|
|
The Aditya Birla group is set to enter the private equity (PE) business in order to provide growth capital for the emerging enterprises in the country. The first investment is expected to be announced within a fortnight. The entry into the emerging PE space — the country witnessed PE deals worth $19 billion in 2007 — is in line with the group’s plans to consolidate its position in the financial services industry. The group already has presence in mutual fund and insurance businesses through joint ventures with its Canadian partner Sun Life. However, the PE venture will be entirely owned by the Birla group. Although the exact size of the group’s initial contribution to the PE business could not be ascertained, it is estimated that a sizeable portion of the $1 billion being raised by Aditya Birla Nuvo, the holding firm of the financial services activities, will be injected into it. Later on, the PE venture will raise funds onshore as well as offshore. […]
Indiabulls is learnt to have acquired DLF's stake in Kenneth Builders and Developers (KBD), which was formed as a 50:50 joint venture by the two companies in 2006. According to sources familiar with the matter, DLF has sold its 50% stake in the company to Indiabulls for about Rs 500 crore. The figure could not be independently confirmed. When contacted, DLF group executive director Rajeev Talwar declined to comment. However, industry sources confirmed the transaction, without disclosing the financial details. “It is a friendly transaction and has been done in the best interest of the stakeholders of both the companies. While DLF has booked a decent premium in the project over the last couple of years, it gives a significant foothold to Indiabulls in Delhi,” he said. At present, KBD has just one ongoing project in a prime South Delhi locality, near Okhla, where it is developing a high-end residential project. The 35.8 acres for the project was awarded to the JV company for Rs 450 crore through a competitive bid by the Delhi Development Authority in early 2006. Subsequently, the JV had bid for 3-4 more projects in Delhi and had also announced plans to bid for commercial and residential projects in other parts of the country. […]
Singapore's Parkway Group, which owns one of Asia's largest hospital chains, plans to pick up 50% stake in Mumbai-based Khubchandani Hospitals for Rs 155 crore. Mauritius-based investment holding firm Koncentric Investments will hold the remaining 50% stake in the firm which plans to set up chain of hospitals and healthcare facilities in India. Currently, Khubchandani Hospital has 10,000 equity shares paid up capital. These are held by Dr Prakash Khubchandani who is the MD of the hospital and Mrs Tarana Khubchandani. Khubchandani Hospital was incorporated in May 2006 to set up, acquire and maintain hospitals and associated businesses such as health parks and medical colleges. Parkway will invest through additional issues of 40 lakh shares at a premium of Rs 377.5 per share as against its face value of Rs 10 for the shares. As per the plan, Khubchandani Hospitals intends to set up a $80 million multispecialty hospital in Mumbai soon. The hospital is close to acquiring 10,000 sq feet of land in the city. The construction of the hospital is expected to start by the end of the year and could be completed in three years, sources said. When contacted, Khubchandani Hospital officials declined to comment. […]
State Bank of India (SBI), the country’s largest bank, has bought a 91 per cent stake in Global Trade Finance (GTF), a factoring company, for Rs 525 crore. SBI acquired the stake from three of the four promoter shareholders of GTF at a price of Rs 75 per share, according to banking sources. The three promoters who sold their stakes are: Export-Import Bank of India (40 per cent), International Finance Corporation (12.5 per cent), and FIM Bank Malta (38.5 per cent). The fourth promoter, Bank of Maharashtra, has decided to continue holding its 9 per cent stake in GTF. GTF is classified as a systemically important non-banking financial corporation (NBFC). Interestingly, SBI already has a presence in factoring business through its subsidiary, SBI Factors, in which SBI has 54 per cent stake. SBI Factors has an asset base of Rs 1,220 crore as on March 31, 2007. […]
Microsoft has acquired a 35 per cent equity stake in mobile integrated platform provider Oxigen Services India. Oxigen is an electronic recharge and prepaid distribution brand. By partnering with Microsoft, Oxigen expects to expand its business rapidly in the virtual payments and distribution space using Microsoft’s web and mobile-based technologies, as well as getting access to Microsoft’s advertising services, especially digital advertising. Microsoft will add strategic value to Oxigen’s business. […]
Times Innovative Media Limited (TIM), the Out Of Home media subsidiary of Entertainment Network India Limited (ENIL), announced that GS Strategic Investments (Goldman Sachs) and LB India Holdings Mauritius II (Lehman Brothers) have subscribed to equity shares of TIM for a total of Rs 200 crore. The deal, which was concluded on Wednesday, values TIM at over Rs 1,200 crore. Goldman Sachs and Lehman Brothers have an equity stake of 8.28% each in TIM. […]
Independent News Service (INS), the holding company of Hindi news channel India TV has received a major strategic investment of Rs 100 crore, for a 20 per cent stake by Shyam Equities Pvt Ltd, a 100 per cent Indian entity. The investment takes India TV's enterprise valuation to Rs 500 crore, up a whopping 86 per cent from Rs 270 crore in just nine months. The investment information has been filed with the Ministry of Information and Broadcasting. Accordingly, the foreign individual, foreign company, NRI, OCB, FII and PIO holdings in INS have remained at earlier levels. […]
Anshu Jain, Deutsche Bank’s global markets head, is understood to have put in a bid for one of the eight teams of Indian Premier League. Mr Jain is widely tipped to be the next Deutsche Bank CEO and has been described by some British papers as a ‘cricket nut’. He is the captain of the Desutche Bank Cricket Team and also the head of Deutsche’s most profitable division. In other words, not only does he have the money but the cricketing credentials as well. Mr Jain is not the only financial investor to consider bidding for the franchise rights. The Indian Premier League has got a number of private equity funds lining up to bid for the eight franchises on offer. Among those who have picked up bid documents for IPL franchises include Temasek, India Value Fund (formerly GW Capital) and Macquarie Bank. According to experts, private equity investors would be at a disadvantage against the strategic investors. A lot of revenue streams are unclear at this stage. A corporate investor can use the franchise to launch a corporate marketing programme. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|