|
|
Hyderabad-based software solutions and IPTV provider Goldstone Technologies has acquired 51% stake in 4G Informatics for an undisclosed amount. 4G Informatics is a privately-held firm in Hyderabad specialising in biometric identity solutions, With the acquisition, Goldstone will be getting a foothold in the emerging identity solutions market in India. The company will use a combination of cash and stock as per the guidelines of the Securities and Exchange Board of India (Sebi) to fund the acquisition, according to a release issued by the company today. The cash component would be used to pay part of the consideration to the promoters of 4G Informatics. Sreeni Tripuraneni, founder and chief executive officer of 4G Informatics, would continue to manage the company along with its team. Goldstone Technologies will appoint two directors to the board of 4G Informatics.(Business Standard) […]
Shriram Properties, a Bangalore-based property developer, has raised $100 million by selling a minority stake to Walton Street Capital, a US- based real estate private equity fund having assets worth $14 billion, to develop real estate projects in India. Shriram Properties is part of the diversified Rs 25,000 crore Shriram Group, and plans to utilise the funds to build land bank in north and west of the country. The company, which began operations in 1995, has so far completed five million square feet of properties in Bangalore, Chennai, Hyderabad and Coimbatore. According to M Murali, managing director, Shriram Properties, “the money raised will be utilised to buy land in Gurgaon and Pune. The funds are to be invested in less than one year.” “The investment of Walton Street Capital is an extension of our relationship we had in taking up the development of the Hindustan Motors factory land in Kolkata through a special purpose vehicle (SPV),” he added. […]
Infosys, the country’s second-largest software and services firm, expects to close 15 overseas deals, each worth over $100 million, in the next 10 months, company managing director and CEO S Gopalakrishnan said on Tuesday. It has also identified three to five acquisition targets overseas, including a consulting firm. “We are in the race for 15 deals of over $100 million outside India,” Mr Gopalakrishnan, or Kris as he is known in the industry, said. The company is also looking at closing smaller deals worth $10-15 million in the same time period. For acquisitions, Infosys has set aside about $500 million. In July this year, Infosys BPO had signed a $250-million outsourcing contract with Royal Philips Electronics, which included the $28-million acquisition of its three shared service centres in India, Poland and Thailand. […]
Focused entirely on domestic automotive components industry, IFCI Venture Capital Funds Ltd is launching a private equity fund in association with German consultancy UBF-B worth €100 million (about Rs 550 crore). The fund managers plan to invest the initial corpus of €100 million in about 30 companies which are at the bottom of the growth curve. “Strong corporate governance is a pre-requisite for the firm to attract investment from outside,” said Mr Rajeev Mukhija, Deputy General Manager, IFCI Venture Capital Funds. The fund, which will have a life of 10 years, is anticipated to have its first closing on March 31, 2008. It will be constituted as two-tier hybrid fund structure with Indian investors contributing in India Domiciled Trust Fund and international investors contributing to Overseas Domiciled Limited Liability Company. “We will base the Overseas Domiciled Limited Liability Company in either Cyprus or Mauritius where foreign investors can enjoy tax benefits. We are targeting €40 million from the overseas investment, while the rest would be from Indian investors,” said Mr Mukhija. […]
Sintex France SAS, a downstream subsidiary of Sintex Holdings BV, Netherlands (Sintex Offshore Holdings) has acquired 100% shareholding of Nief Plastics SA, France (Nief). Sintex Offshore Holdings is a wholly-owned subsidiary of Sintex Industries. The deal has been finalised as a cash transaction of euro 30.70 million (equity value). According to a release issued by Sintex to the BSE today, Nief Plastics manufactures a wide range of exterior and interior plastic component systems and thermosets. The products are widely used not only in the electrical, automotive, and aerospace sectors, but also in household appliances, building industry, sports / leisure as well as the finished products market. […]
Cisco Systems Inc said it is extending another 100 mln usd to its venture investment in India and, as a initial step, is collaborating with Satyam Computer Services to explore a new operation in healthcare management. The network equipment maker also expects 60-70 pct of its growth to come from emerging countries, including India, the company said today at the inauguration of its globalisation centre in India's software hub Bangalore. (CNN) […]
JPMorgan & Chase Co., the third- largest U.S. bank, set up a $2 billion fund focusing on infrastructure investments in India, where spending on roads, ports and power may double over the next five years. The fund will be ready to invest in companies and projects by the end of this year, Anil Bhalla, managing director of the Asian Clients Group at J.P. Morgan Securities Inc., said in an interview in Mumbai yesterday. JPMorgan joins Blackstone Group, Citigroup Inc. and ICICI Bank Ltd. in starting infrastructure funds in India, the world's fastest growing major economy after China. The nation may ease borrowing restrictions to help finance an estimated $500 billion required in public works by 2012, according to Finance Minister Palaniappan Chidambaram. […]
The Internet search giant Google has invested in the early stage venture capital fund Ventureast TeNet Fund II – a seed-stage fund run by the Tenet Group of IIT, Madras and Ventureast Fund Advisors. The company has also joined the Indian Angel Network, an organization of professionals and companies dedicated to supporting entrepreneurship in India. The Ventureast TeNet II fund invests in technology that enables early stage entrepreneurs to get their businesses off the ground. Emphasis is placed on technologies and solutions focused on small and medium-sized enterprises and bridging the digital divide in India and global markets. The Indian Angel Network brings together entrepreneurs, companies and CEOs from India and around the world to provide money, mentoring and strategic inputs to early stage ventures in multiple sectors. […]
Ortel Communications Ltd, Orissa's leading multi-system operator (MSO), is eyeing private equity investors and plans to raise Rs 2 billion to fund its expansion programme. Ortel has given the fund raising mandate to Equrius. “We are looking to raise money through private equity investors. Though our fund requirement for expansion is Rs 2 billion, we will also be raising debt. The exact debt:equity mix is being worked out,” Ortel Communications promoter Jagi Mangat Panda has told Indiantelevision.com. The MSO is planning to launch cable TV services in Kolkata, Vizag and Raipur. It currently operates in 10 cities of Orissa and ended with a topline of Rs 370 million for the fiscal ended 2006-07. […]
A couple of private equity (PE) firms have evinced interest in picking up around 40 per cent stake in Valecha Infrastructure, a wholly-owned subsidiary of mid-sized road construction player Valecha Engineering. “We have plans to dilute 40 per cent stake in Valecha Infrastructure. Two PE players – one from India and another from overseas – have evinced interest to pick up stake in the company. We hope to close the deal shortly,” said, Valecha Engineering Managing Director Jagdish Valecha. Valecha Infrastructure plans to raise Rs 100 crore by diluting the stake and grab orders worth Rs 1,000 crore in one year in three verticals – transport, power and real estate. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|