South Asia
IFC invests in Indian wind power group
The World Bank’s IFC has continued its investment run in India, announcing that it will inject $15 million into power producer Simran Wind Project Private Limited, used for the company’s expansion.
IFC makes case for microsavings
In light of the controversy surrounding the merits of microlending to impoverished borrowers – which has largely been a commentary on some MFIs’ operations in India - a report from the World Bank’s investment arm, the International Finance Corporation...
Goldman Sachs acquires Indian hedge fund
Goldman Sachs Asset Management is set to acquire 10-year-old Indian hedge fund manager Benchmark Asset Management Co. in a move that bolsters its holdings in the market.
Sequoia discusses future of Indian investments
One month after Sequoia Capital India’s founders announced they would depart to launch WestBridge Public Fund later this year, the VC major’s MD told domestic media that Sequoia planned to remain a strong investor in the market, earmarking $600 million...
PTC India to float on BSE
PTC India Financial Services, whose parent last year partnered with Ashmore Investment Management to launch a private equity energy fund, has listed on the National Stock Exchange, the Bombay Stock Exchange in a process that may raise INR440 crore ($97.4...
SAIF-backed Speciality Restaurants files for IPO
SAIF Partners-backed food services firm Speciality Restaurants has reportedly submitted filings for a public offering, targeting as much as INR170 crore ($37.6 million).
Axis PE’s Gupta, Knight quit captive fund
Axis Bank, India's third largest lender has made no secret of its intentions of leaving the private equity industry. Over the last year, it has entertained a management buyout offer for Axis Private Equity (which has a INR600 crore ($133 million) infrastructure...
Even megafunds need to meet LP demands
After industry debate, Bain’s Asia Fund II may give investors options that focus on performance, not fees
India-Japan cross-border insurance deal
Reliance Capital-owned Reliance Life Insurance is to sell a 26% stake to Japan’s largest life insurer, Nippon Life Insurance, for $680 million. The deal has been touted as the largest foreign direct investment in India’s insurance space, and values...
Mount Kellett considers Indian pharma investment
US private equity group Mount Kellett Capital Management is reportedly making an INR410 crore ($90 million) investment in MedPlus Health Services, one of India's top pharmaceutical retailers, based in Hyderabad. Mount Kellett aims to make its capital...
VIDEO: Kaizen's Sandeep Aneja
India’s education sector has become a hot investment realm of late, and in light of Kaizen Private Equity’s success in raising funds for its newest vehicle, Sandeep Aneja, Founder and MD of the education-focused group, discusses strategies for investors...
TPG finally takes control of Vishal Retail
Six months after TPG received the go-ahead to acquire the wholesale unit of distressed Indian superstore chain Vishal Retail, the PE firm has reportedly taken control of the asset, further seeing its investee Shriram Group acquiring a separate part of...
TPG looking at 8x return on Shriram Transport
TPG is reportedly looking to exit its stake in Shriram Transport Finance Co. (STFC), touted as India’s largest commercial vehicle lender, for as much as $1 billion, 8x its initial investment.
Standard Chartered PE makes another Indian exit - reports
Standard Chartered Private Equity-backed energy generator producer Powerica Ltd. has reportedly targeted $200 million for its upcoming June IPO, coming as the latest of Standard Chartered’s exits in the Indian market
SBI-Macquarie, Standard Chartered among GMR Airport investors
GMR Airport Holdings, a unit of Bangalore-based GMR Infrastructure - which operates two of India’s major airports - is reportedly set to receive INR15 billion ($333 million) from SBI-Macquarie, Standard Chartered Private Equity and a third unnamed PE...
Kotak Mahindra seeks $300m for infrastructure
Kotak Mahindra Group is on the road to raise $300 million for an infrastructure-focused private equity fund in India, and has already received capital commitments from Brookfield Asset Management in Toronto, Sumitomo Mitsui in Tokyo, and Kotak itself.
VIDEO: Crowded Indian market still has room to grow
The Indian private equity market is undergoing change. Just last week, ChrysCapital founder Ashish Dhawan announced his retirement, while an unnamed private equity firm has poached the Indian head of Bank of America Merrill Lynch Capital.
StanChart invests in Indian chemicals group
Standard Chartered Private Equity, Limited (SCPEL), the private equity arm of UK’s banking Group Standard Chartered, will invest an INR850million ($18.9 million) in Privi Organics, a leading manufacturer, supplier and exporter of aroma chemicals in...
IDFC no longer a fund of funds
IDFC has pulled out of the private equity fund of funds business, which it entered in September 2009 under IDFC Capital. The Singapore-based FoF venture, which was headed by former ADB private equity head, Veronica John, reportedly failed to raise any...
Bain, GIC assist in Hero Honda buyout
Months after negotiations began between Japan’s Honda Group and India’s Hero Group to enact a strategy for Honda to exit the Hero Honda JV, Hero Group has officially bought out Honda’s 26% stake in the company, with private equity players Bain Capital...
The changing face of Indian private equity
What's happening in Indian private equity? The past few months have seen tremendous changes in India’s PE industry as local professionals move around in a happy merry-go-round of new and old faces. Some industry watchers say these changes and movements...
NSR, IL&FS telco tower operators to merge
Private equity firm New Silk Route's (NSR) investee Ascend Telecom Infrastructure will merge its telecommunications tower business with India Telecom Infra Ltd. (ITIL) – which is 50%-owned by industry peer IL&FS – in an effort to shore up their resources...
BOAML exec to join PE firm - reports
The head of Bank of America-Merrill Lynch's Capital in India, Saurabh Sonthalia, has reportedly departed the group to join an unnamed private equity firm, according to Reuters.
Canaan appoints MD in India
Global VC firm Canaan Partners has appointed Rahul Khanna as Managing Director of Canaan India, charged with overseeing early-stage investments spanning across India’s consumer internet, mobile, software and managed services sectors.