Fidelity Invests $13M In Transpole Logistics – Fidelity Growth Partners has invested close to $13 million in unlisted Transpole Logistics as an early stage growth investment. Transpole Logistics is involved in supply chain management, which outsources end-to-end logistics solution for its clients. The five year-old company has a turnover of Rs 350 crore and had a cumulative growth of 73%. The funds would be used for scaling up the existing business. Transpole would also be looking into a second round of private equity funding in a few months’ time. (Economic Times)
Career Launcher Plans Stake Sale – Career Launcher India Ltd, which prepares students for competitive examinations, is considering selling stake to an overseas company or sell shares to the public for the first time to raise funds to expand into new business segments. The company is in initial discussions with global education companies and has hired a foreign investment bank for advising it on the stake sale. Career Launcher had sales of Rs 150 crore in the year ended 31 March. Gaja Capital Partners, Edelweiss Capital Ltd and Granite Hill Capital Partners own 12% in Career Launcher while the owners hold about 83%, Mahajan said. Earlier this year, Gaja, Edelweiss Capital and Granite Hill Capital Partners invested an additional Rs.25 crore in the company.
IDBI Mulls CARE IPO – IDBI is looking at a Rs 500-750 crore initial public offering of rating agency Care to unlock value. IDBI, which holds close to 26%, is the main promoter of Care along with Canara Bank.IDBI feels that Care should be valued at around Rs 2,500 crore, which is close to half the valuation of rival agency Crisil, which has a market capitalization of around Rs 4,673 crore. Other shareholders include Canara Bank (22.8%), SBI (9.61%), Federal Bank (6.25) and IL&FS. (Times of India)
Goldman Sachs May Take 15% Bengaluru-Mysore Corridor – BF Utilities, an infrastructure firm that is part of the $2.4-billion Bharat Forge Group, is close to selling 14.9% stake in the second phase of an ongoing expressway project to Goldman Sachs Capital Partners, the private equity arm of Goldman Sachs. The deal, valued at about Rs 1,000 crore, would be for the 164-km expressway connecting Bengaluru to Mysore. The expressway is being built by Nandi Infrastructure Corridor Enterprise. In December 2010, a fund owned by JPMorgan, bought an 8% stake in the first phase of the project for Rs 500 crore. (Economic Times)
Johnson & Johnson In Talks To Buy Doktor Mom – Global pharmaceutical company Johnson & Johnson (J&J) is in talks with JB Chemicals & Pharmaceuticals to buy its leading over-the-counter (OTC) brand, Doktor Mom, a range of cough and cold products. Doktor Mom has annual sales of about Rs 200 crore in Russia and the Confederation of Independent States (CIS) countries (part of the erstwhile USSR). The deal could be in the range of $200-250 million (Rs 900-1,100 crore). The Mumbai-based company’s revenue was Rs 741 crore in 2009-10. (Business Standard)
Ascendas India To Raise $350M – Ascendas India Development Trust (AIDT), the India-focused real estate fund floated by Singapore-based office space developer, is looking to raise close to $350 million. This will be the second fund that AIDT will be raising after investing its first fund of around $400 million. The trust will be shortly initialising steps to raise the funds from global investors. The new fund will be used to part-fund its expansive projects coming up at Gurgaon, Chennai, Coimbatore and Pune spread over 200 acres across the cities.(Business Standard)