South Asia
Blackstone ups Financial Technologies stake to 6%
The Blackstone Group has increased its stake in financial services company Financial Technologies India to more than 6% through open market transactions.
Goldman, Temasek to part-exit Bharti Infratel via $1b IPO
Goldman Sachs, Temasek and Nomura are among the investors planning to offload part of their shareholdings in the mobile phone tower unit of Bharti Infratel, the Indian telecoms infrastructure subsidiary of Bharti Airtel, which has filed for an IPO.
Creation Investments leads $6.4m Sonata Finance round
Sonata Finance, an Indian microfinance institution (MFI), has raised INR350 million ($6.4 million) in a Series D financing round led by Chicago-based Creation Investments. Promoter Anup Kumar Singh and two existing investors in the company - family office...
India’s DesiCrew raises $1.3m from VC players
DesiCrew Solution, a rural business process outsourcing (BPO) service provider, has raised INR70 million ($1.3 million) in a Series B round from social investment manager responsAbility and Ventureast Fund Advisors India. The capital was channeled through...
IndoUS Ventures leads Vyome Biosciences Series A round Partners
Vyome Biosciences, a Delhi-based biopharmaceutical company that focuses on dermatology, has raised $3.3 million in Series A financing. The round was led by IndoUS Venture Partners, with Aarin Capital and existing investor Navam Capital also participating.
Motilal Oswal PE to set up real estate fund
Motilal Oswal Private Equity is planning to set up a real estate fund worth up to INR6 billion ($108 million). The fund will tap both institutional investors and high net worth individuals (HNWIs).
PE-backed Max India sells polypropylene film unit for $97m
Max India, which is backed by Goldman Sachs, International Financial Corporation (IFC) and Temasek Holdings, has sold its biaxially oriented polypropylene (BOPP) film division to Germany's Treofan for INR5.4 billion ($97 million). The divestment allows...
Temasek, Bain in race for TPG's Shriram Transport stake - report
Temasek Holdings, Bain Capital and Piramal Group, a conglomerate run by Ajay Piramal, are reportedly leading the race to acquire TPG Capital's 20% stake in Shriram Transport Finance Corp (STFC), one of the leading commercial vehicle lenders in India.
Carlyle, Multiples back South Indian Bank
The Carlyle Group and Multiples Alternate Asset Management have participated in a qualified institutional placement (QIP) for South Indian Bank, which raised INR4.4 billion ($80 million) from eight investors.
CLSA Capital Partners invests $15m in India's Earth Water
CLSA Capital Partners (CLSA CP) has invested $15 million for a 20% stake in New Delhi-based Earth Water Group (EWG), a water and wastewater management company.
IFC confirms $20m India energy fund commitment
International Finance Corporation (IFC), the private investment arm of the World Bank, has confirmed its $20 million investment in Nereus India Alternative Energy Fund, a vehicle focused on renewable power generation and clean technologies.
IFC considers loan for India wind power portfolio company
International Finance Corporation (IFC) may provide a $19 million loan to India’s NSL Group to support the development of a wind farm in the western state of Maharashtra. IFC already holds a 9.3% stake in the NSL subsidiary responsible for the project...
Nexus closes third India fund at $270m
Nexus Venture Partners has announced a final close for its third fund at $270 million, around $50 million more than for its previous vehicle. Investors include endowments, foundations and financial institutions across North America, Europe and Asia. All...
Warburg Pincus gets FIPB approval for Future Capital deal
Warburg Pincus has won approval from India’s Foreign Investment Promotion Board (FIPB) for a INR8.08 billion ($145 million) investment in non-bank finance company (NBFC) Future Capital Holdings.
Non-profit VC firm hires Navis director for India operations
Sachindra Rudra, former director of India operations at Navis Capital, has joined Acumen Fund, a non-profit global venture firm addressing poverty across Africa and South Asia, as the new country director.
NVP backs Indian healthcare clinics with $4.5m
Norwest Venture Partners (NVP) has invested INR250 million ($4.5 million) in NationWide Primary Healthcare Services, an Indian retail chain of primary care clinics.
Kaizen commits $4.5m to Indian school management firm
Kaizen Private Equity has invested INR250 million ($4.5 million) for a minority stake in Altus Learning, an Indian school management firm. The funding will be used to help the Gujarat-based operator expand in northern India.
Global Environment hires Sridhar Narayan for India team
Global Environment Fund (GEF), a private equity firm that targets energy, resources and environment-related assets, has appointed Sridhar Narayan as a principal within its India team.
YES Bank's Ghosh to join Motilal Oswal PE as co-CEO - report
Somak Ghosh, Group President of Developing Banking at YES Bank, has reportedly left the company to join Motilal Oswal Private Equity Advisors, the private investment arm of Motilal Oswal Securities, as co-chief executive.
IFC, Mount Kellett back India’s Jain Irrigation Systems
International Finance Corporation (IFC) and Mount Kellett Capital Management are part of a group that has agreed to invest around INR11 billion ($200 million) in Jain Irrigation Systems. The company, which manufactures drip and sprinkler systems as well...
Baring, Aditya Birla circle Anu Solar Power stake - report
Baring Private Equity Partners and Aditya Birla Private Equity are reportedly vying for a 20% stake in Anu Solar Power, in a deal that could value the Indian renewable energy player at INR5 billion ($89.6 million).
Blackstone commits $44m to Indian fragrance maker
The Blackstone Group has paid INR2.43 billion ($43.69 million) for a 33% stake in SH Kelkar & Company (SHK), India's largest fragrance and flavor company.
Olympus-backed DM Healthcare outlines India spending plans
Olympus-backed DM Healthcare, a Dubai-based healthcare services provider which gets a majority of its business in the Middle East, will invest INR15 billion ($270 million) in India. The company hopes this will help boost overall revenues by 40% to INR23...
Indiareit's CEO quits to set up own fund - report
Ramesh Jogani, CEO and managing director of Indiareit Fund Advisors, an Indian real estate fund operated by Piramal Healthcare, is reportedly leaving the company to start his own fund.