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Ajmera Realty & Infra has approved the proposal to acquire the 90% stake in Laudable Infrastructure LLP Ajmera Realty & Infra India said Laudable Infrastructure LLP (Laudable) has entered into a partnership with Ajmera Bora Associates, wherein Laudable holds 67% stake and rest 33% vests in Bora Group. This partnership firm holds land of about 1.87 lakh square feet (sq.ft.) in Pune. Ajmera Realty's consolidated net profit fell 7.4% to Rs. 2.75 crore on 28% fall in total income to Rs. 3.98 crore in Q1 June 2011 over Q1 June 2010 […]
e equity firms Sequoia Capital and Nexus Venture Partners together invested $12 million in unlisted technology firm Druva for a minority stake, the Indian firm said on Wednesday. Druva, which provides advanced enterprise data-protection solutions for corporate networks, will use the funds for its expansion plans, in a statement. Druva's software provides data back-up for enterprise laptops including supports for smart phones and tablets, it said. […]
Global buyout funds, including Apax Partners and few more major strategic global players are looking at investing around $200 million to wrest control of Bangalore-based FirePro Systems. FirePro Systems, with a topline of Rs 700 crore is among the established players offering integrated solutions for fire protection, security and building management systems. According to investment bankers close to FirePro Systems, there has been immense interest and the buyout funds and strategic players are keen to take control of the company which is growing at a healthy pace. The company is looking to touch a topline of Rs 1,000 crore during the ongoing fiscal and has an impressive list of clients across various parts of the globe. […]
SREI Infrastructure Finance plans to raise $1 billion through an infrastructure equity fund that would invest in areas such as roads, power and ports, a top company official said on Thursday. The firm plans to start overseas roadshows from September, its chairman and managing director, Hemant Kanoria, said on the sidelines of a FICCI industry conference. “We are looking at $500 million for the first closing. The investments will primarily be for roads, ports and power,” Kanoria told reporters, adding that the first tranche would be raised in the next six months from overseas investors . India requires infrastructure investment of $1 trillion over the five years beginning April 2012, according to government estimates, with much of that expected to come from private investors. […]
Looking to expand its global footprint and boost sales, Gitanjali Gems will acquire a Chinese manufacturing unit and jewelry retail firm by year end. Gitanjali, India’s largest jewelry retailer retails diamond jewelry under the brands Gili, Nakshatra, Asmi and D’Damas. It recently acquired four Italian jewelry brands from Dubai’s Damas International. Gitanjali plans to open a few more stores in the Middle East by March 2012. In India, the company plans to invest Rs 2 billion to add 350 to 400 stores across various retail formats in the current fiscal year. In FY ’11 it opened 300 stores in the country and has added four new Indian diamond jewelry brands to its kitty. […]
New York-based private equity fund, India Equity Partners, has bought a controlling stake for 180 crore in Sagar Ratna Hotels, a 25-year-old popular chain specialising in South Indian cuisine. The funds will be used to open 200 more outlets over three to four years and revamp the format of the existing 70 restaurants, most of which are in North India, said a person close to IEP. […]
After scripting a blockbuster exit by earning about four times its investment in Hyderabad-based discount pharmacy chain MedPlus, Peepul Capital the $700 million private equity fund, is setting the stage for yet another healthy exit. This time, from the Chennai-based mobile phone retail chain UniverCell. According to investment bankers close to Peepul Capital, the company may be looking at atleast 2x its investment of $25 million which Peepul made during late 2008. UniverCell, with a strong presence in South India, has expanded into Maharashtra and has close to 300 stores with plans for a gradual expansion. Starting nearly a decade ago, UniverCell has been growing at a healthy pace with a topline of around Rs 500 crore. The company operates in a fast growing sector as India is adding as much as 10 million subscribers a month. India’s total mobile phone base is now in excess of 852 million and is among the top three fastest-growing markets in the world. UniverCell is up against players like Sangeetha Mobiles, Spice’s retail chain, RPG among others in the market which is estimated to be upwards of Rs 70,000 crore. […]
Private equity (PE) investments into India have risen by around 22 per cent in 2011 till date over the corresponding period of last year, to $7,160 million (Rs 32,220 crore), and the number of deals rose by around nine per cent. According to data compiled by Venture Intelligence, from January to August (till date), PE firms had invested this amount across 246 deals, compared to $5,831 mn (Rs 26,235 crore), across 226 deals in the same period in 2010. In 2011, investments were led by manufacturing ($1,398 mn across 22 deals), followed by information technology and IT-enabled services ($1,029 mn, 70 deals), engineering and construction ($796 mn, 16 deals), BFSI (banking, financial services and insurance, $790 mn, 24 deals), energy ($684 mn, 19 deals), food & beverages ($275 mn, 10 deals), health care & life sciences ($186 mn, 15 deals), other services ($137 mn, 11 deals), education ($93 mn, 10 deals) and textiles and garments ($80 mn, eight deals). […]
Ascent Capital, the Bangalore-based private equity fund, is set to pump in $45 million for expansion of Karaikal Port, located in the East Coast of India in the state of Tamil Nadu. The fresh infusion of funds will be as part of a Rs 700 crore expansion which Karaikal Port is embarking on to expand the capacity by as much as 6 times to 28 million metric tonnes from the current 5.2 MMT. The expansion is expected to happen over a period 12-18 months. Karaikal Port is controlled by Marg Ltd and this is the second round of private equity fund raising which the port is executing. The company had raised Rs 150 crore during early 2010 from IDFC Project Equity. The port majorly handles import of coal and also handles good quantity of cement and sugar exports. Raja Kumar, founder & CEO, Ascent Capital, confirmed that the deal is happening but declined to spell out more details. This is the third major deal which Ascent Capital is executing after investing in GMR Energy and IVRCL from the fresh $350 million fund it raised during early 2010. […]
Diminishing share prices of listed companies have hit the portfolios of the largest private equity majors such as Blackstone, Carlyle and Warburg Pincus. Following the recent market crash, the investments they had made in the past have declined drastically, by 70-80 per cent. However, experts believe transactions in the listed space are likely to go up as the typical fundraising sources dry up, leaving enough room for more PIPE (private investments in public equities) transactions. Blackstone, one of the largest global PE players, bore the brunt of a decline in stocks listed on Indian bourses. Its investments in Gokaldas Exports shrank 70 per cent. It had invested $158 million in 2007 to acquire 67.88 per cent stake in Gokaldas. Shares of Gokaldas, bought by Blackstone for Rs 275 apiece, touched their 52-week low of Rs 70 on the Bombay Stock Exchange (BSE) on Friday. Mayank Rastogi, partner (private equity), E&Y, said: “The LPs (limited partners) are mature enough to discount the spikes and troughs. If the delta between the market price and the potential deal price is large, fund managers will need to have a solid rationale for their investment committees/LPs to give higher value.” […]
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