|
|
The Great India Nautanki Company (GINC), which runs the mega entertainment project 'Kingdom of Dreams' in Gurgaon, is looking to offload 20% stake to raise up to Rs 200 crore to fund future expansion. Besides, the company is also considering an initial public offer by 2013 to raise more funds. It is currently holding talks with high networth individuals (HNIs) and private equity investors for the stake sale. GINC, a joint venture of Wizcraft International Entertainment and Apra Group of Companies, was set up to promote Indian culture and performing arts with a focus on Bollywood. “We are looking at equity dilution of 20% to create funds for which we are talking to a few people and expect to raise anywhere between Rs 150 crore to Rs 200 crore,” GINC, Chairman and Managing Director Anumod Sharma told PTI. […]
The world's largest luxury conglomerate, LVMH, through its private equity arm L Capital, is set to acquire a significant minority stake in Gitanjali Gems' proposed subsidiary that will control its branded jewellery and retail businesses, said two persons directly involved in the transaction. The deal worth $100-125 million is aimed at bringing the world's best know-how, expand aggressively in the domestic market and take Gitanjali Gems to global scale. With India and China accounting for 60 percent of the wealth of the region, the French multinational would be happy to get a larger footprint here. L Capital will pick up stake using money from its $500-million L Capital Asia Fund, which was raised in 2010. L Capital India's senior official, Anuradha Raja, declined comment on the transaction. NM Rothschild and Keynote Corporate Services are the advisors to Gitanjali Gems, and officials from both the investment banking firms refused comment. […]
Kolhapur-based Ratnakar Bank has raised Rs 720 crore by selling shares to institutional investors at Rs 67 per share. With this issue the bank's networth has crossed Rs 1,000 crore Speaking to TOI, Vishwavir Ahuja, MD & CEO, Ratnakar Bank, said that this was among the initial step towards putting the building blocks in place for expansion of the bank. Given that the asset base of the bank is a little over Rs 2,000 crore, the new capital infusion will provide the bank with capital to grow its business several fold. The equity investors in the bank include Beacon India Private Equity Fund, Cartica Capital, Faering Capital, Gaja Capital Partners, HDFC, Norwest Venture Partners, and Samara Capital […]
Mukta Arts Limited has completed its presence in all verticals of the Motion Picture Production pipeline by acquiring a substantial minority stake in Maya Digital Studios. When Mukta Arts went public in 2000, the only film production house at the time to go public, it laid out strategies for the next decade. Since 2000, Mukta Arts has built business models in Exhibition Programming, Distribution, Film Education and Film Exhibition. After taking this stake, the Mukta Arts group is now present in all verticals of the film industry starting from Film education (Whistling Woods International), Programming & Distribution (Mukta Movie Distributors), Exhibition (‘Mukta Cinemas’ chain of multiplexes open in April 2011) and now in the Animation & VFX industry in Maya Digital Studios. The new studio will be based out of the Mukta Arts Head Office Building ‘Mukta House’, in Filmcity Mumbai & will have 4 primary business lines – Original IP creation, outsourced Animation & VFX work for international projects, international co-productions & 2D to 3D conversion. […]
Mauritius-based venture capital fund, Enam India Infrastructure, will invest Rs 3,700 crore in India’s infrastructure and energy projects through a dedicated core sector fund. Promoted by Mumbai-based Enam Securities, the Mauritius outfit will bring in foreign direct investment worth Rs 3,450 crore through the fund. The cabinet committee on economic affairs cleared the investment proposal on Thursday. Enam India Infrastructure is a venture capital fund registered with Sebi in September last year and backed by promoters of Enam Securities. The private equity fund will essentially invest 80 per cent in infrastructure like roads, power, ports and airports. The rest 20 per cent will be invested in allied units connected with infrastructure sector. […]
India-based online travel services provider MakeMyTrip on Thursday said it will acquire 79% stake in Singapore-based travel agency Luxury Tours and Travel (LTT) for $3 million to expand its presence in markets outside India. The company, which also announced an over two-fold increase in its net profit for the quarter ended December, 2010 at $1.62 million from the same quarter of 2009, said it has the option of increasing the stake in LTT in future. “MakeMyTrip will also invest approximately $0.75 million in addition, in one or more tranches until June 2012, for the subscription of new equity shares to be issued by LTT,” it said. Further, the travel portal will acquire from the existing shareholders, their remaining shares in LTT, in three tranches over a three-year period ending June 2014, it said. […]
India’s education sector is likely to see heavy investments from private equity funds over the next couple of years betting on increased government spending and as private players plan expansions, officials said. The sector, pegged at $86 billion, is seeing fresh interest from foreigners and large funds who are pumping in money in services, technology and infrastructure, they added. “The education market in India is roughly worth $50 billion in the private sector and all parts of the educational value chain are offering good investment opportunities,” said Rajesh Singhal, managing partner of private equity firm Milestone Religare Investment Advisors Pvt Ltd. “Private equity investment in the next two-three years should be in the range of $400-$500 million and that should not be a difficult target at all,” he added. Currently, investments are to the tune of $200-$250 million, officials say. Milestone Religare recently invested 250 million rupees in an Indian education service firm from its Rs6 billion private equity fund that focusses on education and healthcare. […]
Real estate developers are depending heavily on private equity (PE) funds to bail them out to make payments for old land acquisitions and to kick off projects at the land-buying stage. With bank loans drying up and cash flows under stress due to dipping sales, PE money seems to be the only source of relief. Two Mumbai-based firms, DB Realty Ltd and Ackruti City Ltd, need to pay up a premium of Rs.802 crore and Rs.330 crore, respectively, in February for the redevelopment of the high-profile Bandra Government Colony project in the city that was allotted to them by the state government last year. The land premium that was to be paid in September 2010 was pushed to February this year according to a 28 January report by Anand Rathi Financial Services Ltd. Both the developers have said that they will need to raise money to make the payments. […]
Coal India Ltd , the world's largest coal producer, may buy up to a 15% stake in US-based Peabody Energy Corp's Australian assets early next fiscal for an estimated USD 100 million (about Rs 450 crore). “It (deal) should not take too long a time. It should be two to three months. We are in the final stages of talks with Peabody Energy for a 15% stake for USD 100 million,” an official privy to the development, who did not wish to be named, told PTI. More or less an agreement has been reached on the valuation, the official said, adding, “We will invest in equity and in return, we will get the right for coal offtake.” CIL Chairman P S Bhattacharyya, however, refused to comment on the issue. The proposal to buy a stake in Peabody's asset will be deliberated at a meeting of a sub-committee of the company board on the state-owned firm's foreign acquisition plans, which is likely to take place this month. […]
The departing chairman of the Securities and Exchange Board of India (Sebi), C.B. Bhave, proposed changes in key areas related to the capital market, 10 days before the end of his three-year term. In a bid to bring in more transparency in deals between group companies, Sebi will propose that the ministry of corporate affairs tighten norms for all interested parties, including promoters, in such deals. The market regulator said it will recommend to the ministry the amendment of a clause of the Companies Bill, 2009, to prevent interested shareholders from voting on the special resolution of the prescribed related party transaction. The definition of interested party will cover the promoters of companies, Bhave said, while addressing the last board meeting of his tenure that ends on 17 February. The board discussed some of the issues that had arisen out of the earnings fraud at Satyam Computer Services Ltd. Investors won’t be allowed to vote on resolutions that involve a conflict of interest. “The issue arose when Maytas was proposed to be amalgamated with Satyam. Though the transaction did not materialize eventually, the matter originated from there,” said Bhave. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|