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Providence Equity Partners a leading global private equity firm specializing in equity investments in media, entertainment, communications and information services companies around the world has invested around Rs. 260 crore in a mix of primary and secondary investment in UFO Moviez India Limited. UFO is the world’s largest satellite based Digital Cinema Service with close to 2,500 installations across India and is the only Company in the world delivering MPEG – 4 High Definition content for Digital Cinema via satellite. It has revolutionized the way films are distributed and exhibited through its technology, infrastructure and unique pay per show business model, bringing in a 'First Day First Show' regime for film distributors and cinema owners. Said Bis Subramanian – Managing Director, Providence Equity Advisors India Private Ltd. “Providence is delighted to partner with UFO Moviez, which is an innovative player in the film distribution and exhibition space in India. This is an exciting opportunity as the Company has pioneered a highly cost effective satellite based High Definition Digital Cinema system for delivering movies and other live content and is making a significant impact in the industry. […]
iProf Learning Solutions India, offering personal education tablet and chain of Wi-Fi-enabled e-learning centres, has announced it has secured R22 crore in series A funding from Norwest Venture Partners (NVP) and IDG Ventures India (IDGVI). The capital will be used to fuel expansion of iProf’s e-learning centres (iProf iStudy Zones) in metros and tier II and III cities throughout India and abroad. Besides, it will also launch a large number of new iProf products with partnerships with professors. […]
Yatra Online Private Limited (‘Yatra.com’), India’s leading online travel company, today announced receiving funding of Rs 200 crores from blue chip investors including Valiant Capital Management, Norwest Venture Partners (NVP) and Intel Capital. The investment will help accelerate Yatra.com’s growth plans by enabling the company to increase sales and marketing activities, expand its hotels and holidays business and selectively pursue strategic acquisitions. Based in Gurgaon, India, Yatra.com is a one-stop-shop for all travel-related services. A leading consolidator of travel products, Yatra.com provides reservation facility for more than 3,800 hotels across 336 cities in India and over 90,000 hotels around the world. Yatra.com partners with domestic and international airlines to offer flight-booking services at the best rates. […]
India Inc has favoured the country setting up a sovereign wealth fund to service the needs of fast growing economy, especially the infrastructure sector, says a survey. A majority of the respondents surveyed pegged the size of sovereign wealth fund (SWF) at USD 50 billion, the survey by industry body Assocham said, adding that the fund structure should be based on a public-private-partnership model. […]
ta Steel will sell its 51 per cent stake in group company Tata Refractories to Nippon Steel''s associate Krosaki Harima Corporation (KHC) for Rs 576.3 crore and induct the Japanese firm as a strategic partner “Under this arrangement, KHC will acquire 51 per cent equity stake out of Tata Steel''s current 77.46 per cent stake in Tata Refractories (TRL),” the leading Indian steelmaker said in a statement today. Both the companies have entered into definite agreements for the deal, it added. Tata Steel would continue to hold 26.46 per cent stake in the TRL — the largest domestic refractories manufacturer. […]
Mumbai-based ANI Technologies, which runs the 'book a cab' service Olacabs.com, has raised its first round of funding from Anupam Mittal and angel investor Rehan Yar Khan along with smaller investors, reports Techcircle.in. Anupam Mittal is online entrepreneur and the founder and Chairman, Managing Director of People Interactive, known for its flagship matrimony site Shaadi.com. Rehan Yar Khan is an angel investor and founder of Flora2000, an ecommerce site for flower retailing targeting global markets. Khan has also invested in Hyderabad-based MyZingo eCommerce Service, which runs BuyThePrice.com, an e-commerce site for consumer electronics and appliances. […]
Kishore Biyani’s Future Ventures India plans to raise its stake in women’s ethnic wear maker Biba Apparels and edutainment company Amar Chitra Katha, and is also seeking new opportunities to invest in the fast moving consumer goods and fashion sectors. Currently Future Ventures holds 17.3% stake in Biba, which will be upped to 28% soon, the company’s chief executive officer KK Rathi said. It also plans to increase its stake in Amar Chitra Katha to 26% from 13.7% presently, he said. Future Ventures is promoted by various Future Group companies. It has invested in several companies including Indus League Clothing, Biba Apparel, AND Designs and Global Desi in fashion; Capital Foods and Future Consumer Enterprises in food and FMCG and Aadhar Retailing in rural retail. […]
Tata Steel, the world’s seventh largest steel producer, on Thursday said it has agreed to sell 51% stake in its unit Tata Refractories (TRL) to Krosaki Harima Corp (KHC), valuing the company at Rs 1,130 crore. KHC is an associate company of Nippon Steel Corporation of Japan. Under this arrangement, KHC will acquire 51% equity stake out of Tata Steel's current 77.46% stake in TRL. The transaction is subject to approval of relevant regulatory authorities in India and Japan, Tata Steel said in a statement. Tata Steel will continue to hold 26.5 % in Tata Refractories. According to the steel major, this transaction will enable TRL to access the latest technology and diversify its product offering. It will also provide TRL an opportunity to easily access markets outside. On Wednesday, Tata Steel had said it signed a licensing agreement with mining major Rio Tinto for commercial development of environment-friendly direct iron smelting process, called HIsarna. […]
air Capital, a US-based private equity group, has emerged as the missing link connecting the foreign shareholders, who according to Reserve Bank of India, acted in concert to acquire over 16% stake in Tamilnad Mercantile Bank. Earlier this week, RBI rejected a 2007 sale of shares by NRI businessman Sivasankaran to foreign investors including, FI Investments, Cuna Group, Kamehemaha Investors and Swiss Reinvestors—all incorporated in Mauritius—through which the investors arranged by Corsair Capital invested, sources said. Although the sale represented over 16% stake in the bank, none of the investors individually bought more than 5% as RBI does not permit any investor or investors in concert to hold more than 5% stake in a bank. […]
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