It is not getting any better for companies’ looking to control their cost of funds. The central bank, Reserve Bank of India, has taken an aggressive stance by hiking key policy tools — the repo rate and the cash reserve ratio (CRR) today. While the street expectations was that RBI would hike the rates by [...]
London & Pacific Healthcare Inc., a California-based healthcare advisory company, has acquired Mumbai-based YEN Healthcare Advisors Pvt. Ltd in an all stock deal. The acquisition has been done for an aggregate consideration of one million common shares of London & Pacific Healthcare, which amount to somewhere around $100,000-$150,000. The management stands to receive a further [...]
Religare Enterprises’ plans to get into private equity business is official. The Delhi-based broking firm has incorporated an entity for the same called Religare Venture Capital. Sunil Godhwani, Chief Executive Officer and Managing Director of Religare Enterprise, told Business Standard that they are in the process of applying to regulator SEBI for approval.
He also said [...]
Banglore-based Idenizen Smartware Pvt ltd, a technology solutions provider for the education vertical, has received venture capital funding of $2.25 million (Rs 9 crore) from NEA-IndoUS Ventures. The firm’s flagship product, SmartCampus, helps integrate all key activities of an institute on to a single, integrated software-enabled platform - from administration to student and faculty activities [...]
Unitus Inc, a US based non-profit microfinance institution, has announced the launch of Unitus Capital, a financial advisory firm that will become a conduit between social entrepreneurs and capital market investors. The company will be based in Bangalore. The firm has also announced that Unitus Capital has received a seed funding of $5.5 million from [...]
Exclusive: The US based asset management company Guggenheim Partners has acquired the control of the India fund of funds business of Thomas Weisel Partners, VC Circle has learned. Sources said that the transaction is expected to be closed by end of the year. Now Thomas Weisel International and Guggenheim Partners will jointly manage the existing [...]
Despite private equity giant Blackstone’s poor performance in stock markets, Kohlberg Kravis Roberts & Co’s (KKR) decision to go public is courageous. Buyout giant KKR has announced that it will list in New York Stock Exchange (NYSE) later this year. One of the reasons cited is that it will help the firm retain talent.
According to [...]
Erasmic Venture Fund, the Bangalore-based early stage investment firm, has become part of the global venture capital fund Accel Partners. The new entity will be called Accel India Venture Fund. All the current portfolio companies (about a dozen) and the four partners of Erasmic will be part of Accel India. Being part of a larger [...]
In a significant development, Bangalore-based early stage investment firm Erasmic Venture Fund has merged with Silicon Valley based Accel Partners, whose portfolio counts companies like Brightcove, Facebook and WalMart.com. The merged entity will form the vehicle for the India entry of the US based Accel, which currently has offices in Silicon Valley, Europe, Israel and [...]
Mumbai-based SUN-Apollo Ventures has picked up around 40 per cent stake in a Special Purpose Vehicle (SPV) of Noida-based Amrapali Group, a lesser known real estate group in North India. The stake has been picked up for Rs 300 crore ($75 million), according to a report in The Economic Times.
The SPV is developing a 200-acre [...]
Updated: Federal Bank has today informed the stock exchanges that it has acquired 4.99 per cent stake in Catholic Syrian Bank, without revealing any other details.
There seems to be a consolidation in the offing in Kerala’s banking industry. As a precursor to a complete buyout, Aluva-based Federal Bank, one of Kerala’s most well known [...]
Private Equity
Ajay Relan Exits Citi Venture, PR Srinivasan Takes Over As India Head
Citi Venture, ICICI Venture Take Hair Cut In Perlecan Pharma
CDC Group Commits $185 Million To Six PE Funds In India
India Focussed Hedge Fund Down 22% in 2008, Hedge Fund Industry Suffers Huge Losses
Donald Trump Jr Plans $1 Billion India Property Fund
ICICI Venture [...]
JM Financial Mutual Fund, the asset management arm of Nimesh Kampani-promoted JM Financial,
has sold 12 per cent stake to three hedge fund investors for Rs 111.7 crore or $26.5 million. The three investors — Valiant Capital Partners, Blue Ridge Capital and Eton Park — have picked up 4 per cent each for about Rs 151 [...]
Bennett, Coleman & Co Ltd (BCCL) has acquired a stake in Naaptol Online Shopping Pvt Ltd, owner of the shopping comparison portal naaptol.com. Naaptol was launched in January 2008, and claims to have over 10,000 listings.
Web18, the internet arm of Network18 Group, already owns CompareIndia.com, a shopping comparison portal which it acquired two years ago. [...]
Ajay Relan’s exit from Citi Venture Capital International, where he spent about 13 years, is official. Citi has issued a release that the fund in India will be headed by PR Srinivasan or popularly known as PRS. He is being designated as Managing Director (Region Head - India), Mumbai.
Prior to joining Citi in 2002, Srinivasan [...]
