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Hoping to cash in on infrastructure development in the country, large private equity firms are making a beeline for the sector. The road sector, especially, has been increasingly attracting the attention of private equity players, as infrastructure in general and roads in particular feature on the government’s immediate execution agenda. The 11th Plan has set a $500-billion target for infrastructure spending and this is expected to increase to $1 trillion in the 12th Plan. Norwest Venture Partners and The Xander Group Inc last week invested about Rs 400 crore in Sadbhav infrastructure, an EPC player in the infrastructure sector involved in the development of highways and road projects. According to the reports, Nandi Infrastructure Corridor Enterprises (NICE), which is developing the 164-km toll way between Bangalore and Mysore, is currently in talks with PE players to raise around $100 million. In a recent deal, private equity major Actis in April 2010 formed a $200 million joint venture with Tata Realty & Infrastructure to develop roads and highways. India Venture Advisors in May 2010 also invested Rs 50 crore in C&C Constructions, a player in roads and highways. […]
Delhi-based private security services firm Security & Intelligence Services (SIS) plans to raise $100 million through a sale of shares to a private equity firm partly to fund its expansion and retire high-cost debt, said a top company executive. Founded by first-generation entrepreneur Ravindra Kishore Sinha in 1974, SIS is one of the largest manpower security firms in the Asia-Pacific region with revenues of around `1,500 crore. The promoters hold 86% stake in the company and the rest is owned by the global hedge fund DE Shaw. While DE Shaw is likely to part exit, the rest of the stake sale will be through issue of fresh shares that will bring down promoters’ holding to 75%. The funds will be used for both organic and inorganic growth plans and to deleverage balance sheet, said Rituraj Sinha chief operating officer of SIS. “We intend to consolidate our position in the market before going public,” he said. The fund raising exercise is expected to be complete before December. […]
Gensol Consultants Pvt. Ltd., one of the leading carbon consultancies in India has successfully raised capital for 15-20% stake to a US based venture capital firm, India Venture Partnership Ltd., managed by India Venture Partnership Management, a Mauritius GBL1 company, with the deal being of an enterprise value within the range of $4-$6 million. Expressing his delight on this transaction Mr. Anmol Jaggi, Director, Gensol Consultants Pvt. Ltd stated, “There is a landscape of opportunities for carbon advisory firms with the topical issues of global warming and climate change experiencing heightened focus by both public and private domain. The post-2012 market is also expected to gain momentum with an augmented demand and supply of carbon credits and number of new emerging schemes being introduced by various developing countries in order to meet their targets. […]
Muthoot Finance (MFIN), on Monday, announced that it has raised Rs 43 crore in the second round of institutional funding from Kotak India Private Equity Fund (KIPEF) for a minority stake in the company. This capital infusion will strengthen the company’s capital base, it said in a release here. During the first round of institutional funding, Muthoot raised Rs 157 crore from two leading PE namely Baring Private Equity Partners India and Matrix Partners India for a four per cent stake. Currently, MFIL has a gross loan book exceeding Rs 10,000 crore and more than 1,800 branches across the country. […]
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