South Asia
PE firms hedge their bets
Numerous private equity and hedge funds are pursuing alliances with one another in Asia. Could a multi-strategy approach be the golden strategy for the region’s investment environment?
Actis invests in Sri Lanka's Asiri Central Hospitals
Actis has purchased a 10.8% stake in Sri Lanka’s Asiri Central Hospitals for LKR604 million ($4.5 million). The emerging markets-focused private equity firm acquired 2.4 million shares in the Colombo-listed company from Softlogic Holdings, Commercial...
Actis exits Dalmia Bharat Sugar & Industries - report
Actis is said to have exited its 5.5% stake in Dalmia Bharat Sugar & Industries - formerly Dalmia Cement Bharat - for INR82.7 million ($1.5 million).
PE exits in India down by 90% in second quarter - PwC
India private equity exits fell 89% year-on-year to just $108 million in the second quarter. This came from 12 transactions, down 33%, according to a report published by PricewaterhouseCoopers (PwC).
KKR fund among AIFs to operate in India under new route
KKR’s India Alternate Credit Opportunities Fund is among seven alternative investment funds (AIFs) that have been approved by the Securities and Exchange Board of India (SEBI).
Peepul Capital makes two investments in Chennai
Peepul Capital, an India-focused private equity firm, has invested $15-25 million each in two Chennai-based companies - Consul Consolidated, a power solution company, and Cura Healthcare, a radiology equipment maker. Both investments were channeled from...
Lok Capital ups stake in Ujjivan MFI, Bellwether exits
Lok Capital has reportedly upped its stake in India’s Ujjivan Microfinance by acquiring the 7% held by microfinance investor Bellwether. Another shareholder is set to exit its stake by the end of August.
General Atlantic exits Infotech Enterprises for $36m
General Atlantic Partners – through its entity GA Global Investments – has sold 11.7 million shares, or a 10.48% stake, in Infotech Enterprises to Cyprus-based company Gagil FDI for INR2.01 billion ($36.2 million).
Goldman, NEA invest in India's Nova Medical Centers
Goldman Sachs and New Enterprise Associates (NEA) have invested INR 3 billion ($54 million) in Nova Medical Centers, an Indian surgical care and fertility clinics company. The investments will be used to expand the company's specialty surgery and fertility...
SBI, Macquarie pump $150m into Ashoka Buildcon unit
Two private equity funds managed jointly by State Bank of India and Macquarie Bank of Australia have agreed to invest $150 million in the road construction division of Indian roads and bridges operator Ashoka Buildcon.
IndoUS Ventures backs online furniture retailer
IndoUS Venture Partners has invested $1 million in UrbanLadder.com, an Indian online furniture store run by Bangalore-based Descasa Decor Online. The company will use the capital to enhance its technology and customer service infrastructure.
Tata Capital in talks with PFC to launch $1b PE fund
Tata Capital is reportedly in talks with India’s Power Finance Corporation (PFC) to launch a $1 billion private equity energy fund. The private equity player will own 49% of the joint venture, with the remainder held by PFC. Around $300 million is expected...
India Innovation Fund invests in India's iKen Solutions
India Innovation Fund (IIF) has invested in iKen Solutions, a research spin-off of The Indian Institute of Technology in Bombay. The investment will be used to scale up the company’s execution and commercialization capabilities.
Shareholder revolt at Actis-backed Halonix - report
Shareholders at halogen bulb and lamp manufacturer Halonix have reportedly complained to India’s market regulators that the company has violated the country’s Foreign Exchange Management Act.
StanChart PE invests $15m in IFC-backed Craftsman Auto
Standard Chartered Private Equity (SCPE) has invested INR850 million ($15.4 million) for a minority stake in Craftsman Automation, a Coimbatore-based multi-product engineering company. Craftsman Automation will use the money to expand its manufacturing...
Mercatus invests in India's PurpleStream Convergence
PurpleStream Convergence, a Chennai-based video streaming services provider, has raised funding from Mercatus Capital and content producer Hub Media.
Bain in bumper $1b deal for India's Genpact
Indian business process outsourcing (BPO) firms, once a prime target for private equity investment several years ago, have inevitably become a hive of exit activity. The Blackstone Group last year sold its 66.25% stake in Intelenet Global Services to...
Accura Infotech in talks to raise $36m from PE firms
Mumbai-based Accura Infotech, which installs automated teller machines (ATMs), is in advanced talks with private equity investors to raise up to INR2 billion ($36 million) to set up and operate ATMs for public sector banks in Uttar Pradesh. The company...
Motilal Oswal PE in $87m second close on new fund
Motilal Oswal Private Equity has reached a second close of INR4.86 billion ($87 million) on its India Business Excellence Fund II, with Squadron Capital reportedly among the investors. The fund is expected to achieve a final close by the end of the year....
L Capital signs up Indian designers for new fashion venture
L Capital is in talks with India’s top designers and Evoluzione, a local retailer, to set up a fashion venture which will consolidate separate designer names. The PE player, part of luxury group LVMH, will invest INR2 billion ($35.9 million) in the entity....
INFUSE Ventures launches cleantech incubation program
Indian Fund for Sustainable Energy Ventures (INFUSE Ventures), an early-stage fund focused on sustainable energy and cleantech, has launched a program in the Indian Institute of Management Ahmedabad to foster start-ups that require seed capital.
General Atlantic denies Snapdeal interest - report
General Atlantic says it never entered into talks with Snapdeal in what would have been the private equity firm’s first foray into Indian e-commerce.
India's Vistaar receives $7m from VC players
Bangalore-based small enterprise financing company Vistaar Financial Services has raised INR400 million ($7.1 million) in Series B funding from Lok Capital and Omidyar Network as well as existing investors Elevar Equity and SVB Capital Partners.
Baring, ICICI Venture plan Karvy exit – report
Baring Private Equity Asia and ICICI Venture Funds Management, the private equity arm of India’s ICICI Bank, are reportedly in talks to sell their 31% stake in Karvy Stock Broking (KSBL).