Global private equity firms, including Blackstone and Carlyle Group, have made an investment of $3.8 billion in 2007 so far in the country, up 50 per cent from the year-ago period.
The record volume has been reached through 81 M&A deals. Last year, foreign private equity players had invested $2.6 billion, data compiled by global consulting firm Dealogic showed.
Carlyle Group is the leading "financial sponsor" in India with investment of $777 million via two deals, including acquisition of over six per cent stake in HDFC.
It is followed by Dubai International Capital, which acquired a 2.87 per cent stake in ICICI Bank for $741 million, and Blackstone Group with $619 million inflow via eight deals.
Financial sponsor is a term commonly used to refer to private equity investment firms, particularly those engaged in leveraged buyout transactions.
Blackstone Group, the world's leading private equity firm, has acquired stake in companies such as Intelenet Global Services, Punj Lloyd and Gokaldas Exports.
The US-based Group has also decided to pump in $150 million to acquire a stake in Nagarjuna Construction Company. A move that comes close on the heels of its decision to acquire up to 70.1 per cent stake in Gokaldas Exports, the country's biggest apparel exporter, for about Rs 675 crore.
Blackstone Group manages around $90 billion of assets worldwide. In January, it invested about $275 million in Ushodaya Enterprises Ltd (UEL), a media and film production company owned by Ramoji Rao.
Source: (Economic Times)
Showing posts with label Punj Lloyd. Show all posts
Showing posts with label Punj Lloyd. Show all posts
Thursday, August 30, 2007
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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