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Reliance Technology Ventures Limited (RTVL), led by Mr Harshal Shah, played a pivotal role in Reliance Communication's acquisition of US based Yipes Holding, Inc (Yipes), the leading provider of managed Ethernet Services. Reliance Communications, through an affiliate, is acquiring 100% of Yipes, in an all cash deal valued at Rs. 1,200 crore ($300 mn). RTVL has advised and/or invested in deals to the tune of over $700 million. Yatra.com, India's largest on-line travel portal is one of its portfolio companies. RTVL has also led the investment in an unnamed technology company which formed the basis of the largest venture capital transaction in India. […]
US-based Internet giants such as Google and Yahoo are eyeing Rediff.com India Ltd, which runs one of India's most popular consumer Internet portals, for a possible acquisition. Investment banking sources told Hindustan Times that the management of Nasdaq-listed Rediff was in talks with the global companies for a negotiated takeover deal. Rediff, Google and Yahoo officials could not be immediately reached for their comments. Talk of the deal is emerging in the context of a general worldwide rebound in the Internet business, and India emerging as a hot story in the global economy with strong growth in both telephone penetration and the Internet in urban areas. Leading US-based investment journal Barrons reported this month that Rediff is seeing speculation that it could be a takeover target. Rediff’s stock has witnessed a sharp jump in share price and volume on Nasdaq over the past week, when it also launched a Website to help consumers upload voice, video and photographic content for free. […]
Engineering company RSB Group on Monday announced private equity placement worth Rs 154.35 crore by IL&FS Investment Managers as lead investor along with Evolvence. RSB will use the funds for capital expansion and to grow organically through joint ventures and acquisition, the company said in a release here. “We believe that auto ancillary and construction equipment sectors in India are high growth areas, driven by increased infrastructure spending, development of roads and highways and rising exports,” IILM's Vice Chairman and Managing Director Shahzaad Dalal said. […]
Standard Chartered and IL&FS Investment Managers are close to signing an agreement to raise a $1 billion India-focused infrastructure private equity fund, the Business Standard said on Tuesday. The two companies are expected to finalise a joint venture to manage the fund, which will be announced by the end of the month, the newspaper said, in an unsourced report. A spokesman for IL&FS declined to comment. A spokesman for Standard Chartered did not immediately return a call. […]
Leading private equity players Baring and CVC are picking up 7.5% equity each in Madhya Pradesh-based KS Oils. At a price of Rs 419 per share, each would be investing Rs 90 crore in the company. While KS Oils has roped in Baring Private Equity Asia to directly acquire 7.5% in the company, CVC would be investing by way of private placement of GDRs, or Global Depository Receipts. CVC already holds 14.9% equity in the company. This is part of KS Oils’ drive to raise Rs 400 crore for its expansion plans. The company board has also approved Rs 120 crore to be raised through foreign currency convertible bonds and Rs 100 crore from the promoters’ by way of subscription of convertible warrants. […]
JM Financial is planning to launch a $400-$500 million second private equity (PE) fund. The first PE fund, which is worth $200 million, has invested in Genesis Colors, International Tractors and the Sona group. Kampani said, “Talks for the PE fund is in its final stages.”
In retail broking space, the company is planning to open more branches by scaling them up from the present 16 to 30. “This year, about 70% of the business for investment banking will come […]
Red Fort Capital, a Cayman Islands-based private equity fund, is planning to raise $875 million (Rs 3,500 crore) fund to invest in Indian properties. The fund has committed $100 million in projects of the Bangalore-based Prestige Group. “We have invested in land, residential and commercial projects in Bangalore, Chennai, Hyderabad, and Kochi. We are also planning to invest in Goa, Mumbai, and the NCR (national capital region) in future,'' said Subhash Bedi, partner, Red Fort Capital. Bedi said the realty sector in the country presented a good investment opportunity. “Despite the Reserve Bank of India's (RBI) curbs on lending to the real estate, it remains a lucrative investment,” he said. […]
Credit Suisse is buying up to 15 percent in Park Hotels for $50-$55 million, two newspapers reported on Monday. Credit Suisse's real estate fund will acquire 10-15 percent in the hotel chain in a structured deal, a business daily said, citing sources close to the development. The deal is expected to be announced on Monday, another paper said, also citing sources close to the development. A spokeswoman for Park said she had no information at this point. A spokeswoman for Credit Suisse declined comment. […]
Reliance Communications Ltd., India's second-largest wireless company, acquired all of U.S.- based Yipes Communications Inc. for about $300 million, adding customers and markets to its enterprise-data services business. FLAG Telecom Group Ltd., the undersea-cable unit of Reliance Communications, bought the stake from Norwest Venture Partners, JPMorgan Partners LLC, Crosslink Capital and Sprout Group, Chairman Anil Ambani said in Mumbai today. Yipes, which provides a high-speed data services to about 1,000 customers in 14 U.S. cities, runs an optic fiber network of more than 22,000 kilometers (13,670 miles), he said. Yipes will accelerate Reliance Communications' entry into the $90 billion global market for enterprise and institutional data services, Ambani said. Bandwidth demand is rising in India as software companies such as Infosys Technologies Ltd. and Tata Consultancy Services Ltd. win orders from overseas clients. […]
Indian companies have already seen a considerable number of mergers and acquisitions in 2007. Here are some highlights from the latest study on the mergers and acquisitions in India in the first half of this year. According to the Grant Thornton half-yearly tracker, one of India's traditional sector, textiles, has started seeing several outbound cross border deals. Some of the larger acquisitions in this segment have been made by companies such as Spentex Industries, Himatsingka Seide, and GHCL. The first half of 2007 has been another milestone in the M&A and private equity space in India. Both M&A and private equities have touched unprecedented deal values. […]
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