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Several non-resident Indian (NRI) businessmen in the Gulf have demanded that private investors must get a majority stake in a public limited company set up to develop and manage the proposed new international airport at Kannur in Kerala. Kerala Chief Minister V.S. Achuthanandan, also the Chairman of the company who presided over an investors’ meeting in Thiruvananthapuram recently, said their demand would be considered at the next meeting of the Board of Directors of the Kannur International Airport Limited (KIAL). Prominent NRIs who attended the meeting include Yousuffali M.A. of the UAE-based Emke group, P. Mohammed Ali of Galfar group, Oman, and C.K. Menon of the Doha-based Behzad group. Yousuffali and Ali are also Directors of the Cochin International Airport Limited (CIA) in which private individuals and institutions hold the majority stake. […]
Private equity (PE) deal activity in India continued its momentum in the April-June quarter of 2010 from the prior quarter, though the total deal value was lower. In the second quarter of calendar year 2010, India saw 57 PE deals at $1.5 billion. This is the second highest quarterly performance in the previous seven quarters. Although total PE deal size in 2Q2010 was 30 per cent lower compared with the prior quarter, it was 70 per cent higher compared with the average quarterly aggregate PE deals in 2009, says an Ernst & Young. Both 1Q2010 and 2Q2010 registered deals worth over $1 billion after a subdued 2009, during which no quarter crossed the $1 billion mark. Also, the aggregate deal value for the first six months of 2010 ($3.5 billion) is now almost equivalent to that of the whole of 2009 ($3.54 billion). […]
Bandhan Microfinance is looking for a private investor who can infuse Rs.100 crore into the company, a top company official said here Wednesday. The company is having talks with two-three foreign institutions. 'We are looking for a private investor. We are in talk with two-three international players. Hopefully, it will be finalised by December,' Chandra Shekhar Ghosh, founder and chief executive officer, told reporters, adding that Bandhan is expecting a Rs.100 crore infusion from the investor. At present, Small Industries Development Bank of India (SIDBI) is the only institutional investor in Bandhan. It picked up 11 percent stake for Rs.50 crore in 2009. […]
Pharmaceutical major Cipla today announced that its board has approved the acquisition of Meditab Specialities for an aggregate consideration of Rs 1.33 billion. Meditab has smallimid-sized formulation manufacturing facilities at multiple locations which are substantially manufacturing formulation products for the company. In addition to Pill control over Meditab`s aforesaid manufacturing facilities which would result in improvements in operational and cost efficiencies, […]
The Planning Commission today said that Rs 50,000-crore Infra Debt Fund for financing infrastructure projects will become operational by beginning of next fiscal. A panel constituted by the Commission to look into the changes required in the regulatory framework for facilitating the setting of the Infra Debt Fund (IDF) is expected to give its report by next week. “If everything goes well, the Infra Debt Fund would be reality by the beginning of the next fiscal,” Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters here. He said, “The committee headed by SBI Chairman O P Bhatt which is looking into the changes required in the regulatory framework for creating IDF would submit its report by next week.” […]
Real Estate company Lodha Developers has generated Rs 500 crore by selling a 10% stake in its project of constructing a 117 storey residential tower in Mumbai to HDFC Venture Funds. Abhisheck Lodha, MD of Lodha Developers said, “The deal shows the investor’s appetite for quality real estate projects in India”. HDFC, the home loan lender has promoted HDFC Venture Funds. Other investors in the project are GIC, Temasek and Abu Dhabi Investment Authority. The deal is the 2nd biggest private equity investment in India’s real estate sector and values the project at Rs 5,000 crore, two-and-a-half times its projected cost. […]
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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