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CNBC-TV18 has learnt that domestic electric equipment maker RTS Power is likely to sell 14.5% stake to a strategic partner. A couple of leading power equipment companies are in the race to acquire stake, sources said. The company may issue preferential shares to strategic investors. Companies like Kalpataru Power and ABB are the likely contenders. It was also in talks with L&T at some point of time. RTS Power was looking for a strategic partner to bring in a lot of business. […] Japanese financial services giant Orix is picking up a 5% stake in IL&FS Securities Services (ISSL) for Rs 36 crore. The stake purchase by the $8-billion Japanese company puts the enterprise value of ISSL at Rs 720 crore. ISSL was initially set up as a captive division within IL&FS to provide back office services. It was hived off as a separate wholly owned arm of IL&FS last year. […] Jet Airways, planning to launch the JetLite brand from mid-July 2007, is scouting for new investors, reports NDTV. Jet Airways after acquiring Air Sahara converted the airliner into a low-cost carrier under the brand JetLite. It is said that Temasek, Istithmar and TPG are the front runners to bag the deal. Jet may be willing to divest up to 25% stake in the airline and needs more than Rs 2 billion to revive the airline. […] AM Global Infrastructure Partners, a private equity firm, said it agreed to buy a 25% stake in Chennai Container Terminal Private Limited, through its International Port Holdings portfolio company. The financial terms of the transaction were not disclosed. Chennai Container Terminal, located within Chennai Port on the South East Coast of India, serves the trade route between Europe and the Far East. Dubai Ports World owns the remaining 75% stake in the terminal. […] Niche segments such as clinical research, online gaming, third-party logistics, mobile handset design and online bill paying firms are increasingly attracting the attention of private equity (PE) and venture capital funds (VCFs) as they view these businesses as sure-shot winners of tomorrow. Clearstone Venture Partners, which has a fund size of $200 million dedicated to high-growth companies in India and the US, has made investments in domestic companies. Its niche plays include Games2Win, an online gaming company, Billdesk.com, an electronic bill-paying company and DGB Microsystems, a mobile handset design company. […] Shekhar Kapur, the director of Oscar-nominated film Elizabeth, is in talks to raise a $500 million fund in Singapore to invest in the entertainment industry, including movies and music across Asia, according to Bloomberg. In an interview given to Bloomberg, Kapur said that the Investors in Singapore were more willing to bet on businesses that might take a longer period of time to make a profit, unlike hedge funds or private equity firms. […] In what is the first buyout in the India-focused real estate fund space, Yatra Capital Ltd, an Amsterdam-listed fund, has bought out Eredene Capital Mauritius through its subsidiary K2 Property Ltd for €18.07 million (Rs99.39 crore) Eredene, listed on London’s Alternate Investment Market, had raised a $100 million (Rs410 crore) India-focused realty fund that listed on Euronext in December, in which hedge funds such as GLG Partners LP, Calyon & Cayman Family, and Henderson Global Investors had invested. Earlier this year, Citigroup Ventures acquired Old Lane, a hedge fund that had a $500 million real estate focused fund and a $500 million general fund that was also investing in real estate, as well as ajoint venture with a Chennai-based developer. […] Infrastructure Development Finance Company (IDFC) has hiked its stake in SSKI, a Mumbai-based privately held domestic corporate finance and institutional securities company from the current 33.33% to 66.67%. According to market talk, IDFC is said to have hiked its stake by shelling out Rs 150 crore. The company had bought the initial 33% stake in September 2006 for Rs 100 crore. Prior to the current deal, IDFC, Shripal Morakhia and employees held around 33% each in the brokerage entity. The development finally puts to rest all rumours related to the stake sale of Mr Morakhia, promoter of SSKI. Names of JM Financial and Reliance Money were also doing the rounds as potential acquirers. […] JP Morgan’s real estate arm is in talks with Bangalore-based realty developer Prestige Group to infuse close to $100 million in the company, sources said. They said the infusion could be through equity placement or debt financing in the flagship company Prestige Estates & Projects. Sources said the cash generated could be employed for developing projects across south India, as Prestige looks to expand its footprint outside Bangalore in a big way. Last year, Prestige had reportedly raised $100 million through debt financing for specific projects. […] The focus of Indian airline companies seems to be shifting from chasing consumers to chasing capital. Almost all of them are wooing private equity investors to rope in some money. And while PE players are more than keen to invest in the Indian aviation market, they are holding back. Deccan struggeld for over six months to rope in private equity players, Go Air has been in the market for over a year. In fact, almost all airlines in India have been working hard to crack a deal with investors – but with little luck! […] |