Karodpati Inc., a Cayman Islands-based developer of online entertainment for the Indian market, has raised just over $2 million in Series A funding from backers like Draper fisher Jurvetson and DFJ ePlanet Ventures, reports Daniel Primack through his daily news letter Private Equity Wire. Karodpati claims to be a new service that will combine entertainment [...]
To be frank, I hadn’t heard of Spentex Industries before Citigroup Venture Capital International acquired a 30 per cent stake in the cotton yarn company sometime last year. Ever since CVCI investment, one thing I have noticed is that the company has been on an acquisition spree. The latest is that it is acquiring 44.14 [...]
[Financial Times: Via MSNBC] Texas Pacific Group is toning up its presence in Asia, one of the highly sought after markets by PE frims. TPG, a leading global private equity group, is not going to rely just on its Asian affiliate Newbridge Capital, it would also be directly investing in Asia. This is different from [...]
David Primack in his highly readable Private Equity Week says celebrated PE firms like Thomas H. Lee Partners and Apollo Management have no websites. One VC firm which is active in India lately but does not have a website (as far as I know) is New Vernon Bharat. It’s founded by former Merrill Lynch honcho [...]
When Indian hotel industry is supply-constrained, any amount of private equity fund flowing to the industry will not be enough. Hotel management company Sarovar Hotels had raised $8.5 million in December last year from Bessemer Venture Partners and New Vernon Bharat. The hotel group, which plans to open 50 Hometel budget business hotels across India [...]
Keya Sarkar, a columnist with Business Standard, is a regular writer on microfinance issues. Here is a column from her on the microcredit phenomenon, and how it’s gaining strength these days.
She recently attended an event organised by Aavishkaar, a microfinance fund which started operating as a Sebi-registered venture fund in 2002. It was an award [...]
[Via The Economic Times:] P D Narang, a director in the Delhi-based Dabur Group, has joined the board of Punjab Tractors Ltd. Now the Burmans of Dabur are expected to play an active role in the management of Punjab Tractors. What is important here is that private equity investor Actis which has a significant stake [...]
Rediff.com has a fantastic story on my favourite infrastructure project in the country. It’s on Cochin International Airport Limited (CIAL), a unique aviation infrastructure success story in the private-public sector. The company, which is going public this year, is now chased by high profile investors.
The sellers are mainly NRIs and the investors in the race [...]
There is an update on this on Saturday’s Business Standard. HSBC has actually sold 7.19 per cent stake in UTI Bank for Rs 638 crore ($145 million), bringing down its holding in the private bank to 4.99 per cent. This is done to adhere to the Reserve Bank of India�s (RBI) ownership norms which restrict [...]
It’s a great time to be a startup in wireless space globally, according to a recent study. India, of course, is a wireless market with some 80.6 million cellphone users, and so India too is going to benefit from it.
“Wireless is where the action is and this is a great time to be a wireless [...]
Another interesting story from Reuters on equity broking houses. It quotes one of the players saying that 30 more broking firms are expected to launch IPOs or get private equity investors. For instance, JRG Securities Ltd. is a small broking house, set up in 1992 by three friends. It initially traded shares worth just Rs [...]
In a statement today, Mauj Telecom announced that it has received an investment of $10 million from three VCs – WestBridge Capital Partners, Intel Capital and Sequoia Capital.
WestBridge Capital Partners led the investment round, and Sandeep Singhal, Managing Director, WestBridge, will join the board of Mauj Telecom. Intel Capital, Intel Corporation’s venture investment program, focuses [...]
Don’t rack your brain. He is a 53-year old serial investor based in Bangalore and one who is thinking big. He has just acquired a manufacturing plant owned by MNC pharma giant Pfizer in Sweden for an undisclosed sum. Bagaria runs Kemwell Pvt Ltd, a $11 million contract manufacturing company. By the way, Bagaria is [...]
In another $10 million deal, Delhi-based private equity fund ChrysCapital has acquired around 5 per cent stake in Bajaj Auto Finance via private placement, reports The Economic Times. ChrysCapital is believed to have bought shares at Rs 450 apiece, totalling Rs 45 crore. The share is now trading at Rs 570-levels giving almost 25 per [...]
An inverter company getting private equity? Yes. Considering India’ power crisis situation, which is unlikely to get resolved for a few decades to come, alternative power equipment makers will be rolling in money.
Reliance India Power Fund - a $200 million private equity fund sponsored jointly by Anil Dhirubhai Ambani Group and Singapore-based Temasek Holdings (Temasek) [...]
