South Asia

Private equtiy reengages with Indian MFIs

The World Bank’s International Finance Corp. (IFC) is reportedly finalizing an INR1.3 billion ($29.2 million) investment in Indian microfinance institution (MFI) Bandhan. This comes as other PE players also reconsider investments into MFIs following...

Blackstone invests in leading Indian IT park

The Blackstone Group will acquire a 37% stake in Manyata Promoters, which operates high technology park in Bangalore, India, for around $200 million. The investment is said to value the entire development at $550 million.

KKR hires former Nomura India executive director

KKR has appointed Dhiren Mehta, formerly of Nomura, as a director of its Indian operation. Mehta will work out of KKR’s Mumbai office, which is led by the Sanjay Nayar, CEO of KKR India and B.V. Krishnan, head of the private equity firm's non-banking...

IL&FS appoints banks for RMB bond issuance

Indian infrastructure investor IL&FS has selected Deutsche Bank, RBS and UBS to handle its renminbi-denominated “dim sum” bond issue in Hong Kong. The private equity firm aims to raise the equivalent of $200 million, Reuters reported.

L Capital’s fashion-forward India play

L Capital Asia, the private equity investor of luxury goods group LVMH, last week purchased a 25.5% stake in New Delhi-based Genesis Luxury Fashion, making its maiden investment in India.

Emerging markets, fewer buyouts

Asia is top of many investors'wish lists, yet it is interesting how many Western GPs and LPs refer to the region as an emerging market. To those of us living in Asia – and many others on the outside – the term seems hopelessly outdated.

Indian regulator proposes new measures for funds oversight

The Securities and Exchange Board of India (SEBI) has published draft regulations that would tighten its control over alternative investment funds (AIFs). Vehicles specializing in private equity, venture capital, PIPE, infrastructure, real estate and...

Avendus to launch fund targeting listed companies

Avendus PE Investment Advisors plans to raise a fund worth up to $200 million to target mid-size listed companies in India, Reuters reported. This would be the third fund launched by the firm, a unit of financial services player Avendus Capital.

SEBI implements new takeover rules

The Securities & Exchange Board of India (SEBI) has mandated that an investor must own at least 25% of a company in order to launch a takeover bid for that asset, up from the current 15% threshold.

Punjab National Bank to take 30% stake in MetLife India

Punjab National Bank (PNB) will take a 30% stake in MetLife India, an insurer that counts M Pallonji Enterprises, Jammu Kashmir Bank, IGE and several private equity firms among its shareholders. M Pallonji is also believed to be part-owned by GS Strategic...

Franklin Templeton to invest in Mumbai’s Kimaya Fashions

Franklin Templeton will buy a 20% stake Mumbai-based retailer Kimaya Fashions for about INR600 million ($13.5 million), The Economic Times reported, citing people familiar with the situation. The company has confirmed the investment but not the size of...

Blackstone closes in on third India power deal

In August 2010, Akhil Gupta, chairman and managing director of Blackstone India, said the private equity firm “would not hesitate” to invest $1 billion in the country’s power sector if attractive deals presented themselves.

Religare Capital acquires South African brokerage

Religare Capital Markets, the investment banking and institutional securities unit of India’s Religare Enterprises, has purchased a controlling stake in South African broker Noah Financial Innovation for an undisclosed price.

PE-backed IPOs reach four-year high in second quarter

Chinese and Indian firms contributed $2.7 billion of the $17.2 billion raised through IPOs by private equity-backed companies worldwide in the second quarter of 2011, according to Ernst & Young. The proceeds, which came from 45 offerings, represent the...