There was talk of this deal some four months back. Finally, it seems, it’s happening. Tractor manufacturer Sonalika Group is set to seal the deal for funding of Rs 300 crore ($66.6 million) from the UK-based private equity fund 3i.
The company sources are however yet to confirm it. 3i will pick up a 10 [...]
ChrysCapital has perfected the art of making money from PIPE deals. The Economic Times reports that the Delhi-based fund has exited Gammon India, a construction company, through secondary market. It has sold its entire stake in Gammon for Rs 430 crore or $95 million, and that is 4.75 times its original investment of $20 million [...]
Hindi media had arrived when TV networks like Aaj Tak became a phenomenon and when Star News stopped their English language service and launched a Hindi channel. Now every media group worth its name has a Hindi channel or product. There is serious money to be made
So small wonder Warburg Pincus has picked up 7 [...]
This is the biggest ever investment in an Indian microfinance institution. Top Silicon Valley venture capitalist Vinod Khosla, Small Industries Development Bank of India (Sidbi) and others have invested Rs 11 crore ($2.5 million) in SKS Microfinance.
Khosla has contributed Rs 2.1 crore (for 12.83 per cent stake). Khosla, one of the founders of Sun Microsystems [...]
The LN Mittal India Internet Ventures Ltd has acquired 8.2 per cent stake in Indiabulls Credit Services Ltd, a majority-owned subsidiary of Indiabulls Financial Services Ltd, for about Rs 90 crore ($20 million). LNM will pay about Rs 62 per share for investing Rs 45 crore in Indiabulls Financial as well as making secondary purchase [...]
Bessemer Venture Partners has picked up a 33.33 per cent stake in Chennai-based Shriram EPC Ltd for a consideration of Rs 100 crore ($22.2 million). Shriram EPC is into construction of steel plants, biomass and wind-based power projects, water treatment plants and cooling towers. It will end the current financial year with a turnover of [...]
Citigroup Venture Capital International (CVCI), the private equity arm of Citigroup, has increased its stake in mid-sized pharma firm Elder Pharmaceuticals from 9.5 per cent to 14 per cent. CVCI had acquired around 9.5 per cent stake in Elder Pharma in 2004. The private equity fund has been increasing its holding in the company for [...]
US pension fund California Public Employees’ Retirement System (CalPERS) is looking at investing in real estate in India and China. “Asia is going to be a major player in the long term,” CalPERS’ senior real estate investment officer Michael McCook told Reuters. “But we don’t go for speculative returns, we’re not swinging for home runs [...]
UK’s Caledonia Investments has upped its stake in Dewan Housing Finance (DHFL) from 2.14 per cent to 14 per cent. The investment has been done through the placement of optionally convertible preference shares worth Rs 53 crore ($11.7 million) on a preferential basis. These shares could be converted into equity shares of Rs 75 at [...]
SAIF Partners, a Hong Kong-based venture capital firm, has acquired a 6.66 per cent stake in Jindal Poly Films, a manufacturer of flexible packaging films, for Rs 56 crore ($12.4 million). The shares have been acquired in an off-market transaction. SAIF Partners picked up 1.87 million shares.
This is SAIF’s first investment in the manufacturing sector [...]
Private equity fund Actis is looking at India’s private sector power projects for investments. It will invest through its sister concern Globaleq, which is active in Africa, and Asia. Donald Peck, Managing Partner of Actis, says the firm is bullish about private power generation projects in India and “would be picking up stake in a [...]
It’s difficult to believe that Shripal and Shreyas Morakhia will ultimately sell off their thriving broking business - SSKI and Sharekhan - and focus on their film production and distribution business, iDream Production, instead. Sharekhan is one of the top five retail broking houses. A DNA story says that much: “Promoters Shripal and Shreyas Morakhia [...]
Private equity investments in India are believed to have crossed the $1 billion-mark in the first two-and-a-half months of 2006, reports The Economic Times. When you compare this number with $2.3 billion for the whole of 2005 and $1 billion for 2004, private equity deals in 2006 have zoomed.
The average deal size this quarter has [...]
It’s the season of cash outs from BPOs I think. Citigroup is planning to sell its 23 per cent stake in Progeon back to Infosys for reportedly $140 million, which is 7 times its original $20 million investment. Now Warburg Pincus also seems to be interested in selling its stake in BPO firm WNS [...]
[Pic source: Peter DaSilva for The New York Times; In the pic: Vinod Khosla; The flex-fuel Chevy Tahoe next to him can run on gasoline and ethanol.]
Ethanol is touted to be a wonder fuel that could replace a good part of petrol-run engines in the next 25 years. Vinod Khosla, one of the founders of [...]
