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Debt-laden apparel retailer Koutons Retail India Ltd has said non-banking financial services company IFCI Ltd raised its stake in the company by invoking the shares pledged by the company's founders. IFCI's stake in Koutons Retail has gone up to 10.24% from 5.89% earlier, the company said in a notice sent to the stock exchanges. Koutons Retail's founders and founder groups, who own 32% of the company, had pledged 98% of their shareholding to lenders as of Dec. 31, 2010, data from the stock exchanges showed. […]
Private equity firm Matrix Partners India today said it has invested Rs 50-crore as the sole investor in the first institutional round of funding of Maharana Infrastructure and Professional Services Private (MIPS). With the completion of this financing, Matrix India, Director, Amit Kapoor will join the board of MIPS, a press release issued here said. MIPS is one of the largest service providers to higher education institutes in North India. Currently, the group is running 20 courses with 10 campuses with more than 10,000 students. “MIPS has an innovative business model to address the needs of the country's fast growing education sector. […]
Debt-laden Kingfisher Airlines said on Thursday private lender ICICI Bank has acquired 28.26 million shares, or 5.68 percent stake, in the carrier on the conversion of compulsorily convertible preference shares. On March 31, the airline had issued 116.3 million shares, or 23.4 percent equity, to a consortium of 13 banks led by State Bank of India , to restructure part of its debt. Kingfisher also allotted shares to founder entities United Breweries (Holdings) and Kingfisher Finvest India. The airline has restructured its debt by converting almost 12 billion rupees of loans into equity and its current debt stands at about 60 billion rupees, Ravi Nedungadi, chief financial officer of UB Group, which controls Kingfisher, had told Reuters earlier this week. […]
Private equity (PE) firms’ investments in the country touched a whopping US$3.3 billion in January-March, 2011, with infrastructure and manufacturing companies garnering most interest. Private equity investments in January-March quarter of 2011 calendar year were about 57 per cent higher than US$2.1 billion worth of PE investment registered in the year ago period and more than double October-December’s US$1.5 billion, according to Venture Intelligence. […]
IDFC Private Equity is exiting from its investment in Bangalore-based cancer care player HealthCare Global (HCG) Enterprises. Two other HCG investors-PremjiInvest and Milestone Religare-are buying out IDFC's 20% stake, said to be worth around $30 million (Rs 138 crore). HCG was trying to get fresh investors. General Atlantic and India Value Fund were in the fray, but that effort got stuck over valuation issues. Currently, Milestone Religare, PremjiInvest and Evolvence are the three key investors in HCG. The investors will also make some fresh investments for hospital expansion through a rights issue soon. […]
DE Shaw, a global private equity (PE) and hedge fund company, is close to acquiring a 14.2 per cent stake in New Delhi Television (NDTV) for Rs 70 crore (Rs 700 million). It was in the headlines recently for its joint venture (JV) with Reliance Industries in the non-banking finance company space. According to sources close to the development, DE Shaw will acquire the stake through Merrill Lynch Capital Markets and Nomura Capital, in a series of bulk deals at Rs 76.55 per share. These shares are held by Goldman Sachs and GS Mace Holdings. […]
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