South Asia
India’s Reliance Broadcast in talks with prospective PE investors
Reliance Broadcast Network is in talks with private equity investors over the sale of INR4 billion ($87 million) in preferential shares. Asheesh Chatterjee, Reliance’s CFO, told The Wall Street Journal that the company hopes to reach agreements by the...
United Technologies may edge out PE for FirePro buyout
US-based United Technologies has reportedly emerged as the front runner to buy Bangalore-based fire-protection firm FirePro Systems for $200 million – an asset that is said to also have been courted by global private equity firms.
KKR appoints former director of India's central bank as senior advisor
KKR has appointed former director of the Reserve Bank of India (RBI) D.S. Brar as a senior advisor in India, charged with providing input on the firm’s Asia portfolio management committee.
Indian ethnic fashion retailer seeks private equity investment
Wolfensohn Capital Partners is going to sell its 8% stake in ethnic fashion retailer Fabindia. The exit comes as Fabindia looks to raise around INR2 billion from new investors.
Milestone's board to decide on Arya's successor
Milestone Capital’s board of directors will reportedly meet in the coming days to appoint a successor to CEO Ved Prakash Arya, who died last week when a coconut tree collapsed on him.
India’s SREI targets $1b infrastructure fund
SREI Infrastructure Finance plans to raise a $1 billion private equity fund to invest in areas such as roads, power and ports.
Milestone Capital's Ved Prakash Arya killed in accident
Ved Prakash Arya, managing director and CEO of Milestone Capital Advisors, died in an accident Thursday near his Mumbai home. He was 42 and is survived by his wife and two children.
China, India lead global emerging markets for PE activity
India and China accounted for 54% of private equity transactions completed in emerging countries in the first half of 2011, according to a report by the Emerging Market Private Equity Association.
India's Axis Private Equity to sell portfolio companies
India’s Axis Private Equity is reportedly negotiating the sale of Vishwa Infrastructure and Corrtech International, and plans to dilute its stake in Neesa Leisure through an IPO.
Carlyle invests $26m in Indian affordable housing firm
The Carlyle Group has committed $26 million to Value & Budget Housing Corporation (VBHC), a constructor and developer of affordable housing in India
Sequoia, Nexus invests $12 in Druva
Nexus Venture Partners and Sequoia Capital has jointly invested $12 million in a Series B round of funding in Druva, a global data protection solutions firm.
Apax among global buyouts targeting India's FirePro
Apax Partners is among the global private equity firms considering a $200 million buyout of Bangalore-based fire-protection firm FirePro Systems, India’s Business Standard reported – capital that the company itself hopes will elevate its operations...
Baring India, IDFC anchor TD Power Systems’ IPO
Baring India Private Equity and IDFC are two of five anchor investors that have together committed INR334 million ($7.2 million) to TD Power Systems ahead of its IPO. The company, which manufacturers AC generators, counts Ironwood Investment Holdings,...
Secondaries in Asia: Small beginnings
Global secondary investors are opening offices and forging relations in Asia, waiting for the trickle of deals to evolve into a healthy flow
Ascent Capital commits $45m to Karaikal Port expansion
Ascent Capital will inject $45 million into Karaikal Port as part of an INR7 billion ($153 million) expansion plan that will see a six-fold increase in the port’s capacity to 28 million metric tons. This is the port’s second round of private equity...
PE-backed Muthoot Finance seeks to raise $218m
Muthoot Finance, India’s largest gold-loan non-banking finance company (NBFC) plans to raise INR10 billion ($218 million) through the issue of listed retail non-convertible debentures (NCDs). It would follow four rival NBFCs, including Mannapuram Finance...
Reliance Communications again seeks PE buyers for tower unit
Reliance Communications is courting private equity firms and strategic investors as it seeks to sell its 95% stake in tower unit Reliance Infratel. The company has hired UBS to arrange a sale and is looking to recoup $5 billion for the asset, Reuters...
Nexus Venture Partners prepares for $250m third fund
Nexus Venture Partners will reportedly launch the fundraising process for a $250 million fund early next year. It will be the private equity firm's third vehicle.
SAIF takes minority stake in Manpasand Beverages
SAIF Partners India has invested $10 million in Manpasand Beverages, a Gujarat-based juice manufacturing and marketing company.
Tata Capital hires new VP to enhance overseas fundraising
Tata Capital has hired Joe Sovran, a former partner of Zurich based Capvent, a global and emerging Asia-focused private equity firm as a vice president.
Rabo Private Equity tipped to exit Indian edible oils producer
Rabo Private Equity is set to exit its stake in Indian edible oils producer Geepee Agri Private as Archer Daniels Midland (ADM) closes in on an acquisition of the company. Sources familiar with the situation told The Times of India that the US food processing...
Nirvana Venture Advisors backs YourNextLeap.com
Nirvana Venture Advisors has contributed an undisclosed amount to the Series A round of financing for YourNextLeap.com, an Indian internet start-up that acts as a career counselor for students. The company, which was only founded 10 months ago, will use...
PE-backed Just Dial targets $79m IPO
Indian search engine Just Dial is planning a INR3.6 billion ($79 million) IPO that will allow its private equity backers to make full or partial exits. A draft prospectus filed with the Securities and Exchange Board of India indicates that offering will...
Funds back India’s rising cleantech sector
IDFC Private Equity and International Finance Corp. (IFC), the World Bank’s investment arm, reaffirmed their commitment to India’s clean energy sector in two separate deals announced last week. The transactions come a few weeks after a UN Environment...