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 Dhanalakshmi Bank to float US$ 423 million venture fund |
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Saturday, 13 June |
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Dhanalakshmi Bank plans to set up a venture fund with a corpus of US$ 423 million. This would be managed by a wholly-owned subsidiary. They are yet awaiting reserve Banks approval for the same. Their main motive to establish this venture fund is to enable the bank to take a long term view on investments, primarily in unlisted companies and start-ups, through this fund. It would be risky for them to invest in complete start ups so they plan to set up venture funds with five year view. |
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Sobha Developers to raise US$ 48 million from Purna Partners |
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Friday, 12 June |
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Sobha Developers, Bangalore based realtor, will raise US$ 48 million from Purna Partners, a private equity fund, to use it towards the development of projects in Bangalore and Pune. The investment will be followed at the special purpose vehicle (SPV) level. It plans to develop a residential and commercial project for which it is identifying suitable sites. It also plans to undertake mixed development projects in these cities. All the projects will be valued differently with Sobha and Purna holding stakes in them. |
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| Sabarmati Gas to sell 50% stake for US$ 17 million |
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Thursday, 11 June |
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Sabaramati Gas has decided to sell 48.9% stake to IDFC Project Equity Company, IFCI Venture Capital Fund and Unit Trust of India (UTI). The deal was brokered by State Bank of India (SBI) Caps. The three firms will be issued 1 crore shares of Rs 10 face value. Each of the companies will hold 16.60% equity stake in Sabaramati Gas. This will be issued at Rs 70 premium per share and the company would pay Rs. 80 per share. |
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| Axis PE to raise US$ 419 million for infra fund |
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Wednesday, 10 June |
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An investment arm of Axis bank, Axis Private Equity hopes to raise US$ 419 million as a part of its second round. The company seems to have already negotiated a deal, which it plans to announce soon. |
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| Birla PE raises first US$ 100 million in 3 months |
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Tuesday, 9 June |
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Aditya Birla Private Equity has raised US$ 100 million, mainly from banks and financial institutions including State Bank of India (SBI) and Bank of Baroda (BoB). This fund launched in March this year is soon to announce its closure of US$ 100 million. Funds have been arranged by domestic investors while public sector banks have chipped in as well. |
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Leading stories from the Latest IVCJ Journal |
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