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Since Blackstone Advisors Pvt. Ltd’s debut in India back in May 2005, which it flagged off with a hefty $1 billion (Rs4,300 crore then) allocation—the largest by a single private equity investor at the time, the firm has not made significant inroads in the Indian private equity market. It has made just two investments so far: $50 million (Rs205 crore) in Pune-based Emcure Pharmaceuticals Ltd and $275 million in Ushodaya Enterprises Ltd, the Hyderabad-based media group which owns Telugu newspaper Eenadu. The two deals are a far cry from the $300-400 million-plus deals that the firm had stated as its investment mandate for India two years ago. […]
NRI venture capitalist Vinod Dham’s New Enterprise Associates (NEA) has picked up a minority stake in KK Birla-promoted mortgage BPO ISGN for about $25 million. According to market sources, the VC has picked up about 22-25% in ISGN, valuing it at about $100 million. When contacted by ET, New Enterprise Associates’ partner Ravi Viswanathan declined to confirm the equity percentage. ISGN is the third largest mortgage servicing KPO in US after Fidelity and Fiserve. In the US loan origination software market, however, it claims to the largest in with a share of 18%. […]
India’s first Shariah-compliant infrastructure fund is on its way. The 2i Capital Group, which operates in India, UK and Mauritius, in a consortium with Oman-based Amwal Investment SAOC has launched a $300-million offshore Shariah-compliant Indian Infrastructure Development Fund. The seven-year fund, registered with the Securities and Exchange Board of India (Sebi), is based in Mauritius. The fund’s investments will be made in accordance with Islamic Shariah principles; Shariah law forbids some of the standard features of typical private equity deals, including charging interest on debt. […]
IDG Ventures and SoftBank China & India Holdings have invested in Kreeda Games, a company focused on massively multiplayer online games (MMOGs). The investment is learnt to be less than $10 million. The VCs bring international experience to Kreeda — IDG’s portfolio includes VinaGames, a gaming company in Vietnam, while SoftBank has invested in the South Korea-based Gravity. The VCs see immense potential in the Indian online gaming market, which, as of January 2007, was pegged at Rs 21 crore by the Internet and Mobile Association of India (IAMAI). Kreeda’s first product, Dance Mela, is to be released by mid-August and it aims to release three games by the year-end. And when the market is ‘ready’, Kreeda plans to introduce more games. […]
The Apollo Hospitals Group will tie up with two private-equity players to bid for Capio Healthcare, the UK’s fourth-largest independent healthcare provider, chairman Dr Pratap C Reddy told DNA Money on Tuesday without disclosing the names of the companies. The biding for Capio, which is valued in the range of $2.36 billion, is set to open in August. […]
Euronext-listed Yatra Capital Ltd said its unit, K2 Property Ltd, has bought Eredene Mauritius Ltd from Eredene Capital PLC for 18.07 mln eur. The company said the acquisition — part of its 29.98 mln eur real estate investment plan in India — will provide it with a number of high quality real estate projects in the country. […]
Bellevue, Wash.-based Radiant Research, the largest owned-model site management organization (SMO) with 26 sites, has completed a sale of the business to an ownership group led by ICICI Venture, a private equity company with $2 billion under management. Company officials said June 8th that Radiant will continue to provide development, study conduct and centralized patient recruitment services. […]
Indian companies are evoking significant interest from overseas private equity investors with an inflow of $ 3.5 billion (about Rs 14,500 crore) during the first four months in this year.
This inflow is about half of that registered during 2006…. […]
IT major Patni Computer Systems is close to acquiring a European IT company for $20-25 million (around Rs 100 crore) and is expected to announce the deal in the next two months. The acquisition gains importance as two private equity majors – Apax and Carlyle – are in advanced stages of discussion to acquire a 20 per cent stake in the Indian IT major from two of its largest shareholders — Ashok Kumar Patni and Gajendra Kumar Patni — who together own about 29 per cent. […]
iLabs Private equity fund, a $300 million India-centric fund promoted by former COO of Satyam Computer Systems Srini Raju, has invested Rs 42 crore (over $10 million) in VSoft Corp. VSoft executives were, however, not available for comments. VSoft is a global information technology and solutions provider of cheque imaging and data management software. […]
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