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Private equity funds, which mostly invest in unlisted companies, are buying more shares in listed firms trading at attractive prices on the bourses. The downturn in stock markets in the past few months has brought down valuations of companies throwing up significant investment opportunities for PE firms to invest in listed enterprises, termed as PIPE deals. […] Rolta India Ltd on Monday said it has acquired ACLS Systems, FZC, a public system and emergency response software company, through a complete asset purchase. The acquisition includes purchasing the full portfolio of ACLS Systems’ software technology, including source code, design documentation, intellectual property rights and worldwide sales and marketing rights, Rolta said in a statement to the exchange. […] UK-based real estate fund Trinity Capital Plc sold its stake in Kapstone Constructions Pvt. Ltd, a subsidiary firm of Mumbai-based developer Keystone Realtors Pvt. Ltd, as part of a strategy to make profitable exits from investments in India. Trinity Capital has sold the 16% holding for about £12.6 million (around Rs.90 crore), the fund has said in a statement. This is Trinity Capital’s first exit this year. Keystone Realtors chairman and managing director Boman Irani said that the company has acquired the stake back from Trinity Capital, through a ‘buyback’. AIM-listed Trinity Capital had picked up the stake in Kapstone, which is developing a 127-acre integrated township in Thane, for £10.6 million in 2006. […] has signalled its determination to tighten its grip on the sector. Since January, PE firms have invested $200 million (around Rs. 890 crore today) in six NBFCs and more such deals are in the offing, said fund managers. Baring Private Equity Partners India Pvt. Ltd, which invested in Muthoot Finance Ltd last July, is scouting for more NBFCs in which it can invest. “We are still looking for other opportunities to invest in this sector,” said Munish Dayal, partner at Baring Private Equity Partners. He added that several NBFCs that received a first round of funding will need a fresh round of capital in the next two-three years. Dhanpal Jhaveri, partner and chief executive officer of PE fund Everstone Capital Management, also sees a huge opportunity in the sector. “Sophistication of the credit markets and financial inclusion strategies are two drivers for growing PE interest in NBFCs,” he said. […] Acclaimed director Priyadarshan Saturday said he is padding up to acquire a stake in the newly formed Indian Premier League (IPL) team Kochi Tuskers Kerala. “I am interested in this team and to that extend, we are having a business meeting to take forward our interest in acquiring stake in Kochi Tuskers. The first meeting is to take place in Mumbai on the 22nd of this month,” Priyadarshan told IANS Priyadarshan, who is in the city as the newly appointed chairman of the Kerala State Chalachitra Academy (Motion Picture Academy of the Kerala State), added: “It is basically my friends who are not in the film industry. Yes, we are serious in this, but then it depends on things like what is going to be the money involved and also the returns associated with it.” Cricket has been a passion for him since childhood, he says. […] India Infrastructure Development Fund (IIDF), an investment arm of UTI Asset Management Co. Ltd, is in advanced talks to purchase a minority stake in IOT Infrastructure and Energy Services Ltd, according to two persons with direct knowledge of the matter. IOT is a joint venture between Indian Oil Corp. Ltd and Germany’s Oiltanking GmbH, the second largest independent tank storage provider for petroleum products, chemicals and gases worldwide. “We are in talks to purchase around 7-8% stake in the company,” said one of the two persons cited above. He declined to reveal the exact investment amount as the deal is yet to be signed, but said it would be less than Rs.150 crore. IIDF declined to comment. […] Former McKinsey chief Rajat Gupta has bailed out of the controversial shareholding in Tamilnad Mercantile Bank (TMB) after offloading shares to European family office Liberties Strategic Services, said people directly familiar with the matter. Gupta no longer holds 4.9% stake, which he held through an escrow account in Mauritius, and has exited the investment at a premium.It is not clear whether this stake sale will clear Gupta's name from investigations into purchase of C Sivasankaran's 33% TMB stake by a group of 18 investors—both foreign and domestic—four years ago. This share sale, like his stake buy in the country's oldest private sector bank, has no approval from Reserve Bank of India (RBI). […] Former McKinsey chief Rajat Gupta has bailed out of the controversial shareholding in Tamilnad Mercantile Bank (TMB) after offloading shares to European family office Liberties Strategic Services, said people directly familiar with the matter. Gupta no longer holds 4.9% stake, which he held through an escrow account in Mauritius, and has exited the investment at a premium.It is not clear whether this stake sale will clear Gupta's name from investigations into purchase of C Sivasankaran's 33% TMB stake by a group of 18 investors—both foreign and domestic—four years ago. This share sale, like his stake buy in the country's oldest private sector bank, has no approval from Reserve Bank of India (RBI). […] Auto parts maker Motherson Sumi Systems (MSSL) on Wednesday said it plans to acquire an 80% stake in Germany's Peguform Group from Cross Industries for an undisclosed amount. The world's largest producer of rear view mirrors for passenger cars is expected to close the deal in 2-3 months and will fund it through debt from Indian lenders, said VC Sehgal, vice-chairman, Motherson Group. […] Bharti Airtel Ltd has offered to list its Bharti Hexacom unit, which offers mobile services in six northeastern states (excluding Assam) and Rajasthan, to provide an exit option to its minority joint venture partner, the state owned Telecom Consultants of India Ltd (TCIL), Economic Times reported on Friday, citing telecom department officials. Telecom Consultants of India has a 30% stake in Bharti Hexacom and has been seeking to sell its shares for the last couple of years, the newspaper said. […] |