May 2012
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Apollo, ICICI Raising $350M Fund

U.S. private equity firm Apollo Global Management and ICICI Venture, the private equity arm of No.2 Indian lender ICICI Bank, are close to raising $350 million to invest in distressed assets in India, two sources with direct knowledge of the matter told Reuters. Few funds in India specialize exclusively in distressed assets, but a sharp slowdown in economic growth is expected to create opportunities to invest in struggling companies. U.S. private equity firm Apollo Global Management LLC (APO.N) and ICICI […]

May 29th, 2012

JSPL buys stake in Gujarat NRE Oz arm

Jindal Steel and Power will acquire a little over 10 per cent stake in Gujarat NRE Coal’s Australian subsidiary, Gujarat NRE Coking Coal Ltd, for AUD 25 million (about Rs 135 crore). Besides, JSPL will also buy 5 million tonnes of coking coal over a 10-year period from the Australian subsidiary of the Kolkata-based firm, Gujarat NRE said in a filing to the BSE. “Gujarat NRE Coking Coal Ltd is pleased to announce that it has entered into an Option […]

May 29th, 2012

Blackstone, Carlyle call off Reliance Communications deal

According to reports, private equity firms Blackstone and Carlyle have pulled out of their proposed deal with Reliance Communications. If finalized, they would have owned a majority stake in the telecom service provider’s telecom tower unit. Mr Anil Ambani’s Reliance Communications has long been looking for prospective buyers. Blackstone and Carlyle were reportedly on the final stages of buying a 95% stake in Reliance Infratel tower unit. The company is severely cash-strapped, and saddled with a debt equaling almost $7 […]

May 29th, 2012

Warburg leads $32 mn Quickr investment

US private equity firm Warburg Pincus along with existing investors have pumped $32 million in fresh funds into India n online classifieds firm Quickr, the e-commerce company said on Tuesday. Quickr, which aims to use the cash to expand across online and mobile platforms, said existing investors that participated in this round include online retail giant eBay Inc, private equity Matrix Partners India and global venture capital firm Norwest Venture Partners. Rising incomes and aspirations to own big brands at […]

May 29th, 2012

PE, VC, realty, hedge funds in Sebi ambit

Aiming to bring unregulated and lightly regulated investment funds like hedge funds and private equity-venture capital funds under its ambit, Sebi on Monday came out with a comprehensive framework called Alternative Investment Funds (AIFs) Regulations. Market players feel that regulating hedge funds and investment vehicles that trade with short-term objectives is a step in the right direction. But VC industry veterans feel the steps could make capital raising by Indian-origin funds difficult.

“AIFs Regulations endeavour to extend the perimeter […]

May 29th, 2012