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News Roundup: Multiples to invest Rs 220Cr in Vikram Hospital

09 August, 2012

Multiples To Invest Rs 220Cr In Vikram Hospital – Multiples Private Equity, a $400-million fund started by Renuka Ramnath, is understood to be close to finalising a Rs 220-crore investment in Mysore-based super-speciality hospital chain Vikram Hospital Private Limited. I-Ven Medicare, an arm of ICICI Venture, had invested close to Rs 100 crore in Vikram Hospital in early 2008. It is learnt that there would be a primary investment of around Rs 50 crore to expand the hospital chain and Rs 160-180 crore in the secondary. (Business Standard)

Essar To Dilute Stake In BPO Biz, Take It Public –  Essar Group is looking to dilute stake in its Business Process Outsourcing arm Aegis Ltd, followed by an initial public offering. The Ruia family would look at redeploying the proceeds in Essar’s core projects such as shipping, mining and oil, among others. The plan will be to initially dilute a small percentage to an investor — which could be a private equity (PE) fund or a strategic (investor) — and then take the company public. (Business Line)

Birla Eyes BPO Buyouts, Seeks Fundraise – Indian billionaire Kumar Mangalam Birla is considering acquiring business process outsourcing companies to help double revenue at his unit that aids customers manage payroll, claims and computers. Aditya Birla Nuvo Ltd may also sell a stake in the unit Aditya Birla Minacs Worldwide Ltd, whose sales rose 23% to $377 million in the year ended March. (Bloomberg)

Provogue’s Real Estate To List On Bourses –  Markets will see the listing of a new entrant in the real estate space around mid-August–Prozone Capital Shopping Centre, the demerged arm of the clothing retail player Provogue. The company is a joint venture between Provogue (India) and UK FTSE-100-listed Capital Shopping Centres Plc. Prozone is engaged in developing and managing shopping centers in emerging cities across India and now will also develop residential and office spaces. (Economic Times)

Cairn’s Rahul Dhir Quits To Pursue Entrepreneurial Interests – Cairn India’s high-profile CEO Rahul Dhir will quit the company at the end of this month while Sudhir Mathur will join as the new CFO, putting in place a new management team. Dhir, 46, has been an international banker with stints at Morgan Stanley and Merrill Lynch, and will now pursue “entrepreneurial interests”. (Economic Times)

ITNL Eyes Operational Road Assets – IL&FS Transportation Networks (ITNL) is looking to acquire road projects that have been operational for around two-three years. The company would prefer to look at projects that had been operational for a few years, giving it visibility for revenues in the future. ITNL had got at least two such offers from promoters of highway projects who wanted to sell out. (Business Standard)

US-based Das Star Ventures To Fund SideFX – City based 2D animation company SideFX Entertainment, on Wednesday announced that they have received an investment of Rs 5.5 crore from  US based Das Star Ventures. With this new investment backing, SideFX plans to augment its hi-tech, 2D animation production capacity, targeting lucrative markets worldwide for animated TV and Film content. (Business Standard)


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News Roundup: Multiples to invest Rs 220Cr in Vikram Hospital

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