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Aditya Birla Private Equity Fund, which is looking to raise Rs 1,250 crore, has finalised some investments, including 0.5 per cent in the country’s oldest exchange, the Bombay Stock Exchange, said sources close to the development. The sources said the fund is likely to pay Rs 21 crore for the 0.5 per cent in BSE, thereby valuing the exchange at Rs 4,200 crore ($0.9 billion). When asked, the BSE spokesperson declined to comment. According to analysts, BSE’s rival and the market leader, National Stock Exchange, has been valued at $2.5 billion. Financial Technologies-promoted MCX-SX, yet to start operations, has been valued at $1 bn, based on its sale of stake to IFCI. […]
Some of the world’s largest buyout firms that made a beeline for India a few years ago now say they may have misjudged the market. Firms such as KKR and Co. Lp and Carlyle Group Ltd say the world’s third fastest growing economy has more companies that need growth capital than those ready for buyouts. In other words, these global private equity (PE) firms with large funds and specializing in taking over companies are wary of acquiring controlling stakes in Indian firms in the current environment. They would rather make growth-stage investments like smaller private equity firms do, typically in the $10-35 million (Rs46-161 crore) bracket. […]
New Delhi Television Ltd (NDTV) said in an announcement to the Bombay Stock Exchange that it would buy back the 26% stake NBC Universal Inc. holds in its non-news subsidiary NDTV Networks Plc that runs several channels, including entertainment channel NDTV Imagine. The firm didn’t spell out the financial aspect of the deal. Late on Tuesday evening, website contentSutra.com reported, citing a person familiar with the development, that NDTV is in talks with Time Warner Inc. and Malaysia’s Astro All Asia Networks Plc to replace NBC. NDTV declined comment for the contentSutra story, which couldn’t independently be verified by Mint. NDTV is buying the stake through its arm NDTV Networks BV. In May 2008, NBC had acquired the 26% stake in NDTV Networks for $150 million (Rs689 crore today). […]
Private equity (PE) and venture capital (VC) funds in India have tightened their purse strings. That’s because limited partners (LPs) – the main source of funding for venture capitalists — are reducing their exposure in this space. As per industry estimates, there has been a drop in new investments to the tune of 71% during the first nine months of 2009 as compared to the same period last year. Industry observers say limited partners are miffed with the returns shown by the general partners, who manage the fund and its operations on a daily basis, say industry observers. “Clearly, many LPs are looking at better returns and shorter investment term cycles,” says Sameer Mehta of Atlas Advisory. […]
Quippo Telecom Infrastructure Ltd. is looking to raise around $300 million through a stake sale to pay off its debt, the unlisted Indian telecom tower company's managing director said Wednesday. “We are looking to sell less than a 10% stake. It will most probably be a fresh issue (of shares) to private-equity companies,” Sunil Kanoria, who is also the company's vice chairman, told Dow Jones Newswires. The company holds a 49% stake in Wireless TT Info-Services Ltd., or WTTIL, which was earlier named Wireless Tata Telecom Infrastructure Ltd. Wireless Tata Telecom Infrastructure was formed via a merger of the telecom tower operations of Tata Teleservices Ltd. and Quippo in January. […]
Private Equity deals slowed to a four-year low of $644MM in Q3 Sep’09. (Year to date(Jan-Sep’09),113 private equity deals with $2,186MM were closed ) The quarter was the worst quarter in terms of deal value as total transactions size declined to $644MM compared to $793MM and 749MM in Q2 and Q1. […]
Apalya Technologies, a Hyderabad based company providing India’s No.1 Mobile Video platform, announced funding of US$ 3 million from IDG Ventures India and Qualcomm Ventures. Consort Capital, a premier Mumbai-based investment bank, was the advisor for the deal. Mumbai Angels, a leading angel investment group, along with some other angel investors, are also stakeholders in the Company. Apalya Technologies has pioneered and emerged as a leader in developing and enabling Mobile Video Delivery Platform that seamlessly streams video content to Mobile Consumers. It aggregates premium entertainment content from many different content providers, content aggregators and mobile advertisers and then delivers the same on Mobiles optimizing the content to be suitable for viewing on small-screens. […]
United Spirits, is set to sell new shares worth about $300-350 million to institutions to help cut its debt, after efforts to sell a stake to private equity firms and Diageo failed. The world's third-largest spirits maker by volume is set to place the shares with institutions (QIPs) as early as this week, three sources with direct knowledge of the deal said. “The market is good enough for a share sale. Why opt for a PE firm that buys at the same price and adds little value otherwise,” one source said. The sources declined to be named as they are not authorised to speak to the media. […]
Reliance Capital Ltd. may sell a 20%-26% stake in its life insurance unit – Reliance Life Insurance Co. – in the fourth quarter of the current fiscal year, its chief executive said Wednesday. “It (sale) could be to a strategic or financial partner … most likely it will be foreign company,” Sam Ghosh told Dow Jones Newswires over the phone. […]
The domestic and international private equity players see India as the second most attractive destination after China and feel that the country may lead the global PE recovery, according a survey. As many as 33 per cent of investors, who participated in the survey, ranked China as the most attractive market, followed by India (29 per cent), other emerging markets (19 per cent) and developed markets (20 per cent). “India offers immense opportunities for PE investments and India will likely be at the forefront of a global PE recovery,” said a survey by research firm KPMG. […]
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