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The stake is likely to fetch the country’s second-largest asset management company around $300 million (Rs 1,511 crore, at 50.37 against the dollar), valuing the business at a $1.2 billion (Rs 6,044 crore). In December, the average assets under management (AUM) stood at Rs 84,299 crore (about $17 billion). The valuation of the company is 7.11 per cent of total assets. R-Cap officials declined to comment on the issue. This would be the second stake sale in the company. In […] Karaikal Port Private Limited, a subsidiary of Chennai-headquartered Marg Limited, is close to roping in third major private equity player. According to investment bankers close to Marg, Jacob Ballas Capital, a major private equity fund, which is investing from its third fund of $440 million, is understood to be one of the funds which is looking closely at the project. Marg Karaikal Port has so far raised around Rs 350 crore from IDFC Project Equity and Ascent Capital. MARG Karaikal […] India’s largest diversified media conglomerate Bennett, Coleman and Co Ltd (BCCL), popularly known as the Times Group, has joined the race to pick up a majority stake in the two sports channels of Nimbus Communications. The two channels — Neo Cricket and Neo Sports — are housed under Neo Sports Broadcast Ltd, a subsidiary of Nimbus. Even though Nimbus is the principal shareholder in the entity, it has some other financial institutions and investors like PE giant 3i as well. […] New Silk Route Partners, an Asia-focused private equity fund, said on Tuesday it picked a significant minority stake in educational support services provider Varsity Education Management Pvt Ltd for an undisclosed sum. The Hyderabad-based Varsity Education provides operational and support services to educational institutes across Karnataka, Andhra Pradesh, Maharashtra and Tamil Nadu states of India, the fund said in a statement. “Education is another great sector, if you are an investor and intending to capture India’s growing consumer story,” said […] Magnetar Venture Pvt Ltd plans to launch a $100 million fund focused on clean technologies by March to funnel growth capital into budding enterprises, a senior official at the venture fund told Reuters. The fund is registered with regulator Securities and Exchange Board of India (SEBI) and plans to raise $20 million in its first phase, said Reji Kumar Pillai, general partner of Magnetar Venture. Magnetar hopes to rope in state-run firms working in the field or their units as […] |