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India-focused real estate investment company Yatra Capital Ltd said it has invested 28.01 mln eur in two joint venture projects in Bangalore. Yatra said it has acquired a 30 pct stake in Palladium Constructions, for 17.86 mln eur, and another 30 pct stake in Platinum Hospitality Services, for 10.15 mln euro. The company said with the new projects, it now has invested in 11 deals and has used 146.34 mln eur of 220 mln eur it has earmarked for investments in the Indian real estate market. […] The Rs. 3500-crore Gitanjali Gems Ltd., India's largest integrated diamond and jewellery manufacturer and retailer, today announced the complete acquisition of Gili. Earlier the Group had 65% stake in the 'Superbrand'. The first jewellery brand to be launched in India- Gili is evaluated at INR 85 cr today and had achieved a Superbrand status in 2004. For more than a decade now, the brand offers Indian consumers a world of choice in gold and diamond jewellery – truly “Easy Elegance”. Gili was launched in the year 1994 with its primary brand value being, “Genuine diamond and gold jewellery at affordable prices” and it has come a long way becoming andd sustaining itself as one of the most preferred brand in its category. Gitanjali Gems Ltd has also acquired 100% Shares of 'Modali Gems Pvt Ltd.' (MGPL), earlier a joint venture Company. By way of this acquisition, MGPL has become a wholly owned subsidiary of the Company. The main business of MGPL is to manage the distribution of the brand Asmi and allied products. It is currently a 120 people company with about 45 distributors and 345 retailers under its banner. These powerful acquisitions will drive much more value to key stakeholders including end customers, and partners of Gitanjali Group. This all adds up to advantages including better deals for consumers and access to the world's most coveted brand than ever before. […] Kotak Investment Advisors Ltd (KIAL) has raised $440 million in a fund to invest in private equity opportunities, taking its total corpus under management to $1.4 billion. Kotak will continue its focus on investing in small and medium enterprises, mostly unlisted, a top official said. The fund has been raised entirely from institutional investors and high networth individuals in India who are Kotak Mahindra’s clients. Compared to three years ago when the emphasis of investment was on global themes, private equity strategy is increasingly shifting to domestic opportunities, C Jayaram, head of KIAL and executive director at Kotak Mahindra Bank, told ET. “We believe that is where the growth story is. Our sweet spot will also continue to be investments in range of $10 m-$30 m,” he said. […] Liquor tycoon Vijay Mallya is open to buying back Heineken’s 37.5% stake in United Breweries (UB), in which he holds an equal stake, at the prevailing market price. “If you ask me whether I would buy them back, my answer is at today’s price, sure, I am a buyer,” Mr Mallya told ET. But Heineken sources said the Dutch brewer has no plan to sell its stake. Heineken will inherit stake in UB from Scottish & Newcastle (S&N) after the completion of a worldwide takeover of the British brewer. The Heineken-Carlsberg combine announced S&N’s acquisition for $15.4 billion in January. The acquisition process is still on. At the current price, UB’s market cap is pegged at Rs 3,800 crore, down almost 50% from January’s peak. Mr Mallya will have to show up with Rs 1,425 crore if he were to buy back at the prevailing rate. The UB scrip closed flat at Rs 176 on BSE on Thursday. […] |