Blackstone In Talks To Acquire Securitrans – Private equity firm Blackstone is in talks with security services provider APS group to acquire Securitrans India Pvt Ltd , the latter’s cash management arm. The deal is being valued at Rs 150 crore. Delhi-based Securitrans provides security cover for large commercial banks during transportation of cash and other valuables. Its customers include banks such as CITI, Standard Chartered Bank, Amercian Express , Deutsche, HDFC Bank , Canara Bank and ICICI. (Economic Times)
DE Shaw Puts Excelsoft Stake On The Block – D E Shaw Group is understood to have put half of its 35% stake in Mysore-based e-learning firm Excelsoft on the block, a move in which Shaw is expected to reap back its investment. The global PE fund had picked up the stake in Excelsoft for Rs 135 crore in April 2008, paving way for UTI Ventures’ (now Ascent Capital) blockbuster exit by giving it 50 times return on its investment. The deal is expected to value Excelsoft at close to Rs 600 crore, almost double of the 2008 levels of Rs 350 crore. Excelsoft offers products and services in the e-learning domain, that serve the interests of educational publishers, universities and schools as well as the government, defence and corporate sector, including test and assessment services. (Business Standard)
Continental In Talks To Buy 51% In Modi Rubber – German tyre maker Continental AG is in advanced talks with Modi Rubber Ltd to buy at least a 51% stake in the Indian company. The V.K. Modi-owned company in 2003 was referred to India’s Board for Industrial and Financial Reconstruction after its accumulated losses exceeded its net worth. The company reported a net profit of Rs. 4.64 crore in the three months ended 31 December compared with Rs. 11.5 lakh in the year-ago period. (Mint)
Lemon Tree Targets Rs 600Cr Revenues, Mulls IPO – Lemon Tree Hotels, a Delhi-based firm which operates four-star Lemon Tree and economy-class Red Fox hotels, said its current turnover was Rs 300 crore (including Rs 28 crore from three Red Fox hotels), and plans to go public once it clocks a revenue of Rs 600 crore. This is expected to happen in the first quarter of 2013Warburg Pincus, a global private equity group, holds 25% equity in the company. (Business Standard)
JDS Apparels Eyes Rs 50Cr PE Funding – JDS Apparels Pvt. Ltd, which owns a chain of department stores known until recently as Ritu Wears, is planning to raise Rs.50 crore by selling shares to private equity (PE) funds to add as many as five stores this year. The company currently runs 12 department stores that are now called Biglife after a rebranding exercise in October last year, although the old name is still in use. It wants to open new large format stores in cities such as Agra, Panipat, Meerut, Moradabad, Bareilly, Dehradun and Jaipur in the next one year.
ZipDial Raises Rs 3.5Cr From Angels – Bangalore-based mobile solutions company, ZipDial, received first-round funding of over Rs 3.5 crore from a consortium led by Mumbai Angels with participation from US-based angel investors. ZipDial, founded by Valerie Rozycki and Amiya Pathak, has developed a mobile-engagement platform, which is based on concept of a missed call. During the World Cup, the company tied up with LG Mobile to provide cricket scores. (Economic Times)
Parsvnath Revokes Shares, To Raise PE Funding – The promoters of Parsvnath Developers have revoked over 5 crore shares, equal to about 12% of their stake in the realty firm, pledged with the financial institutions. In February, the company had said that it will invest Rs. 4,700 crore over the next three years to complete its existing projects. The company is in talks with three-four private equity players to raise up to Rs. 200 crore for its two group-housing projects in north India. (NDTV)