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In a pre-initial public offering (IPO) deal, four global private equity majors together picked up 2.25 per cent stake in Pipavav Shipyard (PSL) for around Rs 105 crore. The firms – Blackstone, Merrill Lynch, Deutsche Bank and Galleon Group – have picked up 13 million shares of the port and shipping company. Global private equity major Blackstone picked up five million shares through its India Fund, Merrill Lynch four million, Deutsche Bank two million and Galleon Group two million shares of the company. The shares were all bought at Rs 80 each, which is close to the company’s IPO price band, according to sources. The total investments by made the PEs increases the total foreign institutional investor (FII) stake in PSL to 29 per cent. After this investment, the total institutional holding in company (foreign and domestic) stands at around 45 per cent. […]
Goldman Sachs is in advanced stage of discussions to invest around Rs 800 crore in Bangalore-based real estate player Century Group, sources said. The real estate fund of Goldman Sachs is seen infusing liquidity into a special purpose vehicle (SPV) for commercially developing over 300 acre near Yelahanka in north Bangalore, which is in proximity to the upcoming international airport. Goldman Sachs, which has committed investments worth over $ 2 billion in India, has identified real estate and infrastructure as the key sectors for investment. Notwithstanding, a certain cooling off in recent quarters, the returns from the Indian real estate sector is still seen as one of the best in the Asia Pacific region, which may have prompted US financial giants like JP Morgan to take a big plunge into the domestic realty market. […]
Entertainment firm Pyramid Saimira Theatre on Thursday said it has acquired UK-based Aurona Technologies for an undisclosed amount. The company said in a filing to the Bombay Stock Exchange that it has acquired a majority stake in the video games and interactive entertainment software company and the new entity would be known as Pyramid Saimira Production Services Ltd. “We are extremely happy to announce this strategic acquisition of Aurona Technologies Ltd. This marks the entry of Pyramid Saimira in the high-growth, high-margin animation and gaming industry,” Pyramid Saimira Group Managing Director P S Saminathan said. The group has access to a huge content library and would be able to cross-exploit the content properties. The acquisition brings not only the existing knowledge and customer base, but also high quality management bandwidth, with international exposure, he added. Aurona Technologies Ltd CEO Santosh Pillai would take over as the Director of the new entity. The company is also planning to enter the European market to cash in on the available potential and achieve synergy. […]
ICICI Venture, the largest homegrown private equity firm, is launching a separate $3-billion infrastructure fund to invest in road, port and power projects across the country, CEO and MD Renuka Ramnath said. ICICI Venture will raise the money from domestic and institutional investors some time this year. The infrastructure fund will be the firm’s third-biggest fund launch and will help it achieve a target of $10 billion assets under management by 2010. A $2-billion real estate fund and a private equity fund of similar size are also being planned. “We are looking at multiple pools of capital to satisfy the different needs of the economy. Through this, we hope to identify the best investment opportunities for capable entrepreneurs,” Ms Ramnath said. She added that a separate fund for infrastructure was necessary as the profile and needs of investors were different. The infrastructure fund has come to I-Venture after ICICI Bank, the parent, decided not to proceed with its own plans. Credit Suisse First Boston is advising I-Venture on the fund raising plan […]
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