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IT consulting and outsourcing company, Mahindra Satyam (formerly Satyam Computer Services Limited), has signed an agreement with New Delhi-based Dion Global Solutions Limited to acquire a strategic stake in the latter by way of fresh issue of equity shares. “Mahindra Satyam will pick up around 15% stake in Dion Global initially, which is expected to be increased at a later stage,” a top official of Mahindra Satyam said, requesting anonymity. In a filing to the BSE on Friday, Mahindra Satyam […] IT company Manthan Systems today said it has secured $15 million investment from the US-based Norwest Venture Partners and it will use the same for funding acquisitions and other business expansion plans. The company, a software solutions provider for retail and consumer packaged goods industries, had earlier raised $35 million from Fidelity, IDG Ventures and other sources. As a result of the funding, NVP India’s Executive Director Mohan Kumar India will be joining Manthan’s Board, Manthan Systems said in a […] India continues to be a small- to medium-sized deal market, with SMEs continuing to be the backbone of most PE investment portfolios in India, according to a recent report by Protiviti Consultants and the Asian Venture Capital Journal. The report, India Investment Opportunity: An Insight, based on a survey of PE fund executives, said that 48 per cent of respondents felt SMEs presented a better value opportunity than other categories of companies, while 40 per cent said it would depend […] Private equity (PE) companies, whose investments have been stuck for four-five years due to lack of viable exit routes, are in a rush to sell stakes to peers. High valuations and a tough initial public offer (IPO) market saw 2011 witnessing the largest secondary transactions in the domestic PE space. This year, the space has witnessed two major transactions worth $200 million, when Olympus Capital and General Atlantic bought stakes in Indian firms through the secondary route. Vikram Utamsingh, head […] Private Equity (PE) firms, whose investments have got stuck for the last 4-5 years due to lack of exit opportunities, are in a rush to sell their stake to peers. Due to the tough initial public offer (IPO) market, 2011 witnessed largest size of secondary transaction in Indian PE space. With the beginning of 2012, the PE industry witnessed two major transactions worth $200 million (about Rs 1,000 crore), where Warburg Pincus and General Atlantic bought stake in Indian firms […] Flipkart, the poster child of Indian eCommerce, has acquired LetsBuy for $25 mn. This is a sign of things to come for eCommerce in India as lot of startups are looking for a payday. If 2011 was the year of starting up eCommercing sites selling anything from pots to shoes, 2012 would be an year of reflection and consolidation. The news is broke by Medianama yesterday night. Mainstream media doesn’t have it yet and also the news and other details […] Singapore government’s investment arm Temasek Holdings’ unit Allamanda Investments has sold shares worth $300 million (about Rs 1,500 crore) in India’s largest private sector lender ICICI Bank. As per the bulk deal transaction data at stock exchanges, about 40 per cent of the sold shares were acquired by global financial services giant Goldman Sachs, but the identity of the other buyers could not be ascertained. The shares of ICICI Bank today slipped 1.8 per cent to close at Rs 919.85. […] Thomas Cook Group Plc said it will sell the 77.1% stake it holds in its Indian unit if the company gets an attractive offer, and use the funds to reduce debt. The UK-based tour operator said it has received a number of unsolicited informal expressions of interest from third parties to buy its stake in Thomas Cook (India) Ltd and has decided to start a formal sale process. “If the offers are attractive, we will consider selling our stake […] Bahraini telecommunications company Batelco Group on Wednesday said it was selling its stake in Indian mobile operator S Tel for $174.5 million, just days after India’s top court nullified more than 100 mobile phone licenses. Batelco amassed its 42.7 per cent stake in S Tel less than three years ago. It said it hoped to complete the sale to India’s Sky City Foundation by the end of October. Batelco said it had been considering offloading the S Tel stake since […] PE majors New Silk Route and Bain Capital are holding talks for a $30-million minority investment in Barbeque Nation, a restaurant subsidiary of Sayaji Hotels, said sources familiar with the matter. The two funds were vying for a little over 26% stake in Barbeque Nation Hospitality, which has mandated boutique investment bank o3 Capital for fund raising. The potential deal could value the restaurant chain at over $100 million, or about Rs 500 crore, if the funds agree to […] |