As Financial Technologies India Limited (FTIL) is selling its stake in the Multi Commodity Exchange (MCX), it is reliably learnt that Warburg Pincus, a leading private equity firm, and Tata Capital have also shown interest in picking up stake. The Bombay Stock Exchange and Deutsche Borse are also keen to pick up stake. Among private players, Kotak Group has also shown interest. However, as per existing norms, the players cannot take more than five per cent stake each in MCX. Meanwhile, MCX has once again asked FTIL to transfer its shares in the exchange to an escrow account, even as the latter has initiated the process of divesting from the bourse in a transparent manner. Last week, FTIL informed the regulator and MCX that J M Finance, an investment advisor appointed by it for the purpose, had already received offers from 10 reputed national and international players. The company has also said the process of divesting stake would be completed in six-seven weeks. (Business Standard)
Vodacom said to discuss final details with Tata for Neotel deal: Vodacom Group Ltd, South Africa’s largest wireless carrier, is negotiating final details for a deal to buy local Web-access provider Neotel Pty Ltd from Tata Communications Ltd, two people familiar with the matter said. An agreement has yet to be approved by Neotel’s lenders and board, said one of the people. The companies, which also need regulatory approvals, expect to complete the transaction in the first half, the other person said. The transaction could be worth more than 5 billion rand ($473 million), a person familiar with the discussions said in September. Vodacom would assume about $500 million of debt, people familiar with the talks said in October. (Live Mint)
Franklin Templeton to raise Rs 600-crore India PE fund: Global financial powerhouse Franklin Templeton is looking to raise its second India-focused private equity (PE) fund with a target corpus of Rs 500-600 crore ($83 million – $100 million). This is the second time that Franklin Templeton – under Franklin Templeton Private Equity Strategy (FTPES) – is raising funds predominantly from Indian high net worth individuals (HNIs). Earlier, in 2008, Franklin Templeton had raised close to Rs 500 crore, after getting an extremely good response from HNIs in India. Deepa Sankaran, managing director, Darby Asia Investors (investment advisors for Franklin Templeton Private Equity Strategy or FTPES), told Business Standard the process to initiate the second India fund would start shortly. (Business Standard)
Skill Pro to raise $5-10 mn to fund expansion: Focus Ventures CEO Anantha Rao, an early stage investor, is planning to raise private equity to fund the expansion of a skill development company he had acquired last year. Hyderabad-based Skill Pro is into training of under Class 12th students with a guaranteed placement in companies that partly or fully sponsor the 3-month skill development course of the candidates. He is planning to raise $5 million – $10 million (Rs 30 crore – Rs 60 crore) to fund further expansion. (Business Standard)
Vivendi Ventures to launch realty PE biz: Chennai-based Vivendi Ventures, which is into real estate development and fund management, is planning to launch a private equity arm headquartered in Singapore, to invest in real estate projects in India. The company will be launching an entity in Singapore with an initial offer of Rs 200 crore ($33 million) in 2015, which would be increased to Rs 500 crore ($83 million) by end of 2016,” said Srinivas Anikipatti, chairman and managing director of Vivendi Ventures. It expects to invest in real estate projects in India and complete investments in three years starting from 2016. After this, it would be looking for a major fund raising for the real estate PE investments, he said. (Business Standard)
Greenko in talks with KKR to raise $100 million: London’s AIM-listed clean energy specialist Greenko is in talks with a few leading PE investors, including KKR, for a $100 million (Rs 599 crore) investment, said multiple sources aware of the discussions. The company and its global subsidiaries already boast of several high street investors such as Singapore’s GIC, Global Environment Fund, Standard Chartered Plc backing them up. It even had TPG Capital as one of its earliest backers. The discussions with KKR have not yet reached any finality and the fund has initiated a detailed diligence on the company’s operations. Sources, however, add that the new investments likely to come at Greenko Energies, the group’s Indian entity, for a significant minority stake in the company. (The Economic Times)
Oman keen to buy 20% stake in Petronet’s LNG terminal: Oman is keen to buy up to a 20% stake in Petronet LNG Ltd’s Rs 5,000 crore ($833 million) LNG import terminal on the east coast, the nation’s oil minister Mohammed bin Hamad Al Rumhy said today. We are interested in Petronet. We are looking to invest in one of their projects in east coast. We have not decided on stake. It will be small, maybe 10-15-20 per cent,” he said after delivering Petronet’s foundation day lecture here. Petronet plans to build its first terminal on the east coast through a subsidiary in which it wants to retain a minimum 51% stake. “Eight per cent stake has already been taken by Gangaravam Port and are willing to take strategic partners,” Petronet Director (Finance) R.K. Garg said. (Business Line)
Omidyar Network to invest $200 m in Indian startups: Omidyar Network, which invests in both for-profit and non-profit ventures, is hopeful to put in at least $200 million (Rs 1,197 crore) in the next three to five years in India. The early stage investor has already used $120 million (Rs 718 crore) for Indian start ups in various sectors. Most of our investments have gone in for profit ventures that could be around 70%. Globally Omidyar has invested $600 million so far. (Financial Chronicle)
Aurum Soft Systems plans to sell stakes in its subsidiaries: Aurum Soft Systems Ltd. is planning to sell stake in Dicetek LLC., Dubai, and Dice Technologies Inc., USA, held by Dicetek (Sing) Pte Limited, Singapore, which is a wholly owned subsidiary of the company including closure of operations of the said step down subsidiaries or other appropriate course of action, as may be deemed fit and necessary. The company received approval from its board for the proposed stake sale. (BSE)
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