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Raman Roy-led Quatrro BPO Solutions is planning to raise $100-150 million from private equity firms to fund acquisitions. The company is particularly looking at a large buy, in the range of $200-300 million. “This is the right time to raise money. There are some very exciting assets available at reasonable prices. We don’t think debt is a viable option at this point. So, our acquisitions will be funded through equity stake sales,” said Quatrro MD Raman Roy. He refused to specify the quantum of funding. Quatrro is a business process outsourcing (BPO) firm that provides finance and accounting services, legal solutions, mortgage solutions, risk management and business support services. […]
Industrial Development Bank of India (IDBI) is learnt to be in talks with GE Commercial Finance (GE), the financial arm of GE, to pick up around 25% stake in the latter’s construction equipment finance business in India. Infrastructure Development Finance Company (IDFC) will also hold around 35% stake in it. Sources close to the development confirmed the move and said GE is all set to hive off its construction equipment finance business into a separate Rs 650-800 crore joint venture company and is in talks with IDFC and IDBI for the same. When contacted, the GE spokesperson said: “We treat our business and customer discussions with high confidentiality and are unable to disclose any details.” An IDBI senior official did not respond to an e-mail ET sent addressing the query. […]
Rajasthan Venture Capital Fund (RVCF) on Thursday said it has raised Rs 75 crore for investment in technology focussed firms in the country and Rajasthan and the National Capital Region in particular. The fund, an arm of Rajasthan Assest Management Company and the only one in the northern state, also has the option of raising another Rs 25 crore to take the corpus to Rs 100 crore. RAMC CEO Girish Gupta said: “The fund is in touch with few foreign institutional investors and domestic institutional and private sector investors to achieve the final closure early.” He said that the new fund would undertake individual investment in the range of Rs one crore to Rs 25 crore. “The fund will provide both start-up and growth capital to companies with focus on IT/ITES, auto, biotech and other technology oriented industries,” Gupta said. […]
United Spirits (USL) the flagship company of Vijay Mallya has entered into exclusive talks with the world`s largest drinks company, Diageo, for a partnership including a minority stake sale, reports Economic Times. It is learnt that a top Diageo`s team arrived in Mumbai for talks with Mallya and the United Spirits honchos. Diageo could buy 14.99% stake initially and enter the USL board with two representations, besides a distribution partnership in the Indian market. […]
Japan’s largest mobile operator, NTT DoCoMo, has announced the acquisition of a 26% stake in Tata Teleservices (TTSL), the Tata group’s telecom arm, which offers CDMA-based services, for $2.7 billion (around Rs 12,770 crore). This marks the Japanese giant’s entry into the world’s fastest-growing telecom market, which has over three times Japan’s subscribers. ET had first reported the possibility of a deal between the two companies in its September 10 edition. The transaction is part of a strategic alliance between DoCoMo and the Tatas, the two companies said on Friday. DoCoMo will also make a joint open offer with Tata Sons to acquire up to 20% of outstanding equity shares of Tata Teleservices Maharashtra (TTML), TTSL’s listed subsidiary. […]
Early stage venture capital firm Accel India Venture Fund has closed its second fund of $60 million (Rs292 crore) against its previous fund of $10 million. It is the first new venture fund announced since the market collapse two months ago. The Bangalore-based firm, earlier known as Erasmic Venture Fund was acquired by Palo Alto, California-headquartered Accel Partners in July this year. “The bar was high, but people are convinced that in the long run, they have to be in India,” says Prashanth Prakash, partner, Accel India. A majority of backers for its new fund come from Accel’s global network of limited partners (institutions that back equity funds) in the US, Europe and Asia. They are mostly institutional investors, unlike its previous fund which had several individual angel investors as LPs. Internet search firm Google Inc., which had backed the first fund is not a repeat investor this time. […]
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