South Asia
GIC opens new office in Mumbai
The Government of Singapore Investment Corporation (GIC) announced its intent to open an India office in Mumbai March 31, its eighth overseas.
India’s VIA to take flight on $100 million fund raising
Bangalore-based travel services provider VIA moves even faster than its clientele, it would appear. Founded in 2006, the company boasts annual revenues of $500 million, and growth in the 60% p.a. range. And it has just announced it will raise up to $100...
L Capital to invest Indian retailer
L Capital Asia, the $500 million private equity fund sponsored by luxury product giant LVMH Group is in discussions to buy stake in India fashion and lifestyle goods retailer Genesis Colors Pvt Ltd, according to a report by the Indian Times.
3i takes stake in Indian energy firm
3i has invested $45 million for a minority stake in Ind-Barath Energy Limited (Utkal), from its $1.2 billion 3i India Infrastructure Fund.
Indian infra sees international activity
In the last week, both foreign and domestic firms have made significant moves dedicated to the Indian infrastructure space. UK headquartered private 3i has participated in the build-operate-and-transfer (BOT) road projects operated by KMC Constructions,...
Japan and India: A match made in Asia
Early in 2011, Indian and Japanese regulators launched measures to more closely align their economies to promote cross-border deals. Since then, they have emerged as two of Asia’s strongest business partners. Three major Indian-Japanese deals have materialized...
AVCJ India report shows PE making strides
The themes common to any discussion on Indian private equity are still there today, but instead of debate, the 2011 AVCJ India Private Equity and Venture Capital report showed steady progress and lessons learned. PIPEs are down by nearly two-thirds –...
GS and Everstone to laurnch NBFC in India – reports
US banking giant Goldman Sachs, Everstone Capital, Ashmore Group and several other funds have linked up to establish a non-banking finance company (NBFC) in India, according to reports.
3i invests in Indian construction major
UK-headquartered private equity firm 3i will invest INR500 crore ($115 million) into KMC Constructions, a build-operate-transfer (BOT) construction firm based in Hyderabad that focuses on India’s road projects.
D.E. Shaw, Reliance Industries launch financial services JV
Global hedge fund D. E. Shaw and Indian power major Reliance Industries Limited have linked to form a domestic financial services JV.
GIC-backed firm nears LSE debut
GIC-backed Ballarpur Industries, touted as India’s largest paper producer, is set to launch its overseas division Bilt Paper on the London Stock Exchange, targeting $330 million.
Control stake in Comviva up for grabs
Indian Conglomerate Bharti Enterprises is reportedly looking to offload its majority stake in Comviva Technologies, a mobile software and application developer that also counts Sequoia Capital as a backer.
Aditya Birla makes hires
Aditya Birla Financial Services Group (ABFSG) has strengthen its private equity team by inviting Amitvikram Sharma, ex-partner of Milestone Religare, as an additional investment director in addition to P. H. Ravikumar and Shailesh Haribhakti who were...
Nippon, Reliance Life deal awaits approval - reports
One week after Japanese insurance giant Nippon Life announced its intention to take a 26% stake in India’s Reliance Life Insurance, news surfaced that the deal may be stalled as regulators have yet to bless the transaction.
Nomura targets Indian infrastructure
In the latest news of a Japanese giant targeting Indian opportunities, Nomura Securities is reportedly set to raise a $500 million fund for infrastructure investments in India, raised by Japanese investors.
Kotak Mahindra now targets $500 million for property
Kotak Mahindra Group is reportedly in the process of raising a second multi-million-dollar fund – an up-to $500 million vehicle for real estate – coming weeks after it announced a smaller fund for infrastructure.
Pipavav Shipyard sees another PE exit
Three IL&FS divisions have exited a 7.68% stake in Pipavav Shipyard to Ovira Logistics through open market deals, marking the latest private equity exits in the Indian shipbuilder.
Blackstone goes VIP
Blackstone has taken a 2% stake in Indian travel gear retailer VIP Industries for INR36-40 crore ($8-$9 million) through a rare open market transaction for the firm, with reports adding the PE major may up its stake to 5% in the future.
CapAsia goes to Pakistan for wind energy
CapAsia, a joint venture private equity fund manager between CIMB Group and Standard Bank Group, has announced a $20.5 million investment into two wind parks in Pakistan. The capital will be deployed from its Islamic Infrastructure Fund (IIF). The assets...
IFC champions microsavings offerings
As more Indian banks look to expand their services to the growing middle class and the increasing number of high net worth individuals, the World Bank’s investment arm, International Finance Corporation (IFC), has made a case for microsavings in a new...
Malaysian funds swap Apollo Hospital stakes
Malaysian sovereign wealth fund Khazanah Nasional Bhd has invested INR470 crore ($104 million) in leading Indian healthcare chain Apollo Hospitals, taking a 8.82 % stake from Bisikan Bayu Investments, another Malaysian government fund.
Standard Chartered takes stake in Indian exchange
Standard Chartered has acquired a 3% stake in India’s youngest stock exchange, the United Stock Exchange (USE), coming as the first overseas banking holder in the outfit.
CapAsia invests in renewable energy in Pakistan
CapAsia, a joint venture private equity fund manager between CIMB Group and Standard Bank Group, has announced a $20.5 million investment into two wind parks in Pakistan. The capital will be deployed from its Islamic Infrastructure Fund (IIF). The assets...
Walden International invests in Indian loan portal
VC firm Walden International has reportedly invested $6 million in A&A Dukaan Financial Services Pvt Ltd., the parent of Indian loan and insurance quotation website BankBazaar.com, as part of a second round of funding.