Intex Technologies, a Delhi-based IT hardware and electronics company, is a classical growth capital firm. It started as a small-time importer of ethernet cards in 1996. Ten years later, Intex is an ‘almost’ household name, a nationwide distributor and marketer of a whole range of products like computers, computer peripherals, audio products, power solutions and [...]
General Electric is reportedly selling its consumer finance business, Ge Money, in India. The company has hired investment bank Morgan Stanley to find a buyer or a strategic partner, reports The Economic Times, quoting sources. Apparently, the unit has generated interest from the Reliance ADAG group-owned Reliance Capital and Indiabulls Credit Services, which already has [...]
ICICI Venture has made its fourth investment in a hospital. I-Ven Mediacare, the special purpose vehicle of the Mumbai based private equity fund, has invested $24 million (about Rs 95 crore) in Mysore-based Vikram Hospital (VHPL) for a “substantial” stake. The hospital chain plans a pan Karnataka footprint through a mix of greenfield and brownfield [...]
Power sector services firm PTC Ltd, formerly Power Trading Corporation, is now setting up a mega $1 billion fund to acquire coal assets overseas. PTC would hold 30 per cent stake in the separate arm which would then raise funds from other investors (sources tell this could include some large PE funds) to buy coal [...]
Forbes has released its Midas List of venture capitalists. L John Doerr of Kleiner Perkins, Caufield & Byers, heads the list, which is a popular ranking of venture capitalists in the world (not based on any quantitative methodology, though). Doerr was number two last year. He made it to the top for his affinity for [...]
We had earlier reported about New Vernon Private Equity investing Rs 55 crore in Mumbai broking firm Prime Securities. Besides New Vernon, ICG Q Ltd, a fully-owned subsidiary of India Capital Growth Fund Ltd (ICGF), is also picking up a minority stake in the firm. Prime would allot 2.07 million equity shares on a preferential [...]
Advertorial: The Entrepreneurship Cell at IIT Bombay is organising Entrepreneurship Summit 2008 on February 10, 2008. E-Summit serves as a social forum for the entrepreneurial Community, bringing together aspiring entrepreneurs, start-ups, successful entrepreneurs, venture capitalists, industrialists and academicians on a common platform to interact and help build successful enterprises. E-Summit ’08 commemorates the Golden Jubilee [...]
Elbee Express, a three-year old express delivery company mainly focused on corporate segment in India, has landed a total of Rs 25 crore ($6.25 million) in series A investment from venture capital firm Clearstone Venture Partners and leading stock investor Rakesh Jhunjhunwala. This is the first pure play “venture” capital investment in a logistics [...]
The $24-billion AV Birla Group has made its first investment in the private equity space, albeit a small investment in a publicly listed company. TGS Investment & Trade Pvt Ltd, an arm of the private equity division of the Mumbai based business house, has picked up nearly 5 per cent stake in Core Projects & [...]
WPP, the global advertising giant, continues with its acquisitions in India. WPP’s Indian entity JWT has acquired a majority stake in Encompass Events Pvt Ltd, a brand activation agency headed by Roshan Abbas. The financial details of the deal are not known. The Delhi-based Encompass employs about 240 people, and also has offices in Mumbai, [...]
GVFL Ltd, formerly known as Gujarat Venture Finance, has made investments in two companies - Rs 4 crore ($1 million) in VMukti Solutions Pvt Ltd, an IIM Ahmedabad startup, that has developed a collaborative conferencing product, and Rs 2.5 crore ($625,000) in Baroda based Century Pharmaceuticals Ltd.
VMukti, incubated at IIM A’s Center for Innovation Incubation [...]
As the airline cargo business is about to kick off in India, the Tata group’s private equity arm Tata Capital has picked up stake in Bangalore based cargo airline Quickjet Cargo, reports Mint. The terms of the deal are not known. Quickjet, founded as a joint venture between Mumbai based AFL Logistics and Singapore based [...]
Construction firm BL Kashyap’s wholly-owned real estate arm Soul Space Projects is looking to raise Rs 250 crore ($62.5 million) through a private placement. This would be used as a part of its plans for investing Rs 1,400 crore over the next three years to set up various projects. According to an agency report,
the firm [...]
Gulf is known for everything not so green - such as depleting oil resources, fast cars which consume gallons of petrol that are sold at 1/5 of the Indian prices, large concrete buildings (probably built without any environmental planning) and so on. That perception may change. Abu Dhabi, one of the seven states of the [...]
New York-headquartered hedge fund BlackRock Inc has acquired the 40 per cent stake held by Merrill Lynch in mutual fund DSP Merrill Lynch Fund Managers Ltd (DSPML). This is the first investment by BlackRock, the world’s fifth largest asset manager in India which manages $1.3 trillion worth assets. The remaining 60 per cent will continue [...]
