Citigroup and DSP Merrill Lynch have bought over 7.2 per cent stake in Mumbai-broking firm India Infoline. Citigroup Global Mauritius has bought over 5 per cent for around Rs 50 crore ($11 million), DSP has purchased 2.2 per cent stake for nearly Rs 22 crore ($5 million). This values India Infoline at Rs 1,000 crore [...]
UK’s Dawnay Day International is setting up a $100 million fund in India to invest in the hospitality sector. Peter Klimt, chief executive, Dawnay Day International, is visiting India on June 1 to announce the company’s plans for India. The India specific fund will do acquisitions and buyouts in the hospitality industry.
Go to article in [...]
TutorVista.com, an Indian web-based tutorial and consumer services firm, has received $2 million in series A funding from Sequoia Capital. TutorVista is founded K Ganesh, a serial entrepreneur who exited BPO firm CustomerAsset, and had also founded business analytics startup Marketics. TutorVista.com’s model is to replace the private tutor for western children and their parents, [...]
India’s Bombay Stock Exchange Sensex has finally taken a breather this month. The market shed 1,644 points this month to 10,399. With this, the index ended the month with a decline of 13.7 per cent. Today, the market shed 388 points.
More details here.
Temasek Holdings has increased its stake in Chennai-based Dove Finance, an NBFC which it had acquired a few months back. Temasek’s subsidiary Asia Financial Holdings (AFH) had acquired 80 per cent stake in Dove Finance, which finances two-wheeler and used-car loans. Now the stake stands at 98 per cent. The total amount of investment is [...]
There is one more SME fund from BTS Investment Advisors, a joint venture between the Switzerland-based BTS group and State Secretariat for Economic Affairs of the Swiss Federal Government. Its second fund will be of $80 million, which will invest in small and medium enterprises in India.
The investors in the fund include Asian Development Bank [...]
I missed this story. Indiabulls Financial Services Ltd, which started as a broking firm and now a diversified financial conglomerate, plans to raise $300 million from the international market through the issue of Foreign Currency Convertible Bonds (FCCBs) or other securities.
At the EGM held last Friday, the company approved the proposal for raising the amount [...]
International Finance Corporation (IFC) plans to pick up under 20% stake in Ocimum Biosolutions, a life sciences R&D company, for $5 million. The Hyderabad-based company is will use the cash for acqusitions. Click here for a backgrounder on Ocimum.
Go to article in The Economic Times.
Private equity fund Actis has picked up a 41 per cent stake in Hyderabad’s Sterling Hospitals for a consideration of Rs 72 crore ($16 million). Sterling, owned by Paras Pharmaceuticals, will use the funds to expand to other cities like Surat and Rajkot in Gujarat, Paras chairman Girish Patel said.
The company will make a preferential [...]
CIG Realty Investors (India), a fund promoted by Delhi-based Unitech, plans to raise $1.1 billion in the next six months. The fund will be raised both from the domestic as well as international markets, reports The Economic Times.
It has already raised Rs 260 crore from the domestic market, which is likely to go up to [...]
Here is an Economic Times story on the rush of real estate funds. According to the article, Carlyle-sponsored Santa Fey and UK’s Stargate Capital are entering the Indian market in the next three months. Santa Fey will have a corpus of $300 million and Stargate Capital is looking at investing $186 million, reports The Economic [...]
SIDBI Venture Capital has picked up an undisclosed stake for an investment of Rs 15.72 crore ($3.5 million) in Coimbatore-based auto components company Indo Shell Mould Ltd. The Rs 158-crore company manufactures ferrous and non-ferrous shell moulded casting components for two-wheeler automobile industry, hydraulic industry and home appliances.
The investment is from SIDBI Venture Capital’s SME [...]
Here are some details on the investors (Limited Partners) of a new early stage fund called Seed Fund. The fund, founded by Mahesh Murthy, Pravin Gandhi and Bharati Jacob, has backers like Kanwal Rekhi of Inventus Capital Partners, Ashok Narasimhan of July Systems, Naren Gupta, former CEO of WindRiver Systems, Sridhar Iyengar, President of TiE [...]
Computer maker Zenith Computers Ltd said it will meet on June 3 to consider raising up to Rs 1 billion through issue of convertible bonds. [Via The Economic Times]
Meanwhile, in another article in Business Standard, it says raising foreign curency convertile bonds will not be as attractive as before since the conversion premiums will not [...]
L&T Infotech, the software solutions and services arm of construction major Larsen & Toubro, plans to go public by 2008. L&T Infotech has revenues of $182 million for the fiscal 2005-06. “Our aim is to raise the topline to go past $250 million in the current fiscal and with this rate we are planning to [...]
