Private equity fund SAIF Partners, which owns 12 per cent stake in IL&FS Investsmart, will exit the company through the open offer. HSBC Plc, the British banking giant, had earlier in the day announced that it would acquire 73.21 per cent stake in Mumbai retail broking firm IL&FS Investsmart for $241.6 million (at a price [...]
In one of the largest M&A deals in Indian broking space, HSBC has announced that it would acquire a 73.21 per cent stake of IL&FS Investsmart in an all-cash deal for $261 million (Rs 1,070 crore). IL&FS Investsmart is co-promoted by IL&FS and US online brokerage firm E*Trade, who have exited in the deal.
HSBC is [...]
As the global economy is still reeling under the subprime crisis, infrastructure investing is becoming fashionable globally. Soon after Morgan Stanley and Global Infrastructure Partners (a PE firm backed by Credit Suisse and General Electric) announced almost $10 billion worth funds for infrastructure, here is one of the largest PE firms in the world, Kohlberg [...]
MPM Capital, the largest venture capital investor dedicated solely to healthcare, has made a $20 million investment in Hyderabad-based Sai Advantium Pharma, a chemistry-driven drug discovery and development service company. This is the first investment by MPM Capital in India.
As part of the deal, MPM Managing Director William Greene is joining Sai Advantium’s Board of [...]
Axis Private Equity, the private equity arm of Axis Bank, has made its maiden deal. It has invested $30 million (Rs 126 crore) in Delhi-based railway line manufacturer Harish Chandra India Ltd (HCIL), through its recently-launched Axis Infrastructure Fund-I. Business Standard reported that Axis PE has picked up over 25 per cent stake in the [...]
Citigroup has raised $500 million for investing in Indian infrastructure sector, Bloomberg reported. This is part of the $5 billion Indian infrastructure fund Citigroup is raising along with Blackstone Group LP. The fund would invest in roads, ports and utilities in India.
Indian infrastructure sector needs $450 billion in investments by 2012. There has been a [...]
The IPO-bound telecom tower company Reliance Infratel is selling a 5 per cent stake to certain unnamed US and European investors at a valuation of Rs 50,000 crore, which is interestingly the double of the valuation of the previous pre-IPO deal of Rs 28,000 crore in August last year. Press Trust of India today reported, [...]
Percept Holdings announced that it is planning to raise Rs 1,500 crore ($375 million) through a mix of private equity, IPO and debt for funding its expansion plans. The company, which is in the business of entertainment, media and communications, had recently raised Rs 150 crore through Edelweiss, Passport Capital and Indivision. This deal valued [...]
UK-based private equity firm 3i Group reported on Thursday a 37 per cent growth in assets under management for the fiscal year ending March. The company reported an increase in its investments from 7.1 billion pounds last year to 9.8 billion pounds ($19.1 billion) this year but said its return on investments fell to 18.6 [...]
The state-run power project lender, Power Finance Corp (PFC) Ltd, may seek funds from India Infrastructure Finance Co Ltd (IIFCL), reports Reuters. PFC has requested $2 billion to $3 billion of IIFCL’s $5 billion funding facility, PFC Chairman V K Garg has been quoted as saying by Reuters. PFC is also in talks with a [...]
Kotak Investment Advisors Ltd, the private equity investment vehicle of Kotak Mahindra Bank Ltd., is planning to raise $1.2 billion for two funds to make investments in the infrastructure and other sectors, reports Bloomberg. Kotak will raise $1 billion in a new fund to invest in infrastructure sector, while it will raise an additional $200 [...]
Bharti Airtel will have another source of capital for buying out (or merging with?) MTN. The Blackstone Group has announced the launch of Blackstone Altius Advisors, a new event-driven strategy focusing on opportunities in the Asia Pacific region. This investment entity will seek opportunities created by corporate events including mergers and bankruptcies.
The private equity group [...]
Baring Private Equity Asia, the leading Asian private equity group with $5 billion under management, has raised its fourth fund with a corpus of $1.52 billion. (Ed: Baring Asia is different from Baring India which is led by Rahul Bhasin.)
The Baring Asia Private Equity Fund IV is the largest regional growth equity fund ever raised [...]
Monday saw the launch of two big ticket infrastructure focused funds globally - one launched by US investment bank Morgan Stanley and the other one by Global Infrastructure Partners(GIP), a private equity fund promoted by Credit Suisse and General Electric. Both said on Monday that they have closed infrastructure funds of $4 billion and $5.64 [...]
Another global private equity biggie Bain Capital has set its ball rolling in India. The world’s leading private equity fund, which manages over $50 billion, has appointed former DSP Merrill Lynch banker Amit Chandra as its Country Head and Managing Director for India. The firm is set to open its office in Mumbai. Prior to [...]
