Axis Private Equity Eyes Three Exits – Axis Private Equity is engaged in talks with potential buyers eyeing exit from three of its investments this year. Axis PE is in talks to sell its stake in Vishwa Infrastructure and Corrtech International, and plans to dilute its stake in Neesa Leisure through a proposed IPO. Axis PE’s investments include Rs 75 crore in Neesa Leisure, Rs 67 crore in Corrtech International Pvt Ltd and Rs 60 crore in Vishwa Infrastructures and Services. (Business Standard)
Consim Info Shelves IPO Plans – Consim Info Pvt. Ltd, owner of the matchmaking website Bharatmatrimony.com, has shelved plans to raise capital by listing the company on the stock exchange, and is digging into profits for more than $2.5 million to fund domestic and international expansion. The Chennai-based online service provider, backed by investors like Canaan and Mayfield, has launched country-specific matchmaking websites in Pakistan and Sri Lanka in the last few months.
GVK Power To Buy Australia Mines For $2.2B – GVK Power & Infrastructure has reached a deal to buy two coal mines in Australia for $2.2 billion (about Rs 9,900 crore). GVK will buy Hancock Prospecting’s mines and the transport infrastructure. GVK will pay $1.3 billion for the Alpha Coal and Kevin’s Corner mines and $900 million to develop the logistics infrastructure. The transaction will be funded by ICICI Bank, Standard Chartered Bank and Axis Bank. (Economic Times)
RIL Appoints Rothschild’s Navin Wadhwani For M&A Unit – Reliance Industries is roping in Navin Wadhwani as head of its newly formed mergers and acquisitions (M&A) division. Wadhwani was earlier a director at NM Rothschild, one of the world’s leading independent investment banking organisations. RIL, a petrochemicals-to-retail conglomerate, is creating an M&A division for the first time and is looking to expand the scope of operations over the next few months. (Economic Times)
IvyCap Ventures Ropes In Former Home Secretary As Chairman – Former Home Secretary GK Pillai has become the chairman of a first-of-its-kind venture capital fund that will focus exclusively on financing ideas and ventures of graduates from IITs, IIMs and other premier institutes. Mumbai-based Ivy Cap Ventures Trust Fund has roped in Pillai, an IIT-Madras alumni, to head its board. The fund had got Sebi’s nod to raise money in June and aims to garner a Rs 400 crore corpus in its first phase by March 2013. (Economic Times)
JiGrahak To Raise $10M In New Round – JiGrahak Mobility Solutions, the Bangalore-based mobile commerce service provider, is close to raising around $10 million through the venture capital route to fund its expansion plans. The company, which runs the mobile commerce service under the brand ‘ngpay’ is understood to have attracted interest of various venture capital funds, including Nexus Partners and others. JiGrahak is backed by Helion Venture Partners. (Business Standard)
Jay Shree Restructures Investment Biz – Jay Shree Tea and Industries Ltd (JSTIL), a B K Birla group company, has spawned an investment company through a major restructuring. The new outfit — Parvati Investments Ltd (PIL) — would have investments, principally in group companies, worth Rs 47.86 crore and investment reserves of Rs 37.72 crore on its books. PIL would shortly apply for a license to RBI to operate as an NBFC. (Business Line)
Azure Capital Closes Three Investments – Azure Capital Advisors Pvt. Ltd, a Bangalore-based integrated private equity-cum-development real estate fund, has closed its first three project deals in the city. The fund will invest about Rs 50 crore in the three projects that will develop two- and three-bedroom apartments. Besides funding, Azure will also provide project development services through its subsidiary Azven Realty Ltd.