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Archies, India’s No. 1 greetings card and gift company, is exploring the possibility of an alliance with a foreign entity. The company has a 60 per cent market share in the social expression industry, which includes greetings cards, gifts and accessories. “We are open to such strategic alliances with international players. We could either bring in equity partners or go for brand tie-ups. There could also be a round of private placement to fund our growth plans,” said Anil Moolchandani, chairman and managing director of Archies. Archies plans an additional 180 stores by 2010, which will require an investment of around Rs 30 lakh per store. At present, Archies has 105 exclusive outlets. It has also signed up with more than 250 malls and over 350 franchisees across the country. The focus of the franchisee outlets will be Tier II and Tier III towns. […]
Pearl Exploration & Production Ltd., a Canadian oil and natural-gas explorer, climbed to a four-month high in Stockholm trading after the Economic Times of India said ONGC Videsh Ltd. is in talks to buy a Canadian oil company. ONGC Videsh is negotiating a possible takeover of a mid- sized Canadian oil producer whose assets include oil sands, the Economic Times of India reported on its Web site, without saying where it got the information. The target company is listed on Canadian and Swedish exchanges, the newspaper said. […]
Mauritius-based firm Healthcare Investment (HIL) is picking up around 8.5% stake in Apollo Health Street (AHS), the healthcare BPO arm of India’s largest healthcare company, Apollo Group, for around Rs 61 crore. This values the company at just over Rs 700 crore. HIL is learnt to the healthcare investment arm of a leading financial firm. However, ET could not identify the name of the financial firm. AHS is planning to offload 20% stake of its post-issue paid up capital to raise around Rs 160-170 crore from the capital market through its initial public offer (IPO). According to sources, AHS is now allotting 23 lakh shares to Healthcare Investment at Rs 260 per share through issue of equity shares or compulsorily convertible preference shares as part of the pre-IPO placement. […]
Private equity majors IDFC Project Equity and Lehman Brothers are in advanced stage of talks to pick up 16.66% in Konaseema Gas Power (KGPL) for around Rs 500 crore, sources told ET. The deal, which is expected to be concluded shortly, values the Andhra Pradesh-based power utility KGPL at around Rs 3,000 crore. KGPL sources confirmed the fund-raising plans and added that about 8.33 crore shares will be placed to the funds at a price of about Rs 60 per share. Out of the total Rs 500 crore, IDFC would invest Rs 200 crore, while Lehman would pick up stake amounting to Rs 300 crore. When contacted, the official spokesperson of KGPL declined to comment on the deal. It is learnt that the funds will be utilised for part- financing a 820 mw plant, which is in the second phase of its 1,280 mw project. The first phase has already been completed. The total cost of the second phase would be around Rs 2,800 crore. KGPL is planning to go public during the second half of 2009, once it receives gas supply and is able to commence power generation. […]
Motilal Oswal Ventures Capital Advisors on Tuesday said its 125-million-dollars private equity fund -India Business Excellence Fund- plans to invest in 10-12 companies by this year-end. “We are close to sealing a few transactions within the next few weeks,” a Motilal Oswal Venture Capital Advisors Pvt Ltd (MOVCAPL) official told PTI here. The company was already evaluating various companies in which to pump in investment and “by end-this year, we hope to complete investments in about a dozen companies,” the official said. The 125-million-dollar growth stage fund which achieved its final closing in December last, invests across sectors except in retail and real estate. […]
New Delhi-based e-learning company Educomp Solutions has informed that it has invested US$ 24.5 million for acquiring 51% stake in US-based Learning.Com. Learning.Com, founded in 1999, offers web-delivered curriculum and assessment, serves nearly two million students in schools across the United States and has partnership with schools and districts throughout the United States. The deal includes the purchase of existing shares as well as an infusion of new capital into the company. Through this deal, Educomp has got distribution access to over 800 districts. This will also leverage its substantial content development and IT capabilities to reach out to North American markets. This is Educomp's second strategic investment after the acquisition of Singapore-based Ask n Learn. […]
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