|
|
Red Fort Capital, a global real estate private equity fund, is raising a Rs 800-crore, India-specific fund for the realty sector. This is in addition to its earlier allocation of Rs 1,600 crore for realty projects in the country. The new domestic fund is expected to be announced by the end of December and the company will start investing in the fund from March next year. “We plan to raise the capital from high networth individuals and corporates in India. A major part of the fund has been tied up,” said Parry Singh, director, Red Fort Capital Advisors. He said the company would invest the Rs 800-crore, non-FDI fund in redevelopment projects in cities and non-FDI compliance projects, among others. […]
Private investment firm Sage Capital Advisors Pvt. Ltd plans to form a joint venture (JV) with a financial services group to launch a private equity (PE) fund or its own fund, an official said on Wednesday. “We are exploring a JV with a large financial services group as the platform will allow us to get quality investors,” said managing director Manish Kanchan, adding that Sage would hold a majority stake in the planned venture. “We can even raise up to $1 billion (Rs3,940 crore) through this JV.” Kanchan said the name of the partner and other details would be announced in a month’s time. He also said the firm is talking with potential investors to launch a PE fund of around $200-250 million if the JV falls through. PE investment in India is expected to touch about $10 billion in 2007. Investment had more than tripled to $7.46 billion in 2006, from $2.26 billion in 2005. […]
Private equity firm IL&FS Investment Managers Ltd, an arm of Infrastructure Leasing & Financial Services Ltd. (IL&FS), said it received $578 million (Rs2,277 crore) of commitments for investing in real estate projects as demand surges in the world’s fastest-growing economy after China. The Mumbai-based company, which had the first closure on its real estate fund on Wednesday, plans to raise up to $750 million mainly from global institutions over the next three months, said Shahzaad Dalal, vice-chairman, in a phone interview. […]
A clutch of domestic banks and foreign financial investors (FIIs) has picked up around 9% stake in GMR Infrastructure, the flagship company of the GMR group, for around $1 billion through a qualified institutional placement (QIP). The deal is the largest among the recent QIP deals. The investors include State Bank of India (SBI), Canara Bank, Capital International, Citigroup, T Rowe Price, Credit Agricole, UBS and Kotak Mahindra. The deal involves selling part-stake by promoters and issuing fresh shares. Post-issue, promoters’ holding will be down to 74%, while the public and new investors together will hold the remaining 26%. Sources said SBI and Canara Bank were the largest investors in the QIP, investing Rs 500 crore each. Other investors have invested between $40 million and $70 million. […]
GoAir is believed to be mulling over bringing in a new equity partner from among three aspirants, including a leading Indian corporate and a global venture capitalist – a move that would help the Wadias-promoted airline to expand its fleet to 40 aircraft by 2012. Ahead of advancing the negotiations, the budget carrier has been valued at up to Rs 1,600 crore ($350-400 million) by a leading international consultancy firm. Asked about the new equity partner and the stage of negotiations, a company spokesperson declined to comment, saying: “As a policy, GoAir does not comment on market speculations.” With the recent round of consolidation in aviation space, such as Jet Airways-Air Sahara and Kingfisher-Deccan deals, GoAir is emerging as an attractive investment target and has received offers from an international venture capital firm, an Indian corporate and another domestic financial investor, people close to the development said. […]
Hyderabad-based Ramky Group, which had revenues of Rs1,000 crore last fiscal, is set to unlock value of three of its entities that attracted investments from global private equity (PE) firms through initial public offerings (IPOs). The group has three entities, Ramky Infrastructure Ltd, Ramky Enviro Engineers Ltd (REEL) and Ramky Estates and Farms Pvt. Ltd (REFL). The group is valued at around $3 billion (Rs11,880 crore). Global PE players that picked up minority holdings in these companies include Infrastructure Leasing & Financial Services Ltd (IL&FS), Sabre-Abraaj Capital, Lehman Brothers Holdings Inc. and Deutsche Bank AG. The first off the block with its IPO will be Ramky Infrastructure—a Rs720 crore company in revenues last year, which is mainly into developing industrial estates. Ramky Infrastructure plans to go public sometime in the first quarter of next year. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|