South Asia
Indiareit completes property exits, targets new fund
Indiareit Fund Advisors, the real estate PE arm of Piramal Enterprises, has raised INR4.4 billion ($80 million) on exiting three of its investments and is now preparing to raise another offshore fund worth up to $350 million.
IDFC PE’s Parag Milk Foods seeks to double capacity
Parag Milk Foods, the Indian dairy company that received a INR1.55 billion ($28.7 million) investment from IDFC Private Equity in September, plans to double its capacity by expanding existing production plants and setting up new facilities. It currently...
Samara Capital acquires NewsWire18 for $16.5m
Samara Capital has entered an agreement to purchase a majority stake in Indian news terminal business NewsWire18 for INR900 million ($16.5 million).
Helion, Footprint invest $6m in restaurant chain Mast Kalandar
Helion Venture Partners is leading a third round of investment in quick service restaurant (QSR) chain Mast Kalandar, which is run by Bangalore-based Spring Leaf Retail.
AVCJ to host India webinar on December 12
AVCJ is hosting a webinar on December 12 focusing on the opportunities and challenges facing Indian private equity. The free online event is being run in partnership with KPMG.
Tata Capital acquires stake in Pluss Polymers
Tata Capital has acquired a stake in Pluss Polymers for INR150 million ($2.7 million). The investment was made through the Tata Capital Innovations Fund and is intended to help the company, a specialized polymer maker, to further its R&D and manufacturing...
VCs back $8m Series B round for Shubham HDFC
Accion and Saama Capital have jointly invested $4 million in India's Shubham Housing Development Finance Company. The venture capital firms join existing investors Elevar Equity and Helion Venture Capital in a second round of funding worth $8 million...
L Capital-backed PVR to buy Cinemax India
PVR, a cinema chain backed by L Capital, will pay INR5.43 billion ($99 million) for a majority stake in domestic rival Cinemax India.
IFC invests $25m in Quadria Capital’s healthcare fund
International Finance Corporation (IFC), the private investment arm of the World Bank, is planning to invest $25 million into Quadria Capital’s $300 million private equity fund. The vehicle focuses primarily on healthcare sector assets across South...
Sequoia, Canaan Partners invest $6.3m in Adnear
Sequoia Capital and Canaan Partners have invested INR350m ($6.3 million) in AdNear, a location-based mobile advertising platform, in a Series A round of funding.
Beyond banks: Alternative financing in India
Recognizing India’s demand for financial products that involve more than just equity, traditional PE firms are targeting structured credit, joining distressed players that used to call the territory their own.
Power play: India’s power sector
Private equity investors are less bullish on India’s power sector in the light of widespread negative investor sentiment, but lower valuations and long-term fundamentals still offer attractive entry points
India exits: Sticking point
India’s private equity industry is caught in a bind: LPs are wary of committing capital to GPs without evidence of exits, but weak capital markets – and in some cases an unwillingness to sell – are limiting liquidity
Q&A: Everstone Capital's Sameer Sain
Sameer Sain, co-founder and managing partner of Everstone Capital, on exit channels, areas of interest for investments and taking foreign companies into India
Indian PE: Time to return?
We are proud to be hosting the 13th annual AVCJ Private Equity & Venture Forum India in Mumbai this year. The sentiment for the 2012 event seems somewhat different from previous years. Obviously, we all know that private equity in India is in a state...
IDFC Alternatives invests $18m in Manipal Servicecorp
IDFC Alternatives has invested INR1 billion ($18million) in Manipal Servicecorp, a Manipal Group subsidiary that offers housekeeping and catering services to student hostels.
Patni brothers buy stake in Grameen Capital India
Amit and Arihant Patni, the brothers who set up internet-focused VC firm Nirvana Venture Advisors, have acquired a stake in Grameen Capital India (GCI) from its original investor IFMR Trust. The transaction is said to represent a first-of-its-kind exit...
PE-backed Bharti Infratel set for IPO next month – report
Bharti Infratel, the Indian telecoms infrastructure subsidiary of Bharti Airtel, is expected to launch its $900 million IPO next month. The intended flotation – which has been mooted for more than a year – will be the country’s largest in two years...
CDC to invest $1b in India via LP, direct commitments
CDC Group, the UK government’s development finance arm, plans to commit $1 billion to India over the next 4-5 years, with nearly half of it coming through direct investment. The projection is in line with a wider adjustment in CDC’s mandate that will...
Abraaj-backed Network International buys Indian remittance firm
Abraaj Capital-backed Network International has acquired a majority stake in TimesofMoney, an India-based online remittance company.
India Infoline fund invests $20m in Gurgaon, Mumbai projects
India Infoline (IIFL) has invested INR1.1billion ($20 million) in two residential projects in Mumbai and Gurgaon, through its IIFL Domestic Series I fund.
IncuCapital backs genetic diagnostic start-up
IncuCapital, an incubation and early-stage investment firm, has invested an undisclosed amount in Mumbai-based genetic diagnostics and research start-up Navigene Genetic Science. IncuCapital’s Surojit Nandy will join the Navigene board.
One97 Mobility Fund backs Indian mobile payment player
One97 Mobility Fund has invested an undisclosed amount in Mobiswipe Technologies, a mobile payment solution provider based in Mumbai.
Matrix India invests in Mewar Orthopaedic
Matrix Partners India has taken a minority stake in specialty healthcare provider Mewar Orthopaedic Hospitals for an undisclosed amount as part of a Series A round of investment.