1Top HeadlinesFuture Venture picks up 33% stake in KFC Shoemaker.IAN incubatee Joognu raises over $100K in angel funding.Fortis Healthcare raising $100M from IFC, separately up to$83M through IPP.Etihad to buy 24% of Jet Airways for $379M.Information security products firm Seclore raises $6M inSeries A from Helion, Ventureast.Tata Technologies acquires US-based Cambric for $32.5MInside The NewsFuture Venture picks up 33% stake in KFC ShoemakerFuture Ventures India Ltd (FVIL) has invested an undisclosed sum inKFC Shoemaker which has footwear brands like ‘Trèsmode’ and‘Solovoga’. It has picked 33 per cent stake in the company, FutureVentures disclosed to the stock exchanges on Friday.This is the secondinvestment by the firm in the footwear business. It had earlier putmoney in Clarks Future Footwear, a 50:50 JV with UK’s C&J ClarkInternational. ts distribution channel comprises of Trèsmode stores inaddition to shop-in-shops within outlets run by Shoppers Stop, Central,Pantaloon and Reliance Retail across the country. The firm hadrevenues of Rs 25.89 crore for the year ended March 31, 2013 as againstRs 21.52 crore in FY12.IAN incubatee Joognu raises over $100K in angel funding.Joognu Technologies Pvt Ltd, the company that owns and operatesJoognu.com, a portal for memoirs for parents, has raised Rs 60 lakh($110,000) in angel funding from Kishor Gokhru (a large sub-broker forSharekhan). The funds were raised few weeks ago and is primarily
2being invested in product development and marketing.The Ahmedabad-based startup was founded by Anirvan Dam in August 2011. Prior toJoognu, Dam worked at companies like Aviva-COFCO Life InsuranceCompany, Radio Mirchi and Citibank India.Fortis Healthcare raising $100M from IFC, separately up to$83M through IPP.Fortis Healthcare Ltd is looking to raise $100 million (Rs 54.2 crore)from International Finance Corporation (IFC) through a mix of equityand foreign currency convertible bonds (FCCB).The board of directorsof the company have authorised the issuance of 28.6 million shares toIFC for a total value of $45 million. In addition, the company will alsoissue foreign currency convertible bonds (FCCB) worth $55 million toIFC convertible at the floor price of Rs 99.09, according to a release filedby the company in the stock market.Simultaneously, the firm is alsoissuing between 34.9 million to 45 million fresh shares through anInstitutional Placement Programme (IPP), the company disclosed.Etihad to buy 24% of Jet Airways for $379M.Naresh Goyal-led Jet Airways has inked a deal to sell 24 per cent stake inthe country’s second largest carrier to Abu Dhabi-based Etihad Airwaysthrough a preferential allotment for $379 million.As per the terms of theagreement, Etihad will pick up 27.2 million shares at a price of not lessthan Rs 754.7 a unit, translating to a deal worth Rs 2,057 crore ($379million), Jet Airways has disclosed on Wednesday. It will acquire 24 percent of the expanded capital base.Simultaneously, Etihad is also putting$150 million to buy a majority stake in Jet Privilege, the frequent flierprogramme of the airlines. This is expected to be completed in the nextsix months. Two months ago, Jet Airways divested its three parking slotsat London’s Heathrow Airport to Etihad Airways for $70 million (Rs 380crore), in what was seen as a first leg of the larger, impending deal. Thistakes the total commitment by Etihad in Jet Airways at around $600million.
3Information security products firm Seclore raises $6M inSeries A from Helion, Ventureast.Mumbai-based Seclore Technology Pvt Ltd, which provides informationsecurity products to enterprises, has raised $6 million (Rs 32.5 crore) inits series A funding from Helion Venture Partners and VentureastProactive Fund.As part of the deal, Helion MD Rahul Chandra andVentureast’s general partner Raghuveer Medhu will join the board ofthe company.A major chunk of the money will be used for globalexpansion while the rest will be utilised to expand the technology team.Tata Technologies acquires US-based Cambric for $32.5MTata Motors engineering services arm Tata Technologies Ltd hasacquired Cambric Corporation, a US-based engineering servicescompany from an unnamed private equity investor, for $32.5 million(Rs 176 crore) to strengthen its footprint globally, especially In Europe,according to a company statement.Cambric has significant footprint ineastern Europe, with three development centres in Romania with teamof 450 engineers. It had revenues of $25 million as of 31 December2012, majority of which came from construction and heavy equipmentsector.