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TVS Capital and International Finance Corp, an arm of World Bank, have jointly invested 1.24 billion rupees ($24.81 million) in Indian rice processor, Dunar Foods. Dunar, which is based in the northern Indian state of Haryana, exports basmati rice to Middle East, Europe and the U.S., a statement issued by Dunar and TVS Capital said. IFC, along with U.S. private equity firm, Warburg Pincus, recently invested $50 million in a non-banking finance company, Au Financiers.. Source: Reuters The Indian Motorsports League (IML), which is close to sealing a $400mn fund deal from two US-based PE firms and a Middle East-based sports fund, is also in the process of teaming up with a production house in Europe for broadcast rights in India. IML will use the funds to set up a race campus, car manufacturing facilities and race tracks. “Once the funds are secured, we will showcase the cars and start the races,” said Raj Kashyap, managing partner […] Multi-brand car service chain Carnation Auto, promoted by former Maruti Suzuki India chief Jagdish Khattar has secured a fresh equity investment of 85 crore from Gaja Capital Partners, a Mumbai-based PE fund. This new round of financing will enable the privately held Carnation Auto to further consolidate its independent multi-brand auto solution network as well as also scale up its newly launched certified pre-owned car program across the country. “We are looking at rapid expansion both in the […] Rahul Bajaj-promoted Bajaj Holdings and Investment Ltd has picked a 3.06 per cent stake in the listing-bound Multi Commodity Exchange (MCX). In a notice to investors, MCX indicated Bajaj purchased 1.56 million MCX shares from Passport Capital LLC. The deal would lead to a change in the list of top 10 shareholders in the prospectus, the company added. Passport Capital, which operates as a hedge fund, was the fourth largest shareholder in the company with 2.5 million shares or 4.9 […] Singapore-based private equity firm, Nalanda Capital increased its stake to 11.19 per cent in Mindtree. The PE firm, Nalanda already had a stake of 8.84 per cent in Mindtree. Nalanda India Fund and Nalanda India Equity Fund purchased the stake of 2.85 per cent through open market. Although the price of acquisition was undisclosed, the market price on Wednesday was Rs 464 per share. The announcement coincided with the elevation of vice-chairman Subroto Bagchi as chairman of Mindtree, replacing the […] Mauritius-based Caduceus Asia Mauritius Ltd to pick up 11.93% stake in Shasun Pharmaceuticals Ltd, by infusing Rs 50 crore. The promoters’ holding will come down to 41.15% from the current 46.73%. The money will be used to pay long term funds for the company and to part finance the capex, according to the company. Caduceus Asia Mauritius Ltd is a part of OrbiMed, a private equity fund focusing on healthcare. OrbiMed has earlier invested in Clinical Research firm Ecron Acunova […] Fidelity Growth Partners, the private equity arm of Fidelity Worldwide Investment, along with existing investors have invested $40.6 million in India’s Aptuit Laurus Pvt. Ltd., Aptuit Laurus is a manufacturer of active pharmaceutical ingredients for anti-retroviral, oncological and nutraceutical products. Chava Satyanarayana, founder and CEO of Aptuit Laurus, also invested along with Fidelity, according to reports. Aptuit Laurus is headquartered in Hyderabad. Source: Indus Business In its first investment in the agri services sector, IDFC Private Equity has invested Rs. 150 crore in agri-services provider Staragri Warehousing and Collateral Management Ltd for a significant minority stake. The Jaipur-headquartered firm, which was founded in 2006, offers warehousing, procurement and collateral management of agri commodities. It has a presence in 10 states and operates 750 agri-commodity warehouses with a cumulative capacity of around 1 million tonnes (mt). It also provides allied services such as testing, certification and […] The private equity arm of India’s Infrastructure Development Finance Co said on Thursday it invested 1.5 billion rupees ($30.47 million) in an agriculture services company, Staragri Warehousing and Collateral Management Ltd. IDFC private equity, which manages about $1.3 billion, will pick up a significant minority stake in the company, it said in a statement. Staragri, a Jaipur-based company, is into agri-commodity warehousing services. Source: Economic Times L Capital, the private equity arm of LVMH, the world’s biggest luxury goods group, has bought the 8% stake held by Wolfensohn Capital Partners in unlisted Indian ethnic wear chain Fabindia, two sources with direct knowledge of the matter said. The valuations and terms of the agreement were not immediately available. Media reports have valued Fabindia at about Rs 1,400 crore, “The deal is done. A formal announcement is expected shortly,” one of the sources said. Wolfensohn Capital Partners, the […] |