|
Suzlon Energy, the world’s fifth largest turbine maker, on Saturday said it had completed the acquisition of Martifer Group’s stake in REpower Systems AG, which now takes Suzlon’s total shareholding in REpower to 90.72%. The acquisition was completed in a two-part payment plan that involved Martifer’s remaining 14.4% equity stake in REpower, Suzlon said, adding that the acquisition will now allow Suzlon to transfer REpower’s technology to its subsidiaries in emerging markets. […] Grainger has signed a definitive agreement to acquire full ownership of the Indian firm as the city-based company looks at expanding business in India. It would contribute an estimated $1.2 million to gain full ownership of the Indian joint venture. “As the Indian economy gets more competitive, companies there want efficient and reliable ways to get the quality products they need to keep their facilities running and their employees safe,” Grainger Chairman and Chief Executive Officer Jim Ryan said. With annual revenues of approximately $30 million, Asia Pacific would provide Grainger a starting position in a large, high potential MRO market, it added. […] Private equity (PE) and venture capital (VC) investors are looking to step up the pace of investments in the healthcare and lifesciences (HLS) sector. PE and VC players have invested over $2 billion into HLS companies in India over the past five years. ICICI Ventures, IFC (the PE arm of the World Bank),Kotak, Venture East and IL&FS are some of the big players who have been active in this space. In the recent past though, speciality PE firms have emerged to invest exclusively in this segment. Evolvence India LS, India Ventures and Sabre Capital’s Spring Healthcare fund are some PE funds in this category. […] Three venture capital (VC) funds, which had pumped in around $75 million into Nevis Networks, a provider of security for the enterprise local area network (LAN), filed for bankruptcy last week. While the VC funds have filed for bankruptcy, one India-based founder, Ajit Shelat, is seeking to revive the company, having arranged $2- million funding. Mr Shelat, a Pune-based serial entrepreneur who was India general manager of Nevis Networks and now CEO of the Indian and US companies, said the name of the US company has been changed and Nevis’ sole secured creditor has transferred the assets to the new company. The new company, Aviram Networks, will continue with the Nevis name and brand in India. […] Japan's Nomura Group is set to acquire 35 per cent in LIC Mutual Fund, India's seventh largest mutual fund, after the board of directors of Life Insurance Corporation (LIC) approved a proposal to induct the Japanese financial services major as a strategic partner in the mutual fund business, sources in the state-owned life insurer said. The insurance company has formed a four-member committee headed by LIC Chairman TS Vijayan to decide the valuation of LIC Mutual Fund. Exim Bank Chairman T C Venkat Subramanian and GIC Chairman Yogesh Lohiya are among the other members. […] Hong Kong-based, Asia-focussed private equity firm SAIF Partners, which has in the past invested in Indian companies such as Homeshop18, Makemytrip.com, Sify and Just Dial, will infuse Rs120 crore into Network18 Media and Investments Ltd, Raghav Bahl-promoted (pictured right) holding company of the Network18 Group, which has subsidiaries such as TV18 India Ltd and IBN18 Broadcast Ltd. In a press release to the Bombay Stock Exchange, Network18 said the company’s board today approved a preferential allotment of 92,02,650 equity shares at Rs130 per share. Shares of Network18 closed at Rs155.20, up 16.56% from its previous close of Rs133.15 on BSE. The Benchmark Sensex closed at 14,870, down 0.03% from its previous close. […] LIC Housing Finance, India’s second largest housing finance company, plans to raise capital by issuing 10 million shares through the qualified institutional placement (QIP) route. The issue is to be approved by the housing finance company’s (HFC) share holders in the annual general meeting (AGM) scheduled for 21 July. QIP is the private placement of equity shares–which can be converted into equity by a listed company–with qualified institutional buyers approved by the market regulator Securities and Exchange Board of India (Sebi). […] Global multi-stage investment fund Norwest Venture Partners (NVP) has bought 2.11 per cent equity stake in India’s premier bourse National Stock Exchange (NSE) for about Rs 250 crore, valuing the exchange at over Rs 12,000 crore (nearly $2.56 billion). NVP bought the stake from IL&FS Securities Services at Rs 2,650 per share, which is higher compared to Rs 2,450 per share from the previous transaction on NSE shares. The investment by NVP is being treated as foreign portfolio investment following a finance ministry notification in November 2008 that foreign institutional investors (FIIs) could hold up to 23 per of equity in an Indian exchange even if such an exchange is not listed. […] After being at the receiving end of investors’ wrath, the real estate sector is back on the radar of private equity (PE) investors. Real estate consultants say PE funds are now finding good investment opportunities in the sector. The high level of interest is quite clear in the recent wave of qualified institutional placements from real estate companies. According to Grant Thornton’s deal tracker, Orient Global, Sandstone Capital, HSBC and Och-Ziff Capital recently invested $325 million in Unitech. Standard Chartered Private Equity has pumped in an undisclosed sum in Man Infraconstruction. And TPG Capital and Fidelity have invested in the qualified institutional placement by Indiabulls. […] The BK Modi Group is all set to plunge into financial services. It has entered into a joint venture with Singapore based 3 Degrees Asset Management to start a special situations offshore private equity fund. CNBC TV-18's Sajeet Manghat and Sandeep Srikant report. The BK Modi Group is definitely spicing things up, this time in the world of financial services. Spice Finance, the group's newly-launched finance arm, has entered into a joint venture with Singapore-based 3 Degrees Asset Management to start an offshore special situations private equity fund, with a USD 150 million kitty. […] |