South Asia
Warburg Pincus, IFC commit $50m to Au Financiers
Warburg Pincus and International Finance Corp. (IFC) have jointly invested $50 million in Au Financiers, an Indian non-banking finance company. IFC’s participation means its stake in the company will remain the same, while Motilal Oswal Private Equity,...
ADIA to seek direct deals in India’s property sector
Abu Dhabi Investment Authority (ADIA) plans to make direct investments into Indian real estate rather than operate through third-party private equity and property fund managers.
Kotak, ICICI, Intel-backed MCX makes solid debut
Multi Commodity Exchange of India (MCX), the first Indian exchange to get listed, had a strong debut on Friday, with its shares closing up 26% on the Bombay Stock Exchange.
Craftsman Automation seeks $20m from PE investors
Coimbatore-based auto component manufacturer Craftsman Automation is in talks with private equity investors to raise a corpus worth between INR850 million and INRI billion.
Morgan Stanley invests $90m in Mumbai project
Morgan Stanley Real Estate Investment (MSREI), the real estate fund of global investment bank Morgan Stanley, has invested in a $90 million Indian realty project owned by Sheth Developers.
India Venture Advisors backs drugs manufacturer
India Venture Advisors, the healthcare and life sciences-focused private equity fund founded by Ajay Piramal and former State Bank of India (SBI) chairman A K Purwar, has invested INR700 million ($13.8 million) in drug manufacturer Vardhman Chemtech.
Indian VC’s social imperative
Social venture capital funds have sprung up in India under the notion that they can support marginalized communities and achieve financial returns. Time will tell if this is possible.
Warburg Pincus and GA in talks to invest $200m in Aegis
US-based Warburg Pincus and General Atlantic (GA) are in talks to invest as much as $200 million for a stake in Aegis, the IT services arm of Indian industrial conglomerate Essar Group.
Ascent invests $10m in Indian online grocery store
Ascent capital has committed $10 million to a series A funding round for Bigbasket.com, an Indian online grocery store. The transaction is said to be the largest ever Series A round for an e-commerce company as well as the first institutional investment...
L Capital to invest $150m in Raymond Apparel - report
L Capital Asia, the private equity arm of LVMH, the world's largest luxury goods group, is said to be in talks to invest INR7.5 billion ($150 million) in Indian clothes company Raymond Apparel.
VC-backed Komli Media bolts on Admax
Komli Media, the Indian media technology company backed by Norwest Venture Partners, has completed the bolt-on acquisition of digital media network.Admax.
Gaja backs Indian auto sales network
Gaja Capital Partners has committed INR850 million ($17.3 million) to Carnation Auto, India’s largest independent multi-brand auto sales and service network. The capital will be used to consolidate Carnation’s service business and expand its secondhand...
Avigo-backed Spykar on the block
Avigo Capital Partners has put Spykar Lifestyle up for sale. The private equity firm, which targets investments in small- and medium-sized enterprises, acquired a 60% stake in the Indian apparel chain less than a year ago.
Premji invests $25m in Fabindia
Premji Invest, the $1 billion private equity vehicle backed by Wipro Group chairman Azim Premji, has invested INR1-1.25 billion ($20-25 million) for a 7% stake in Indian fashion company Fabindia.
Accel and Tiger Global boost Zansaar with $6m
Accel Partners and Tiger Global have invested $6 million in Bangalore-based e-commerce start-up Zansaar.com to support the brand’s organic growth.
JSM Corp seeks $30m in PE funding
JSM Corp., the Indian franchisee for Hard Rock Café, California Pizza Kitchen and Trader Vic’s, is hoping to raise INR1.2-1.5 billion ($24 million -$30 million) from private equity investors.
Indiareit to launch $500m India fund
Indiareit Fund Advisors, a real estate investor backed by Indian entrepreneur Ajay Piramal, is planning to launch a $500 million offshore fund that will invest in domestic development projects.
Citigroup sells $1.9b stake in Carlyle-backed HDFC
Citigroup has sold its 9.85% stake in India’s largest mortgage lender Housing Development Finance Corp (HDFC) for $1.9 billion. The deal comes three weeks after The Carlyle Group sold part of its stake in the company for a 2x money multiple.
Tano, TVS, Wolfensohn back Development Credit Bank
Tano Capital, TVS Capital and Wolfensohn Capital Partners will between them purchase a 10.34% stake in India’s Development Credit Bank for INR1 billion ($20.4 million). They are paying INR47.84 per share, a 1.89% premium to the company’s closing price...
IDFC PE injects $30m into Staragri Warehousing
Infrastructure investor IDFC Private Equity has led a INR1.5 billion ($30 million) funding round for Indian agri-services provider Staragri Warehousing and Collateral Management.
Red Fort boosts 3C Gurgaon project with $30m
Private equity firm Red Fort Capital Advisors has injected INR1.5 billion ($30 million) into a residential project designed by developer 3C Company in New Delhi, India.
IncuCapital backs EFactor’s expansion in India
IncuCapital has reached an agreement to launch EFactor, a major global entrepreneurial community platform, in India, in a bid to generate business network opportunities for local entrepreneurs.
Asia’s aspirational brands: It’s how you pick ‘em
Should we be surprised that L Capital, the private equity arm of luxury goods giant LVMH, thinks its Asia operations have the capacity to handle a $1 billion fund? Given the scale of consumer sector opportunities in the region, not really. But a more...
High India pharma valuations price PE firms out of the market
With strategic investors drawn to India’s rapidly growing pharma sector, private equity players must either go niche or get out