March 2010
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Aditya Birla Retail to sell 10% to 15% stake to PE Firms

Retail chain store operator Aditya Birla Retail Ltd. is open to selling a 10% to 15% stake to private equity firms, its chief executive said Friday. “We have no objection to diluting (stake) provided we get the right valuation and the right partner,” Thomas Varghese told Dow Jones Newswires by phone. Varghese, however, clarified that there is no deal on the table at the moment. He added that a private equity deal with a foreign fund would only be possible after India relaxes its rules governing the retail sector. […]

March 5th, 2010

Warburg's Khanna to set up own PE fund

esh Khanna, former managing director of Warburg Pincus’ India operations, is set to join the breed of private equity (PE) veterans launching their own ventures, industry sources told DNA. Warburg’s India office confirmed the development, saying Dalip Pathak, managing director, who established the PE firm’s India business in 1994 and is currently leader of the firm’s European effort, will assume direct oversight of Warburg Pincus’ investment activities in India. “Rajesh Khanna will depart from the firm to pursue the formation of an independent investment business in India,” the official statement said. Unlike a few other separations in the past, Khanna’s departure has been a very amicable one, said the industry source. […]

March 5th, 2010

Rel Tech Ventures is now Rel Venture Asset Mgmt

The corporate venture capital arm of the Reliance ADA group, Reliance Technology Ventures on Wednesday re-branded itself as Reliance Venture Asset Management with immediate effect and said it expects to close three-six deals worth a cumulative investment of USD 50 million in the first half of this year. “We have revamped our strategy to exploit the investing potential in sectors such as clean technology, aerospace, defence, media and entertainment in addition to our mainstay of technology enabled companies. In line with this strategy, we are expected to close three-six deals in H1 2010 worth a cumulative investment of USD 50 million,” Reliance Venture Asset Management CEO Harshal J Shah said. […]

March 5th, 2010

Logistics bet big on PE investments in ‘10

While 2009 was a year of caution for most private equity investment firms, 2010 is looking optimistic especially for the logistics sector, which expects to seal many a deals this year.As 2009 ended with a big-ticket private equity investment of Blackstone putting $245 million in Gateway Rail Freight, Indian logistics industry left behind the cautious approach and braced 2010 with optimism. Industry expectations are high, to touch a target of 10-12 private equity deals and investments close to $400 million this year, like the buoyant year of 2008 as against only six deals of 2009. Revival in retail and manufacturing is expected to give a boost to sector specific logistics players. But the fragmented nature of the $10 billion Indian logistics industry, growing at 10 per cent and improving valuations of businesses, will make mergers and acquisitions also a game changer, especially in road and rail transportation. […]

March 5th, 2010