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Global investment and technology development firm DE Shaw & Co. Inc. invested 6.3 billion rupees in India's International Amusement Ltd. (IAL), reported Business Standard, quoting unnamed sources. The report said the private equity deal values IAL at 30 billion rupees, but said the exact stake acquired by DE Shaw was unclear. Robin Vijeshwar, managing director, IAL, was quoted as saying that the company is in talks with several private equity funds, but declined to discuss the details of the transaction. The company plans to use the funds for its 350-acre Jaipur amusement park, and some other ongoing projects, the financial daily said.(Forbes) […]
UTI Ventures, the venture capital arm of UTI asset management company, is planning to raise a $400-450 million fund. This will be the third fund of Bangalore-based venture capital major and is likely to be called “Ascent India Fund”. The fund will open by July and close in 3-6 months. The company would tap institutional investors in the US, Europe and Asia. Endowment funds, pension funds and high-end sovereign wealth funds would contribute in the fund-raising exercise, according to sources. The fund will finance deals ranging between $15 and $20 million. It would invest across sectors, with a major focus on infrastructure, retail and media. The venture capital arm of India's third largest AMC has initiated talks with prospective companies for investment purposes. […]
As part of its backward integration plans, Sujana Metal Products Ltd (SMPL) is planning to diversify into iron ore mining. The company, which is on an expansion spree, is looking for another spate of acquisitions to take up its capacity to one million tonne per annum (tpa) by 2010, from the current 7,28,000 tpa. V S R Murthy, group director, Sujana Group of Companies, said, “We are very close to acquiring a Hyderabad-based company, which has a sponge iron manufacturing facility of 67,000 tpa.” He said the Hyderabad-based company, whose name he refused to divulge, already has iron ore linkage at Bellary in Karnataka, has a total capacity of up to 30 million tonne. SMPL would close the deal in the next three months. After acquisition, it would expand the capacity of the acquired company to 1,00,000 tpa. […]
Cinema Capital Venture Fund, (CCVF) reckoned to be India's first regulated entertainment venture capital fund, is set to be launched shortly. Confirming the development, CCVF senior partner Samir Gupta said: “Yes, we have got Sebi’s approval and will be launching shortly with a corpus of Rs 500-700 crore. We are looking to offer the Indian investor a unique investment opportunity in the fast growing film entertainment sector.” CCVF will be a close-ended fund and will look to invest in a broader spectrum of the entertainment industry and not restrict itself to financing just films. Mr Gupta, who has been producing films and television programmes for the last decade, and five other professionals will manage this fund. Sanjay Bhattacharjee, will be the COO of the fund along with some film producers and senior media professionals. Mr Bhattacharjee, was earlier with UTV and helped set up their film business, while Mr Gupta headed the Indian arm of London-based Fact Based Media and produced the reality show, Lakme Fashion House. […]
After nearly a month’s speculation the mystery buyer of a troubled Scottish fashion chain has been revealed to be the Indian textiles giant S Kumars. Around 1,000 workers were celebrating after an unnamed overseas buyer was reported early May to have purchased Internacionale, which had been put up for sale after its parent company collapsed earlier this year. The future of the chain became uncertain when the Glasgow-based parent company Ossian Retail Group sold its £25 million debt to an investment company, Agilio. There were rumours the group would be broken up, threatening the livelihood of workers at Internacionale’s 105 stores in Britain, including nearly 30 in Scotland. Although the buyer was not named there was some speculation that it was from India. Now the Glasgow-based Herald newspaper has revealed the buyer as S Kumars Nationwide Limited (SKNL) – a household brand in India. However, the sale price is not yet known. […]
In a pre-IPO placement, Lotus Eye Care Hospital has sold 2.55 lakh equity shares of Rs 10 each to publishing house Bennet, Coleman & Company, at a price of Rs 50 each. Lotus Eye Care Hospital proposes to enter the capital market with a public issue of Rs 42-crore to part finance its Rs 55-crore plan for expansion of existing facilities and establishment of new centers with latest technologies. Located in Coimbatore, Salem and Tirupur, Lotus Eye Care Hospitals is one of the leading eye care hospitals in south India. Lotus has been the pioneer in bringing latest world-class technologies into the country. Multi scan Lasik, Epilasik, Zyoptix Z100 are some of the technologies introduced by Lotus. Its hospitals are equipped with ultra-modern fourth- generation instruments, required for critical ophthalmic surgeries. […]
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