Speciality Restaurants (SRL) which runs popular restaurant chains like Mainland China, Oh Calcutta, is in talks to acquire an American regional brand for its foray in quick service restaurants (QSR). The discussions are in the final stages and the deal is likely to be inked in the next couple of months. The company is already sitting on a cash surplus of around INR 150 crore ($27.66 million). (Business Standard)

Omidyar Network plans to invest $100-200 mn in Indian companies: US-based philanthropic investment firm Omidyar Network is looking to invest $100-$200 million in for- profit and non-profit ventures in the country over the next 3-5 years. The firm has invested $113 mn across 35 companies in India since 2010. Omidyar investments are focused around consumer internet and mobile, entrepreneurship, financial inclusion, government transparency and property rights. A few months back, the company invested in Kolkata-based IT-enabled services firm iMerit Technology Services. The firm invests $1mn to$10 mn in for-profit companies and $500,000 to $5mn in non-profit companies. (The Times Of India)

Apax Partners looking for deals in Consumer, Lifestyle sectors to boost investment in India: Apax Partners is scouting for deals in the consumer and lifestyle sectors in a bid to increase the pace of its investment in the country. The private equity major, which has been extremely selective in building its India portfolio so far, aims to close over half a dozen investments this year. The firm currently makes India investments through a $15-billion ( INR 81,000 crore) global fund, Apax-VII. The company would take a significant minority stake in its portfolio companies between 10% and 15% and would stay invested for a period of five to seven years. (The Economic Times)

Finance ministry plans to divest majority stake in IFCI, could raise up to INR 3,000 crore: In a clear signal it has no long-term interest in IFCI, the finance ministry has proposed offering strategic control stake to an investor, barely months after converting its loan to equity, a step that made the institution a government company. The department of disinvestment has prepared a cabinet note to this effect. The government currently holds 55.57% stake in the company. The government could raise up to INR 3,000 crore ($553.25 million) in the stake sale. (The Economic Times)

Courtesy: VCCEdge


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