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The economic slump may have slowed down the overall private equity investments scenario, but relatively more PE deals are being struck in the emerging businesses space. In the third quarter, including mergers & acquisitions, private equity and venture capital deals were on a decline. However, over 40% of the total deals happened in the emerging companies (SMEs and midcaps). The percentage of the same was only 25% in the last quarter. Interestingly, of the total 12 PE deals in October, six (50%) can be categorised as emerging companies. According to figures obtained from Grant Thornton, the announced value of all the 12 deals stood at $372 million. […]
Start-up health care and drug technology firms are struggling to attract funding as venture capital and private equity firms shy away from high-risk projects with long gestation periods in the wake of the global economic downturn. The early exits in June of Citigroup Venture Capital International and ICICI Venture Funds Management Co. Ltd from Perlecan Pharma Pvt. Ltd, the drug discovery and development company of Dr Reddy’s Laboratories Ltd, due to risk apprehensions were just the beginning, industry experts say. In October, Piramal Life Sciences Ltd, the newly constituted drug research firm of Piramal Healthcare Ltd, had to put on hold its plan to raise funds from private equity firms as it could not attract investments at the valuation it had anticipated. […]
Private equity (PE) investments in India have declined by 72 per cent to $9.67 billion till October, largely due to global financial turmoil. The total number of PE deals during the first 10 months of 2008 stands at 274, with an announced value of $9.67 billion as against 328 deals amounting to $13.43 billion during the corresponding period in 2007, global consulting major Grant Thornton said. “Private equity investments in India are showing some amount of slowdown, considering that a considerable amount of investments have been coming from international funds, which are in turn funded by international banks or investment banks,” Specialist Advisory Services Partner CG Srividya said. […]
Temasek Holdings, the investment arm of Singapore government, which has 9.9 per cent stake in Tata Teleservices, today said it is looking at all options, including exiting the telecom company in the wake of Japanese firm NTT Do Como picking up 26 per cent stake in the firm. “As of now, we remain an investor and we are always looking at all options. When the option is available we will look at it,” Temasek Holdings India Senior Managing Director Manish Kejriwal told reporters here on the sidelines of India Economic Summit here. He was responding to query if the Singaporean company is looking to exit from TTSL with the entering of a new shareholder NTT Do Como in the company. […]
Kingfisher Airlines is discussing with international carriers a possible sale of stake up to 25%, the Economic Times reported. The move follows the centre's proposal of policy change to allow foreign airlines to invest in domestic carriers with a cap of just below 26%. The discussions are reportedly with British Airways, Singapore Airlines and Virgin as the investment is expected to fetch a higher valuation compared with the Private Equity investors. There remains uncertainty on when the government would permit foreign airlines to hold equity in Indian companies. The civil aviation ministry met the airlines on October 30 to discuss key policy changes including allowing foreign airlines to pick up stake in domestic carriers. […]
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