December 2011
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UTI Capital buys 4% stake in Indian Oiltanking for Rs 100 crore

UTI’s private equity arm, UTI Capital, has bought 4% stake in Indian Oiltanking, a joint venture between state-run Indian Oil Corporation and Germany’s Oiltanking GMBH, for Rs 100 crore. Indian Oiltanking, which builds operating terminals and storage facilities for petroleum products, will use the proceeds to fund its upcoming storage terminal in Paradip and for its overseas EPC projects, said Jayanta Bhuyan, managing director, Indian Oiltanking.

“We have been looking at raising funds from private equity players primarily to fund […]

December 20th, 2011

SAR Group buys 55% stake in Fly Mobiles’ business in India, Saarc regions

SAR Group, makers of Wynncom brand of mobile phones, has acquired a 55% stake in UK-based Fly Mobiles’ business in India and Saarc regions. Both Fly and Wynncom, with combined sales of about Rs300 crore annually, and selling nearly 2,00,000 units a month, will continue to be separate brands. SAR plans to become a Rs 1,200-crore brand by mid-decade.

SAR Group promoter Rakesh Malhotra confirmed the development and said that deal size along with additional investments over the next three […]

December 20th, 2011

Private equity funds step up logistics exposure

FDI in retail may be on the backburner for now, but private equity investors are ramping up investments in the logistics sector. The latest in the series of deals is a pact by New York-based private equity fund, India Equity Partners (IEP), to acquire the road operations of Dutch freight major TNT Express in India. While the deal value could not be ascertained, the road transportation business of TNT Express had a top line of Rs 200-220 crore. The segment […]

December 20th, 2011

Lack of meaningful exits remain big concern for PE funds in India, says KPMG

About a third of PE investments are currently losing money, but the evidence is publicly hidden by many fund managers’ decisions not to divest underperformers

India’s economic growth has propelled private equity (PE) investments in the country to $8.2 billion in 2010 from $470 million in 2003. Although the increase in deal volume and value indicates the attractiveness of India as a PE destination, the true measure of success of a PE investment is when the fund exits, makes […]

December 20th, 2011

PE firms may close India operations over economic uncertainty

Rising economic uncertainty will lead to several private equity (PE) firms closing their India operations in the coming months fear industry watchers.

“”Due to the imminent slowdown in the economy, arising out of uncertainty in the global markets, decline in factory output and the weakening of the rupee, several PE firms are finding the going tough and a few could even shut shop in the months to come,”” said Rahul Bhasin, managing partner at Baring Private Equity Partners.

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December 20th, 2011