Accenture In Talks To Buy 60% In Subex – Bangalore-based operations and business support systems provider Subex is mulling sale of 60% stake to a strategic investor. Global management consulting and technology services firm Accenture is learnt to be the frontrunner for buying the stake in a deal that could be in the range of Rs 500-600 crore. If the deal materialises, it would be fifth such deal in the technology segment in India in 2011. (Financial Express)
Vasan Healthcare To Raise $150M – Eye care specialist Vasan Healthcare today said it plans to raise about $150 million (around Rs 660 crore) from private equity firms and sovereign funds to finance its expansion, which will see an addition of 45 new opthalmic and 10 dental hospitals this year. While the company is pumping in about Rs 400 crore on the new eye hospitals, it is investing Rs 150 crore on the new dental hospitals. The firm has 80 eye care hospitals and 15 dental hospitals across India. (Economic Times)
Warburg Pincus To Invest Rs 700Cr In JV With Lemon Tree – Hospitality firm Lemon Tree Hotels is foraying into real estate with plans to invest over Rs 1,400 crore to launch housing projects in India in partnership with US-based investment firm Warburg Pincus. The firm has formed a 51:49 joint venture — Oceanus Real Estate Pvt Ltd — with Warburg Pincus for the housing projects. Out of a total planned investment of Rs 1,400 crore by 2015, the JV will invest Rs 700 crore while Warburg Pincus alone will put another Rs 700 crore separately. (Economic Times)
Kotak PE’s Vamesh Chovatia To Join NEA – US-based venture capital fund New Enterprise Associates (NEA) is roping in Vamesh Chovatia, an industry veteran, as its new MD to strengthen its India operation. Chovatia is a senior director with Kotak Private Equity Group. NEA, which globally manages assets exceeding $11 billion, has allocated around $200 million for the Indian market. (Economic Times)
Cethar Vessels Plans Rs 2000Cr IPO – Tiruchi-based power plant equipment manufacturer Cethar Vessels Ltd plans to come out with its initial public offering within a year. The company, which ended 2010-11 with a turnover of Rs 2,437 crore, would use the Rs 2,000-odd crore it would raise from the public to invest in the proposed power generation plants of its newly-formed subsidiary, Cethar Energy Ltd. Cethar Vessels raised Rs 370 crore from Barings Capital in December, with option to raise Rs 100 crore more. Cethar Energy’s intention is to put up two power stations of 4,000 MW each in two of the States of Tamil Nadu, Andhra Pradesh and Orissa. (BusinessLine)
PLG Power Plans Rs 3,000Cr Listing – PLG Power, the energy and power division of the PLG Group, plans to raise about Rs 3,000 crore by listing in the London and Indian markets this year. The company currently has a focus on solar power. It will complete the process of listing on the Alternative Investment Market (AIM), the London Stock Exchange’s platform for smaller growing companies, by June or July. The proceeds will be used in the manufacturing of solar cells, modules and wafers. (Business Standard)
ASK Realty Fund Invests Rs 50Cr In Chennai Project – ASK Real Estate — Special Opportunities Portfolio 1 has invested Rs 50 crore in a company promoted by Chennai-based real estate developer Real Value group. Real Value group’s proposed residential project is of 675,000 sq ft over 4.32 acres, is at Kottivakaam, in Chennai. In the last 16 years, Real Value promoters has developed and delivered over 2.5 million sft of real estate projects. (Business Standard)
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