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Delhi-based e-learning solutions provider Educomp Solutions plans to acquire StudyPlaces.com, which is owned by Zaptive Internet Services. Under the deal, Educomp will buy the domain name and other existing contracts of Zaptive and will allot equity shares on a preferential basis of up to $1.5 million in exchange. StudyPlaces helps students find, compare, evaluate and then select the right course, institute and country for their further study. In January 2008, StudyPlaces.com raised $3 million from venture capital firms Kleiner Perkins, Caufield and Byers (KPCB), Ram Shriram's Sherpalo Ventures and the internet company Info Edge India (the Naukri.com group), with each entity investing $1 million in the company. […]
BTS Investment Advisors, a Zurich-headquartered private equity firm that specialises in investments in India, is reportedly readying the launch of a new $150m fund. The firm BTS is looking to inaugurate the fund before April 2010, and aims to reach the $150m mark within a year. The fund will target companies in the wind, biomass, water and energy equipment fields in India. Additional funds managed by the firm include a $22m Swiss technology fund and a $75m India-targeted private equity fund. Notable investors in the firm’s funds include Asian and European governments and the Asian Development Bank. […]
mediate Capital Group (ICG) on Friday bought a 47% stake in legal process outsourcing firm CPA Global, a Channel Island-based firm with over half of its 1,500 employees working out of Gurgaon and Noida in the national capital terrirory. A privately held firm, CPA Global is one of the largest legal services outsourcers in the world with over a billion dollars in revenue . London-based ICG bought the stake in a deal reportedly valued at 440 million pound. Anand Sharma, CFO, Head of management services at India for CPA Global, told ET that the buyout will benefit India operations. “ICG has been a long-term investor , and legal services outsourcing being a core business driven out of India, will get a boost. We plan to increase our India headcount to 1,000 employees by July this year,” he said. […]
With the disinvestment of DPSC, an erstwhile subsidiary of Andrew Yule being complete, the SREI-led consortium, the new owner of the company with a 57.17 per cent stake, on Friday reconstituted the board. Orbis Power Ventures, the Special Purpose Vehicle floated by Srei to acquire DPSC, will now make an open offer for 20 per cent additional stake in DPSC on Saturday itself, Hemant Kanoria, Chairman-cum-Managing Director, Srei told Financial Chronicle. Kanoria said that they had paid the entire amount of Rs 171.85 crore to Andrew Yule, LIC and United India Insurance, who had offloaded their stakes in the company. LIC and United India Insurance hold 30.61 per cent and 11.36 per cent in DPSC, respectively, while Andrew Yule enjoys a 15.2 per cent stake. This coincided with the Supreme Court on Friday quashing and refusing to admit two pending cases: one by Descon, the largest shareholder in DPSC, and the other by the Trinamul Congress backed DPSC union in this regard. […]
Alok Industries, a Mumbai-based vertically integrated textile player, has roped in Asia Bridge as a private equity player for its retail subsidiary – Alok H&A. The deal size is of Rs 45 crore. Alok H&A is engaged in the cash and carry business of apparels and home textiles across the country with its 150 stores at present. The company has drawn up a massive expansion plan with a view to achieve a pan-India footprint and is eyeing 1,000 stores in the next three years. The company, by the end of the current financial year, will take the number of stores to 250. And in FY11, the textile major is aiming to add another 250. […]
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