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With $35 billion in investment capital, DE Shaw and Co., the world’s fourth-largest hedge fund, has set its eye firmly on India. This September, DE Shaw will open its second office in India, just 14 months after it started off in Gurgaon, outside New Delhi. Having already done $561 million in announced private equity deals, DE Shaw will have invested well over $1 billion in India by June. Not surprisingly, the firm, which is famous on Wall Street for being very reclusive about its trading methods, is unwilling to give out much detail about its gameplan for India. However, three clear patterns emerge from the four deals that the fund has disclosed so far. First, while it is largely sector-agnostic, it will likely broadly focus on companies that exploit India’s cost arbitrage advantage (think auto ancillaries, animation); opportunities that arise from deregulation (think media companies) and public-private partnerships (think infrastructure and real estate businesses). Second, deals will also be size-agnostic, from as little as $8 million up to $400 million or more. […]
Private equity firms invested around $3.2 billion in 76 Indian companies during April-June, Venture Intelligence, which tracks private equity investment in India, said Tuesday. The amount invested during the second quarter was up 68.4% from the same period last year when India drew $1.9 billion in 67 deals, Venture Intelligence said in a statement. Carlyle Group and Citigroup's joint investment of $700 million in Housing Development Finance Corp. was the largest deal reported in the just-ended quarter, followed by a $500 million investment by U.S. Avenue Capital Group in SKIL Infrastructure, the statement said. […]
Reliance Technology Ventures Limited (RTVL), led by Mr Harshal Shah, played a pivotal role in Reliance Communication's acquisition of US based Yipes Holding, Inc (Yipes), the leading provider of managed Ethernet Services. Reliance Communications, through an affiliate, is acquiring 100% of Yipes, in an all cash deal valued at Rs. 1,200 crore ($300 mn). RTVL has advised and/or invested in deals to the tune of over $700 million. Yatra.com, India's largest on-line travel portal is one of its portfolio companies. RTVL has also led the investment in an unnamed technology company which formed the basis of the largest venture capital transaction in India. […]
US-based Internet giants such as Google and Yahoo are eyeing Rediff.com India Ltd, which runs one of India's most popular consumer Internet portals, for a possible acquisition. Investment banking sources told Hindustan Times that the management of Nasdaq-listed Rediff was in talks with the global companies for a negotiated takeover deal. Rediff, Google and Yahoo officials could not be immediately reached for their comments. Talk of the deal is emerging in the context of a general worldwide rebound in the Internet business, and India emerging as a hot story in the global economy with strong growth in both telephone penetration and the Internet in urban areas. Leading US-based investment journal Barrons reported this month that Rediff is seeing speculation that it could be a takeover target. Rediff’s stock has witnessed a sharp jump in share price and volume on Nasdaq over the past week, when it also launched a Website to help consumers upload voice, video and photographic content for free. […]
Engineering company RSB Group on Monday announced private equity placement worth Rs 154.35 crore by IL&FS Investment Managers as lead investor along with Evolvence. RSB will use the funds for capital expansion and to grow organically through joint ventures and acquisition, the company said in a release here. “We believe that auto ancillary and construction equipment sectors in India are high growth areas, driven by increased infrastructure spending, development of roads and highways and rising exports,” IILM's Vice Chairman and Managing Director Shahzaad Dalal said. […]
Standard Chartered and IL&FS Investment Managers are close to signing an agreement to raise a $1 billion India-focused infrastructure private equity fund, the Business Standard said on Tuesday. The two companies are expected to finalise a joint venture to manage the fund, which will be announced by the end of the month, the newspaper said, in an unsourced report. A spokesman for IL&FS declined to comment. A spokesman for Standard Chartered did not immediately return a call. […]
Leading private equity players Baring and CVC are picking up 7.5% equity each in Madhya Pradesh-based KS Oils. At a price of Rs 419 per share, each would be investing Rs 90 crore in the company. While KS Oils has roped in Baring Private Equity Asia to directly acquire 7.5% in the company, CVC would be investing by way of private placement of GDRs, or Global Depository Receipts. CVC already holds 14.9% equity in the company. This is part of KS Oils’ drive to raise Rs 400 crore for its expansion plans. The company board has also approved Rs 120 crore to be raised through foreign currency convertible bonds and Rs 100 crore from the promoters’ by way of subscription of convertible warrants. […]
JM Financial is planning to launch a $400-$500 million second private equity (PE) fund. The first PE fund, which is worth $200 million, has invested in Genesis Colors, International Tractors and the Sona group. Kampani said, “Talks for the PE fund is in its final stages.”
In retail broking space, the company is planning to open more branches by scaling them up from the present 16 to 30. “This year, about 70% of the business for investment banking will come […]
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