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Gayatri Energy Ventures owned by Gayatri Projects, raises INR 250 crore from IFCI (Industrial Finance Corporation of India) through issue of compulsory convertible debentures. The quantum of the stake that IFCI would pick post conversion is not yet disclosed, reports dealcurry.com. GEVPL announced that the fund will be used for bank rolling proposed investments in the energy domain. Since its inception in 1975, Gayatri Projects continues to put their part of efforts for the development of modern India. Starting as infrastructure to housing development now they are a company with an annual turnover of more than INR 1004 crore. […]
Tata Technologies, an engineering solutions and IT product developer, on Tuesday said it has raised about Rs 141 crore by selling 13.04 per cent equity stake to Alpha TC Holdings and Tata Capital Growth Fund (TCGF)I. “With this investment (USD 30 million), we will continue to aggressively grow our business and provide our customers with better, more innovative products,” said Patrick McGoldrick, Tata Technologies Managing Director and CEO in a statement. […]
Venture capital (VC) firm IDG Ventures India has invested $5 mn (Rs 22.15 crore) in Mumbai-based banking software product company Agile Financial Technologies. The company offers 12 products in areas of banking, insurance, micro-finance and financial inclusion. It also offers IT services support functions for its software products. Speaking to TOI, T C Meenakshisundaram , MD of IDG, said that the company would use the funds for expansions, building new products and acquisitions . He expects the company to become a $10 million revenue company this year and touch $75 mn in 3-4 years. The company has a large focus on the Middle East and Africa (MEA) markets. They will now look to expand their markets in India, South East Asia, and Central and Eastern Europe. […]
Mukesh Ambani of Reliance Industries Limited (RIL), in association with America based D E Shaw group, one of world’s largest financial institutions, is set to launch what is being termed as India’s largest private sector bank so far; also being dubbed as the ‘The Bank of Ambani.’ Following its tie up world’s leading hedge fund, RIL was armed to make its move into India’s booming financial services sector. The idea was to channelise D E Shaw’s technical and investment expertise in the field of financial services by means of RIL’s extensive market network and operational excellence, marking a strong foray by Reliance Industries into the sector. […]
Private equity fund Sabre Partners today said it will pick up stake worth Rs 50 crore in Super Religare Laboratories (SRL) as a pre-IPO placement. SRL has filed a draft red herring prospectus with market regulator Sebi in February this year for a public issue of up to 2.8 crore equity shares of face value Rs 10 each. It is yet to get a clearance from Sebi. “With this investment, Sabre Partners, through it's domestic and international 'Spring Healthcare' fund will invest an aggregate amount of Rs 50 crore into SRL,” Sabre Partners said in a statement. The company, however did not disclose the stake it would acquire in the diagnostics firm. […]
The special situation fund will invest in Indian distressed assets Apollo Global Management, the global leader in the alternative asset management business, will partner ICICI Venture, one of India’s largest private equity firms, to launch a special situation fund. An agreement for the $750-million fund will be signed soon, persons close to the development said. In India, there is a huge opportunity for investments in distressed assets due to the mounting number of such large loans in the Indian banking sector. A number of financial institutions have already established their presence with their distressed asset funds in the past. The new venture, exploring opportunities in the areas of special situations and distressed assets in India, will be headed by Kalpesh Kikani, senior general manager of ICICI Bank. […]
Global media and entertainment- focused private equity fund, Providence Equity Partners (PEP) has invested Rs 260 crore to become the largest shareholder in digital cinema company UFO Moviez. UFO is the world’s largest satellite-based digital cinema service with close to 2,500 installations across India and will be using the infusion to fund roll-out of 3D systems in more than 1,000 screens in the country, a release issued said. “Providence Equity Partners will take a significant minority equity stake in UFO and will be the largest shareholder in the company,” the release said, adding that promoters Valuable Group and Apollo Tyres’ division Apollo International and PE firm 3i group will continue to remain “significant shareholders”. […]
Private equity (PE) funds are quick to seize attractive investment opportunities, and few deals in recent years have captured their imagination-and capital-more than infrastructure projects in India. Over the past five years, PE funds have invested approximately $13 billion-around one-fourth of their total capital flows to the country-into infrastructure. Annual PE investment in the sector has grown fourfold, from about $1 billion in 2006 to $4 billion in 2010. Infrastructure activity looks set to accelerate. Optimism about investment in the sector was a major highlight in a survey of PE industry insiders, which Bain conducted with the Indian Private Equity and Venture Capital Association. Nearly all respondents forecast continued double-digit growth over the next six to 12 months, with around half saying they expected venture capital and PE deal-making in the sector to grow by 25-50%. […]
Private equity firm Matrix Partners India today said it has raised $ 300 million (Rs 1,328 crore) through its second fund. “It has closed a USD 300 million second fund,” Matrix Partners India said in a statement. The fund will continue to target early and growth stage investments of up to USD 30 million each in companies in the business of internet, mobile, education, financial services, healthcare and infrastructure services firms. With the closing of this fund the firm has USD 600 million under management across two funds. The firm's first fund has investments in Muthoot Finance, which recently closed its initial share sale, and TreeHouse Education that has recently filed its papers for an initial public offering. […]
Shapoorji Pallonji Group has floated a $500 million private equity fund, mainly focused on real estate, marking its return to the financial services industry. One of the country's richest and low-profile business conglomerates will be joining the growing list of Indian corporates such as Tata, Aditya Birla and Anil Dhirubhai Ambani Group (ADAG) in the private equity play with its Mauritius registered fund, STREF. Shapoorji Pallonji Investment Managers Ltd will be managing this fund, which will shortly announce the first close of $250 million and start investing thereafter, said a senior official at SP Centre, the group's South Mumbai headquarters. The fund manager has narrowed down on a few initial investments, which could include buying minority interest in a pharmaceutical and healthcare special economic zone down South […]
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