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Kaveri Telecom Products Ltd today said it has acquired Spotwave Wireless Inc USA and Spotwave Wireless Inc Canada at an investment of $ 7 million. This acquisition enables Kaveri to provide solutions in bringing the outdoor signal inside or both commercial and residential locations ensuring that cell phones and wireless devices work reliably indoors, said a statement. In the recent past Kaveri had acquired Til-Tek a leader in antennas, DCI, Canada, a leader in RF products and Filters and Sigma Wireless, Ireland. ''With this acquisition we are introducing an intelligent adaptive repeater in-building solution which will be a key strategic addition to Kaveri's existing in-Building product and services business,'' said company Managing Director Shivakumar Reddy. […]
Darby Overseas Investments, the private equity arm of Franklin Templeton Investments and a leading provider of private equity and mezzanine capital in emerging markets, announced that its Darby Asia Mezzanine Fund II (DAMF II) invested Rs 700 million through an affiliate in Bangalore-based Bhoruka Power Corporation. Transaction details were not disclosed. Bhoruka Power Corporation (BPCL) is a company engaged in the development and construction of small hydro-electric and wind energy power generation projects. BPCL has a portfolio of fourteen projects adding up to 91 MW of renewable energy capacity, primarily in Karnataka, with a planned addition of another 111 MW to be commissioned in the next 48 months. […]
Motilal Oswal Group, Friday, announced the closure of fund raising process for their recently floated India Business Excellence Fund (IBEF). The total proceeds realized were USD 125 million, 25% higher than the initial target of USD 100 million. IBEF`s caters to the fund requirements of small and medium enterprises ranging from USD 3-10 million. The fund focuses on PIPE deals (private investment in public equity), pre-IPO transactions and opportunities where the liquidity event is 3-5 years ahead on the horizon. Since inception in January 2007, the fund has invested in 4 different businesses such as plastics (Time Technoplast), power equipment (IMP Powers), reverse logistics and warranty management (RT Outsourcing Services), and ITES (Effort BPO). […]
Autoindia.com Online Pvt Ltd has received a round of investment from Babu Sivadasan, who was the founding Chief Technology Officer for a few start-up companies, including Stamps.com, and is currently serving as the EVP of Engg, responsible for firm-wide engineering activities at Envestnet Asset Management, the, independent wealth management platform provider for the financial advisory marketplace. The proceeds from this round will be used to continue to strengthen the company’s leadership position and offer better service to its consumers and partners. Sivadasan also joins the Board of Directors of AutoIndia.com, the fastest-growing automotive marketplace for buyers, dealers and private party sellers. This fresh infusion of capital adds to the investments already been made by Silicon Valley entrepreneurs and ensures that the company can execute its long term plans. […]
Private equity (PE) flows, which stood at $17 billion in 2007, should be treated as portfolio investment, feels the government’s key economic policy think-tank, the Prime Minister’s Economic Advisory Council (EAC). The panel has highlighted the lack of clarity on this count and called for simplification. “PE investment inflows have also been quite large. Since in most cases PE flows constitute less than 10% of the capital of the company being invested in, they should ideally be reported under portfolio capital, and not under FDI,” the EAC said in the review of economy for 2007-08. While the EAC assumes that PE funds act like portfolio investors, ground realities point to a different scenario. In such cases, the investment is more like FDI rather than a portfolio investor. There are cases of PE funds taking management control of companies in a bid to improve financial performance even in case they do not have a majority stake. Blackstone, for example, took over Gokaldas Exports, a large player in the readymade garments segment. Similarly, Actis runs Punjab Tractors and Phoenix Lamps while ICICI Ventures manages RFCL. India Value Fund, another PE, holds the reins at Shringar Cinema. […]
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