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Elara Capital, the UK-based financial services major with a strong Indian presence, is set to enter the private equity (PE) space. The company is in discussion with a Dubai-based financial major to launch a healthcare fund soon. Elara Capital Plc, a registered foreign institutional investor (FII) in India, manages several funds including Elara India Gateway Fund, domiciled in Luxembourg, and Elara India Opportunities Fund Ltd (EIOF), domiciled in Mauritius. The healthcare fund will have its focus on India, other south-east […]
Healthcare service provider Apollo Hospitals and medical technology company Trivitron Healthcare on Monday announced a joint venture for a chain of dental clinics in the high-end and affordable healthcare segments in the country. The joint venture, Alliance Dental Care, is looking to set up 100 clinics across India over the next 18 months of which 5-7 will be luxury dental spas for cosmetic procedures, 40-50 will be dental studios in major metros and the rest affordable dental care centres. Apollo […]
Real estate developer Assotech today said it will raise Rs 75 crore from private equity firm Sun-Apollo India Real Estate Fund by selling 49 per cent stake in a housing project in Gurgaon.
“We will divest 49 per cent stake in a project to Sun-Apollo to raise Rs 75 crore. This investment is only for a specific group housing project in Gurgaon,” Assotech Managing Director Sanjeev Srivastava told PTI.
The National Capital Region-based company is developing the project […]
While the SC verdict on 2G licences was a blow to the telecom industry, companies such as Bharti Airtel and Idea Cellular, backed by private equity (PE) players, have benefited. Bharti and Idea have investments from Temasek Holdings and Providence Equity Partners, respectively. The shares of Idea went up 2.7 per cent to close at Rs 95.85 on the Bombay Stock Exchange. Bharti Airtel went up 6.9 per cent to close at Rs 385.95. In many ways, the PE rush […]
US private equity firms Carlyle Group and Warburg Pincus took advantage of recent market gains to pare stakes in two financial companies in deals worth $440 million, a sign of investor wariness about the sustainability of the rally. Buyout firms that invested billions of dollars during the market’s boom years before the global financial crisis are widely expected to look for opportunities to cash in their holdings, with more stake sales anticipated in coming months. “We will definitely see more […]
After backing SKS Microfinance, Sequoia Capital is now betting on another microfinance player, Bangalore-based urban poor-focused Ujjivan Financial Services, a member of the Grameen Network, Bangladesh. Sequoia Capital on Wednesday said it had participated in the fifth round of equity financing by Ujjivan, and was now the single-largest shareholder, with a stake of around 15.7 per cent. It added it had raised Rs 127.9 crore ($25.5 million). Two new foreign institutional investors (FIIs), FMO (Netherlands Development Finance Company) and WCP […]
Au Financiers (India) Pvt. Ltd, a Jaipur-headquartered non-banking financial company (NBFC), is in talks with private equity (PE) investors for a third round of primary funding, said three people familiar with the development. “The company has initiated talks with Warburg Pincus India Pvt. Ltd, Carlyle India Advisors Pvt. Ltd and other investors,” said one of the persons. Ernst and Young Pvt. Ltd has been given the mandate, confirmed the second person. Two of them are directly associated with the company, […]
Private equity giant Blackstone has pledged its entire equity stake in Gokaldas Exports, the country’s largest apparel exporter, to raise funds marking a rare instance in which a PF fund has resorted to this method to raise money.
Regulatory filings for the October to December period in 2011 show that the company’s foreign promoter, Blackstone FP Capital Partners Mauritius, has pledged its 68.27% stake. It did not disclose details about the funds raised.
“Blackstone’s Gokaldas’ stake is held […]
Supreme Infrastructure India today said private equity fund 3i India Infrastructure has picked up a minority stake in its BOT road projects’ portfolio for $61 million (about Rs 310 crore). “We received offers from a number of investors but chose to partner with 3i given their track record in India and understanding of the infrastructure sector,” the Supreme Infrastructure (SIIL) Managing Director, Mr Vikram Sharma, said in a statement. The company has built over 400 km highways and currently sitting […]
Starbucks Corp, the world’s largest coffee company, signed a deal with Tata Global Beverages to open its first coffee shop in India, a year after it announced its retail foray into the country. The Seattle-based company signed a pact with Tata Global Beverages in January 2011 to buy coffee from India and open retail outlets in the country. Tata Global Beverages, part of the salt-to-software Tata conglomerate, said it would form an equal joint venture with Starbucks to run cafes […]
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