mobile phone operator MTN , the Financial Times said on Wednesday. Quoting people familiar with the situation, the FT said private equity groups had expressed interest in supporting Ambani's plan to swap all or most of his majority stake in Reliance, India's No.2 mobile operator, for up to 34.9 percent of MTN. “These are people who are all interested in telecoms and emerging markets, therefore this deal is an obvious place for them to invest,” the paper quoted a person familiar with the potential tie-up as saying. A combination of MTN, valued at $35.6 billion at Tuesday's close, and Reliance, valued at $26.9 billion, would create a top 10 global industry company to rival Japan's NTT DoCoMo […]
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