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Defying the gloomy economic scenario, over half a dozen overseas private equity funds are set to pump in R3,500 crore ($700 million) in diverse sectors in India including entertainment and leisure, energy conservation, microfinance, antenna manufacturing and surgical instruments, among others. The deals will materialise within the next fortnight or two, sources in the investment banking sector said. This comes despite the slowdown in PE investments in the last three months of 2011. While Mauritius-based PE fund APF-II is looking […]
Italian luxury brand Canali has picked up 51% stake to form a joint venture with its Indian franchise, Genesis Luxury Fashion, two persons familiar with the matter said. Though Canali had the option to set up a wholly-owned subsidiary, following the government’s decision last month to allow 100% foreign direct investment in single-brand retail, it has opted to stick to the previous ceiling. A higher shareholding would have required it to mandatorily source 30% of its products from Indian small […]
Personal care products maker Godrej Consumer Ltd had decided to sell a 4.9% stake to Baytree Investments, an arm of Singapore-based investment firm Temasek, to raise Rs 685 crore for acquisitions and reduce debts. Baytree will subscribe over 1.67 crore shares at Rs 410 a share on a preferential allotment basis, subject to the signing of a share subscription agreement and shareholders approval. “The fund will be used for further acquisitions as well as reduce debt in the company,” chairman […]
The stake is likely to fetch the country’s second-largest asset management company around $300 million (Rs 1,511 crore, at 50.37 against the dollar), valuing the business at a $1.2 billion (Rs 6,044 crore). In December, the average assets under management (AUM) stood at Rs 84,299 crore (about $17 billion). The valuation of the company is 7.11 per cent of total assets. R-Cap officials declined to comment on the issue. This would be the second stake sale in the company. In […]
Karaikal Port Private Limited, a subsidiary of Chennai-headquartered Marg Limited, is close to roping in third major private equity player. According to investment bankers close to Marg, Jacob Ballas Capital, a major private equity fund, which is investing from its third fund of $440 million, is understood to be one of the funds which is looking closely at the project. Marg Karaikal Port has so far raised around Rs 350 crore from IDFC Project Equity and Ascent Capital. MARG Karaikal […]
India’s largest diversified media conglomerate Bennett, Coleman and Co Ltd (BCCL), popularly known as the Times Group, has joined the race to pick up a majority stake in the two sports channels of Nimbus Communications.
The two channels — Neo Cricket and Neo Sports — are housed under Neo Sports Broadcast Ltd, a subsidiary of Nimbus.
Even though Nimbus is the principal shareholder in the entity, it has some other financial institutions and investors like PE giant 3i as well. […]
New Silk Route Partners, an Asia-focused private equity fund, said on Tuesday it picked a significant minority stake in educational support services provider Varsity Education Management Pvt Ltd for an undisclosed sum. The Hyderabad-based Varsity Education provides operational and support services to educational institutes across Karnataka, Andhra Pradesh, Maharashtra and Tamil Nadu states of India, the fund said in a statement. “Education is another great sector, if you are an investor and intending to capture India’s growing consumer story,” said […]
Magnetar Venture Pvt Ltd plans to launch a $100 million fund focused on clean technologies by March to funnel growth capital into budding enterprises, a senior official at the venture fund told Reuters. The fund is registered with regulator Securities and Exchange Board of India (SEBI) and plans to raise $20 million in its first phase, said Reji Kumar Pillai, general partner of Magnetar Venture. Magnetar hopes to rope in state-run firms working in the field or their units as […]
Chennai-based TVS Logistics Services Ltd is in talks with private equity (PE) investors for a second round of funding, three people familiar with the development said. “We have not yet decided the quantum and stake of the investment,” managing director R. Dinesh said in a telephone interview on Saturday. The firm has plans to raise money from the equity market in the future, and this round of funding is a step in that direction since it would help his firm […]
Global private equity majors are understood to be holding discussions with Prestige Constructions to buy out a special economic zone (SEZ) here for close to Rs 1,800 crore. Called Cessna Business Park, the 4.5-million sq ft project houses marquee technology majors like Cisco as its clients. The rental-yielding fully-developed SEZ on the Sarjapur-Marathalli outer ring road, is one of Prestige’s landmark commercial space developments. A spokesperson for Prestige said there have been offers for this tech-park from global private equity […]
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