Private Equity And Other Stories
Kotak to double pvt equity fund corpus (DNA)
Kotak Mahindra Bank plans to double the size of its private equity funds - the India Growth Fund (IGF) and the Kotak Realty Fund - to $700 million by the end of the year from $325 million at present. About half of the money will be invested in the real estate sector.
Clearwater Capital Keen On Indian Real Estate, Auto Parts (Bloomberg)
The fund said the Asian auto-parts and Indian agricultural industries are consolidating, offering good investment opportunities. As incomes rise, more Asians are visiting resorts and using the Internet.
PE Funds to exit Baskin Robbins India (The Times of India)
Ghai Enterprises which holds 60% stake in Maharashtra Dairy Products Manufacturing Co — the maker of Baskin-Robbins in India — is buying out three private equity funds which hold rest of the equity. Raman Mehra, head-hospitality business, Ghai Enterprises, said the deal is expected to be completed soon.
Yes Bank to raise $100 mn tier-I capital by March (Business Standard)
Yes Bank is likely to raise tier-I capital worth around $100 million by March to fund its growth plans, according to Managing Director and Chief Executive Officer Rana Kapoor. “We will get into the primary market earliest by November and not later than February/ March,” Kapoor said.
Aurobindo To Hive Off Research Division; Plans PE Funding (Business Standard)
Aurobindo is planning to hive off its research and development division into a separate company,
Aurobindo, which has a strong focus on product filings, willl rope in a leading private equity (PE) player in the new venture with fresh investments to the tune of Rs 1 billion.
