|
Almondz Global Securities Ltd has announced that the Board of Directors of the Company at its meeting held on December 06, 2007, inter alia, has considered and discussed the proposal for making further issue of capital through preferential allotment of Equity Shares as well as Warrants. […] India's House of Pearl Fashions Ltd said it has bought a 50 pct stake in UK-based marketing company FX Imports Ltd, through its Poeticgem unit, to gain customer base in the high fashion mid-market segment. The financial details of the deal were not disclosed. The acquisition will be funded through internal accruals and the company has an option to buy the remaining 50 pct stake in FX Import over the next five years. FX Imports reported revenues of 800 mln rupees in the previous fiscal year and is aiming at annual revenues of 2 bln rupees in three years, the ready-to-wear apparel manufacturing company said in a statement. House of Pearl recently tied-up with European marquee brand Lerros to set up a retail chain in India, and is on the lookout to acquire retail and distribution firms in the US and Europe.(Forbes) […] Kamat Hotels has bought a 60% stake in Concept Hospitality for Rs 127/share, reports CNBC-TV 18’S Rahul Arora. According to Rahul Arora, Kamat Hotels has acquired 60% at Rs 120 per share. Concept Hospitality is not a listed company; it is a sister concern of the promoter Vithal Kamat who holds 60% in his personal capacity which is now been transferred to the listed entity Kamat Hotels (India) Ltd. This essentially gives Mr. Kamat an indirect holding into Concept Hospitality via his 73% holding that he currently has in the listed Kamat Hotels. The other 40% in Concept Hospitality is currently been held by Mr. Kannampilly who still retains 40% as things stand right now. Concept Hospitality is a management and consultancy company for hotels. They do not own and construct them but they manage and operate hotels. Some of the key hotels they manage are Seasons in Pune; they have a hotel called Wall Street in Jaipur and Manor Floatel in Delhi. All of these now goes under the management of Kamat Hotels. So that’s about 650 rooms that will come under the fold of the listed Kamat Hotels entity. […] International Finance Corp., a unit of the World Bank, may consider buying as much as 10 percent of IFCI Ltd., India's oldest project financier, which is seeking a new investor. “We are in talks with IFCI,'' Paolo Martelli, IFC's regional director for South Asia, said in an interview in New Delhi today. IFCI, the third best performing stock on India's BSE500 Index this year, plans to sell a 26 percent stake to a strategic investor to improve its financial performance and exit non- performing assets or those that needed to be liquidated. The lender is also in talks with multilateral institutions. The board on Dec. 1 agreed to allow Indian state-owned banks to convert bonds issued by IFCI into equity, the company said in a statement to the Bombay Stock Exchange on Dec. 4. State-owned insurers that have lent money to IFCI will convert a part of their bonds to retain their stake following the fresh share sale. […] Axon Infotech announced that the company acquired 51% stake in Bangalore-based Quasar Innovations. The company mobilized funds through unsecured loans and invested the same for the purpose of acquisition of 51% stake. Firstcall India Equity Advisors organized the funds for the company for acquiring 51% stake. never heard of it before Bangalore-based Quasar provides OEN & Network operators with device engineering from concept to finish. Quasar works in applications to create flawless, high performance terminal devices with shortened time to market and robust components. Quasar`s focus is untethered wireless devices, based on its years of experience with wireless telecom (GSM / GPRS / IXRTT, CDMA 2000, UMTS), wireless networking (802.11 a, b and c [WiFi]) and short range wireless (Bluetooth, IR) domains. The company is currently involved in building a range of cutting-edge GPRS handsets for Fortune 1000 Company`s acknowledged widely as among the world`s fastest growing telecommunications service providers. […] Jacob Ballas Capital India and JM Financial Equity Fund are in talks to pick up stakes in Indore-based 3-star hotel and restaurant chain — Sayaji Hotels. Sources said the funds are looking to pick up around 10% stake in the publicly-listed company and the deal is expected to be finalised by the month-end. When contacted, Sayaji Hotels managing director Sajid Dhanani confirmed that his company had been approached by different funds. “Nothing has been firmed up as yet,” he added. Sources said the company is raising funds by issuing fresh equity. However, the price at which the equity would be issued could not be ascertained. JM Financial would be investing through JM Financial Equity Fund, while Jacob Ballas Capital India is an NBFC focussing on private equity advisory services and has two India-focused private equity funds. Sayaji Hotels scrip closed at Rs 64, up 1.5% from the previous close on BSE on Tuesday. Currently, promoters hold 48.4% stake, while public holding stands at about 51.6%, of which Clearwater Partners holds around 14%. […] Global private equity investors are expected to increase their exposure to India, say fund managers. Many new funds are also looking to tap the growth opportunities. The UK-based Actis Capital plans to launch a $1 billion India infrastructure fund shortly. The fund already has $700 million investments in this country. The new fund would be launched early next year, Mr Steven Enderby, Partner South Asia of Actis LLP, said at the sidelines of a conference organised by the Asia Private Equity and Venture Forum here on Tuesday. Another overseas private equity investor, Evolvence Advisory Service will be launching a $300 million second India dedicated ‘fund of funds.’ It already has invested $400 million in India through “Evolvence India Fund.” The fund has seen a return of 80 per cent in the past three years, said Mr Jay V. Jegannathan, Managing Director. The fund has exposure in areas such as real estate, healthcare and infrastructure. […] Hyderabad-based e-marketing solutions company, Ybrant Technologies, is acquiring Israeli online media solutions company, Oridian, for $13 million (approximately Rs 52 crore). A definitive agreement has been signed in this regard, which is yet to get the final approval from Oridian’s shareholders. While $1 million has been paid to a trust account of Oridian for the definitive agreement, $2.5 million has to be paid at the time of closing the deal in a week. Around $6 million would be released in 90 days from the date of closure and the remaining in nine months from then, M Suresh Reddy, chairman and managing director of Ybrant, said here on Tuesday. […] Intelenet Global Services, the BPO service provider, acquired two companies; Upstream and Travelport ISO, from the private equity firm Blackstone for USD 75 million, reports Economic Times. Upstream gets a large part of its business from the travel industry. Travelport is the India-based captive unit of the global travel services firm Travelport. The acquisition will give Intelenet a wider presence and multi-lingual capability. It will add Rs 3 billion to the company`s topline and boost its employee strength by 2,400. […] Ajay Piramal group promoted Indiareit Fund Advisors is planning to raise up to Rs 4,500 crore from overseas and domestic markets to invest in real estate projects in India. The real estate venture capital fund would raise the amount in two tranches. While Rs 700 crore would be raised initially from the domestic market by the end of this month, the company plans to raise nearly one billion (Rs 3,800 crore) dollar from overseas markets by mid next year. “We have already raised Rs 1,350 crore from the existing Indiareit fund and we plan to raise another Rs 700 crore from the domestic market and 750 million to one billion dollar from overseas markets for future investments,” Piramal Enterprises Chairman Ajay Piramal said on the sidelines of India Economic Summit. […] |