Weekly newsletter
Upcoming SlideShare
Loading in...5
×
 

Weekly newsletter

on

  • 201 views

Weekly Finance and Corporate Deals

Weekly Finance and Corporate Deals

Statistics

Views

Total Views
201
Slideshare-icon Views on SlideShare
201
Embed Views
0

Actions

Likes
0
Downloads
0
Comments
0

0 Embeds 0

No embeds

Accessibility

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Weekly newsletter Weekly newsletter Document Transcript

    • Top Headlines Carlyle to offload entire 80% stake in Cyberoam to Sophos Group for $70-80M. Fashion e-tailer Myntra raises $50M led by Premji Invest. Govt permits FIIs, NRIs to invest in insurance sector under 26% FDI cap. UK-based CDC Group invests $27.5M in lifestyle e-tailer Jabong. Kolte-Patil acquires land parcel in Pune for $56M. IFC raises $112M in fourth tranche of $1B rupeedenominated bond. HCL Corp enters healthcare sector with multi-speciality clinic chain, to invest $160M. Truecaller secures $18.8M led by Sequoia Capital, announces integration with Yelp. MakeMyTrip acquires hotel aggregator EasyToBook.com for around $5M Inside The Story Carlyle to offload entire 80% stake in Cyberoam to Sophos Group for $70-80M Private equity major Carlyle is looking to offload its 80 per cent equity stake privately held network security solutions provider Cyberoam Technologies to UK-based Sophos Group, according to two separate reports in The Economic Times and The Times of India. The reports, citing sources, pegged the deal value at Rs 430-500 crore ($70-80 million).Carlyle had initially invested around 60 per cent stake in Ahmedabad-based Elitecore Technologies for around Rs 43 crore ($10.3 million then), the parent company of Cyberoam, and later hiked its stake 1
    • in the firm to 87.5 per cent with additional investment.Later on, Cyberoam was spun out of the company with Carlyle holding majority stake and Hemal Patel, the erstwhile promoter of Elitecore, owning the rest.The reports said Patel will continue to operate the company after the majority stake acquisition by Sophos Group. Fashion e-tailer Myntra raises $50M led by Premji Invest. Bangalore-based fashion apparel e-tailer Myntra has raised $50 million (about Rs 300 crore) in a financing round led by Premji Invest, along with new and existing investors. This funding will enable Myntra to strengthen its technology, infrastructure and customer experience and fund its future growth initiatives.India’s $3.1 billion e-commerce market (excluding online travel) is expected to grow by over seven times to $22 billion in five years, according to a CLSA report. Myntra is looking to capitalise on this growth opportunity. Govt permits FIIs, NRIs to invest in insurance sector under 26% FDI cap. The government has permitted foreign institutional investors (FII) and non-residents Indians (NRIs) to invest in the insurance sector within the overall 26 per cent cap on foreign direct investment, under the automatic route, according to a press note.The new norms also apply on intermediaries like insurance brokers, third-party administrators (TPAs), surveyors and loss assessors, apart from insurance companies, the Department of Industrial Policy and Promotion, under the Ministry of Commerce, has clarified.The new norms will however be subject to the condition that foreign investors putting in money in Indian insurance firms need to have necessary license from the Insurance Regulatory & Development Authority. The decision will come into force with immediate effect. 2
    • UK-based CDC Group invests $27.5M in lifestyle e-tailer Jabong. Gurgaon-based lifestyle fashion and apparel e-tailer Jabong.com has raised $27.5 million in equity funding from UK-based development finance institution (DFI), CDC Group plc. The capital will help Rocket Internet-backed Jabong to drive its business growth as well as enable the development of its supply chain infrastructure and technology platform. For CDC Group, this could be very likely the first technology investment in India. Some of CDC's recent direct deals include microfinance company Equitas and renewable energy developer Kolte-Patil acquires land parcel in Pune for $56M. Pune-based real estate developer Kolte-Patil Developers Ltd has acquired a 34-acre land parcel at Wakad in Pune for Rs 350 crore ($55.87 million), as per a stock market disclosure. The property, located on the Mumbai-Pune highway, makes for the single-largest land transaction within the city.The company will develop a mixed-use residential housing project with some commercial aspect.The transaction was funded largely through internal accruals and post this deal the company’s net debt-equity ratio stands at of 0.16. IFC raises $112M in fourth tranche of $1B rupeedenominated bond. International Finance Corporation (IFC), the private sector investment arm of the World Bank Group, has raised an additional Rs 700 crore ($112 million) as the fourth tranche of its global rupee-denominated bonds which seeks to generate around $1 billion.The new tranche of its three-year bonds was lapped up by asset managers and banks from the US and Europe, it said on Friday.With the new tranche, IFC has managed to issue bonds worth Rs 3,000 crore (around $500 million) or half of the target size to date. Last October, IFC had launched a $1 billion offshore 3
    • bond programme denominated in Indian currency to increase foreign investments and fund private projects in the country. HCL Corp enters healthcare sector with multi-speciality clinic chain, to invest $160M Shiv Nadar-promoted HCL Corporation, the privately held group holding company of HCL, has forayed into the healthcare sector with the launch of HCL Avitas as the first subsidiary of HCL Healthcare in affiliation with US-based John Hopkins Medicine International.Shikhar Malhotra, Shiv Nadar's son-in-law, a board member of HCL Corporation, would be leading the healthcare venture.HCL Corporation, the controlling arm of IT services major HCL Technologies, decided to start the project with an initial investment of Rs 1,000 crore ($160.5 million). John Hopkins will provide consultative services. Truecaller secures $18.8M led by Sequoia Capital, announces integration with Yelp. Truecaller, a collaborative mobile phone directory app developed by Swedish startup True Software Scandinavia AB, has raised $18.8 million in funding led by Sequoia Capital, the company said in a blog post.The firm has also announced a partnership with US-based business directory and review site Yelp.com to help Truecaller users identify local, national and international businesses and also view their Yelp rating.The Yelp integration takes Truecaller's own search engine to find people and identify numbers, and combines it with Yelp's crowdsourced business ratings to create one place for genuine and accurate information to use without leaving the Truecaller app. 4
    • MakeMyTrip acquires hotel aggregator EasyToBook.com for around $5M NASDAQ-listed online travel services firm MakeMyTrip (MMT) has acquired the entire equity interest in a group of companies comprising the EasyToBook.com Group (ETB). The company purchased shares from the existing shareholders of ETB and also invested a further amount in ETB. The total purchase consideration and investment in ETB stands at approximately $5 million.The acquisition of ETB is expected to further strengthen the existing travel technology stack of MakeMyTrip.com and to enhance the international hotel room offerings for customers travelling overseas (particularly to Europe), and vice versa. 5