Sequoia, Sandstone, Madison Invest Rs 200Cr In Micromax – Private equity (PE) players Sandstone Capital, Madison India Capital and Sequoia Capital have picked up a minority stake in India’s largest domestic handset maker, Micromax for about Rs 200 crore ahead of its possible listing on the bourses. The three PE players have acquired less than 10% stake in the company. (Economic Times)
Cognizant In Advanced talks With Genpact – Information technology services major Cognizant is at an advanced stage of negotiations to acquire Genpact, the business process outsourcing (BPO) giant. Private equity players and GE are looking at a possible exit from Genpact. GE, for which Genpact was a captive unit, has around 9.1% stake while PE firms General Atlantic and Oak Hill hold 41.7%. (Business Standard)
Country Club Eyes Acquisition, PE – Leisure and clubbing major Country Club India has lined-up a Rs 100 crore investment over two years to set up a chain of country spas pan-India even as it eyes property acquisitions in the Gulf. Country Club is looking at acquisitions overseas in destinations such as Muscat, Abu Dhabi and Bahrain. The company is mulling various funding options such as a Follow-on Public Offer (FPO) or Private Equity (PE) funding for its overseas acquisitions. (ET)
Deutsche Bank Blocks Vishal Retail Sale – Deutsche Bank and its asset management arm, lenders to retail major Vishal Retail, have received stay orders from the Delhi High Court, which has asked Vishal not to dispose assets. The order puts a question on its sale to Chennai-based Shriram Group and private equity fund Texas Pacific Group for Rs 100 crore. (ET)
Wadhawans Lead Race For Artemis Hospital – The Wadhawan family of the Mumbai-based real estate firm Housing Development and Infrastructure (HDIL) has emerged as the front-runner to buy Gurgaon-based Artemis Hospitals from the Kanwar family that runs Apollo Tyres. Hyderabad-based hospital chain and a business family from Punjab are also in the fray with the hospital being valued at around Rs 450 crore. (ET)
Riddhi Siddhi Buys 5% In USE – Riddhi Siddhi Bullion, a major gold dealer, has taken a 5% stake in the United Stock Exchange (USE), which will go live with currency trading from tomorrow. In a separate transaction, New Delhi-based Jaypee Capital is in talks with two large export houses to sell 10% stake in USE. (BS)
Jaypee Capital Becomes Anchor In NCDEX – National Commodities and Derivatives Exchange (NCDEX), the country’s number two exchange in terms of market share and volumes, is allotting fresh equity to ensure 26% holding with New Delhi-based Jaypee Capital. (BS)
Indiabulls May Exit Comex – Indiabulls Financial Services has indicated it will completely exit the commodities exchange business, by selling its entire 40% stake in Indian Commodity Exchange (ICEX). It had earlier decided to sell 26% to the Reliance Anil Dhirubhai Ambani Group (ADAG). (BS)
Edelweiss Ups Stake In Catholic Syrian Bank – Edelweiss Capital Ltd has raised its stake in Catholic Syrian Bank Ltd (CSB) by buying 4% of the Kerala-based private sector lender from Bangkok-based entrepreneur Sura Chansrichawla. Chansrichawla, with a stake of about 24% in CSB, had been under pressure from the Reserve Bank of India (RBI) to reduce his holding in the bank to 10%. (Mint)
PE Majors In Race For Hero Honda Stake – KKR, TPG Capital, Carlyle Group and Bain Capital are competing to acquire a part of Honda Motor Co.’s stake in India’s biggest motorcycle maker Hero Honda Motors Ltd. Two funds may jointly buy about 15%, valued at $1.1 billion, with another 5% sold to the Hero Group’s Munjal family. (Bloomberg)
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