Outsourcing News

U.S. billionaire investor George Soros has contributed to the Stock Exchange Bombay. Soros Quantum hedge fund had acquired a 4% share of Asia’s oldest exchange, Dubai Financial, said a spokesman for the Bombay Stock Exchange on Friday. For more details, he did not name . One person familiar with the matter that put the investor for the participation of about 380 INR ( the equivalent of $ 8.2 ) per share or a total of about USD 34 million on the table. This is the exchange rate with a total of around 850 million USD. Representatives of Quantum and Dubai Financial were not immediately be reached for comment. At the Bombay Stock Exchange was founded in 1875 more than 4,900 companies are listed . As of 18th June was the public shareholding in the stock market at 56.37 %, the remaining shares were held by exchange members and their associates , as is evident from data on the stock exchange website.

View original post here:
George Soros buys share of 4 % on the Bombay Stock Exchange

IL&FS Investment Managers (IIML), the country’s largest private equity fund, is close to exiting at least six of its investments, mainly in the real estate sector by the end of the current fiscal. The private equity firm, with over $2.8 billion of assets under management, will raise around Rs 1,500-2,000 crore through the exits, which are mainly due to the maturing of the investment horizon, according to vice chairman Shahzaad Dalal. The returns could average 25-30% from the real estate investments that were made about five years ago. “We hope this is the right time to unlock few of our investments. We have already identified three real estate investments for exit and are evaluating a few more,” said Mr Dalal. However, he refused to disclose the name of the companies. This move has come at a time when real estate sector has started looking up and ready to provide better returns on investments.

See the rest here:
IL&FS fund may raise Rs 2k cr via realty exits

ANC Holdings LLC, the Dubai based conglomerate with business interests in construction, foods, education, trading, hospitality, process and real estate, has acquired a 10 per cent stake in troubled India Steel Works Limited (ISWL) in an all-cash deal worth Rs 190 million. This is the company’s second biggest acquisition in a month, among a series of others announced this year

Read the original post:
ANC acquires 10% stake in India Steel Works for Rs190 million

Aiming to strengthen its presence in commodity trading business, Anil Ambani group is looking at acquiring 26 per cent stake in Indian Commodity Exchange (ICEX) from one of the promoters Indiabulls group. Indiabulls has also approached sector regulator Forward Markets Commission (FMC) seeking its nod for sale of 26 per cent stake to ADAG firm Reliance Exchange Net. When contacted, FMC Chairman B C Khatua told PTI that commodity market regulator has been approached by the ICEX, but it is yet to take any call on that. ICEX Managing Director and CEO Ajit Mittal also confirmed talks with Reliance Exchange Net, but added that nothing has been finalised as yet.

See the original post:
ADAG eyes 26% stake in ICEX

Optical media equipment major Moser Baer’s power subsidiary Moser Baer Projects Private Limited (MBPPL) Wednesday said it has attracted an investment of Rs.1,350 crore from Blackstone. The company, which is building a number of thermal, solar and hydro power projects, plans to commission 5,000 MW by 2016. “This will enable us to deliver reliable and affordable power that India needs to support its continued economic growth,” said MBPPL Founder Deepak Puri. Blackstone officials said the energy sector is an attracttive long-term investment destination.

Follow this link:
Blackstone invests Rs.1,350 crore in Moser Baer

US private equity giant Blackstone Group said Wednesday it expects to double its India investments to up to three billion dollars over the next five years. The company aims to target infrastructure and the fast-growing consumer sectors, said Akhil Gupta, chairman and managing director of Blackstone Advisors India Pvt. Ltd. “We are looking at two dominant themes: infrastructure, which includes ports, power and roads, and domestic consumption, like media (and) retail,” he told reporters. Over a five-year period beginning in September 2005, Blackstone has invested 1.25 billion dollars in India, of which 360 million dollars was earmarked for the power sector, Gupta said.

See the original post here:
Blackstone plans to double India investments

Bluechip global private equity funds — J P Morgan and Baring Private Equity Partners — are in the race to invest Rs 180 crore in a 14-acre residential project being developed by Bangalore-based developer Embassy Group. Embassy Group is building the project near the Hebbal flyover, north of Bangalore with 2 million square feet of residential development. Embassy Group is developing the project on a land historically-owned by Kirloskar Group in a 67 : 33 revenue share agreement. This round of private equity fund raising comes close on the heels of the company detailing its intent to go public in the near future. Embassy Group during the past month filed for a Rs 2,400 crore initial public offer. Edelweiss Capital, Nomura, UBS Securities and Citigroup Global Markets are the book-running lead managers to the issue. According to information with PE funds, Embassy may also look at a pre-IPO placement of up to Rs 1,175 crore

Read the original:
J P Morgan, Baring in race for stake in Embassy Group SPV

© Tracy OAs venture capital markets continue to shrink for the United States and Europe, emerging markets such as India, Brazil and especially China are seeing an expansion. Deloitte and the National Venture Capital Association recently released their study which found that China and other emerging markets are set to prosper over the next five years, while venture capital will dwindle for the US, Europe and Canada. The study was entitled the 2010 Global Venture Capital Survey and it was conducted by questioning 500 …

Read this article:
Venture Capital Markets Expanding in China

India and Vietnam will jointly pitch for taking over the energy assets of British energy giant BP in the Southeast Asian country, the Press Trust of India reported Thursday. India’s flagship explorer ONGC Videsh Ltd (OVL), backed by public sector company Oil India Ltd and Vietnam’s national oil firm PetroVietnam, will make a joint bid for BP’s 35 percent stake in a Vietnamese offshore gas block, the news agency said, quoting Indian Oil Minister Murli Deora

Visit link:
India, Vietnam to jointly pitch for BP assets: report

Evolvence Capital announced Thursday that it was planning to launch another India fund for a number of selected investments. According to the Dubai headquartered private equity company, it is planning to launch the fund named “Evolvence India Fund II” in the country and will raise the money from both institutional investors and high net worth clients globally. The announcement further outlined that the fund will be utilized for particular chosen investments in the mid-market growth capital division for the Indian private equity market and will be undertaken via both joint and direct investments. Evolvence’s latest fund is the third in a line of funds the Arabian company has launched geared for India. Its introductory fund was undertaken back in 2007 with the launch of Evolvence India Fund I that was about 250 million dollars. The company’s second fund was launched in the year 2008 and was named the Evolvence India Life Sciences Fund meant to support investments in the life sciences and healthcare sector. Further more, the fund will target diversified growth and will comprise a fund of funds at the 400 million dollars and will also target investments in high quality PE fund managers and already well grounded entrepreneurs in the country.

Link:
Dubai headquartered private equity Evolvence Capital planning India fund at $400 million

Lakshmi Vilas Bank (LVB), the south-based, old private sector lender, is in talks with Citigroup to acquire CitiFinancial Consumer Finance India, the struggling non-banking finance company which gives retail loans to low-income borrowers. LVB has hired investment bank JM Financial to carry out due diligence of CitiFinancial, which has a `9,000-crore balance sheet, 116 branches and close to 1,600 employees. “It’s an interesting move for a conservative mid-sized bank which has stayed away from acquisitions,” said a person familiar with the proposal. The LVB board recently cleared a proposal to float a wholly-owned housing finance subsidiary. This new outfit intends to acquire CitiFinancial. A Citi spokesperson declined to comment. CitiFinancial is part of Citi Holdings, which houses the non-core businesses of the global banking and financial services group. Citicorp, meanwhile, controls core divisions such as Citibank, the investment banking arm Citigroup Global Markets and the private equity arm CVC. In early 2009, Citi took a decision to identify non-core businesses which would be hived off over time.

Read the original post:
Lakshmi Vilas Bank eyes ailing Citi NBFC

Sajjan Jindal-led JSW Steel may sell about 14 per cent stake to Japan’s JFE for Rs 4,700 crore to cut the company’s debt. “Talks between the two companies for stake sale have more or less concluded. JSW Steel may sell around 14 per cent stake to JFE,” a source in the know of the development said. An announcement on stake sale by the company is expected next week.

See more here:
JSW Steel may sell about 14% stake to Japan’s JFE for $1 billion

The government is set to limit foreign direct investment (FDI) in private security services at 49%, a decision likely to trigger consolidation and ownership change in the Rs 10,000-crore domestic security services industry. Several foreign security firms currently have presence in India. The development is expected to help home-grown security firms like SIS and Tops to consolidate their position in the fast-growing sector and force foreign players like Group4S to restructure their holdings and offload the surplus FDI in favour of domestic players. The domestic private security industry, growing at 25% annually, employs over 7 million.

Link:
Security services players to face 49% FDI ceiling

Attracted by the rapidly-growing Indian demand for new kinds of packaging in food products, Rabo Equity Advisors, the private equity arm of Rabobank, has agreed to pick up 20% stake in Agra-based integrated packaging company Vacmet India. The PE firm, through its Indian Agri Business Fund and Real Trust, will invest Rs 50 crore. “We are excited about packaging because demand is growing in India for new and innovative technology to help companies extend the shelf life of their food products. The cost of packaging contributes more than 10% of a food product’s MRP. So this investment is in line with our overall focus on the food sector. We will assist Vacmet in sourcing latest technology in the world,” said Rajesh Srivastava, managing director, Rabo Equity Advisors.

See the original post here:
Rabo Equity to acquire 20% in Vacmet

Digital advertising and e-commerce firms in India are catching the fancy of private equity (PE) and venture capital (VC) firms. PE and VC investments in the online advertising and marketing space, which had gone down to $16 million in the first half of 2009, have shown a recovery and touched $28 million, or Rs 129 crore, in the first half of this year. Talking to ET, Mahendra Swarup, president, Indian Venture Capital Association, said: “Both PE and VC firms are active in the online advertising and marketing space.

View original post here:
Online ad space back on PE, VC cos’ radar

IL&FS Investment Managers (IIML), one of the country’s oldest private equity funds, plans to invest $300 million, or around Rs 1,400 crore, in real estate and urban infrastructure projects by the end of 2010. The PE arm of Infrastructure Leasing and Financial Services (IL&FS), with $2.8 billion assets under management, has already invested an equal amount in the last six months and evaluating some of the big-ticket projects for investment in the country, said a senior official. “We are in the advance stages of finalising 3-4 deals in residential real estate and urban infrastructure space like roads and hospitality,” said IIML vice-chairman & MD Shahzaad Dalal. According to industry sources, IIML has recently made commitments for an equity investment of Rs 110 crore in Palais Royale, a 75-storey luxury residential tower being built by Vikas Kasliwal-owned Sree Ram Urban Infrastructure.

More here:
IL&FS PE plans about 1,400 crore urban infra investments

Bennett, Coleman & Co Ltd (BCCL) has picked up a stake in Noble Hygiene Pvt Ltd, a Mumbai-based enterprise manufacturing and marketing diapers and personal hygiene products. The company manufactures a range of diapers for both babies under the brand Teddy and for adults branded as Friends. In fact, Nobel Hygiene pioneered the concept of adult diapers in India. Both these brands are available across India through retail, modern trade and hospitals. Noble Hygiene has recently set up a plant in Nashik, Maharashtra

Continue reading here:
BCCL acquires stake in Noble Hygiene

Private equity (PE) deals in listed companies are set to rise if the Securities and Exchange Board of India (Sebi) approves the Achutan Committee’s recommendations on the takeover code. However, buyouts are likely to dwindle, say major PE players in the country. According to estimates, lack of good opportunities has kept around $30 billion PE money waiting to be deployed. “The 25 per cent mark is positive, as PEs want to take their stake beyond 15 per cent in companies they invest in,” said Shahzaad Dalal, vice-chairman and managing director, IL&FS Investment Managers. Among the BSE 500 companies, 98 have single public shareholders with 10-14.99 per cent holding, according to a study by SMC Capital. For such investors, the upward revision of the takeover threshold limit can be a huge opportunity to increase their holding to 25 per cent without an open offer, say analysts.

Originally posted here:
PE activity may soar; buyouts to dwindle

Kings XI’s proposal to transfer 93% of its share to a private equity firm was rejected by the Board of Control for Cricket in India (BCCI). It said that the takeover must wait until investigations against suspended IPL chairman Lalit Modi have been concluded. The decision further delays the Punjab outfit owners’ plan to sell the team. A team willing to sell stake cannot go ahead without the BCCI’s permission, say rules laid out by the IPL governing council. Team owners also have to pay BCCI a transfer fee on a pro-rata value of the franchise.

Continued here:
BCCI spoils Kings XI Punjab’s plan

Emirates Telecommunications Corp may buy 26 percent of Reliance Communications Ltd., a stake estimated to be worth $3 billion, as early as mid-August, the Financial Times reported, citing people familiar with the talks. Both sides are considering merging the Indian unit of Etisalat, as the Abu Dhabi-based phone carrier is known, with Reliance because of domestic rules that bar companies from owning more than 10 percent of two telecommunications companies, the newspaper said. Reliance and Etisalat declined to comment on any specific negotiations, according to the report. A merger wouldn’t be simple because takeover rules in India discourage such a combination, the newspaper cited HSBC Holdings Plc analyst Rajiv Sharma as saying.

Read the original:
Etisalat May Agree to Buy $3 Billion Reliance Stake Next Month, FT Reports