Catamaran To Invest Rs 200Cr In Manipal Univsersal – Infosys Technologies chairman N R Narayana Murthy’s Catamaran Venture Fund is set to invest Rs 200 crore, or $44 million, for a small stake in Manipal Universal Learning. Manipal Universal Learning is gearing up for a mega IPO with a valuation anywhere between $1.25-$1.75 billion, and Catamaran was vying with several other funds to clinch this deal. PremjiInvest, a proprietery fund of another tech billionaire and Wipro chairman Azim Premji, had invested Rs 200 crore in Manipal Universal Learning exactly a year ago. (Times of India)
RPG Group’s Evonik Bid May Fall Through – RPG Group’s bid to acquire Germany-based Evonik Industries’ $1.2-billion carbon black business is falling apart after the Kolkata-based conglomerate’s talks to forge a joint bid with private equity (PE) partners failed. ICICI Bank’s $900 million line of credit is dependent on Phillips Carbon Black, a part of the $3.7 billion RPG Group, roping in a financial investor for the proposed acquisition. (Times of India)
UTI AMC To Hive Off PE Business – UTI Asset Management Co. Ltd (UTI AMC) has drawn up plans to hive off its PE business into a separate fully-owned subsidiary. UTI AMC has also identified A. Murugappan, executive director of ICICI Securities Ltd, to lead the new entity. In 2009, UTI AMC had partnered with HSH Nordbank AG and Kuwait’s Noor Financial Investment Co. to launch a $500 million (Rs2,260 crore today) India Infrastructure Development Fund (IIDF). IIDF has already made its first investment in a city gas distribution project and currently has $120 million of assets under management. (Mint)
Cocoberry Raises $20M From CX Partners’ Ajay Relan – Premium-frozen yoghurt chain Cocoberry, which is in the process of raising funds from private equity players, has raised more than $20 million from Ajay Relan, the Citi Venture Capital International ex-head who started CX Partners. It is in talks with some other PE players to raise another $15-20 million. The brand is looking at getting its shares listed by 2013.
Jyothi To Acquire More Fabric Care Brands – Mumbai-based Jyothy Laboratories has set aside Rs 300 crore to acquire more regional fabric care brands. Targeting small regional companies in the pre-and-post wash segment, the Rs 800-crore FMCG company is busy scouting for brands which can go national in the long run. In the past, Jyothy Laboratories had acquired two fabric whitener brands – Morelight and Ruby (both brands were bought at less than Rs 20 crore) and has grown the sales of these brands. (Business Line)
Apollo Hospitals To Raise Rs 900Cr – Apollo Hospitals group will raise Rs 900 crore, including Rs 600 crore from QIPs (Qualified institutional placement) and Rs 300 crore through convertible debt instruments. Part of the proceeds will go to expand the hospital network to 15 tier-II and tier-III cities in the next two years.Apollo is going to add 3,000 beds in the next two financial years. At present, the group has 8,400 beds.(Business Line)
FIPB Clears Rs 4,500Cr Investment In Hero – The separation between the Munjal family-controlled Hero Group and Japanese automobile major Honda Motors is closer to becoming a reality as the Foreign Investment Promotion Board (FIPB) on Wednesday cleared the proposal of the Indian promoter to raise Rs 4,500-crore from overseas investors. The Munjals are raising the money in Hero Investment (HIPL), a non-banking financial company that owns 17.33% in the joint venture. The Indian partner is in discussion with six private equity firms including TPG, Warburg Pincus, Carlyle, Bain Capital and GIC of Singapore. (Economic Times)
SAIL In Talks For Mines In South Africa, Australia – State-owned Steel Authority of India (SAIL) is in advanced stages of talks with coking coal miners in Australia and South Africa for acquiring their assets. The value of the mines-two in South Africa and one in Australia-could likely be upward of $1.5 billion (about Rs 6,750 crore) and would be used to reduce SAIL’s import bill. SAIL buys about 10.5 million tonnes of coking coal every year from Australia and Africa and could spend more as it has plans to expand its capacity. (Economic Times)