Unilever To Launch $200M Venture Fund In India – Unilever Plc, the world’s second largest consumer goods company, is setting up a venture capital (VC) fund to invest in India. The team has already been formed and it is currently operating in London and will shortly shift base to India. The fund size would be around $150-200 million (Rs 675-900 crore) initially and it will raise money from third parties. Unilever Corporate Ventures, set up in 2001, has investments across Western Europe and North America in both independent funds and a portfolio of direct investments. It is also planning a fund in China. (Mint)
JPMorgan PE To Invest $400M In SKIL Infra – JP Morgan Private Equity is set to pick up an 18% stake in SKIL Infrastructure, a company promoted by Nikhil Gandhi, for $400 million. Should the deal go through, it would value SKIL at $2.2 billion or approximately Rs 330 per share. The transaction is part of SKIL’s strategy to raise $500 million through private equity and will help it retire $250 million of debt, which it had raised to up its stake in Pipavav Shipyard and buy stake in Everonn Education. The balance $150 million will be invested in its infrastructure and education businesses. (Financial Express)
Mahindra Partners Conceptualize $300 Home – Mahindra Partners, a private equity arm of the Mahindra group, has conceptualised a $293.7 or Rs 13,217 house (not including land cost) that could be explored for global commercial application. A team from Mahindra Partners had submitted an entry and has now been invited to the US for a prototype workshop. The Mahindra’s low- cost house is made out of bamboo and boasts of safety features apart from solar operated lights.
BSE To Issue Shares To Foreign Exchanges, HDFC Bank – The Bombay Stock Exchange (BSE) will finalise a decision to issue new equity shares to the Singapore Exchange and Deutsche Boerse, along with HDFC Bank, next week. About 1.27 million shares would be issued by BSE to the three institutions, at Rs 375 each, valuing the exchange between Rs 3,800 crore and Rs 4,000 crore. The share sale will help BSE raise Rs 47 crore, to be partly used to pay market makers. (Business Standard)
Indian Government Sets Up Port Investment Arm – India is going global with its maritime ambitions with the government setting up Indian Ports Global, a dedicated company like Dubai Port International and Singapore’s PSA International, that will invest and acquire stakes in overseas ports and container terminals. The cashrich port trusts that are owned by the government will pump in Rs 2,500 crore into India Ports Global, which will initially act as the shipping ministry’s investment arm. The company will then leverage this amount to raise another Rs 5,000 crore from the market by issuing tax-free bonds. (Times of India)
Religare Capital To Buy Two Brokerages In Africa – Religare Capital Markets Ltd, owned by billionaire brothers Malvinder and Shivinder Singh, plans to buy two brokerages in Nigeria and South Africa to increase access to foreign institutional investors. Last year, the company extended its presence to several countries. It bought the UK and the US operations of South African brokerage Barnard Jacobs Mellet Holdings Ltd, a 50% stake in Sri Lanka-based Bartleet Mallory Stockbrokers Pvt. Ltd, and Central Joint Enterprises, a Singapore-based research firm with a branch in Hong Kong. (Mint)
IPL Revokes 17.33% Stake In Hero Honda – The country’s largest two-wheeler maker Hero Honda today said its promoter group firm Hero Investments Pvt Ltd (HIPL) has revoked 17.33% shares of the company that were pledged to three different investors. HIPL is estimated to have bought back the shares for a total consideration of about Rs 6,150 crore. After this transaction, HIPL’s pledged stake in Hero Honda comes down to 2.60%. Two private equity firms, Bain Capital and GIC Singapore, together picked up a 29% stake in HIPL for Rs 3,650 crore. (Moneycontrol)
GE Energy Open To Joint Ventures – GE Energy is “open” to joint venture in India for three of its main products, which includes, steam, solar and the Jenbacher turbines. GE Energy India would be keen to set up joint ventures because it gives an opportunity to further localise and customise its products for the Indian market leading to better value proposition for the customers. The company would also look at joint ventures in the transmission and distribution space. (Business Line)
Zuari Ups Stake In Nagarjuna, Texmaco – Fertiliser manufacturer Zuari Industries (ZIL) today said that it has further increased its stake in Nagarjuna Fertilisers and Chemicals (NFCL) and Texmaco through open market transactions. While ZIL increased its share in NFCL to 6.79%, the company’s stake in Texmaco rose to 5.01%. In March this year, ZIL had said that the Adventz group has planned a total capital outlay of $2 billion (around Rs 10,000 crore) in the next four years for business expansion. (Business Standard)
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