|
Data Snapshot* – from the Venture
Intelligence Deal Databases |
|
Private Equity |
No.
of Deals |
Value
(US$
Millions) |
*As of
January 25, 2011 |
|
Investments (YTD): |
15 |
424 |
Click
here
to
access deal by deal PE data |
|
PE-backed IPOs (YTD): |
0 |
-- |
|
Exits via M&A (YTD): |
4 |
80.5 |
|
Venture Capital |
No.
of Deals |
Value
(US$
Millions) |
Click
here
to
access deal by deal VC data |
|
Investments (YTD): |
7 |
-- |
|
VC-backed IPOs (YTD): |
0 |
-- |
|
Exits via M&A (YTD): |
0 |
-- |
|
M&A |
Total
No. of Deals |
Click
here
to
access deal by deal M&A data |
|
Outbound Deals (YTD): |
6 |
|
Inbound Deals (YTD): |
8 |
|
Domestic Deals (YTD): |
20 |
Back to top
Done
Deals
PE / VC Fund
Investments
Healthcare & Life Sciences >
Hospitals
Ascent Capital, OrbiMed invest Rs.170-Cr in
KIMS
PE investors Ascent Capital
and OrbiMed have picked up a minority stake
in Thiruvananthapuram-based Kerala
Institute of Medical Sciences (KIMS) for
close to Rs. 170 crore, reports Economic
Times. The funds raised through the
fresh issue of shares will be used for
expanding operations. The 750-bed
multi-disciplinary hospital is led by
Dr. MI Sahadulla. Launched in 2002,
the hospital also has a presence in some
Gulf countries including Oman, Bahrain,
Qatar and Saudi Arabia.
For more information:
http://economictimes.indiatimes.com/articleshow/11622563.cms
http://www.kimskerala.com
Healthcare & Life Sciences >
Diagnostics
IFC to invest up to $25-M in SRL
IFC is to invest up to $25
million in New Delhi-based Super Religare
Laboratories Ltd. (SRL), a provider of
medical diagnostics services established in
1995 and part of the publicly listed Fortis
Healthcare. The funds will help SRL to repay
existing debt and also open new laboratories
across India and, potentially, across
several lower middle-income countries in
Asia and Africa. SRL is looking to raise
$105 million over the next five years.
For more information:
http://www.ifc.org/ifcext/spiwebsite1.nsf/ProjectDisplay/SPI_DP31463
http://www.srl.in
IT & ITES > Online Services
(Retail – Jewelry)
BlueStone.com raises
$5-M from Accel, angels
Bangalore-based BlueStone.com,
an online jewelry and accessories e-commerce
venture, has raised $5 million from VC firm
Accel Partners and Meena Ganesh,
co-founder of TutorVista and MD & CEO of
Pearson Education Services, reports
Medianama. The company plans to use the
funding to increase its design library and
enhance user experience by trying to make
online shopping as close to reality as
possible and also invest in technology.
Bluestone was founded by
Vidya Nataraj, who is married to
Ganesh Narayan, JMD of jewelry
business C. Krishniah Chetty & Sons, and the
former CEO of Chakpak.com, Gaurav
Kushwaha.
From the Venture Intelligence PE Deal
database:
In Feb-11,
online jewelry retailer CaratLane had raised
$6-M from Tiger Global.
For more information:
http://bit.ly/vZWuOu
http://www.bluestone.com/management-team.html
IT & ITES > Online Services
(Mobile Recharge & Discount Coupons)
Sequoia invests Rs.
20-Cr in Freecharge.in
Sequoia Capital India
has invested Rs. 20 crore in Freecharge.in,
an e-commerce site that allows users to
recharge their mobiles in return for
discount coupons, reports Mint.
Freecharge is part of Mumbai-based,
Accelyst Solutions Pvt. Ltd. The company
has tied up with at least 50 retailers and
service providers, including McDonald’s,
Puma, Shoppers Stop and Jet Airways.
Sequoia had made an
undisclosed seed investment in Freecharge
last year. Since its launch in August 2010,
Freecharge’s user base has grown to 1.5
million.
For more information:
http://www.livemint.com/2012/01/24232908/Sequoia-Capital-invests-Rs-20.html?h=B
http://www.freecharge.in
Healthcare & Life Sciences >
Pharmaceuticals
Somerset acquires 32%
of Sandor Medicaids for Rs. 10.5 Cr
Healthcare focused PE firm
Somerset Indus Capital Partners has
acquired a 32% stake in Sandor Medicaids
Pvt. Ltd., a Hyderabad-based maker of
specialty pharmaceutical, diagnostic and
medical technology products. Somerset is led
by Avinash Kenkare, a PE
professional with 12 years of investing
experience in over 15 transactions, and
Mayur Sirdesai, a healthcare
professional with over 15 years of
experience in the Indian pharma/ healthcare
industry.
From the Venture Intelligence PE Deal
database:
In May
2011, Somerset Indus had subscribed to
518,395 CCPS and 100 equity shares of Sandor
at Rs. 202.5 per unit, aggregating Rs.10.5
crore.
For more information:
http://www.somersetinduscap.com/portfolio.htm
http://www.sandor.co.in
IT & ITES > Online Services
(Retail – Baby Products)
Nexus, IndoUS Ventures
invest Rs. 2.5 Cr in HushBabies.com
Nexus Ventures and IndoUS
Ventures have invested Rs. 2.5 crore in
Lapis Marketing Services, which runs
online services HushBabies.com, an
online shopping store which supplies
products for babies and mothers, and
Babybox.in, which provides information
to expecting and new parents. Sandeep
Singhal of Nexus Ventures and
Vani Kola of IndoUS Ventures had
joined the company's board as on August 23,
2011.
Lapis co-founder & Director
Vidhyasagar Krishnamoorthy,
who oversees the company's technology and
operations, earlier spent over 10 years in
North America and was instrumental in
building e-commerce and e-learning
businesses at Medius, a California-based
company. He also helped develop supply chain
and e-commerce solutions for companies like
Cisco, Autodesk, WYSE and the California
government. Co-founder Veena Dhinakar
is involved in planning and directing
initiatives at HushBabies.com. She earlier
worked in managing e-commerce business for
Silicon Valley-based companies like Cisco,
Autodesk and Medius. Lapis Director Deepak
Verma earlier worked at
companies like Future Media India and the
Times Group.
According to a 2011 report in
MediaNama, BabyBox.in was originally
founded as part of Jasper Infotech, another
portfolio company of Nexus and IndoUS which
runs the popular group buying service
SnapDeal.com.
For more information:
http://www.lapisindia.com
http://www.babybox.in/aboutus
http://bit.ly/xHKzJu
IT & ITES > Online Services
(Shopping – Home Décor)
Rocket Internet
invests in heavenandhome.com
European VC fund Rocket
Internet, via its Germany-based group
company Westwing Home & Living, has invested
in New Delhi-based online retailer
heavenandhome.com, which sells home decor
and home furnishing products of both
international and national brands. Rocket
Internet had earlier invested in Groupon and
Facebook, and was the founder of EBay
Germany.
Co-founded by Tushar
Ahluwalia, Nishrit
Shrivastva, Sunnyraj
Agarwal and Tara
Kaushal, heavenandhome updates
an online magazine on a weekly basis and
shows the room shot and interior through
which people get to know how the room or
product will look. It will target women aged
between 25 and 50. Transaction will be
initially limited to metros, before
expanding to consumers in tier 2 and tier 3
cities.
Kaushal is the former editor
of BBC Good Homes India while Shrivastva has
previously worked with Dell and Pearson as a
software developer. Ahluwalia, earlier an
investment banker, is a third generation
Indian settled in Germany with a post grad
degree from London Business School. Agrawal
is also a London Business School alumnus,
who has also worked with PE firm Leopard
Capital.
For more information:
http://www.business-standard.com/461914/
http://bit.ly/zlWeEk
https://www.heavenandhome.com
IT & ITES > Online Services
(Payment)
ZaakPay raises VC
funding
New Delhi-based online
payments solutions provider ZaakPay has
raised money from a global VC fund, reports
Mint. The company is planning to go
live with its online payment solution by the
end of January. It has just released its
first product, Webpay, for credit &
debit card processing.
For more information:
http://www.livemint.com/2012/01/25215411/Investors-bet-big-on-ecommerc.html?h=B
https://zaakpay.com
IT & ITES > Online Services
(Payment)
Footprint Ventures,
Intel Capital invest $5-M in enStage
Footprint Ventures and Intel
Capital have invested $5 million in
Bangalore-based payment solutions and
processing provider enStage Software Pvt.
Ltd., reports Mint. enStage
enables customers to offer secure payments
at the point of sale, on the Internet, via
mobile devices or via interactive voice
recognition.
For more information:
http://www.livemint.com/2012/01/25215411/Investors-bet-big-on-ecommerc.html?h=B
http://www.enstage.com
IT & ITES > Enterprise
Software (Social Media Monitoring Tools)
InRev Systems raises
funding
Bangalore-based technology
products startup InRev Systems Bangalore
Pvt. Ltd. has raised funding from an
undisclosed IT focused investor. Post deal,
Raj Mishra, who is based out
of Delhi and has more than 18 years of
experience in IT sales, has joined the InRev
board.
InRev owns Simplify360,
a software tool used in social media brand
monitoring and analytics. Companies that
have deployed Simplify360 include Café
Coffee Day, Starcom Mediavest, Beehive
Communications, Impetus Research, Mast
Kalandar, Narayana Netralaya and Spar
Hypermarket. InRev plans to open sales
offices in Delhi, Mumbai, Chennai and
Kolkata.
InRev was founded in January
2009 by Bhupendra Khanal,
Sweta Sharma,
Rohit Gupta,
Deep Sherchan,
Binit Thapa and
Laxmi Khatiwada.
For more information:
http://www.prweb.com/releases/2012/1/prweb9132784.htm
http://in-rev.com
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Liquidity Events
Mergers &
Acquisitions
IT & ITES > BPO (Business
Analytics)
IMS
Health acquires PharmArc
US-based IMS Health has
acquired Bangalore-based knowledge process
outsourcing (KPO) start-up PharmArc
Analytics Solutions for an undisclosed
amount. Danbury, Connecticut-based IMS
Health has acquired 100% of the firm, in
which Baring Private Equity Partners
was the largest shareholder.
Majmudar & Co.
represented IMS Health on the deal.
From the Venture Intelligence PE Deal
database:
Baring
India had invested $11-M in PharmArc in
Sep-06.
For more information:
http://bit.ly/xXvDXz
http://timesofindia.indiatimes.com/articleshow/11623633.cms
http://www.pharmarc.com
Telecom > Data Centers
NTT Com to buy out
Nexus Ventures from Netmagic
Japan's NTT Communications
Corporation will acquire a 74% stake in
Netmagic Solutions Pvt. Ltd., a
Mumbai-based provider of datacenter services
in India. As part of the transaction, lead
investor Nexus Venture Partners,
which had invested in the firm
four-and-a-half years ago along with other
investors, will exit the company.
From the Venture Intelligence PE Deal
database:
In Feb-08,
Netmagic had raised $18-M from Fidelity and
Nexus Ventures. In Oct-10 it had raised
$16-M from Cisco, Fidelity, Nexus Ventures
and Nokia Growth Partners.
http://www.nexusvp.com/news-details.asp?id=122
Shipping & Logistics >
Container Freight Station
Eredene Capital sells
10% stake in Sattva CFS
AIM-listed Eredene Capital
PLC has made a partial exit from
Sattva CFS & Logistics Pvt. Ltd., which
runs a containers freight station near
Chennai. It has sold a 10% stake in Sattva
CFS for GBP 1.1 million, fetching an IRR of
49%. The stake was sold to the promoters of
the Sattva Business Group and would
bring Eredene’s stake down to 39%. The deal
is a debut exit for Eredene Capital.
The sale implies a total
valuation for Sattva CFS of Rs. 85 crore,
slightly below the directors' valuation of
Rs. 91.8 crore as of September 30, 2011, but
in excess of the investment cost valuation
of Rs. 14 crore. Eredene had originally
invested £880,000 for a 49% stake in Sattva
CFS with the Sattva Business Group holding
the balance 51%. Sattva CFS is located in
Vichoor and services Chennai port. Eredene
Group has a second CFS investment with the
Sattva Business Group, Sattva Conware Pvt.
Ltd. near Ennore, in which it has an 83%.
From the Venture Intelligence PE Deal
database:
Eredene had
invested $1.7 M in Sattva CFS in Sep-07 in
return for a 49% stake.
For more information:
http://bit.ly/xILg1z
http://www.sattva.in
Back to top
Angel
Investments
IT & ITES > Enterprise
Software (SAAS-based Sales Force Management)
IAN to invest Rs.3.25
Cr in Peel-Works
The Indian Angel Network
(IAN) is to invest Rs.3.25 crores in
Peel-Works, a Mumbai-based start-up that
provides an online platform to manage
indirect sales teams at large consumer goods
companies. IAN members, including
Srikant Sastri, Harish
Mehta and Saurabh
Srivastava, have together
acquired up to 40% in Peel-Works.
Srikant Sastri and Sadeesh
Raghavan are to join the company’s
board.
The start-up computes
performance-based ratings and offers
recommendations on promotions, skill and
competency for outsourced staff on an online
platform. It was founded by Sachin
Chhabra, who had earlier
worked with Hindusthan Lever for 14 years.
For more information:
http://economictimes.indiatimes.com/articleshow/11644851.cms
http://www.peel-works.com
|
APEX'12 Awards
Nominations |
|
A special thanks to ALL the funds
who nominated their firms for the
APEX'12 Awards. We look forward to
hosting you at the event on Feb.13
as guests of Venture Intelligence.
Here is the final shortlist of
nominees for the PE/VC Fund Awards:
Best Early Stage Investor - 2011:
- Accel Partners
- Inventus Capital
- Nexus Ventures
Best Growth Capital Investor -
2011:
- FE Clean Energy
- Gaja Capital
- IFC
- Matrix Partners India
- Motilal Oswal
- SAIF Partners
Best Private Equity Investor -
2011:
- ASK Real Estate
- ChrysCapital
- StanChart PE
- Warburg Pincus
The final winner under each category
will be announced and awarded at the
content-packed APEX'12 Awards on
Feb.13. The special guests for the
event include Mr.Harsh Mariwala,
Chairman of Marico Ltd and
Mr.M.Damodaran, Former Chairman of
SEBI. There will also be a
special panel discussion on how
Indian PE managers can build their
firms for sustainable success.
Email us at
[email protected] or
call Ashok at +91-44-4218-5180 to
confirm your participation. |
Social Venture
Investments
BFSI >
Microfinance
Ujjivan raises Rs.
29-Cr from Developing World Markets
Bangalore-based microfinance
company Ujiivan Financial Services
has raised Rs. 29 crore by placing non
convertible debentures or NCDs to Developing
World Markets, a US-based investment agency
dedicated to sustainable and social
development. The NCDs are listed on the BSE.
With this latest development, Ujjivan has
raised a total of Rs. 84 crore in 2011-12.
Ujjivan,
which focuses on the urban poor, has an
outstanding loan portfolio of Rs. 670 crore
as on December 31, 2011. It serves over a
million clients in 49 under-banked districts
across 20 states.
http://www.ujjivan.com/news_mfi_ujjivan_raises_290_million_through_ncds.htm
Back to top
Other Private
Equity/Strategic Investments
IT & ITES > IT Services
US hedge fund Elliott
picks up Patni stock ahead of delisting
New York-based hedge fund
Elliott Management Corp has picked up a
9.4% stake in Mumbai-based listed IT
services firm Patni Computer Systems,
reports Economic Times. iGate
Corporation, which acquired Patni, has been
planning to delist the firm.
Elliott, which manages assets
worth $17 billion, has been buying small
chunks of Patni stock since October. It
bought the shares through its Mauritius
registered investment arms, Mansfield Ltd.
and Suffolk Ltd., which made some 70-odd
transactions on the BSE and the NSE in
November and December. This was after
whatever Patni ADSs that Elliott could buy
on NYSE.
For more information:
http://economictimes.indiatimes.com/articleshow/11678668.cms
http://www.igatepatni.com
IT & ITES > IT Services
Coffee Day Chairman
Siddhartha buys out Soota's stake in
MindTree
Coffee Day Group Chairman VG
Siddhartha has bought out the residual 3.5%
stake held by Ashok Soota in Bangalore-based
listed software exports company MindTree
Ltd. With this, Siddhartha has become
the single-largest shareholder in Mindtree,
a firm founded by Soota. On Jan. 23, Soota
sold 13,54,130 shares of the company worth
Rs. 64.32 through an open market transaction
at Rs. 475 apiece on the NSE. He also sold
13,60,000 shares, or a 3.36% stake, on the
BSE.
While Siddhartha held a 6.54%
through Global Technology Ventures (GTV), he
has used another vehicle, Coffee Day
Resorts, to raise his stake by 11.8%. As a
result, he has 17.8% stake in MindTree,
which was is valued at close to Rs. 1,800
crore.
For more information:
http://bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=MindTree_Ltd_230112_SAST.pdf
http://www.business-standard.com/462673/
http://bit.ly/x8pMSp
Energy > Power
Steel Exchange to
invest Rs. 60-Cr in Simhadri Power
Publilcy listed Steel
Exchange India Ltd. is planning to
invest up to Rs. 60 crore in
Simhadri Power Ltd.
http://bit.ly/xrgwD7
BFSI > NBFC (Truck Finance)
Shriram Capital ups
stake in STFC
Shriram Capital has increased
its stake in Chennai-based listed transport
finance firm Shriram Transport Finance
Co. Ltd. (STFC) to 4.16% from the
earlier 2.4%. It acquired 39,81,051 shares
from the open market, which amounts to a
1.76% stake.
Shriram Capital holds a
50.17% stake in Shriram Holdings, which in
turn holds a 41.27% stake in STFC.
http://www.bseindia.com/xml-data/corpfiling/AttachHis/Shriram_Transport_Finance_Company_Ltd_270112_SAST1.pdf
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Mergers &
Acquisitions
M&A-Inbound
Manufacturing > Industrial
Automation Equipment
Mitsubishi Electric
acquires Messung Group
Gurgaon-based Mitsubishi
Electric India Pvt. Ltd., part of
Japan-based listed Mitsubishi Electric
Corporation, has acquired Pune-based Messung
Group, a manufacturer of programmable logic
controllers (PLCs) and human machine
interfaces (HMIs) and currently one of
Mitsubishi Electric’s sales and distribution
partners in India. Messung Group was advised
by Ambit Corporate Finance while
Mitsubishi was advised by AZB & Partners.
The acquisition will allow
Mitsubishi Electric to accelerate its
industrial automation systems business in
India and strengthen local sales and
solutions, aiming at sales of 15 billion yen
by the fiscal year ending March 2016.
Messung caters to the automotive, printing,
textile, pharmaceutical and food and
beverage industries by providing technical
support and solutions to industrial
automation equipment manufacturers.
The business transfer
agreement signed by the two parties in
December 2011 is expected to be completed by
the end of March 2012 to finalize the
acquisition.
http://www.messung.com/pdf/MEIPL-Release-23-01-2012.pdf
Healthcare & Life Sciences >
Hospitals (Renal Care)
US firm DaVita acquires
majority stake in Nephro Life
Denver, US-based, NYSE-listed
DaVita Inc. has acquired a
controlling interest in NephroLife, a
Bangalore-based dialysis chain operator.
DaVita had previously acquired a minority
stake in the company. NephroLife currently
operates nine clinics in India, offering a
range of nephrology care including dialysis
and vascular surgery.
From the Venture Intelligence PE Deal
database:
In May-11,
NephroLife had raised $10-M from NEA and
DaVita.
For more information:
http://www.businesswireindia.com/PressRelease.asp?b2mid=29892
http://www.nephrolife.in
IT & ITES > BPO (Business
Analytics)
IMS Health acquires
PharmArc
US-based IMS Health has
acquired Bangalore-based knowledge process
outsourcing (KPO) start-up PharmArc
Analytics Solutions for an undisclosed
amount. Danbury, Connecticut-based IMS
Health has acquired 100% of the firm, in
which Baring Private Equity Partners
was the largest shareholder.
Majmudar & Co.
represented IMS Health on the deal.
IMS Health is jointly owned
by TPG Capital, Leonard Green & Partners and
CPP Investment Board, an arm of the Canadian
Pension Plan. The acquisition of the
six-year-old PharmArc will help IMS to scale
up its analytics business. PharmArc, with a
team of over 250 analysts, provides
marketing analytics and business consulting
services to global pharmaceutical and
healthcare sectors.
For more information:
http://bit.ly/xXvDXz
http://timesofindia.indiatimes.com/articleshow/11623633.cms
http://www.pharmarc.com
Telecom > Data Centers
NTT Com to acquire 74% stake in data center
firm Netmagic
Japan's NTT Communications
Corporation will acquire a 74% stake in
Netmagic Solutions Pvt. Ltd., a
Mumbai-based provider of datacenter services
in India. As part of the transaction, lead
investor Nexus Venture Partners,
which had invested in the firm
four-and-a-half years ago along with other
investors, will exit the company. Netmagic
Founder & CEO Sharad Sanghi
has also sold a minor stake in the
transaction.
Established in 1998, Netmagic
provides managed IT hosting services,
currently operating seven datacenters in
cities such as Mumbai, Chennai, Noida
(Delhi-NCR) and Bangalore. It provides
services such as colocation and managed
hosting to more than 1,000 customers, as
well as ISP and cloud services to many other
customers. It has about 500 employees.
For more information:
http://www.nexusvp.com/news-details.asp?id=122
http://www.netmagicsolutions.com/ntt-com-to-acquire-74-percent-stake-in-netmagic-solutions.html
Manufacturing > Electronic
Test & Measurement Products
US firm Fluke acquires
TTL Technologies
Everett, US-based Fluke
Corporation, a company providing
portable electronic test and measurement
technology in transportation, defense and
manufacturing industries, has acquired
Mumbai-based TTL Technologies Pvt. Ltd.,
its master distributor in India since 2001.
TTL businesses and employees will be
integrated into the Fluke organization.
The acquisition will enable
Fluke to take full advantage of TTL’s
experience in the Indian test and
measurement market, its national
distribution network, customer care and
accredited calibration labs.
For more information:
http://www.business-standard.com/462695
http://www.ttlindia.com
Energy > Equipment (Power -
Transformers)
Canada's Hammond Power
to acquire PETE
Guelph, Canada-based,
publicly listed Hammond Power Solutions
Inc. (HPS) is to acquire a 70% stake in
Hyderabad-based transformers manufacturer
Pan-Electro Technic Enterprises Pvt. Ltd.
(PETE) for an undisclosed amount. PETE is
involved in the design and manufacture of
cast coil, custom liquid filled
distribution, and power transformers, with
annual revenues of approximate $16 million.
The agreement is likely to be signed and the
deal closed in early February.
HPS is into the design and
manufacture of dry-type custom electrical
engineered magnetics, electrical dry-type
and cast coil transformers.
For more information:
http://bit.ly/AyJi1J
http://www.petetransformers.com
Back to top
M&A-Outbound
Manufacturing > Auto
Components
Undone: Ruia’s
takeover bid for German auto component maker
fails
The Ruia
Group has given up on Germany-based
Meteor Gummiwerke KH Badje GmbH and Co.,
an ailing auto components firm that it was
to acquire from a trust representing its
controlling shareholders, reports Mint.
In May 2011, Ruia had announced a deal to
acquire the German firm but subsequently
failed to infuse cash into it. On January
13, Meteor Gummiwerke filed for bankruptcy.
Strapped
for cash, the Ruia Group has had to abandon
almost all the acquisitions one by one — in
France, Turkey and Germany — of rubber
sealing system makers it had announced in
2011.
For more information:
http://www.livemint.com/2012/01/24001030/Ruia8217s-takeover-bid-for.html?h=A1
http://www.meteor.de/profil.php?lang=en
M&A-Overseas
Healthcare & Life Sciences >
Pharmaceuticals
Strides sells generic
pharma ops in Australia to Watson
Bangalore-based listed
Strides Arcolab Ltd. has sold its 94%
shareholding in Ascent Pharmahealth Ltd.,
its subsidiary with operations in Australia
and Southeast Asia, to Watson
Pharmaceuticals. As part of the
transaction, Watson also acquired the
remaining 6% shareholding belonging to
Dennis Bastas, CEO of Ascent. The
transaction was signed and closed
simultaneously. The cash offer from Watson
values Ascent at an enterprise value of
A$375 million.
Ascent is a top five generic
pharma company in Australia and is present
across several countries in Southeast Asia,
including Singapore.
From the Venture Intelligence M&A Deal
database:
In August 2009, Strides Arcolab acquired a
55% stake in Genepharm Australia for $ 57.7
M.
http://bit.ly/zVQuUR
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M&A-Domestic
Hotels & Resorts
Phoenix Mills
acquires controlling stake in
Phoenix Hospitality
Mumbai-based listed
Phoenix Mills Ltd. has taken
a 56.92% stake in Phoenix
Hospitality Company Pvt. Ltd. (PHCPL)
by acquiring around 13.21 lakh
shares of the company at a premium
of Rs. 1156.7 per share in lieu of
the share application money of Rs.
154.16 crore infused by it in PHCPL.
http://bit.ly/wrfOLA
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Debt
Financing
Energy > Renewable
Power Projects (Wind)
Orient Green
Power's TN wind power unit raises Rs.
536-Cr debt
Beta Wind Farm
Pvt. Ltd.,
a subsidiary of BSE-listed Orient
Green Power Company Ltd., has raised
a Rs. 536 crore loan from Axis Bank
for which its parent company has
issued a corporate guarantee,
reports Business Standard.
The funding is for the second phase
of a 300 MW wind project coming up
in Tamil Nadu, Andhra Pradesh and
Gujarat. This is in addition to the
guarantee for Rs. 1,236 crore term
loan already issued to the bank
earlier. The term loan was secured
from a consortium of 10 banks with
Axis Bank being the lead bank.
Orient Green Power is
also planning to pledge 23% equity
shares held in Beta Wind Farm to
IL&FS Financial Services and other
lenders, for sanctioning a bridge
loan of Rs. 90 crore.
http://www.business-standard.com/462821/
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Deals
in the Making
Private
Equity /
Strategic Investments
Engg. & Construction
> Infrastructure (Roads)
GMR close to
raising Rs. 600-Cr in PE funding for
highways biz
Bangalore-based
GMR Infrastructure is close to
raising Rs. 600 crore through the PE
route to fund the expansion of its
highways business, reports
Business Standard. A deal is
expected to be signed within three
weeks, facilitating the financial
closure for the Rs. 7,500 crore
highway project that GMR won in
October for a 555 km stretch from
Ahmedabad to Kishangarh, Rajasthan.
http://www.business-standard.com/462676/
Education > K-12
Mind Shaper in
talks to raise $40-M in PE funding
Mind Shaper
Technologies Pvt. Ltd.,
a Gurgaon-based provider of
educational content under the
Classteacher Learning Systems
brand, is in talks to raise $40
million in PE funding in the next
three months, reports Mint.
The company develops digital
educational content for the K-12
segment. The new funds will largely
be used for product development,
marketing and sales promotion of
teacher learning products.
Founded by
Rohit Pande and Sameer
Buti, Mind Shaper is working
with more than 500 schools and about
half a million students, providing
consulting and technology solutions.
Fidelity Growth Partners India had
invested $15 million to acquire a
minority stake in the company in
July 2011.
For more
information:
http://www.livemint.com/2012/01/27214958/Mind-Shaper-in-talks-with-PE-i.html?h=A4
http://www.classteacher.com
Energy > Coal
Tata Power in
talks to acquire 15% stake in MEC
Coal
Tata Power Company is
in talk to acquire 15% stake in
Dubai's MEC Coal, reports
Moneycontrol. MEC is developing
two coal mines in Indonesia's East
Kalimantan, with estimated reserves
of 1.5-2 billion tons. It is a
member of the Trimex group of
companies, a global minerals and
metals conglomerate.
For more
information:
http://bit.ly/xidP9P
http://www.mec-coal.com/about.asp
Energy > Natural Gas
OVL in talks
with Russia’s Novatek for 15% Yamal
stake
An Indian consortium
led by ONGC Videsh Ltd. (OVL)
is in talks with Russia’s OAO
Novatek to acquire a 15% stake
in its subsidiary OAO Yamal LNG
for developing a natural gas field,
reports Mint. The transaction
will also include tie-up for a
natural gas liquefaction project and
joint marketing of LNG. OAO Yamal
LNG has the license for exploration
and development of the South
Tambeyskoye field, and a stake
purchase would help boost India’s
energy security. OAO Novatek, which
owns 80% of the unit, is offering a
29% stake for participating in the
project. France’s Total has a 20%
stake in OAO Yamal.
http://www.livemint.com/2012/01/24230851/OVL-in-talks-with-Novatek-for.html?h=B
BFSI > Exchange
(Commodities)
NMCE promoters
in talks with PE players to dilute
stake
Ahmedabad-based
National Multi Commodity Exchange
(NMCE) is in talks with 5 PE players
and large private banks to divest
part of shareholders’ equity in the
exchange, to meet the regulatory
guidelines before the extended
deadline of March 31, 2012, reports
Business Standard. Currently,
the exchange has an equity share
capital of Rs. 19.12 crore, which,
according to revised guidelines,
should be raised to at least Rs. 50
crore before March 31. Also, the
promoters’ stake needs to be brought
down to 26%.
NMCE sold a 12.82%
stake to Bajaj Holdings and
Investment for Rs. 25 crore in
October 2010 to meet the capital
requirement guidelines.
http://www.business-standard.com/462740/
IT & ITES >
Enterprise Software (E-commerce
Platform)
BigRaja
scouting for angel investment
Bangalore-based
Adodis Technologies Pvt. Ltd.,
which operates BigRaja, an
e-commerce platform for online
stores, is close to raising a fresh
round of funding from angel
investors, reports Mint.
BigRaja enables the creation of a
store front loaded with features
that will enable management of
inventory, addition of products and
images, facilitate catalog
management. It also provides
customer support features, generates
sales reports, creates marketing
promotions, helps manage orders and
can be integrated with payment
gateways.
For more
information:
http://www.livemint.com/2012/01/25215411/Investors-bet-big-on-ecommerc.html?h=B
http://www.bigraja.com
IT & ITES > Online
Services (Food Ordering Portal)
FoodKhoj looks
to raise Rs. 2-Cr seed funding
Bangalore-based
FoodKhoj, a site that enables users
to order food online and have it
delivered from restaurants of their
choice, is looking at the next level
of expansion with a SaaS-based
model that will enable restaurant
owners to set up and run their own
food ordering portals. The company
is in the market to raise seed
funding of about Rs. 2 crore
(approximately $400,000) to finance
growth plans, reports Startup
Central.
The seed funding will
also be used to scale FoodKhoj
across more campuses include rolling
out the service to corporate
campuses and housing societies. The
company, which started with the BITS
Pilani campus in Goa, currently
serves seven campuses across the
country. Another 9 will be added in
the next three months. The company
may also pursue growth through the
mergers and acquisitions route.
For more
information:
http://bit.ly/wgA4Xp
http://www.foodkhoj.com
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M&A
Hotels & Resorts >
Hotels
Sahara bidding
for Rs. 5,808-Cr Marriott hotels
sale: report
The Sahara Group
has made a bid for the Marriott
Group’s hotels in London, being sold
by Royal Bank of Scotland for about
GBP 750 million (Rs. 5,808 crore),
reports PTI. According to a
report in the Sunday Times,
the 42 4- and 5--star properties
have attracted interest from a range
of potential buyers.
Sahara, which
acquired the Grosvenor House a year
ago for Rs. 3,275 crore, is vying
with the Abu Dhabi Investment
Authority and another Indian
investor, Blue Post Group, among
others. Jones Lang La Salle, the
property agent, and Hawkpoint, a
corporate finance firm, are handling
the sale.
http://economictimes.indiatimes.com/articleshow/11675983.cms
Manufacturing >
Automobiles (Buses)
Ashok Leyland
eyes acquisition of bus makers for
$400-M
Chennai-based listed
heavy vehicles manufacturer Ashok
Leyland Ltd. is looking to
acquire global bus makers for
$200-400 million, reports Times
of India. It is in talks with
1-2 companies for the same. It is
focusing on Africa, Latin America,
the Middle East and Europe for
acquisitions.
http://timesofindia.indiatimes.com/articleshow/11681220.cms
Mining & Minerals >
Metals
Vedanta offers
to buy out govt. stake in Balco, HZL
Metal and mining firm
Vedanta Resources has offered
to buy out the Indian government’s
residual minority stake in its group
firms Bharat Aluminium Co. Ltd.
(Balco) and Hindustan Zinc Ltd.
(HZL), reports Mint. The
government holds 49% and 29.5%
stakes, respectively, in the two
firms. It had sold a 51% stake in
Balco for Rs. 551 crore in 2001 and
64% in HZL for over Rs. 750 crore in
2003 to Vedanta as part of its
disinvestment program.
http://www.livemint.com/2012/01/25225240/Vedanta-offers-to-buy-govt-sta.html
Energy > Coal
Bankers eye
mandate for Coal India’s foreign
asset purchase plan
Investment bankers
are eyeing the overseas asset
purchase plan of Coal India Ltd.,
reports Mint. The last date
for submitting applications is
February 22. Players said to be
interested in the mandate include
consultants such as KPMG and
PricewaterhouseCoopers. Coal India
had advertised for advisers for tax
and accounting advisors on January
4, after its quest for buying mining
assets owned by US’s Massey Energy
Co. and Peabody Energy Corp. and
Indonesia’s Sinar Mas went cold
after nearly two years of due
diligence and talks.
http://www.livemint.com/2012/01/29214748/Bankers-eye-Coal-India8217s.html
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Oriental Insurance
invests Rs. 120-Cr in VC funds
PSU general insurer
Oriental Insurance Company of
India (OICL) has begun investing
in PE/VC funds floated by financial
institutions, reports Financial
Chronicle. It has made an
initial investment of Rs. 120 crore
in the funds floated by IDFC, IDBI
and ICICI focused on infrastructure.
The performance benchmark entailed a
minimum annualized return of at
least 18%.
Almost all the
insurers have stayed risk averse, in
view of tight guidelines from
Insurance Regulatory and Development
Authority. General insurers’
investments have largely been in
government securities, and public
sector debt.
http://www.mydigitalfc.com/news/oriental-invests-vc-funds-158
BlackRock, DSP to
form PE JV to target mid-sized
firms: report
US-based asset
management firm BlackRock is to set
up a PE fund jointly with
Hemendra Kothari's DSP
Group, reports Economic Times.
The PE firm will focus on mid-sized
companies. It will not only be
buyouts but also minority growth
capital, but in no case a less than
substantial stake. Rajeev
Gupta, former head of
Carlyle and an old DSP hand, is
advising Kothari on the business
model.
DSP and BlackRock
already run an asset management JV.
http://economictimes.indiatimes.com/news/news-by-industry/banking/finance//11678981.cms
GenNx360 Capital
Partners opens India office
GenNx360 Capital
Partners, a PE firm specializing in
buyouts of industrial B2B companies
in the middle market having revenues
between $75 million and $500
million, has established its
presence in India and Asia by the
formation of GenNx360 India
Advisors Pvt. Ltd. The new
entity will operate out of two
offices located in Gurgaon and
Bangalore.
Founded in January
2006 in New York city with
additional offices in Seattle and
Boston, the firm focuses on
opportunities in industrial water
treatment, specialty chemicals and
engineered materials, industrial
machinery and equipment components,
global transportation component
parts, including auto, rail and
infrastructure, aerospace and
defense, oil and gas services,
including parts and equipment, and
business services, including
logistics.
http://www.gennx360.com/newsitem.php?id=78
Swedfund to invest
only in funds domiciled in home
markets
Sweden’s development
finance institution, Swedfund, will
make commitments to PE only on
condition that funds are domiciled
in their home market, according to
its new CEO. The comments come after
the firm ceased making third-party
fund commitments three years ago
following concerns about the tax
treatment of funds offshore.
http://www.efinancialnews.com/story/2012-01-26/swedfund-outlines-fund-investment-conditions
Back to top
Red Fort Capital
raises $500-M 2nd fund
Red Fort Capital has
raised $500 million for its real
estate PE fund, reports Mint.
It had made a first close of about
$80 million in April 2011.
The latest property
fund is Red Fort Capital’s second
fund. It has fully invested a $400
million fund earlier. Last March,
the PE firm said it has returned
more than $100 million to investors
since 2009. In the first quarter of
2011, the firm exited four
investments in residential and
office sectors located in New Delhi
and Chennai.
http://www.livemint.com/2012/01/23123253/Red-Fort-Capital-raises-500-m.html
Tano Capital
closes second fund at $111-M
Tano Capital, an Asia
focused alternative asset management
firm, has announced the final
closing of the Tano India Private
Equity Fund II (TIPEF-II) on
$111.3 million of committed capital,
reports Moneylife. TIPEF-II
is the successor fund to the $100
million Tano India Private Equity
Fund I (TIPEF I), a 2006-vintage
fund that has made direct
investments in 10 India-based
portfolio companies and has realized
two successful exits.
TIPEF-II’s investment
philosophy will remain the same as
its predecessor fund, namely
focusing on building a diversified
portfolio of investments in
primarily middle-market, rapidly
growing India-based companies. Focus
sectors include manufacturing,
financial services, healthcare and
consumer discretionary.
http://bit.ly/wSQ1oh
Lok Capital closes
$66-M fund Lok Capital II
Lok Capital has just
closed its $66 million fund, Lok
Capital II, which has an
investment focus on healthcare and
education. Investments of the fund
will range between $1 million and $7
million, and will be invested over
the next 4-5 years, reports
Economic Times. The firm is
looking at 10-15 portfolio companies
emerging out of Lok Capital II.
For more
information:
http://economictimes.indiatimes.com/articleshow/11610795.cms?curpg=2
http://www.lokcapital.com
Back to top
India Infoline PE
arm to enter realty with Rs. 500-Cr
fund
IIFL Venture
Capital Fund,
the new PE arm of the India Infoline
group, is close to raising Rs. 500
crore for investing in real estate,
reports Economic Times. The
fundraising will mark the
brokerage's foray into the PE
business. IIFL Alternate Asset
Advisors, which has raised the money
from high net worth individuals,
will focus on investing in
residential properties in top
cities.
http://economictimes.indiatimes.com/articleshow/11623215.cms
IFC may invest
$20-M in SME fund Pragati
IFC may make an
equity investment of up to $20
million in Pragati India Fund, an
SME-focused fund that will look at
investing in the economically
under-developed states of the
country including Bihar, Jharkhand,
Uttar Pradesh, Madhya Pradesh,
Chhattisgarh and Orissa, reports
Microfinance Focus.
Pragati India Fund, a
Mauritius private limited company,
has a target fund size of $75-100
million. IFC is proposing an equity
investment equivalent to 20% of the
fund's total committed capital. The
investment advisor of the fund is
based in New Delhi.
http://bit.ly/wVovVm
Sarona Asset
Management invests $2-M in
Ventureast Life Fund
Canada and
Netherlands-based Sarona Asset
Management, via its Sarona
Frontier Markets Fund 1, has
invested $2 million in Ventureast
Fund III, a VC fund that invests
in small and mid-market companies in
India with a focus on the
healthcare, clean technology and
agribusiness sectors. Ventureast,
in toto, manages over $300 million
in PE investments.
http://saronafund.com/news/category/pressreleases/
Back to top
People
Carlyle promotes
Nikhil Mohta, Manish Gaur, Alekh
Dalal to Directors
Global PE firm
Carlyle Group has promoted three of
its Mumbai office executives as
Directors. These include Alekh Dalal
(Asia Buyout), Manish Gaur (Asia
Growth) and Nikhil Mohta (Asia
Growth). The promotions follow an
internal organizational
restructuring. Carlyle has promoted
41 professionals to senior
positions, 13 to the position of MD
and 28 to Position
Principal/Director across its global
offices.
Gaur had previously
worked with Credit Suisse First
Boston and Deutsche Bank as an
Equity Research Analyst. He holds a
post-graduate diploma in management
from IIM-Ahmedabad and a B.Tech from
IIT-Bombay.
Dalal joined Carlyle
in 2007. Earlier, he spent eight
years in New York and was with Saras
Capital, the Cypress Group and
Gleacher & Co. He holds a B.S in
economics from the Wharton School of
the University of Pennsylvania.
Mohta was earlier
Associate at McKinsey & Co, India.
He has worked on consulting
engagements with senior managements
of companies in various industries
such as chemicals, oil and gas,
banking and telecommunications
industries. Mohta received his MBA (PGDM)
from IIM-Ahmedabad and B.Com (Hons)
the University of Delhi.
For more
information:
http://www.carlyle.com/Media%20Room/News%20Archive/2012/item12159.html
http://www.carlyle.com/Team/item5974.html
http://www.carlyle.com/Team/item9778.html
http://www.carlyle.com/Team/item5952.html
|
Education Companies Valuation
Report |
|
The Education
Industry focused edition of the
Venture Intelligence Valuation
Insight - India's First & Only
Sector Focused Valuation Report &
Company Financial Performance
Scorecard
- captures:
-
Valuation
Multiples of Education companies
- grouped by sector - based on
latest transactions (both PE/VC
and M&A)
-
Valuation
trends in sectors and
sub-sectors
-
Financial
performance of individual
companies
Other Features of the Report:
*
Valuation Query
Builder
- A dynamic filter-based
Valuation
Multiple Query Table, query-able by
Sub Sectors, Stage of Company,
Revenue Range and Investor Type
across more than
65 Companies.
*
Sector Analysis
- Compare Valuation of Education
companies to
Valuation of the Indian
Indices using the "Premium to Index
(%)" Table. Analyse the
Valuation Multiples of several
companies within the same sector as
well as the financial performance of
these companies.
*
Exit Analysis -
View the Return
Multiples of PE/VC Investors that
have exited from education companies
and analyse "Post IPO performance"
of PE/VC funded companies that went
public.
*
Company Financials -
View
detailed Profit/Loss Statements and
Balance Sheet data of private
and public companies for the last 5
years.
Click Here
to request
a sample from the report along with
special pricing
details for subscribers.
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Back to top
Ansal
Properties looks at Rs. 300-Cr PE
deal
Ansal Properties
and Infrastructure
is likely to ink a Rs. 300 crore PE
deal soon, reports DNA
India. It would most likely be a
project-level deal for one of the
properties in Greater Noida. The
deal would be part of the Rs. 500
crore PE funding the company has
been planning to raise.
The company which has
19 integrated townships in northern
India, has already raised Rs. 200
crore in February last year, when PE
firm Red Fort Capital picked up a
26% stake in a JV with it. The JV
was for expansion of a residential
project in Gurgaon, adding 108 acre
to an existing 112 acre township,
called Escencia.
http://bit.ly/xnQOtW
Parsvnath, HDIL,
Emaar MGF looking to sell assets to
cut debt
Parsvnath
Developers Ltd.
has put up for sale a 1.5 acre plot
in Delhi’s Connaught Place to raise
Rs.700-800 crore to cut debt,
reports Mint. It had bought
the plot three years ago. Parsvnath
had a debt of Rs.1,200 crore as at
end-September.
Housing
Development and Infrastructure Ltd.
(HDIL) and Emaar MGF Land Ltd.,
which have debt of Rs. 3,900 crore
(at end-September) and Rs. 4,217
crore (at end-December),
respectively, too, are negotiating
the sales of some assets, including
land meant for township projects.
HDIL is looking to monetize assets
in places such as Kochi and suburban
Mumbai, where it has land.
http://www.livemint.com/2012/01/29210316/Realty-firms-start-mega-asset.html?atype=tp
Turner
Construction in talks with Sahara
Prime City for JV
Turner
Construction Co.,
the US unit of German construction
services company Hochtief, is in
talks with Sahara Prime City Ltd.
for a 10% initial stake in a JV,
which will provide services to
Sahara’s planned construction
township projects, reports Mint.
Sahara’s projects are currently
valued at Rs. 500 crore. The company
may make a formal announcement
regarding the JV in the second week
of February.
Turner, which opened
an office in Mumbai in 2008, has
provided program management services
to real estate firm Hirco for
mixed-use developments across the
country. It has also provided
services to real estate companies in
Hyderabad and Chennai.
http://www.livemint.com/2012/01/25215210/Turner-in-talks-with-Sahara-Pr.html
India,
Ahoy!
Tiffany's in talks with Reena Wadhwa for India entry
US-based jewelry firm Tiffany & Co. is in talks
to enter India through a 51% joint venture with
actress-turned-luxury entrepreneur Reena Wadhwa, who
already has a JV with Italian luxury brand Gucci,
reports Economic Times. Reena Wadhwa, who is
married to investment banker and Ambit Group CEO
Ashok Wadhwa, will float a new venture to run
Tiffany's business.
http://economictimes.indiatimes.com/articleshow/11609486.cms
China Steel Corp to invest Rs. 1,000-Cr in Gujarat plant
Taiwanese steel maker China Steel Corporation has signed
an MoU with the Gujarat government for setting up an
electric steel plant at Dahej GIDC in south Gujarat,
reports Business Standard. The company has
promised an investment of $178 million (approx. Rs.
1,000 crore) for the project, marking the largest
investment by any Taiwanese company in India so far.
It
has acquired 50 hectares of land at Dahej and will start
work for the project by June 2012. The commercial
production of electric steel is likely to start from
2014 onwards. Most of its production will be supplied to
the domestic market, while about 5% will be exported to
the Middle East.
http://www.business-standard.com/462622/
|
Venture Intelligence Entrevista with Ashok Soota
Lessons in Entrepreneurial Excellence
|
|
Venture Intelligence, as part
of its Entrevista program,
has recently published - in
multi-media format - the recording
of an interaction with Ashok Soota of Happiest
Minds
in conversation
with Sanjay Anandaram, Founder of Jumpstartup
Click Here for the video / podcast of this
event
These recordings are hosted for free download on
the Venture Intelligence Entrevista web site at
http://www.entrevista.in for the benefit of
other entrepreneurs. Forthcoming Entrevista interactions lined up
include , Manish Sabharwal of Teamlease
and CJ George of Geojit BNP Paribas. If
you would like to explore how your firm can
associate with Venture Intelligence Entrevista
and expand the reach of your brand in the Indian
entrepreneurial ecosystem, please connect with
Arihant at
[email protected] or
+91-44-4218-5180
|
Back to top
New
Ventures
Spanish fashion brand Kelme
ties up with Global Overseas for India entry
Spanish sportswear and
fashion brand Kelme is entering India
through a licensing and distribution
agreement with Global Overseas and plans to
open up to 10 stores during the first year
of operations, reports Business Standard.
Ghaziabad headquartered Global Overseas is a
part of the Singapore-based Sports Fashion
(SF). Kelme is owned by New Millennium
Sports that has tie up with SF for Asia
Pacific region.
http://bit.ly/x7TJPO
Anand Automotive to form unit
for after-market segment
New Delhi-based Anand Group,
an auto components firm, plans to form a
separate entity to cater to the after-market
segment, selling its own products as well as
those of other companies, reports Mint.
The group also plans to venture into defense
equipment and is scouting for a potential
partner.
http://www.livemint.com/2012/01/24131649/Anand-Automotive-unit-to-cater.html?h=A1
Mytrah Energy to increase
wind energy generation capacity to 500 MW
Renewable energy generation
company Mytrah Energy (India) Ltd. is
set to augment capacity of about 150 MW
through two wind farms in Andhra Pradesh and
250 MW more in Rajasthan, Karnataka and
Maharashtra, taking the installed power
generation capacity up to 500 MW by June
2012, Business Line. In AP, the
company is investing Rs. 900 crore for 150
MW. It is at an advanced stage of setting up
of two farms in Kurnool (80 MW) and
Anantapur (65 MW) and more farms in
Rajasthan, Karnataka and Maharashtra at an
installation cost Rs. 6-7 crore per MW
depending upon the location. The company
currently has an installed capacity of about
100 MW of wind energy, including Rajasthan
(42 MW), Maharashtra (39 MW) and Gujarat.
http://www.thehindubusinessline.com/companies/article2828586.ece
Hind High Vacuum plans third
unit for defense, aerospace biz
Vacuum technologies firm
Hind High Vacuum Co. Pvt. Ltd. (HHV)
plans to expand with a third plant around
Bangalore focusing on the defense and
aerospace business, reports Business Line.
The family-owned company that was started in
1965 has been supplying equipment for
satellite and aircraft projects of ISRO,
Hindustan Aeronautics, DRDO and the
Department of Atomic Energy for many years.
HHV aims to more than double
its turnover to Rs. 500 crore by 2014 (from
nearly Rs. 200 crore this fiscal). Its
revenues come from specialized domestic
projects; exports, contract manufacture and
consultation.
http://www.thehindubusinessline.com/companies/article2828568.ece
Aura Herbal forays into
retail, plans 6 stores
Moving ahead from its
existing B2B model, Ahmedabad-based Aura
Herbal Textile Ltd. is foraying into the
B2C retail segment as well with the opening
of its exclusive showroom in the city,
reports Business Standard. It has
also launched the Aura Herbal brand of
organic herbal range of apparels and
accessories. Over the next year, the company
expects to open 5-6 exclusive showrooms
across the country.
The showroom will house
herbal dyed products like T-shirts, shirts,
SPA products like face towels, hand towels,
shower towels, bags, scarves, fabrics,
stoles, bill holders, undergarments and
other such organic products.
http://www.business-standard.com/462697/
NMDC
gets gold mining lease in Tanzania
Iron ore mining company NMDC
has secured a gold mining lease in the
Bulyang’Ombe and Saga Hills area of
Tanzania, reports Business Standard.
The mine was estimated to be having gold
deposits of four tonnes. The initial
investment would be $50 million. The company
would start mining within six months.
NMDC is trying to find a JV
partner for developing the African gold mine
with an enterprise that was already into
mining or related activity in Tanzania. If
it is not able to, it would undertake mining
activity on its own.
http://bit.ly/wCZD20
Petronet
to set up Rs. 4,500-Cr terminal in Andhra
Pradesh
Petronet LNG Ltd.
will set up a Rs. 4,500 crore terminal at
Gangavaram in Andhra Pradesh with a capacity
of 5 million tons, reports Financial
Chronicle. It has given the go-ahead for
carrying out a detailed feasibility study of
the proposed terminal.
http://bit.ly/xDStBa
Surana Ventures commissions 5
MW photovoltaic unit in Gujarat
Surana Ventures Ltd.
has commissioned a 5 MW solar photovoltaic
unit at Patan district in Gujarat, reports
Business Line. Located at the
Gujarat Solar Park, the project has been
completed with an outlay of Rs. 56 crore.
The company has also
completed its module manufacturing unit at
Fab City, 40 km from Hyderabad, which
has a capacity to manufacture 10 MW per
annum.
http://www.thehindubusinessline.com/companies/article2837005.ece
Metro to invest Rs. 650-Cr in
India, eyes 50 stores
German wholesale firm
Metro Group plans to invest over EUR 100
million (about Rs. 650 crore) in India as
part of strategy to spread footprint across
the country, reports Business Standard.
The cash-and-carry firm, which currently has
nine stores at six locations in India in
Bangalore, Hyderabad, Kolkata, Mumbai,
Jalandhar and Ludhiana, is looking to have
50 stores soon.
http://bit.ly/xv4gQP
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Venture Intelligence Limited
Partner Directory
Dear Subscriber,
We are happy to announce the
launch of our latest India
Limited Partner Directory –
2011. The directory contains a
listing (along with their
contact details) of more than
200 Limited Partners who are
actively investing or looking to
invest in Indian PE and VC
funds.
Click here to request for a
sample and the subscriber
discounted rate of the directory
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People
Walt Disney India MD Mahesh
Samat resigns
Mahesh Samat has resigned as
MD of Walt Disney India, even as the US
entertainment company is buying out its
Indian partner, UTV, reports Economic
Times. Last July, Walt Disney made a
$454 million offer to buy the Indian
promoters, including UTV promoter
Ronnie Screwvala, from UTV Software
Communications. At that time, the company
had said that Screwvala would head Disney's
operations in India while Samat would report
to Screwvala in the role of CEO.
Samat had joined Disney India
in 2007 and rose from being a Senior VP to
MD in three years. An alumnus of IIM-Calcutta,
he had earlier worked with Johnson &
Johnson, Kellogg's, Warner
Lambert/Parke-Davis and Boots India.
http://economictimes.indiatimes.com/articleshow/11609637.cms
Reckitt Benckiser India head
S Raghunandan quits
S Raghunandan has quit
Reckitt Benckiser India within three weeks
of taking over as the country head of the
UK-based consumer products maker due to
personal and health reasons, reports
Economic Times. He had taken over as the
country head only on January 2, following
the elevation of the firm's former India
Chairman and MD CM Sethi as
its South East Asian region head.
http://economictimes.indiatimes.com/articleshow/11609613.cms
Jyothy Labs appoints K Ullas
Kamath as Joint MD
FMCG firm Jyothy
Laboratories Ltd. has promoted K Ullas
Kamath as its Joint MD with effect from
January 23, 2012. He was earlier the Deputy
Managing Director of the company.
http://bseindia.com/stockinfo/anndet.aspx?newsid=a174b0cc-a2a6-4a0e-bdc4-8389ff208bdb¶m1=1
Regulatory News
SEBI
eases norms on preferential allotments
Capital market regulator SEBI
has lifted restrictions on broad based
institutions such as insurance firms and
mutual funds subscribing to preferential
issues of companies, reports Business
Standard. As per earlier regulations,
these institutions were not allowed to
participate in preferential allotments if
they had sold holdings in the issuer
companies in the preceding six months.
Further, on allotment, they were required to
lock-in their entire pre-preferential
holdings in such companies for a period of
six months from date of preferential
allotment. Both these restrictions have now
been lifted. However, the lock-in on shares
allotted in the preferential issue, will
remain unchanged.
http://www.business-standard.com/463064/
3-year lock-in rule for FDI
to go
The government is
liberalizing the FDI rule to repatriate
original investment before a three-year
lock-in period from the day it completes its
minimum capitalization norm for the sector,
reports Business Standard. It
contends that this restriction can be done
away with, if the investor offers acceptable
reason for not making the investment. The
stance is expected to encourage many foreign
investors whose projects in India might get
stuck due to environment clearances and
inability to acquire the requisite land in
the earmarked area, lending them an exit
route much before three years.
http://www.business-standard.com/462679/
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Other
News
Inbound M&A deal volumes
surge by 30% in 2011
Foreign companies acquired
majority stakes in 131 Indian companies
during 2011, registering a 30% rise in such
transactions as compared to the previous
year, according to a study by Venture
Intelligence, a research service focused on
Private Equity and M&A transaction activity
in India. Of these inbound deals, there were
65 deals with an announced value of $9.99
billion. In comparison, 2010 had witnessed a
total of 101 inbound deals, of which, there
were 50 transactions with announced values
totaling almost $8.4 billion.
The largest inbound M&A deal
by value announced during 2011 was
Vodafone’s March 2011 buyout of the Essar
Group’s stake in mobile phone services firm
Vodafone Essar for $5.46 billion. The second
largest inbound deal during the year was the
acquisition of BPO firm Intelenet by UK’s
Serco Group for an estimated $630 million,
followed by International Paper’s
acquisition of a 75% stake in publicly
listed Andhra Pradesh Paper Mills for $388
million. US-based companies, followed by
English and Japanese firms, were the leading
acquirers of Indian companies during 2011,
the Venture Intelligence data showed.
The volume of outbound deals
– i.e., Indian companies acquiring overseas
companies/assets - dipped by about 35%
year-on-year to 127 deals in 2011 compared
to 194 such transactions in the previous
year. Among these, there were 62 deals with
an announced value of $9.9 billion (against
104 such deals worth $23.7 billion during
2010). In the largest outbound deal, Mundra
Port & SEZ acquired the Abbot Point Coal
Terminal in Queensland, Australia for $2
billion. In another major outbound
acquisition GVK Power & Infrastructure
acquired various Australia-based coal mines
from the Hancock Group for $1,260 million.
The domestic segment witnessed 333 deals
during 2011, compared to 337 such deals
during 2010. Of these, there were 108 deals
with an announced value of $6.1 billion
during 2011 compared to 142 deals worth $34
billion during 2010.
For more information:
http://ventureintelligence.blogspot.com/2012/01/inbound-m-deal-volumes-surge-by-30-in.html
https://www.ventureintelligence.com/malogin.php
AZB &
Partners, E&Y Top League Tables for 2011
Corporate law firm AZB &
Partners and Ernst & Young have topped the
Venture Intelligence India League Tables for
2011. Ernst & Young – which advised a total
of 93 qualifying transactions - topped the
League Tables as the Most Active Transaction
Advisor (both PE and M&A) for the year.
Among legal advisors, AZB topped the tables
in both the PE and M&A categories advising a
total of 73 deals during the year. Both
these firms had topped the league tables for
the year 2010 as well.
The Venture Intelligence
League Tables, the first such initiative
exclusively tracking transactions involving
India-based companies, are based on volume
of PE and M&A transactions advised by
Transaction and Legal Advisory firms.
For more information:
http://ventureintelligence.blogspot.com/2012/01/azb-partners-e-top-league-tables-for.html
https://www.ventureintelligence.com/league.htm
Eli Lilly, Jubilant break off
JV to develop molecules
US-based drug maker Eli
Lilly & Co and Noida-based Jubilant
Life Sciences have called off their
50:50 drug-discovery JV to develop molecules
across several therapeutic areas, reports
Economic Times. Vanthys Pharmaceuticals,
the Bangalore-based JV entity, was formed in
late 2008 between Jubilant Life Sciences'
wholly-owned subsidiary Jubilant Biosys and
Lilly. It was to develop molecules from the
pre-clinical to phase II stage across
oncology, diabetes and cardiovascular
segments.
The JV was terminated a few
weeks ago and Jubilant may buy back Lilly's
shareholding in the venture. Jubilant Biosys
is expected to absorb the two dozen-odd
employees, mostly scientists working at the
center.
http://economictimes.indiatimes.com/articleshow/11622857.cms
IKEA to withhold India entry
over sourcing rules: report
Sweden's IKEA, the world's
biggest furniture retailer, is withholding
its entry into India because of rules
applied to sourcing local products, reports
Indian Express. India's requirements
that single-brand retailers source 30% of
their goods from local SMEs is an obstacle
to its investment, it has been reported.
http://www.indianexpress.com/news/IKEA-to-withold-India-market-entry-over-sourcing-rules--FT/902989/
L&T, Schneider chiefs hold
talks
L&T Chairman AM Naik
held an hour-long talk with Jean
Pascal Tricoire, President and CEO
of Schneider Electric, last week, reports
DNA India. Schneider was among the two
companies – the other being US-based Eaton
Corp— very interested in buying out L&T’s
electrical & electronics division last year.
Talks had not fructified then over valuation
issues and strong opposition from staff.
http://www.dnaindia.com/money/report_l-and-t-schneider-chiefs-meet-talk_1641459
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