Exclusive: Ajay Relan, the former Managing Director of Citigroup Venture Capital International (CVCI) in India, is believed to have roped in Morgan Creek Capital as an anchor investor in his soon-to-be floated private equity fund. The US-based investment firm is said to be investing $100 million in Relan’s fund, independent sources told VC Circle.
Sources also [...]
Bangalore-based early stage technology focused venture capital firm Ojas Venture Partners has made a venture capital investment in city based Mango Technologies. The company provides application framework and user interface solutions to ultra-low cost phones (below Rs 2,000). Mango has developed a thinnest modular application & UI framework, which considerably reduces engineering effort and time [...]
Private equity firm New Silk Route Advisors has bought the UK investment group Dawnay Day’s stake in its Indian business, Dawnay Day AV India for about Rs 200 crore, reports Mint. The sale includes Dawnaday International’s 50 percent stake in the Indian venture and the employee trust’s 25 percent holding as well. The deal includes [...]
Bangalore-based online DVD rental company Seventymm Services Pvt Ltd has received $12.5 million (Rs 50 crore) from NEA Indo US Ventures. This will be the third round of funding for Seventymm, which now has a total capital of around $22 million. While DFJ with ePlanet Ventures had invested $2 million in 2005, the rest was [...]
Mergers & Acquisitions
Kirloskar Acquires Two Companies In Germany: Kirloskar Electric Co. has picked up
stakes in two German firms. It will buy about 95 per cent in German manufacturing firm Lloyd Dynamowerke GmbH & Co and 100 per cent in Lloyd Beteiligungs GmbH from CMP Fonds I GmbH. The acquisitions will be done through its wholly [...]
Matrix Partners India has made a Series-A investment of $7 million (Rs.30 crores) in pre-school educator Tree House Education and Accessories Pvt. Ltd. Mumbai-based Tree House claims to be the largest non-franchised, branded pre-school educator in the country and currently operates more than 45 pre-schools in Mumbai. With the current round of funding, Tree House [...]
Ambit Holdings Pvt. Ltd., Ashok Wadhwa’s financial services arm, has appointed Nikhil Puri as he Managing Director for Ambit Corporate Finance. Ambit Corporate Finance is a mergers and acquisitions advisory firm. Puri was previously working as Managing Director in the Global Industries Group. There his work involved accomplishing client and coverage related responsibilities across [...]
Chennai-based Basiz Fund Services Pvt Ltd, a KPO offering investment accounting services for mutual, hedge and private equity funds, has recieved $2 million (Rs 8.5 crore) in funding from NEA-IndoUS Ventures. Basiz has offices in Chennai, Mumbai and Dubai and is a subsidiary of recently listed Vishal Information Technologies Ltd. Vishal is in turn a [...]
The board of Balaji Telefilms Ltd has approved an agreement with Rupert Murdoch’s Star Group, under which their agreement entered in 2004 has been terminated. Under the 2004 agreement, Star had bought 26 per cent stake in Balaji through its affiliate Asian Broadcasting FZ-LLC (ABF) for Rs 123 crore.
Also Balaji has agreed to [...]
Policy
Cap On Single Holding In Exchanges Go To 15% - Market regulator SEBI is examining a proposal to raise the equity holding limit in stock exchanges from 5 per cent to 15 per cent. The revised cap would be applicable for single investors, both local and foreign, reports Economic Times. The proposal is being examined [...]
Indian venture fund Nexus India Capital Advisors has raised its second fund of $220 million. Nexus, which has fully committed its first fund of $100 million raised in 2006, will retain its policy of investing in early stage companies in the second fund too, Suvir Sujan (right), Co-founder and Managing Director of Nexus India Capital, [...]
International Finance Corporation (IFC), the private equity arm of the World Bank, has exited its investments in Dabur Pharma with 41 percent return (not factoring in dividend payout) over a three year period. This translates into a compounded annual growth rate of 12.31 percent.
The exit is believed to be linked to the open offer by [...]
Milestone Capital Advisors, the private equity fund which was till now focused on the real estate and infrastructure sector, has launched $150 million (Rs 600 crore) India Build Out Fund-I (IBF-I), which will invest in sectors such as education and media & entertainment. The fund also has a green shoe option of $50 million (Rs [...]
One of the world’s largest law firms, UK-based Clifford Chance, has recruited Rahul Guptan, a senior partner from India’s leading law firm Amarchand & Mangaldas & Suresh A Shroff & Co. Guptan was heading the firm’s capital markets practice. He also has experience in takeovers, privatisation, joint ventures, private equity investments and general corporate law. [...]
Call it India’s Communications Revolution V 2.0. After the government came out with norms for the launch of next generation phone services through 3G, now it is also on the verge of fully ushering in internet telephony in the country. The telecom regulator has removed restrictions on net telephony which allows internet service providers (ISPs) [...]
