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Evolvence India Holdings Plc ('EIH' or 'the Company'), an Isle of Man, private equity fund of funds holding company that focuses on India, today announced its unaudited net asset value as of March 31, 2007, being its first update since admitting to AIM on 23 March 2007. EIH is promoted by Evolvence Capital Ltd ('Evolvence Capital'), a Dubai based alternative investments company with assets under management of approximately US$ one billion. […] Bennett, Coleman & Co. Ltd has acquired a stake in Zicom Electronic Security Systems, one of the leading electronic security solution providers in the country. […] IFCI plans to invite bids from investors for sale of 26% in the early week of July. The institution has decided to make public a ‘memorandum of information’ inviting interested parties, said senior IFCI officials. They said that IFCI has decided not to convert itself into a bank, but continue as a term-lending institution. “If we become a bank, we would be like any other. We may not even rank among the top 10 banks in India. Further, a bank has to follow directed lending rules, invest one-fourth of its deposits in government securities, and another 5.5% has to be deposited with RBI in the form of cash reserve ratio. These stipulations are not there for FIs,” they said. IFCI officials added they would instead aim at being a world-class term-lending institution. […] Three renowned financial institutions, Khaleej Finance and Investment (KFI) based in Bahrain, Kuwait Investment Company (KIC) and Kuwait Finance House (KFH)-Baytak – from Kuwait have signed a partnership agreement to manage and promote the 'Indian Private Equity Fund', a Sharia compliant USD 200 million fund, targeting a variety of activities with controlled risks in growing sectors, notably real estate and industry in India. […] Private equity firm Blackstone that was in the race to acquire Intelenet is close to clinching the deal for $200 million that will give it a majority stake in the BPO. Intelenet, ranked among the top 15 BPOs in the country, was up for sale with both its partners, HDFC and Barclays Bank, interested in exiting their holdings. The BPO is a 50:50 partnership between the two. Sources familiar with the development confirmed that Blackstone was in advanced talks and the deal was likely to be concluded next week. “A few issues still remain to be ironed out,” said another source. Company officials could not be reached. […] SME financing institution Small Industries Development Bank of India (SIDBI) has floated a private equity (PE) fund with an initial corpus of Rs 100 crore to help its customers expand their operations. “We have recently set up a fund to … […] India’s SMEs are no longer depending on banks for funding. Now, leading investment houses and private equity, or PE funds are cashing in on the funding needs of the SMEs, reports CNBC-TV18.
PE funds have started lining up at the doors … […] Investment bankers of the carriers to meet next week. Barely two months after the Air Sahara acquisition, Jet Airways, the country’s largest private airline, is interested in SpiceJet, the Delhi-based budget carrier. Investment bankers of both the companies are expected to meet next week to discuss the issue. […] VC firm Helion Venture Partners has closed in on its next investee company. The firm, which has made six investments since August 2006, is making a sub $10 million investment in Amba Research, an investment research outsourcing (IRO) firm. Sanjeev … […] Infrastructure Development Finance Corporation (IDFC) has exited Hutchison-Essar by selling its stake in the holding company to group firm IDFC Private Equity for around $25m-$30m. IDFC Private Equity has taken on the stake held by IDFC in India’s third largest … […] |