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Indian exhibitor PVR Cinemas is set to receive a $19.3m cash injection after selling a 10% stake to L Capital Asia, a private equity fund backed by French luxury goods manufacturer Louis Vuitton Moet Hennessy (LVMH). PVR and L Capital are also setting up a joint venture to invest in companies operating entertainment, gaming, food and other leisure facilities in shopping malls. L Capital will invest $9m in the joint venture and PVR is contributing Blu-O Entertainment, its bowling alley […] Private equity giant Carlyle Group has acquired about 10% stake in Infotech Enterprises in a booster deal for India’s mid-tier IT services story. Carlyle picked up shares through stock exchange transactions on Wednesday, joining another private equity investor General Atlantic Partners, which holds 12.39% stake in Infotech Enterprises. The two investors together control a stake almost equal to 22.82% promoter holding, setting stage for an interesting private equity play in the technology services company with $330 million revenue. […] Blackstone Group is set to acquire 36% ownership in the tenanted office space portfolio of southern developer Embassy Property Developments for about $230 million (Rs 1,300 crore), said bankers close to the transaction. This will be Blackstone’s biggest real estate deal in India, giving it part ownership of more than 12 million sqft office towers housing prominent technology names that drive the outsourcing economy. Embassy, one of the top business park builders in the country, is demerging the FDI […] Karaikal Port Pvt. Ltd., a unit of Indian infrastructure company Marg Ltd., said Wednesday Standard Chartered Private Equity (Mauritius) II Ltd. has bought a minority stake in the company for 1.3 billion rupees ($23 million). A part of the funds will be used to expand the Marg Karaikal Port capacity to 28 million metric tons a year from 21 million tons, Karaikal Port said in a press release. The all-weather, deep-water, multi-commodity port is located between Chennai and Tuticorin ports […] Baring India Private Equity has picked up 5.94% stake in gold finance company Manappuram Finance for an estimated Rs 136 crore. The private equity firm bought about 5 crore shares of Manappuram Finance from the open market, the gold finance company informed the BSE. Shares of the Manappuram Finance today closed at Rs 27.15, up 10.37% on the BSE. At today’s closing price, Baring India picked up stake in Manappuram Finance for about Rs 136 crore. Meanwhile, rating agency Brickwork […] Anil Ambani Group company Reliance Capital is backing a merger deal between Grover Vineyards and smaller rival Valle de Vin to create India’s second largest wine company. The financial services company will join Singapore-based wine investor Ravi Viswanathan as a key stakeholder in the combined entity, Grover Zampa Wines. The merger creates a new challenger to industry leader Sula Vineyards in the still nascent domestic wine market swelling over 1.5 million cases annually. Reliance Capital will have 18% stake […] Kaizen Management Advisors Private Limited, an education focussed Private Equity fund has invested Rs 20 crore in Your Kids ‘R’ Our Kids (India) Private Limited (YKROK). YKROK is a pre-school providing child care services also. It has more than 1,500 kids across 15 self-managed centers across India. These centers are in partnership with 50 corporates. All the centers are either near corporate campuses or on campuses of corporate sponsored child care programs. “Corporates are increasingly using day care services as […] Private equity (PE) players, who burnt their fingers following big-ticket deals in India’s power sector, are now showing interest in less risky road projects. Morgan Stanley Infrastructure Partners, a $4-billion global infrastructure fund, is in early discussions with infrastructure company Lanco Infratech to buy its 401 km of highway projects, in various stages of construction, which are up for sale. A few other infra-focused PE firms are also engaged in due diligence for Lanco’s road assets. The valuation was in […] Insecticides (India) Ltd, or IIL, on Monday said it is in talks with private equity investors to raise Rs. 70-100 crore this year for its expansion, by diluting 7-8% of the promoter stake in the company. The Delhi-based pesticide maker has lined up investment plans worth Rs. 125 crore for the next two years for augmenting capacity and launching products. “So far we expanded our business using internal accruals and bank debt, but now we thought it is prudent to […] Warburg Pincus LLC has agreed to buy a controlling stake in Future Capital Holdings for nearly $100 million, helping the U.S. private equity firm to expand its presence in India’s financial services sector. Future Capital, which provides consumer and mortgage loans, said in a statement Warburg would initially buy a 53.7 percent holding from group company Pantaloon Retail. The deal at 162 rupees per share, or 18 percent premium to Future’s Friday’s closing price, would cost Cloverdell Investment, an affiliate […] |