Warburg Pincus, a global private equity firm, will invest $110 million in country’s electrical and power distribution equipment company Havells India.
Havells will issue fresh shares and warrants to Warburg Pincus, representing approximately 11.2 per cent of the fully diluted share capital of the company.
SSKI (a subsidiary of IDFC) was the financial advisor and Amarchand Mangaldas provided legal advice to Warburg Pincus on this transaction.
Havells India, $1.2 billion enterprise and one of country’s fastest growing electrical and power distribution equipment companies, manufactures products ranging from building circuit protection, industrial & domestic switchgears, cables & wires, energy meters, fans, CFL lamps, luminaries for domestic, commercial & industrial application, and modular switches.
Havells also owns prestigious global brands like Crabtree (Indian Region), Sylvania, Lumiance and Zenith, among others.
Over a twelve-year period, Warburg Pincus have invested approximately $2 billion in India making it one of the largest private equity investors in the country.
The firm’s past and current investments in India include Ambuja Cements, Bharti Airtel, Dainik Bhaskar, HDFC, Kotak Mahindra Bank, Max India, Moser Baer, Nicholas Piramal, Punj Lloyd, Sintex Industries, Lemon Tree Hotels and WNS Global Services.
(Source: Business Standard)
Showing posts with label Warburg Pincus. Show all posts
Showing posts with label Warburg Pincus. Show all posts
Monday, October 22, 2007
Thursday, September 6, 2007
PE biggies line up for ICICI pie in Infomedia
Private equity funds General Atlantic, Blackstone and Warburg Pincus have shown interest in ICICI Venture’ 63% stake in Infomedia (formerly Tata Infomedia), the publisher of business directory Yellow Pages and some well-known niche magazines.
Given the fact that whoever buys the stake will have to make an open offer and also pay a controlling premium, the buyer should sell out upwards of Rs 400 crore. Infomedia’s market capitalisation is Rs 474 crore and its shares closed at Rs 240 at the BSE on Wednesday.
When contacted, the ICICI Venture spokesperson said, “We don’t comment on market speculation.” Infomedia India CEO Prakash Iyer could not be reached despite repeated attempts.
ICICI Venture acquired Tata’s 50% stake in Infomedia India in 2003 for Rs 123 core. It later acquired an additional 13% through an open offer.
Infomedia, with annual revenues of Rs 143 crore, is best known for its business directory service, the Yellow Pages. Tata Press, when it owned Infomedia, launched the Tata Press Yellow Pages in Mumbai and soon took the Yellow Pages culture to more than 20 cities across India.
An industry source pointed out that PE firms have shown interest in the company for its publishing outsourcing business and the growth it offers. The size of the publishing vertical in the BPO space is around $250 million.
Infomedia entered this business in December 2005 through the acquisition of Bangalore’s Cepha Imaging Systems and UK-based publishing company Keyword Group. The idea was to scale up operations, forge partnerships with international publishers and take advantage of India’s cost structure.
(source: Economic Times)
Given the fact that whoever buys the stake will have to make an open offer and also pay a controlling premium, the buyer should sell out upwards of Rs 400 crore. Infomedia’s market capitalisation is Rs 474 crore and its shares closed at Rs 240 at the BSE on Wednesday.
When contacted, the ICICI Venture spokesperson said, “We don’t comment on market speculation.” Infomedia India CEO Prakash Iyer could not be reached despite repeated attempts.
ICICI Venture acquired Tata’s 50% stake in Infomedia India in 2003 for Rs 123 core. It later acquired an additional 13% through an open offer.
Infomedia, with annual revenues of Rs 143 crore, is best known for its business directory service, the Yellow Pages. Tata Press, when it owned Infomedia, launched the Tata Press Yellow Pages in Mumbai and soon took the Yellow Pages culture to more than 20 cities across India.
An industry source pointed out that PE firms have shown interest in the company for its publishing outsourcing business and the growth it offers. The size of the publishing vertical in the BPO space is around $250 million.
Infomedia entered this business in December 2005 through the acquisition of Bangalore’s Cepha Imaging Systems and UK-based publishing company Keyword Group. The idea was to scale up operations, forge partnerships with international publishers and take advantage of India’s cost structure.
(source: Economic Times)
Tuesday, July 24, 2007
Lehman, Warburg, Carlyle eye 20% of Angel Broking
Leading private equity investors Lehman Brothers, Warburg Pincus and Carlyle Group are in talks with Angel Broking to buy a 20% stake in the Mumbai-based retail broking firm.
Angel Broking is the latest to join the PE bandwagon after leading industry players like Motilal Oswal Securities, Edelweiss Capital and India Infoline roped in equity partners in the past. Angel is planning to raise about Rs 200 crore through the placement, pegging the broking firm’s valuation at around Rs 1,000 crore.
The funds will be used to finance Angel’s proposed expansion of branches. It also wants to launch new products such as loan against shares and margin funding, said the source. A 100% retail player, Angel Broking has chalked out an expansion plan under which it has identified 250 new locations in addition to its existing branch network of 70. It offers a range of services like broking, research, investment advisory, wealth management, e-broking and commodities trading to about two lakh clients. “Angel Broking records daily business volumes of Rs 1,500 crore and enjoys about 3% market share,” claimed Mr Thakkar.
(Source: Economic Times)
Angel Broking is the latest to join the PE bandwagon after leading industry players like Motilal Oswal Securities, Edelweiss Capital and India Infoline roped in equity partners in the past. Angel is planning to raise about Rs 200 crore through the placement, pegging the broking firm’s valuation at around Rs 1,000 crore.
The funds will be used to finance Angel’s proposed expansion of branches. It also wants to launch new products such as loan against shares and margin funding, said the source. A 100% retail player, Angel Broking has chalked out an expansion plan under which it has identified 250 new locations in addition to its existing branch network of 70. It offers a range of services like broking, research, investment advisory, wealth management, e-broking and commodities trading to about two lakh clients. “Angel Broking records daily business volumes of Rs 1,500 crore and enjoys about 3% market share,” claimed Mr Thakkar.
(Source: Economic Times)
Wednesday, May 30, 2007
Warburg Pincus picks up Cibernet for $200 million
Warburg Pincus has acquired Cibernet, one of the most experienced vlearing and roaming business service provider for telecom companies across the world, for over $200 million.
The move havs proved to be a windfall for iLabs, a PE firm operating out of Hyderbad and Chennai, which wasa an anchor investor along with the Cellular Telecommunications and Internet Assocaition in Cibernet.
The move havs proved to be a windfall for iLabs, a PE firm operating out of Hyderbad and Chennai, which wasa an anchor investor along with the Cellular Telecommunications and Internet Assocaition in Cibernet.
Subscribe to:
Posts (Atom)
