CVCI, SCPE In Talks To Invest Rs 500Cr In Dewan Housing – Citigroup Venture Capital International and Standard Chartered Private Equity are vying to acquire a chunk of Dewan Housing Finance Corp, the second-largest private sector home loan player in the country. The Wadhawan family controlled DHFL is looking to dilute less than 15% stake for roughly Rs 500 crore. Citi, StanChart and another international private equity fund are in talks for a possible transaction in DHFL, which would take a few weeks to close. The company plans to allot fresh equity shares to private equity funds at around Rs 300 apiece and as a result would dilute 12-13% of equity. (Economic Times)
Walt Disney Buys Remaining Indiagamges Stake – In what could be the biggest deal so far in India’s online gaming sector, The Walt Disney Company has acquired all the equity in UTV’s Indiagames for an estimated $80-100 million (Rs 390-490 crore). Earlier this year, Walt Disney had announced the acquisition of UTV Software Communications for Rs 2,000 crore. However, UTV had only 58 per cent stake in Indiagames. Another 42 per cent was held by its founder and promoter, Vishal Gondal, and investors such as Cisco Systems, Adobe and others. (Business Standard)
Craftsvilla Raises Funding From Nexus, Lightspeed – Kribha Handicrafts Pvt. Ltd, which runs online handicraft and natural products e-commerce portal craftsvilla.com, has received an undisclosed amount as early-stage funding from Nexus Venture Partners and Lightspeed Venture Partners?. First rounds of funding are typically in the range of $2-3 million, with an equity dilution of 15%-30%. Kribha, which needs Rs 100 crore in next 2-3 years, has already initiated dialogue with investors for a second round of funding. Kribha was founded in December and its website launched in April. (Mint)
Azure To Launch Rs 200Cr Realty Fund – Realty fund manager Azure Capital Advisors will start raising around Rs 200 crore to invest in residential projects in the southern and western parts of the country from next week. This will be the second round of fund-raising for the Bangalore-headquartered entity’s maiden fund, ‘India Realty Fund I’. The fund manager also has plans to launch a $150 million to $200 million (Rs 980 crore) offshore fund early next year to invest in residential and warehousing projects in the country. (Business Standard)
HDFC Eyes $600M Realty Fund – Housing Development Finance Corp. (HDFC), India’s largest mortgage lender, plans to raise $600 million for its fourth property fund from overseas investors for residential and commercial projects in India’s largest cities, starting with an investor roadshow in Singapore from November. Housing Development will mainly tap investors from the Asia-Pacific region and the U.S. for the private equity fund. The Mumbai-based company aims to invest about 40 percent of the fund in residential projects on the outskirts of India’s largest cities, and as much as 30 percent in commercial developments. (Bloomberg)
KKR To Invest $30M In Way2Wealth – Private equity giant KKR & Co is extending $30 million commitment to expand serial entrepreneur and Coffee Day founder VG Siddhartha’s boutique financial services firm Way2Wealth. This would help the Coffee Day Group firm to capitalize its non-banking finance company ( NBFC) and strengthen equity financing business for its clients. Way2Wealth has acquired Mumbai-based broking firm Techno Shares & Stocks to bulk up the equities trading business. This tuck-in acquisition is estimated at little over $10 million. (Times of India)
Bank of India Rethinking Bharti AXA Stake Buy – Bank of India (BoI) is “revisiting” its plan to buy 51% stake in Bharti AXA Investment Managers. Considering the current market conditions, Bank of India will revisit this plan and the board will take a final call on the deal. Bank of India, which had exited the mutual fund business in 2004, has confirmed that it is committed to re-entering the asset management business now. (DNA)
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