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The buzz is back in India's oldest financial institution IFCI as the finance ministry has again revived the process of selling stake in IFCI to strategic or financial investors. The IFCI stock surged over 4.5 per cent in Wednesday’s trade on multiple block deals. NDTV has learnt that the finance ministry has asked IFCI's top brass to start the process of stake sale and here are the options before IFCI. IFCI may sell 26 per cent stake to strategic investor and it might alternatively hive off 10-15 per cent stake to a financial investor. The IFCI board is to meet on April 29 to consider stake sale. […]
A Norway-based private equity fund will invest Rs 400 crore (500 million Norwegian kroners) in India's energy sector, which is expanding rapidly to meet the South Asian country's growing need for power and oil. The Indo-Nordic Private Equity AS was launched last week in Norway's capital of Oslo by Indian Ambassador Mahesh Sachdev and that country's richest man Stein Erik Hagen. “Till now, most of the business between India and Norway was in the form of Indian companies buying services from Norwegian companies in the field of shipping and oil and gas,” Suneel Regulla, the managing director of the fund, said. […]
Private equity firm Blue River Capital has picked up a minority stake in Wilson Sandhu Logistics (WSL), a freight management company, for Rs 40 crore. WSL has offices in 35 locations across the country and an agent presence in over 70 countries. The company has capabilities in multi-modal transport and also handles specialised cargo for some of its clients. WSL has recently acquired Detraco GmbH, a freight management company based in Germany. […]
Chairman of Wipro, Azim Premji`s, private equity fund PermjiInvest has acquired 2% stake in Koutons Retail for about Rs 200 million, reports Business Standard. Through his private equity fund PremjiInvest, Premji acquired about 300,000 shares of Koutons from the secondary market. This is the second investment by Wipro Cheif in a textiles related company. Earlier he had acquired more than 3% stake in Bangalore-based Himatsingka. (My Iris) […]
D E Shaw, a global private equity firm has picked up a 35 per cent stake in Mysore-based e-learning firm Excelsoft for Rs 125 crore, valuing the Rs 50 crore firm at Rs 350 crore. This 35 per cent stake was held by UTI Ventures, which had invested Rs 2.5 crore in 2001. UTI Ventures, with this exit has multiplied its investments 50 times, making this among the top exits in the recent history of PE/VC investments in India. UTI Ventures’ MD & CEO Raja Kumar confirmed the development but declined to spell out further details. According to industry sources, other private equity funds such as Sequoia and Cisco Ventures were in the race to pick up stake in the firm which is estimated to have pretty high net margins. According to recent information, Excelsoft posted a net profit of Rs 25 crore on a topline of Rs 50 crore. Sources further indicated that UTI Ventures in addition to selling its stake to D E Shaw, has invested a further $5 million in this firm at its present valuations. […]
Leading PE firms and banks such as ICICI Venture, Yes Bank, GM Financial and Standard Chartered are learnt to be in talks with Ranbaxy’s diagnostic chain, SRL Ranbaxy, for a minority stake ahead of the company’s proposed IPO. SRL Ranbaxy has received expressions of interest (EoI) from several financial funds and talks are at a fairly advanced stage. However, the company has not finalised the financial details or the stake it would offload before its public issue. “The equity that the company will divest to financial funds will be finalised after the valuation of SRL Ranbaxy is worked out,” sources said. SRL Ranbaxy plans to raise around Rs 200-Rs 250 crore through its maiden IPO and may dilute 10-20% to PE funds as a pre-IPO arrangement. […]
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