Exclusive: Promethean India Fund, the Indian investment arm of the UK-based private equity fund Promethean Investments, is upping its activity in India. The $115 million India fund has so far invested in two Indian companies - Mahindra Forgings and Nitco Tiles - and is in the process of closing two other investments. Burman said they [...]
Key Safety Systems Acquires 50% In Abhishek Auto: The $1-billion US based automotive safety component maker, Key Safety Systems (KSS), has acquired a 50 per cent equity in Delhi-based Abhishek Auto Industries. The Detroit-headquartered KSS — a global leader in design and production of safety components like airbags, seat-belts, inflators, steering wheels and electronic [...]
PTC Financial Services (PFS), the investment arm of power trading and advisory services company PTC India, is getting Rs 120 crore ($30.4 million) investment from the private equity arm of Goldman Sachs and Australia’s Macquarie Bank, according to The Economic Times. They will pick up 20 per cent stake each in PFS, a company which [...]
Optical networking company Tejas Networks has appointed Rangnath Salgame, an ex- Cisco official, as its new president. Prior to joining Tejas, Salgame was with Cisco Systems as president - global projects. Founded in 2000, the Rs 235 crore company has so far raised more than $70 million from funds like Intel Capital, Sandstone Capital, Battery [...]
Genpact has reportedly acquired a 80-90 per cent stake in Citigroup’s captive BPO - Citigroup Global Services - for a valuation $630 million, according to The Economic Times. The Delhi-based BPO firm has beaten FirstSource Solutions in the deal, which seems to have been closely contested with multiple rounds of negotiations over valuations and other [...]
Leading New York-based investment bank Jefferies has entered India through a representative office in New Delhi. Edward Males is the head of Jefferies’ India office, which will staff nine people. The bank has been already working with Indian clients for around 30 months, and it has completed some 20 transactions raising $1.4 billion from global [...]
Printo Document Services Pvt Ltd, a Bangalore-based print and document services retail chain, has announced that it has received Rs 25 crore ($6.25 million) investment from Sequoia Capital India.
The company provides internet based printing services of marketing collateral, business cards, brochures, posters, invitations, dairies, timetables, calendars, personalised greeting cards, and so on.
Printo says the Indian [...]
India’s department of science and technology may join hands with The Indus Entrepreneurs (TiE) and the Indian School of Business (ISB) to launch a seed fund. The initial corpus for the fund is likely to be Rs 75 crore or $19 million, reports Business Standard. The report quotes AS Rao, adviser, Department of Scientific & [...]
Ambit Corporate Finance, a Mumbai-based fast growing investment bank, is looking for a global partner. But the firm is willing to shed only a minority stake in favour of the global biggie. In an interview to Business Standard, Ashok Wadhwa, CEO of Ambit, said that they need a global partner to build a thriving institutional [...]
Gujarat’s Adani Group has group struck two deals with private equity funds to raise a total of $347 million for its power and the SEZ projects. UK private equity firm 3i Group-sponsored India Infrastructure Fund has invested $227 million for a minority stake in Adani Power. The company is developing a 2,640 MW coal-based thermal [...]
Delhi-based out of home digital media company LiveMedia has received an undisclosed amount of funding from US venture capital fund Draper Fisher Jurvetson. LiveMedia was founded a year ago by Rajan Mehta, former Vice President of Nortel Networks in India.
Four VC-Funded Companies In This Space
With the LiveMedia funding, there are four venture capital funded companies [...]
The BPO arm of hospital chain Apollo Enterprises, Apollo Health Street (AHS), is planning an IPO. The company wants to repay the debt it has taken for its recent $170-million acquisition of US-based BPO Zavata, besides it wants cash for expansion purposes. According to The Economic Times, a listing is expected in the next 6 [...]
Mumbai-based pharma company Wockhardt Ltd is making inroads into the US market. The company, which has focused on Europe till now, has announced the acquisition of Morton Grove Pharmaceuticals, a liquid generic and specialty dermatology company in the US, reportedly for $38 million. Grove is a leading liquid generic and speciality dermatology company in the [...]
Microsoft has finally beaten Google in one thing. The Seattle tech giant has outrivalled the Mountain View, California-headquartered search king in picking up a minority stake in the fast growing social network Facebook. Microsoft would pay $240 million for a 1.6 per cent stake in the social networking website, which values the company at $15 [...]
US venture capital fund Draper Fisher Jurvetson has closed a new fund - DFJ Growth Fund - at about $290 million. The fund’s initial target was $250 million. DFJ recently entered India with an on the ground presence in Bangalore (where it stationed Managing Director Mohanjit Jolly) and Hyderabad (venture partner Sateesh Andra). DFJ’s Jolly [...]
