South Asia
IDFC takes minority stake in GVR Infra
IDFC has invested INR150 crore ($40 million) into GVR Infra Projects, an unlisted engineering and construction firm, for an undisclosed significant minority stake.
Strategic Ventures sees 4x return on CBaySystems stake sale
Strategic Ventures Fund (SVF), a Mauritius-based private equity fund managed by Frontline Strategy Limited, has sold its stake in in Indian clinical-services outsourcing specialist CBaySystems, for a 4x return on its original investment, AltAssets reported.
Warbug Pincus begins Kotak Mahindra divestment
Warburg Pincus has begun the divestment process of its more than 9% stake in Kotak Mahindra Bank, selling a nearly 2% stake in the open market in recent months with more to come, local media reports.
GE Capital names India head
GE Capital, the investment arm of General Electric, has named Anand Trivedi as its new head in India, The Economic Times Reported.
IDG India invests $3m in mobile advertising company
IDG Ventures India has invested $3 million in mobile advertising company Vserv as part of a first round of institutional funding.
Vodafone wants PE partner for its India business
Vodafone is in talks with at least two private equity companies as it seeks a replacement for its Indian partner Essar, The Economic Times reported, citing a person involved in the discussions.
SCPE takes minority stake in PepsiCo's top Indian bottler
Standard Chartered Private Equity (SCPE) is set to pay INR250 crore ($56 million) for a 5% stake in PepsiCo’s top bottler in South Asia, Varun Beverages International, The Economic Times reported. That commitment would value the company at more than...
Trinity Capital sells stake in Indian property project back to Keystone
Trinity Capital has sold its 16% stake in Kapstone Constructions, a subsidiary of Mumbai-based developer Keystone Realtors, back to the parent company for about £12.6million ($20.2million). The sale comes five years after the UK-based real estate fund...
Apollo, ICICI Venture to launch non-banking finance company in India
Apollo Global Management and ICICI Venture are planning to launch a joint venture non-banking finance company (NBFC) in India to tap the country’s growing financial services sector, The Economic Times reported, citing people familiar with the plans.
Aureos targets $200m fund for India, Sri Lanka, Bangladesh
Aureos Capital is targeting a year-end close for a $200 million fund that will invest in India, Sri Lanka and Bangladesh. Balaji Srinivas, managing partner at Aureos India Advisers, told Bloomberg that the Aureos India Fund II would deploy around 15%...
Fairfax unit, headed by Raghavan, seeks Indian investments
Fairfax Financial Holdings is targeting minority or controlling stakes in listed and unlisted companies in India. Investments will be made through its subsidiary Fairbridge Capital, Mint reported.
India's Globals ITes receives first round of strategic funding
Globals ITeS, a Hyderabad based company that develops technology solutions for the education industry, has received funding from Mauritius-based Encore Operating Partners and 1886 Investments, an investment unit of the UK's Commonwealth Education Trust....
TLC Capital boosts stake in Uganda-based Indian pharma JV
TLG Capital has increased its stake in Quality Chemicals Industries(QCIL), the Uganda based pharmaceutical manufacturer owned by India’s leading pharmaceutical company CIPLA and Uganda-based Quality Chemicals.
Karbonn seeks PE suitors for 15% stake
India's Karbonn Mobiles is looking to sell a 15% stake to private equity buyers for INR6 billion ($135.2 million) to fund expansion plans and consolidate its position as the country's top domestic handset maker, the Wall Street Journal reported.
PE firms target Indian non-banking financial companies
Private equity firms have invested $200 million in six Indian non-banking financial companies (NBFCs) since the start of the year despite regulators saying they will tighten their grip on the sector, Live Mint reported.
India’s lower-tier urban opportunities
Private equity and venture capital investors are beginning to look for openings in tier two and tier three cities in India
Accel targets $125m India venture fund
Accel Partners is targeting a $125 million fund that will be dedicated to India, The Business Standard reported. The California-based venture capital firm is understood to have sounded out various large fund-of-funds about its plans.
Henderson Private Equity invests $10m in IPE Global
Henderson Equity Partners has paid $10 million for a 26% stake in Delhi-based Infrastructure Professionals Enterprise (IPE Global), a consultancy specializing in infrastructure development projects. The investment was made through Henderson Asia Pacific...
Indian budget hotel chains court private equity
A number of Indian budget and mid-range hotel chains are seeking private equity investment to support their expansion plans, Mint reported.
India's L&T sees $75m in pre-IPO raise
L&T Finance Holdings, a subsidiary of Indian engineering conglomerate Larsen & Toubro, has raised $75 million through a pre-IPO share placement to US private equity fund Capital International, according to a statement sent to the Bombay Stock Exchange.
New Silk Route closes in on India restaurant deal
New Silk Route Advisors expects to close its first investment in an Indian restaurant business later this month, having spent two years looking for suitable targets. The private equity firm has committed $100 million in debt and equity and plans to spend...
Blackstone broadens Indian IT portfolio
Blackstone is set to invest INR1.5 billion ($34 million) in Mumbai-based IT solutions firm FINO, joining existing investors such as HSBC, ICICI Bank and Intel Capital, according to Reuters.
GMR Airports gets second round of PE investment this year
GMR Airports Holding has secured its second round of private equity investment this year, receiving $131 million through the issuance of compulsorily convertible preference shares.
American LPs and Asia GPs: A meeting of minds
It goes without saying that LPs are interested in Asia. But where do they – and the GPs who put their capital to work – see the best returns?