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1.Subbu Subramaniam's MCap Adds Two Partners (www.vccircle.com)
Former partner at Baring Private Equity Partners India N. ‘Subbu’ Subramaniam has roped in two partners for MCap Fund Advisors. Rahul Gupta, who was the chief risk officer for Citigroup in India, and Abhilash Lal, who was till recently dire...
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2.Indian Angel Network Invests $350K In Software Product Firm (www.vccircle.com)
Indian Angel Network is investing $350K (~ Rs 1.6Cr) in Pune-based software product firm InnovizeTech Software. The company's flagship product is called Sapient, which is awaiting patent, delivers a solution to measure and analyze enterprise effort and...
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3.Muthoot Finance Raises Rs157Cr From Baring, Matrix Partners (www.vccircle.com)
Muthoot Finance Limited, a Kerala-based NBFC, has raised Rs 157 crore in its first institutional round of funding from Baring Private Equity Partners India and Matrix Partners India for a minority stake in the company.
Muthoot Finance claims to be the ... -
4.Azure Power Inks MoU With NTPC Power Trading Arm (www.vccircle.com)
Azure Power, India’s first private grid connected solar power plant developer, has signed an MoU with NTPC Vidyut Vyapar Nigam Ltd (NVVN) to become the first operating private project under Jawaharlal Nehru National Solar Mission (NSM). The Inter...
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5.RPG Co KEC In Race For US-Based SAE Towers (www.vccircle.com)
KEC International, part of the diversified RPG Group, is planning to make an aggressive overseas foray. KEC, an EPC player in areas like power and telecom infrastructure, is bidding to acquire US-based SAE Towers Holdings, which has operations in...
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6.ArcelorMittal Plans Stainless Spin-Off (www.vccircle.com)
After years of seeking a cost-cutting merger in stainless steel, ArcelorMittal is giving up the fight and says it wants to spin off its activities instead.
Analysts see no reason to regard the move as the precursor to long-awaited combinations in the c... -
7.Citi Venture Capital International On Exit Mode From KS Oils (www.vccircle.com)
Citigroup Venture Capital International (CVCI) appears to have pressed the final exit button from its three-and-half-year-old investment in edible oil company KS Oils. It sold almost 90% of its 4.95% holding in a bulk deal for Rs 93 crore at Rs 50 a pi...
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8.Avendus Appoints George Mitra As ED Of Wealth Management Biz (www.vccircle.com)
Mumbai-based investment bank Avendus Capital has further strengthened its wealth management team by appointing George Mitra as Executive Director for its wealth management business. Mitra was till recently with Deutsche Bank's wealth management unit, a...
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9.News Roundup: Tulip, Global To Pick Up Stake In Qualcomm JV (www.vccircle.com)
Tulip, Global To Pick Up Stake In Qualcomm JV - Manoj Tirodkar-owned Global Holdings Corporation and Delhi-based enterprise wireless broadband company Tulip Telecom are expected to pick up a 13% stake each in a new company promoted by US-based Qualcomm...
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10.
Flipkart Founders Among New Speakers At E-commerce Forum In Bangalore (www.vccircle.com)We would like to announce that Flipkart.com founders Sachin Bansal and Binny Bansal would be joining the already illustrious list of speakers at VCCircle E-commerce Forum 2010 on August 18 at ITC Windsor in Bangalore. The others who have joined recentl...
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11.Midday To Buy Classifieds Firm SnatchKing Online (www.vccircle.com)
Midday Infomedia Ltd has said it will acquire the assets of privately-held SnatchKing Online Pvt. Ltd, an online classifieds technology company. As per the agreement, Midday will also take on board several key employees of SnatchKing. The financial det...
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12.Banyan Tree Raises Debut Fund At $100M (www.vccircle.com)
Banyan Tree Capital Advisors has closed its first India focussed fund- Banyan Tree Growth Capital LLC at $100 million.
The Fund has been anchored by FMO and DEG, the development financial institutions of Netherlands and Germany respectively, it said in... -
13.IMImobile Increases Offer For UK's WIN Plc (www.vccircle.com)
Mobile value added services (VAS) company IMImobile has increased its offer to 150 pence London-listed mobile applications company WIN Plc. The new offer is an increase of 6.4% from IMImobile's earlier offer of 141 pence and values the WIN at £16...
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14.SKS Microfinance : Finance vs Ethics OR Finance with Ethics (www.vccircle.com)
SKS has announced the final pricing range for its IPO at Rs850 to Rs 985 per share. We think these are punchy valuations even at the lower end implying a 5.8x FY10 P/B (pre money) and 3.8x FY10 P/B (post money). Whilst global microfinance peers te...
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15.Unitech To Buy Out AIM-Listed Arm For Rs 776Cr (www.vccircle.com)
Unitech Ltd is planning to buy out a group offshoot Unitech Corporate Parks Plc(UCP) that is listed on the AIM stock exchange in a deal that may cost it £106.5 million or about Rs 776 crore. Unitech already owns 4.52% of UCP with promoters owning...
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16.UK's CDC Commits $30M To Renuka Ramnath's Multiples (www.vccircle.com)
UK’s development finance institution CDC Group plc has made a commitment of $30 million to Renuka Ramnath-led Multiples Alternate Asset Management. CDC, one of the largest institutional investors in Indian PE funds, said it is backing Mult...
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17.New Roundup: SKS Ropes In Anchor Investors At Upper Band (www.vccircle.com)
SKS Ropes In Anchor Investors At Upper Band - SKS Microfinance, whose IPO opens on Wednesday, placed 18% of its stake with 21 anchor investors for Rs 297.6 crore. The investors were allotted 30.22 lakh shares at a price that is at the upper end of IPO ...
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18.MakeMytrip: Fact Sheet & Timeline (www.vccircle.com)
MakeMyTrip Segment Revenues (In $ million)
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19.Kotak Private Equity Investing In Diamond Power (www.vccircle.com)
Gujarat-based Diamond Power Infrastructure Ltd, an integrated manufacturer of power transmission equipment and turnkey services provider, is raising funds from Kotak Private Equity. The PE firm may invest for up to a 10% stake. Diamond Power had ...
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20.Debut Deal: TLG Capital Picks 36% In Cartridge Refilling Network (www.vccircle.com)
Frontier markets focused fund TLG Capital has closed its first deal in India by picking up to a 36% stake in Re-feel Cartridge Engineering Pvt Ltd, India’s largest and fastest growing printer cartridge refill and laptop repair services' company. ...
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21.RBI Raises Key Policy Rates To Stamp On Inflation (www.vccircle.com)
The Reserve Bank of India has affected a hike in its two key policy rates (repo and reverse repo rate) by 25 bps and 50 bps respectively earlier today as part of its First Quarter Monetary Policy Review. The repo (rate at which banks borrow from the RB...
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22.News Roundup: Angel Broking In Talks For Rs 300Cr PE Infusion (www.vccircle.com)
Angel Broking In Talks For Rs 300Cr PE Infusion - Angel Broking is in talks with private equity funds General Atlantic, Blackstone and Advent International to raise up to Rs 300 crore through sale of minority stake. The retail broking firm has appointe...
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23.Blockbuster Deal: Japan's JFE Buying 14.99% In JSW Steel For $1B (www.vccircle.com)
Japan’s second largest steel maker JFE is buying around 14.99% stake in JSW Steel for about $1.02 billion (Rs 4,800 crore) in what is pegged as one of the biggest foreign direct investment deal in metal and mining space till date.
The transaction... -
24.Opto Circuits Buys US Device Co For $9.7M (www.vccircle.com)
Bangalore based healthcare equipment maker, Opto Circuits (India) Limited (OCI), has acquired US-based Unetixs Vascular, Inc, a specialist in the detection of peripheral arterial disease (PAD), for a cash consideration of approximately $9.7 million. OC...
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25.‘Multi-Billion Dollar Waste Management Companies to Emerge from India’ (www.vccircle.com)
For FE Clean Energy, a PE fund manager based out of the US and managing four funds globally, India stands at the No.1 position from a risk-return perspective, says Anand Prakash, MD, South East Asia, FE Clean Energy Asia, which manages the third pure A...
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