South Asia
Indian property developers turn to private equity
Indian property developers will borrow about $1 billion from private equity funds this fiscal year as banks cut back on lending, according to Knight Frank. PE funding to the sector came to INR12 billion ($252 million) in the last three months and the...
J.P. Morgan eyes $400m investment in SKIL Infrastructure
A J.P. Morgan Chase-backed fund will pay approximately $400 million for a nearly 20% stake in Mumbai-based SKIL Infrastructure, an infrastructure project developer with assets including ship maker Pipavav Defence – formerly Pipavav Shipyard - and Offshore...
Apax in talks with another Indian FMCG firm
Apax Partners is considering an up-to $150 million investment in Indian fast-moving consumer goods company CavinKare, The Business Standard reported, coming as the UK-based firm nears a stake acquisition in another domestic FMCG player, Jyothy Laboratories,...
PE investment outpaces IPO fundraising by 60% in last six years - report
Private equity and venture capital investment in India reached nearly $50 billion in the last six years compared to $31 billion raised through IPOs during the period, according to a report published by Grant Thornton and the Indian Private Equity and...
India's TD Power gains 7% on trading debut
TD Power Systems - which counts Baring India Private Equity, IDFC, Sequoia Capital and Ironwood Investment among its anchor investors – saw its stock rise 7% on its trading debut in Bombay. This comes after the company raised INR2.27 billion ($49 million)...
South African insurer to buy 26% stake in Shriram Capital
Some private equity investors in Shriram Capital (SCL) will be granted an exit opportunity as a result of South African insurer Sanlam’s acquisition of a 26% stake in the company. The deal is estimated to be worth INR20 billion ($430 million), with...
SAIF Partners India backs Manpasand Beverages
SAIF Partners India has invested $10 million in Manpasand Beverages, a juice maker and distributor based in Vadodara. The deal is the latest in a string of private equity transactions in India’s food and agriculture space, The Economic Times reported.
Aditya Birla nears second fund close
The PE division of Indian financial services group Aditya Birla Group, Aditya Birla Capital Advisors, has reached a first close on its second private equity vehicle, Sunrise Fund, at INR2.2 billion ($48 million).
Apollo plans India launch
Newly listed private equity major Apollo Global Management is set to enter India, and may earmark up to $1 billion for the market
Milestone appoints Arya's wife, brother to board of directors
Milestone Capital has inducted the wife and brother of late managing director and CEO Ved Prakash Arya (pictured) onto its board of directors, coming as an executive committee looks to replace Arya weeks after his accidental death.
LVMH, PE compete for Amanresorts
LVMH Group is competing with unnamed private equity firms to acquire luxury Southeast Asia-based hotel chain Amanresorts International, Bloomberg reported, in a deal that could be worth $450 million.
WestBridge looks to exit portfolio companies of yesteryear
WestBridge Capital – which was re-launched by its original founders in February - is looking to exit portfolio companies in which it invested prior to merging with Sequoia. According to India’s Business Standard, this includes stakes in Indecomm Global,...
IFC invests $29.6m in MFI Bandhan Financial
The International Finance Corp. (IFC), the investment arm of the World Bank, has acquired nearly 11% of microfinance firm Bandhan Financial Services for a reported INR1.35 billion ($29.6 million). The deal first came to light last month.
Indiareit Fund invests in luxury residential project in Mumbai
Indiareit Fund Advisors, a private equity real estate fund backed by Indian entrepreneur Ajay Piramal, has reportedly invested INR2 billion ($43.8 million) in a luxury residential project in Mumbai, which has been developed by Omkar Realtors and Developers.
Investigators seek details on all DE Shaw India deals – report
Indian investigators probing alleged foreign exchange irregularities relating to an investment made by DE Shaw have asked the Foreign Investment Promotion Board (FIPB) for details of all domestic entities that received funding from the private equity...
PE-backed spices firm VKL in talks with Olam
Indian spices processor Vallabhadas Kanji (VKL), of which Argonaut Private Equity and Ascent Capital are minority backers, is close to securing a strategic investment agreement with agricultural commodities giant Olam.
NEA considering Flipkart investment - report
NEA, the US venture capital firm is considering an investment in Bangalore-based Flipkart, an online retailer of books, mobile phones and other consumer goods. Investment bankers familiar with the situation told The Business Standard that the company...
Tenaya Capital leads SMS GupShup’s $10m Series E round
San Francisco-based venture capital firm Tenaya Capital has led the $10 million Series E round of financing for SMS GupShup, an Indian social networking company. The company plans to use the funds to add new senior management who can help it expand and...
Insecticides India seeks $15m in expansion capital
Insecticides India hopes to raise around INR700 million ($15.3 million) through a qualified institutional placement of shares of a private equity round of financing to support its expansion plans. Rajesh Aggarwal, the company’s managing director, said...
ChrysCapital accumulates 7.2% stake in NCC
ChrysCapital has bought a 7.2% stake in NCC, an Indian construction company backed by Blackstone Group, for INR1.37 billion ($30 million). The purchases – 18.5 million shares in total – were made on the open market by ChrysCapital unit Warhol between...
Private equity's fashion fix
When it comes to capitalizing on rising disposable incomes in key Asian markets, investors are finding the region’s fashion and lifestyle segment in vogue
Carlyle backs Indian affordable housing firm
The Carlyle Group's $26 million commitment to Value & Budget Housing Corporation (VBHC) last week is significant in that it marks the affordable housing developer’s graduation to the investment mainstream. The company was founded in 2009 by what Shankar...
KKR among suitors for India's Future Group
KKR has emerged as one of the key suitors for Future Capital Holdings, the financial services division of India’s Future Group. It joins JP Morgan and Piramal, the healthcare, manufacturing and real estate conglomerate, according to Reuters.
Beacon, Mirah Hospitality back Indian fine dining chain
Beacon India Private Equity has invested INR80 million ($1.7 million) in Impresario Entertainment and Hospitality, which operates fine dining restaurants Mocha and Smoke House Deli. The firm’s contribution comes alongside a INR400 million commitment...