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Investors from the US and European countries are keen to invest around Rs 2,000 crore to promote and equip small and medium enterprises engaged in green business, according to New Ventures India (NVI). NVI, set up by the Confederation of Indian Industry (CII) in association with the World Resources Institute, Washington, acts as a facilitator between the Indian SMEs and foreign investors, who support SMEs operating in environmental or green sectors such as advance technologies for water management, agriculture/organic products, clean technologies, ecotourism, renewable energy, green building materials, among others. […]
Several private equity (PE) players, global and domestic, whose lock-in period in real estate investments are to end soon, are pressurising developers for an exit route. While some PE players are asking developers to go for an IPO at an SPV or a portfolio level, developers who are wary about going public are approaching other investors or even buying back stakes themselves. Biren Parekh, Partner, (Real Estate), Ernst & Young, said, “Some developers delayed projects to get higher valuations in the booming market. Many PE players, especially at an SPV level, now want to exit and are asking developers for an exit route.” A fund manager with a US-based PE fund agreed, “While some developers delayed projects, time has been running out for us. Some clauses that formed the agreement allow us to persuade developers and ask them to give the returns agreed upon.” […]
Real estate major Sobha Developers is in talks with private equity players such as JP Morgan, Actis and IL&FS for selling stakes in some of its projects to raise much-needed fund for the development. The Bangalore-based firm is also planning a qualified institutional placement (QIP) to reduce debt burden by almost Rs 800 crore this fiscal, said sources. The capital raised through QIP is aimed at paying off its debt while roping in financial investors at special purpose vehicle (SPV) level is about kick-starting certain projects with near-term development horizon. Sobha Developers carries a debt of Rs 1,850 crore and the promoters, who hold a 87% stake, may be open to diluting their holding by 26% to raise cash. Sobha is looking to raise up to Rs 1,500 crore via the QIP route in the coming weeks. The exact quantum of the mop-up would be announced soon. […]
Indian state-run power generator NTPC said on Monday it was buying a 44.6 percent stake in Transformers and Electricals Kerala Ltd from the Kerala state government. The country's largest power producer said the stake was valued at 313.4 million rupees ($6.4 million), although the final price was subject to valuation of assets as at end March 2009. Transformers and Electricals Kerala makes and repairs heavy duty transformers. (Forbes) […]
LIC will divest its stake in UTI Asset Management Company (UTI AMC) along with other shareholders in the company. “UTI AMC has decided to rope in a strategic partner. The deal is yet to be frozen, and has not come to a critical stage. But all the four partners will take the same decision. We will be acting in unison. We will offload stake in equal proportion,” said Vijayan. […]
Calamander Group Pte, a Singapore- based investment company, will create the first private equity fund focused on Sri Lanka, betting the nation’s economy will prosper after the end of three decades of civil war. Calamander plans to invest between $50 million and $75 million in the island nation’s rubber, tea, timber, coconut, bank and ceramics businesses in the next 18 months, Managing Director Roman Scott said in a telephone interview on June 19. The fund aims to earn a return of as much as 35 percent, he said. “It’s not a big fund by world standards but for Sri Lanka you can actually do a lot of damage with that kind of money,” Scott said. “There’s a huge opportunity to do a lot.” […]
Prominent investor C Sivasankaran has re-entered the fledgling Indian telecom industry by acquiring a 51% stake in Chennai-based telecom firm S Tel, three-and-a-half years after it pulled out of Aircel. The deal size is estimated to be around Rs 1,150 crore, said a person close to the development. Sivasankaran’s investment arm Sterling Infotech Group (SIG) has bought the stake in S Tel, that has licences to operate in several northern and eastern states, from two private equity firms — Skycity Foundations and Telecom Investments. S Saravana, Mr Sivasankaran’s 22 year old son, has joined the S Tel board, post the transaction. ET on May 2 reported that Siva was looking for a presence in India’s telecom space and was in talks to acquire a majority stake in S Tel. […]
Mahindra Holidays and Resorts India (MHRIL)has priced its initial public offering (IPO) at a price band of Rs 275-325, nearly 32 per cent discount to the price at which it sold over 3 per cent stake to State Bank of India (SBI) and Nylim Jacob Ballas India Fund last year. In a pre-IPO stake sale during January 2008, MHRIL sold 2.11 per cent stake to SBI and 1.05 per cent stake to Jacob Ballas at Rs 478 per share. It raised Rs 120 crore through the transaction, which valued the company around Rs 4,000 crore. Post IPO stakes of these two investors will go down marginally to 1.96 per cent and 0.98 per cent, respectively. […]
Indian venture capitalists and private equities are expected to invest over $8.5 billion (about Rs 42,000 crore) in the next five years in sectors like biotechnology, life sciences, film production and education, an Assocham-Deloitte study said on Monday. As regulatory regime in these sectors are being gradually streamlined, Indian venture capitalists (VCs) and private equities (PEs) will have an added incentive to invest in these upcoming sectors, the study said. India has large opportunities in biotechnology and life sciences on lines of retail and real estate. The life sciences sector in India has been attracting specialists venture capitalists from global and local funds, it said. […]
Direct-to-home (DTH) television service provider Big TV Ltd, a unit of the Reliance-Anil Dhirubhai Ambani Group, is setting out on a content acquisition spree to win an edge over rival such as Dish TV India Ltd, Tata Sky Ltd, Airtel DTH and Sun Direct DTH Service.Big TV is looking to sell a minority stake and Behl confirmed that it is in talks with global DTH service providers and also a few private equity funds. Foreign Investment Promotion Board norms permit upto 49% foreign equity in the DTH sector. Foreign Investment Promotion Board norms permit upto 49% foreign equity in the DTH sector. Big TV plans to sell a stake of up to 49% to foreign private equity companies and global DTH service providers, the Business Standard reported in April, citing investment banking officials it didn’t name as saying the company expects to raise about Rs8,000 crore. […]
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