India-based air conditioner coil maker Lloyd Electric & Engineering Ltd. (LEEL) has announced the acquisition of Luvata Czech s.r.o. in Prague, a former Czech facility owned by Luvata, for an undisclosed sum.
The company said in a regulatory filing on Wednesday with the Bombay stock Exchange that it has created a special purpose vehicle Lloyd Coils [...]
Singapore based Parkway Health, a company owned by private equity fund Texas Pacific Group, is said to be a front-runner for a 25-30 per cent stake in Bangalore-headquartered Manipal Health Systems, The Economic Times reported, quoting sources. The deal could be worth Rs 500 crore, the report said.
In September 2006, Manipal Health raised Rs 90 [...]
New York-based Holding Capital Asset Management, which has acquired a minority stake in hedge fund RKC Capital, is currently in the process of forming an India-focused micro and small-cap hedge fund. According to a report, the asset management firm is going to appoint a local manager for the fund and is also on the lookout [...]
The Omidyar Network, a philanthropic investment firm founded by former eBay co-founder Pierre Omidyar and his wife Pam, has announced a three-year, $9-million, grant to Seattle-based Unitus. This will help the US based microfinance funding institution to expand globally. This is the second grant Unitus has received from the Omidyar Network. In 2005, the organisation [...]
South Africa based private equity firm Rand Merchant Bank (RMB) Private Equity has invested $10 million in Lizer Cylinders Ltd, a company that manufactures CNG cylinders. Vishal Ramsinghani, Managing Director, Lizer Cylinders, said that the funds raised would be utilised to expand the company’s manufacturing capacity from current level of 200,000 to 400,000 CNG cylinders [...]
Argonaut Private Equity is reportedly inceasing its stake in Chennai-based telecom equipment maker Midas Communications, a company incubated by alumni of IIT Madras. Business Standard reports that Argonaut may invest Rs 12 crore into the company, which has drawn up a Rs 100 crore expansion plan. In 2003, Argonaut had invested $10 million in Midas.
The [...]
It may be better to be late than never for American telco AT&T. After exiting India in 2004 by selling of its stake in Idea Cellular (then called Birla AT&T), the telecommunications giant is reportedly looking at re-entering the India’s fast growing mobile telephony market via a stake acquisition. AT&T is in talks with Malaysia’s [...]
The government has announced tighter intra-circle M&A norms for telecommunications services business. The new guidelines mandates prior approval of the Department of Telecommunications (DoT) for merger of telecom licences. The merger will be restricted to the same service area (telecom circle). Another condition is that mergers would be allowed provided that at least four service [...]
One of India’s richest persons - Wipro chairman Azim Premji - has a personal investment manager who has been managing his Rs 2,000 crore worth stock portfolio - mostly comprised of promising underavlued stocks. Now Premji wants to take this a step further - to include big ticket private equity investments too as part of [...]
Thanks everyone for the overwhelming response to the VC Circle Growth Capital Forum held in Pune on Friday. The event saw an amazing participation from over 300 attendees - comprised of leading private equity and venture capital investors, investment bankers, entrepreneurs and company executives. We had very high quality panels, enlightening presentations, and very active [...]
Here is an opportunity for micro entrepreneurs to show case their business ideas. Intellecap, in partnership with Aavishkaar Goodwell and The Financial Express, is organising a business plan competition called Srijan 2008. This is the third edition of the competition, while last year’s attracted hundreds of business plans.
Some of the winners of Srijan 2007 include [...]
VC Circle is presenting the first of its kind confluence of venture capitalists and private equity investors in Pune on April 4, 2008. It will be the largest ever gathering in Pune of investors, dealmakers and companies in and around the city and other parts of the state of Maharashtra like Nasik, Kolhapur, Aurangabad and [...]
At a time when experts have been talking about property boom coming to an end (and rising interest rates), a relatively small Delhi-based real estate firm BPTP has struck the single largest ever real estate deal in the country. The firm has bagged a 95 acre plot in Noida on the expressway for a staggering [...]
Maybe it’s time to brood for ICICI Bank CEO KV Kamath (right). The bank has become India’s first financial institution to admit that the US subprime crisis (see Wikipedia entry) has cost it dear. The credit crunch in the US has resulted in losses of about Rs 1,050 crore ($264 million) in 2007-08 for India’s [...]
When the government announces a Rs 60,000-crore debt relief package for farmers (as was done in the Union Budget 2008-09), it’s just an indication of the large market opportunity in the micro-lending sector. So if there is a large market to be tapped, you can of course expect one of India’s largest business groups - [...]
