Gayatri Energy Ventures owned by Gayatri Projects, raises INR 250 crore from IFCI (Industrial Finance Corporation of India) through issue of compulsory convertible debentures. The quantum of the stake that IFCI would pick post conversion is not yet disclosed, reports dealcurry.com. GEVPL announced that the fund will be used for bank rolling proposed investments in the energy domain. Since its inception in 1975, Gayatri Projects continues to put their part of efforts for the development of modern India. Starting as infrastructure to housing development now they are a company with an annual turnover of more than INR 1004 crore. […]

Venture capital (VC) firm IDG Ventures India has invested $5 mn (Rs 22.15 crore) in Mumbai-based banking software product company Agile Financial Technologies. The company offers 12 products in areas of banking, insurance, micro-finance and financial inclusion. It also offers IT services support functions for its software products. Speaking to TOI, T C Meenakshisundaram , MD of IDG, said that the company would use the funds for expansions, building new products and acquisitions . He expects the company to become a $10 million revenue company this year and touch $75 mn in 3-4 years. The company has a large focus on the Middle East and Africa (MEA) markets. They will now look to expand their markets in India, South East Asia, and Central and Eastern Europe. […]

Private equity fund Sabre Partners today said it will pick up stake worth Rs 50 crore in Super Religare Laboratories (SRL) as a pre-IPO placement. SRL has filed a draft red herring prospectus with market regulator Sebi in February this year for a public issue of up to 2.8 crore equity shares of face value Rs 10 each. It is yet to get a clearance from Sebi. “With this investment, Sabre Partners, through it's domestic and international 'Spring Healthcare' fund will invest an aggregate amount of Rs 50 crore into SRL,” Sabre Partners said in a statement. The company, however did not disclose the stake it would acquire in the diagnostics firm. […]