Everstone Capital Buys 45% In Pind Balluchi - Everstone Capital, a private equity firm managing assets worth over $1.5 billion in India, is acquiring 45% stake in New Delhi based restaurant chain Pind Balluchi, as financial investors continue to show big appetite for the domestic food and beverage story. Everstone will invest about $20 million in JS Hospitality Services, which operates about 30 Pind Balluchi restaurants, mostly in the National Capital Region, serving north Indian cuisine. (Economic Times)
ATEC In Talks With Adani, GVK For Australia Coal Link Stake - ATEC Rail Group Ltd. said it’s in talks with India’s GVK Group and Adani Enterprises Ltd to buy a stake in a proposed rail link in Australia’s Galilee Basin, where about $32 billion of coal projects are being developed. The closely held company, backed by Houston-based The Energy & Minerals Group, is also holding rail project equity stake discussions with billionaire Clive Palmer’s China-backed Waratah Coal Pty. The three are each pursuing their own rail projects to start shipping from 2015, while Queensland’s state government has said it favors a single corridor to the coast. (Bloomberg)
Mukesh Ambani Eyes Stake In Network18 - India's richest person, Mukesh Ambani, has entered into talks over the possible purchase of a stake in television and Internet conglomerate Network18. Ambani, chairman of Indian energy and petrochemicals giant Reliance Industries Ltd., has been in deal talks with Network18 founder and controlling shareholder Raghav Bahl. Bahl's portfolio includes partnerships that run India's versions of CNBC, MTV, Nickelodeon and CNN. Investors in Network18 include Chryscapital chief Ashish Dhawan and SAIF Partners. (WSJ)
Landmark Eyes JV With US F&B Majors - NRI billionaire Micky Jagtiani's Landmark Group, which operates Max hypermarkets and Lifestyle departmental stores in India, is revving up its food and beverage (F&B ) play here. The $4-billion group's leisure arm Citymax India is expected to open doors for two iconic American restaurant chains, Krispy Kreme Doughnuts and PF Chang's China Bistro, by early next year. Jagtiani has roped in former Ruby Tuesday head Vishal Sawhney to spearhead the group's hospitality business, as he targets $1 billion India revenue by 2013. (Economic Times)
Shriram Capital To Buyback Sanlam Stake - Shriram Capital plans to buy back 26 per cent shareholding held by its South African partner Sanlam group in their two insurance joint ventures in India — Shriram Life Insurance and Shriram General Insurance — to comply with the sectoral limits on foreign direct investment in the insurance sector imposed by the Indian government. Shriram Capital is the holding company of the Rs 30,000 crore Shriram group's financial services business. (Financial Chronicle)
Argonaut Ups Stake In BSE - The Bombay Stock Exchange (BSE), which has been planning to come out with an initial public offering and get its shares listed, saw significant changes among its largest shareholders over the 13 months up to June. A US-based private equity firm, Argonaut Ventures, increased its stake in BSE from 2.54 per cent at the end of May 2010 to 4.75 per cent at the end of June this year. (Financial Chronicle)
Kidloo Eyes $6M In VC Funding - Kidloo.com, an exclusive online toys store floated by Hyderabad-based Hoorayy Technologies, is in the process of raising a $6-million (approximately Rs 32 crore) venture capital funding to fuel its plans of venturing into the offline retailing business. The 10-month-old online store, which had earlier raised Rs 30 lakh from angel investors, would set up its flagship kids’ toys destination outlet in Hyderabad – with a carpet area of 5,000 sft and entailing an investment of Rs 15 lakh (including infrastructure and inventory) – by March 2012. (Business Standard)
IIFCL To Set Up Rs 5,200Cr Debt Fund - India Infrastructure Finance Company (IIFCL) plans to launch a Rs 5,200 crore ($1 billion) infrastructure debt fund by the end of February. HSBC, the Asian Development Bank and local lenders Life Insurance Corp of India and IDBI Bank will be co-sponsors of the fund.
Axiata Bid To Up Stake In Idea Shot Down - The Foreign Investment Promotion Board (FIPB) has rejected a proposal by Mauritius-based Axiata Investments 2 India Ltd, part of Asian telecom giant Axiata Group, to increase its stake in Idea Cellular by acquiring shares from the stock exchange. Axiata Investments 2 had made a proposal to the FIPB to acquire equity shares by executing trades on the floor of the stock exchange aggregating to one per cent of the company's total issued equity share capital. (Business Standard)