November 2011
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Slowdown forces PE to defer investment proposals in India

Private equity firms are deferring investment plans in India or bargaining for a bigger pie of the business citing global economic slowdown and growing uncertainty in domestic markets.

“A lot of investments which are at the term-sheet level have been deferred as investors are now reluctant to buy stake at such high valuations in this tough market,” said Bala Deshpande, senior managing director at US-based venture capital fund New Enterprise Associates (NEA). PE deals fell to an eight-month low of […]

November 27th, 2011

Everonn to seal largest PE deal in education

Carlyle, New York Life PE in talks to invest $100 million in parent, arms.

Everonn Education, India’s largest technology-enabled education firm, is getting ready to enroll more global marquee investors.

Two months after the Dubai-based Varkey Group came on board, global private equity majors — Carlyle Group and New York Life Capital Partners — are in advance talks with the company to pick up a stake, said two people following the development. Once completed, it could be the largest private […]

November 27th, 2011

Belgium-based PE firm picks up 25% in Arman Financial

Invests Rs 15 crore with a premium of about 100% over current share price.

Belgium-based private equity player Incofin has picked up about 25 per cent stake in Arman Financial Services Ltd, a micro finance institution (MFI) and non-banking finance company (NBFC) for a consideration of Rs 15 crore (approx. US $ 3 million).

The board of directors of Ahmedabad-based Arman has approved preferential share allotment to Incofin, which took the equity stake at Rs 56.95 per share, nearly 100 […]

November 27th, 2011

More PE deals in defence space likely to take off

Private equity (PE) players in India, facing intense competition to find the right deals, have set their eyes on a relatively new sector — defence & aerospace. These firms are keen to invest in unlisted private companies and expect possible expansion in defence budget, as well as increased participation from the private sector.

According to a recent report from Centrum Broking, Indian companies in the defence sector are poised for a sustained break out and address a $54-billion opportunity by […]

November 27th, 2011

Morgan Stanley PE faces Rs 200 cr loss

Troubled investments have claimed the second big victim in the Indian private equity space. On the heels of Lilliput, where marquee names like TPG and Bain Capital are stuck in a messy legal battle, Morgan Stanley Private Equity is staring at a Rs 200 crore loss.

Its first and only investment in India out of its Asia-dedicated fund has gone bad. Biotor Industries, a Mumbai-based biofuel company, in which Morgan Stanley had picked a significant minority (over 30 per cent) […]

November 27th, 2011

India PE, listed firms find mutual attraction

The marriage of convenience lets private equity funds deploy some of their $20 billion in uninvested capital in liquid holdings at increasingly attractive valuations in a country where buyouts are rare and companies go public early.

More such deals are on the way, with at least $750 million being raised by funds that target listed Indian equities.

“Unfortunately, Indian companies tend to go public much faster, much earlier in the stage of growth. So yes, India is more conducive in […]

November 27th, 2011