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India focused real estate investment company Yatra Capital Ltd said it plans to raise 150 mln eur through an equity offering in Netherlands and private placements. In a release, Yatra said it will use the proceeds to invest in Indian real estate development projects identified by its Mauritius-based subsidiary, K2 Property Ltd. K2 Investment Committee, its advisor, has identified further financing opportunities of 231 mln eur and in order to fund this pipeline projects, Yatra will raise 150 mln eur with the right to increase the offer size. Since its initial capital raising in Dec 2006, Yatra has committed to investing 88.4 mln eur through ten investments in India.(Forbes) […]
Business process outsourcing firm, Tricom India has acquired the assets of US-based Apex Document Solutions for 2 million dollar, a deal that would enhance the domestic firm's presence in the litigation support vertical. “The acquisition will augment the company's current sales setup in the US with the newly acquired on-site processing and support facility eliminating the distance and data confidentiality barriers,” Tricom India Managing Director Chetan Kothari said. A Memorandum of Understanding was signed between Tricom and the US-based service provider of litigation support service, which include any professional assistance non-lawyers provide to lawyers in the litigation process. The acquisition was funded through internal accruals and finance from banks or other financial institutions. […]
The board of directors (BoD) of IT People India, at its meeting held on Sep. 24, 2007, approved acquisition of 100% stake in Marketplace Technologies, formerly known as ENC Software Solutions, a closely held company, and the eventual amalgamation of it into IT People, subject to necessary approvals from shareholders and authorities. The company entered into memorandum of understanding (MoU) with the promoters (stakeholders) of Marketplace Technologies on Sep. 24, 2007.(My IRIS) […]
It’s raining dollars on the Deal Street. With private equity deals touching $10.8 billion thus far this year, it is small-ticket sized deals that have hogged the limelight. July-August saw a 67 PE deals totalling to $4 billion, however small-ticket deals have been the volume drivers, according to a data by Grant Thornton. Almost 43 deals were below the average deal size of $60 million (for July-August). The biggest deal was Temasek Holdings’ $1,906.74 million investment in telecom player Bharti Airtel for 5 per cent stake. The data also brings out the fact that global private equity firms are making a beeline even for minuscule stake in an established player. There have been deals as small as $1.55 million. For example, Nexus India capital pumped in $2.33 million in CE Info systems, an IT ITES company for an undisclosed stake. […]
UBS Global Real Estate, the real estate arm of global financial services powerhouse UBS Global Asset Management, plans to launch a $1-billion India specific real estate fund by the end of this year. The company has tied up with Mumbai-based real estate developer K Raheja Corp to finance various real estate projects across the country. UBS Global Asset Management is one of the three business groups of UBS, the other two being Global Wealth Management & Business Banking, and the Investment Bank. UBS Global Real Estate has invested nearly $50 billion in assets till March 2007 and has around 360 employees and 13 offices around the world. According to industry sources, the proposed fund will have a lock-in period of seven years with the option of two one-year extensions. UBS Global has already raised nearly $100 million and plans to raise up to $400 million of equity. The fund, the first for UBS in India, will be managed offshore. […]
Reliance Natural Resources (RNRL), an Anil Dhirubhai Ambani Group (ADAG) company, is planning to rope in a strategic investor in its coal bed methane (CBM) business, offering up to 20% stake in the CBM blocks. The company has four CBM blocks, holding one of the largest acreages of coal gas in the country. RNRL had picked up these blocks in association with Geopetrol, which has 10% stake in the blocks. Sources close to the development said that RNRL has two options for getting a strategic partner. It could either rope in private equity firms, which have, of late, shown considerable interest in India’s energy story or a global CBM player who will bring in upstream expertise. RNRL, which has interests in a number of energy-related business, including fuel management, has a market cap of about Rs 12,000 crore. RNRL plans to unlock some of this value by offloading a stake in the block at a significant premium. […]
A US-based private equity fund is close to picking up a minority stake in Angel Infin Private, the holding company of domestic brokerage house Angel Broking. International Finance Corporation (IFC), the private equity arm of World Bank, is another strong contender in the race. Two private equity investors, one each from Europe and Asia respectively, have also evinced an interest in the stake sale. The due diligence process has been completed and only the final financial negotiations remain, according to sources. The deal is likely to be formally announced shortly. The valuation of the group is close to Rs 1,200-1,300 crore. When contacted, Dinesh Thakkar, chairman and managing director said, “We will be announcing the name of the investor by the first week of next month.” “The funds would be infused into our holding company, which is a NBFC (non-banking finance company). This will be our main business. The new investor will help us to increase our international presence and build on the asset side by providing us with finance and back-end support,” he added. […]
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