Banyan Tree growth capital fund, a $125 million mezzanine fund, has invested in a Mumbai based IT Infrastructure management services company Trimax IT Infrastructure & Services Ltd for a 10% stake. The amount of money invested stands undisclosed. Media reports suggest the fund has picked up about 10-12% in the company. The company plans to use the funds to strengthen its product and service offerings and for its capital expenditure.
Apart from being a system integrator, Trimax offers managed services and tech support services by incubating new offerings like infrastructure management (including remote), network security management and data center operations. The company employs 1,500 people across 40 locations in India.
Trimax executes BOOT projects for MSRTC involving computerisation of online ticketing services across 22,000 buses being run by it. It is also setting up a 1, 20,000 sq.ft data center in collaboration with ITI Bangalore to cater to customers across industry verticals.
Naval Totla, Director, Banyan Tree Growth Capital Fund, has a lot of expectations from the company. He says, “I guess it will be a multi bagger for us. If they perform as per business plans, they are expected to give us multiple returns.” Banyan Tree has been very careful in selecting Trimax for the investment. “Trimax is purely a domestic play. It does not have any exposure to exports or the US and the European markets as of now. So it is a very safe bet in that sense,” says Totla.
Mumbai-based investment banking firm Blend Financial Services Ltd acted as advisor to Trimax on the deal.
Banyan Tree has previously co-invested with Dutch entrepreneurial development bank FMO in synthetic rope manufacturer Axiom Impex ltd. The two also invested in Kalpena Industries, a manufacturer of PVC compounds.
Showing posts with label Infrastructure. Show all posts
Showing posts with label Infrastructure. Show all posts
Saturday, April 4, 2009
Thursday, September 20, 2007
L&T plans to pick up stake in Feedback
Larsen & Toubro (L&T), the country’s largest infrastructure company, is close to acquiring a stake in Feedback Ventures, a leading integrated infrastructure services firm. L&T’s investment vehicle for the acquisition will be the newly formed L&T Infrastructure Finance.
Sources in the know of the development said L&T Infrastructure’s investment in Feedback would be strategic in nature and bring both the companies closer in the future.
When contacted, sources in Feedback Ventures confirmed that they had held talks with L&T, adding that many private equity players had also shown interest in picking up a stake in the New Delhi-based company.
Sources in L&T said they would not comment on market speculation.
“The company will inform the stakeholder if there is any development worthy of mention on this front,” they added.
Mission Holdings, a group of people who founded the New Delhi-based Feedback Ventures, holds 36 per cent stake. Other shareholders of the closely held company include DLF, HDFC, IDFC and the Thapar group outfit, NewQuest Corporation.
No further details of the proposed deal could be ascertained. Sources in the know said the proposed purchase of stake would not cost L&T much. By the latest stake sale last year, Feedback Ventures was valued at Rs 84 crore, when DLF acquired 19 per cent stake for Rs 16 crore.
The infrastructure company’s valuation has appreciated over the past one year.
L&T is expected to have its nominees on the board of Feedback Ventures, if it acquires more than 10 per cent stake.
DLF, it may be mentioned, sent two nominees to the Feedback board, following its acquisition of 19 per cent stake last year.
L&T Infrastructure Finance, which was recently launched by L&T, is expected to hit the market in three to four years with a public issue.
(Source: Business Standard)
Sources in the know of the development said L&T Infrastructure’s investment in Feedback would be strategic in nature and bring both the companies closer in the future.
When contacted, sources in Feedback Ventures confirmed that they had held talks with L&T, adding that many private equity players had also shown interest in picking up a stake in the New Delhi-based company.
Sources in L&T said they would not comment on market speculation.
“The company will inform the stakeholder if there is any development worthy of mention on this front,” they added.
Mission Holdings, a group of people who founded the New Delhi-based Feedback Ventures, holds 36 per cent stake. Other shareholders of the closely held company include DLF, HDFC, IDFC and the Thapar group outfit, NewQuest Corporation.
No further details of the proposed deal could be ascertained. Sources in the know said the proposed purchase of stake would not cost L&T much. By the latest stake sale last year, Feedback Ventures was valued at Rs 84 crore, when DLF acquired 19 per cent stake for Rs 16 crore.
The infrastructure company’s valuation has appreciated over the past one year.
L&T is expected to have its nominees on the board of Feedback Ventures, if it acquires more than 10 per cent stake.
DLF, it may be mentioned, sent two nominees to the Feedback board, following its acquisition of 19 per cent stake last year.
L&T Infrastructure Finance, which was recently launched by L&T, is expected to hit the market in three to four years with a public issue.
(Source: Business Standard)
Thursday, August 30, 2007
Blackstone to invest $150 mn in NCC
Yesterday's news.
Blackstone Group, the global private equity firm, will buy a 14.5 per cent stake in Hyderabad-based Nagarjuna Construction Company Limited (NCCL) for $150 million (about Rs 615 crore), one of the largest-ever foreign investments in the construction sector in India.
Blackstone will buy equity in two tranches, through an allotment of 20.24 million equity shares of Rs 2 each at a premium of Rs 200.50 (equivalent to about $100 million) and 9.1 million warrants (with an exercise period of 18 months) of Rs 225 a warrant, with each warrant convertible into a equity share of Rs 2 each at a premium of Rs 223 (equivalent to about $50 million).
Nagarjuna Construction intends to use the funds for additional investments in public-private infrastructure projects and to expand its capital base, which would help it bid for larger projects and strengthen its position in the market.
This is one of the largest investments by Blackstone in the construction sector.
This is the fourth deal by Blackstone in India this year. The company acquired majority control in Gokaldas Exports for about Rs 660 crore, the largest management buyout in the textiles industry.
It has invested $275 million in Ushodaya Enterprises, which runs the Eenadu newspaper and ETV franchise, and also had another management buyout of BPO firm Intelenet from Barclays and HDFC for Rs 840 crore.
(Source: Business Standard)
Blackstone Group, the global private equity firm, will buy a 14.5 per cent stake in Hyderabad-based Nagarjuna Construction Company Limited (NCCL) for $150 million (about Rs 615 crore), one of the largest-ever foreign investments in the construction sector in India.
Blackstone will buy equity in two tranches, through an allotment of 20.24 million equity shares of Rs 2 each at a premium of Rs 200.50 (equivalent to about $100 million) and 9.1 million warrants (with an exercise period of 18 months) of Rs 225 a warrant, with each warrant convertible into a equity share of Rs 2 each at a premium of Rs 223 (equivalent to about $50 million).
Nagarjuna Construction intends to use the funds for additional investments in public-private infrastructure projects and to expand its capital base, which would help it bid for larger projects and strengthen its position in the market.
This is one of the largest investments by Blackstone in the construction sector.
This is the fourth deal by Blackstone in India this year. The company acquired majority control in Gokaldas Exports for about Rs 660 crore, the largest management buyout in the textiles industry.
It has invested $275 million in Ushodaya Enterprises, which runs the Eenadu newspaper and ETV franchise, and also had another management buyout of BPO firm Intelenet from Barclays and HDFC for Rs 840 crore.
(Source: Business Standard)
Sunday, August 19, 2007
Punj Lloyd sells 11% stake
A clutch of private equity funds including Warburg Pincus, Blackstone, Avenue Capital and hedge funds DKR Oasis and Kingdom Capital have bought a total of 11 per cent stake in Punj Lloyd for Rs 814 crore.
Warburg Pincus has bought 5.5 per cent stake while, Avenue Capital has acquired 2.5-3 per cent in Punj Lloyd, which is an EPC contractor focused on the oil and gas sector with diversification to infrastructure.
Private equity major Blackstone bought somewhere between 0.5 per cent and 1 per cent in Punj Lloyd, which issued the shares to these global investors through a qualified institutional placement (QIP) issue priced at Rs 275 a share, almost on par with the current market price.
Following the placement, the company’s paid-up capital has gone up from Rs 29 crore. Ravi Keswani, director (finance) of Punj Lloyd said the company would invest Rs 400 crore to buy a strategic 25.1 per cent stake in Pipavav Shipyard and it would spend another Rs 80 crore for its foray into real estate development.
(Source: Business Standard)
Warburg Pincus has bought 5.5 per cent stake while, Avenue Capital has acquired 2.5-3 per cent in Punj Lloyd, which is an EPC contractor focused on the oil and gas sector with diversification to infrastructure.
Private equity major Blackstone bought somewhere between 0.5 per cent and 1 per cent in Punj Lloyd, which issued the shares to these global investors through a qualified institutional placement (QIP) issue priced at Rs 275 a share, almost on par with the current market price.
Following the placement, the company’s paid-up capital has gone up from Rs 29 crore. Ravi Keswani, director (finance) of Punj Lloyd said the company would invest Rs 400 crore to buy a strategic 25.1 per cent stake in Pipavav Shipyard and it would spend another Rs 80 crore for its foray into real estate development.
(Source: Business Standard)
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