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PE Investment in realty seen at over $13 b

Private Equity investment in the real estate sector may go up as much as 15-20 per cent in the current fiscal to over $13 billion in the wake of acute crisis of funds plaguing the growth of the industry. “Private Equity players started investing in India's real estate space since 2005. The sector had received $2 billion private equity investment in 2005 which went up to $4.5 billion the next year and to a whopping $11 billion in 2007. This year, it should go up by 15-20 per cent,” financial services firm Jones Lang LaSalle Meghraj's Chairman and Country Head Anuj Puri told PTI. There are mainly three preferred routes for developers to ensure funds for their projects – raising funds from capital markets, pre-sales funds from prospective buyers and loans and advances from banks and other financial institutions. […]

June 29th, 2008

Digicable acquires 51% in CableComm

Digicable Network (India) has acquired a 51 per cent stake in Kolkata-based CableComm as part of its strategy to expand in the eastern region of India. As part of the deal, Digicable will use CableComm to expand in other neighbouring parts. The multi-system operator (MSO) has already entered into Jharkhand. “Digicable has taken a 51 per cent stake. As per the deal, Digicable will have to expand in the eastern region only through us,” CableComm chairman Dileep Singh Mehta tells Indiantelevision.com while declining to elaborate on the commercial terms of the deal. CableComm plans to expand to Orissa and later to the north eastern region, adds Mehta. Local MSO Ortel dominates several cities in Orissa including Bhubaneswar. […]

June 29th, 2008

Subhiksha to acquire Chennai based company

In a move to further accelerate its growth plans, Subhiksha, a major food and grocery discount retailer, is acquiring a majority stake in Chennai based listed company, Blue Green Constructions and Investments Limited (BGCIL). The respective Boards of Subhiksha and BGCIL are also meeting on Monday (June 30) to consider a merger of the two companies. The merged entity will be called Subhiksha Limited and is expected to list its shares on National Stock Exchange/Bombay Stock Exchange (NSE/BSE) apart from MSE where the shares are currently listed. R Subramanian, the promoter of Subhiksha said, “this transaction will ensure that Subhiksha has access to capital and will continue to be on the fast track of growth. It will also enhance value for our stakeholders and help us achieve our objective of becoming a US$ five billion company.” […]

June 29th, 2008