*Pathways plans to utilise the fund in expanding its operation by setting up two more schools in NCR.*
*Reliance Capital Invests Rs 100Cr In Pathways *- Reliance Capital Ltd, the private equity arm of Anil Ambani-led Reliance Industries, made its debut with Rs 100 crore investment in Pathways World School, a group of schools for students from kindergarten to Class XII. The quantum of stake the PE firm has picked up in the company was not disclosed. Pathways plans to utilise the fund in expanding its operation by setting up two more schools in the national capital region (NCR) centred on New Delhi. The company has earmarked an expenditure of Rs 350 crore, while the remaining Rs 250 crore will be raised through debt. (Mint<http://www.livemint.com/2010/04/25232059/Reliance-Capital-PE8217s-fi.html?h=A1> ) *DAL Expects Singapore Listing In 3-6 Months *- Caraf Builders & Constructions, the subsidiary of real estate major DLF Ltd, has increased its stake in DLF Assets Ltd (DAL) in Singapore. Caraf has acquired 245.2 million shares from private equity firm SC Asia for Rs 3,085 crore. Post this transaction, Caraf owns 91.9% stake in DAL, from 50% earlier. The move is significant for DLF as it will help DAL to be listed as a real estate investment trust in Singapore. DAL is expecting the listing in the next 3-6 months. (DNA<http://www.dnaindia.com/money/report_dlf-a-step-closer-to-dal-reit_1375545> ) *Carlyle May Part Exit From Claris Lifesciences *- Carlyle Group, a global private equity investment firm, is likely to part exit from Claris Lifesciences Ltd, an Ahmedabad-based parenteral drugmaker. Carlyle had invested Rs 90.50 crore in March 2006 for 13.89% stake in the company through its Carlyle Asia Growth Partners III fund. Claris Lifesciences has already filed draft red herring prospectus (DRHP) earlier this week for the initial public offer, which is going to be an exit route for the PE firm. (ET<http://carlyle%20may%20part%20exit%20from%20claris%20lifesciences%20-%20carlyle%20group,%20a%20global%20private%20equity%20investment%20firm,%20is%20likely%20to%20part%20exit%20from%20is%20likely%20to%20partially%20exit%20claris%20lifesciences%20ltd,%20an%20ahmedabad-based%20parenteral%20drugmaker.%20carlyle%20had%20invested%20rs%2090.50%20crore%20in%20the%20march%202006%20for%2013.89%%20stake%20through%20its%20carlyle%20asia%20growth%20partners%20iii%20fund.%20claris%20lifesciences%20has%20already%20filed%20draft%20red%20herring%20prospectus%20%28drhp%29%20earlier%20this%20week%20for%20the%20initial%20public%20offer,%20which%20is%20going%20to%20be%20an%20exit%20route%20for%20the%20pe%20firm.%20%28et%29/> ) *ICICI Venture Close To Offlaoding I-Mint Stake* - ICICI Venture, the country’s largest private equity firm, is in the final stages of selling its majority stake in i-mint to a German company and a private equity firm. i-mint, India’s first multiple partner consumer rewards programme, will be taken over by German company Loyalty Partner and Peepul Capital. The transaction is said to have valued the company at Rs 120 crore or around $27 million. ICICI Venture had around 85% stake in the company while the remaining stake was held by some employees and a couple of other outside stakeholders. (ET<http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/I-Venture-close-to-offloading-i-mint-stake/articleshow/5850728.cms> ) *Bry Air To Buy A Japanese Co *- Bry Air, a subsidiary of Delhi-based Pahwa group of company, is in advanced stages of discussions to acquire a Japanese company. This is part of company’s plan to expand its global footprint, and is likely to pay $5 million for the Japanese co. The deal is expected to be completed within three months. Bry Air is a global solution provider for environmental control with specialisation in humidity control, dehumidification, drying, storage, preservation, air and gas purification among others. (Business Line<http://www.thehindubusinessline.com/blnus/09251310.htm> ) *Hindustan Dorr-Oliver To Raise Rs 250Cr In QIP *- Hindustan Dorr-Oliver (HDO), the listed subsidiary of IVRCL Infrastructure and Projects Ltd, is planning to raise about Rs 225-250 crore through a qualified institutional placement (QIP). It plans to utilise the fund in expanding manufacturing capabilities through setting up of greenfield projects and acquisitions. HDO is an engineering company focusing on mineral benefication, water treatment plants, process equipment/ solutions and other critical technologies including liquid-solid separation. In March, it had acquired DavyMarkham, a heavy engineering company based in Sheffield, UK. The issue is slated to hit the market in the next 3 to 6 months. (DNA<http://www.dnaindia.com/money/report_hind-dorr-plans-qualified-institutional-placement-of-rs250-crore_1375542> ) *RBI Writes New PE Valuation Norms For Private Cos *- With the new RBI norms for the valuation of private companies coming in place, foreign private equity firms will face stiff valuations when they decide to buy stakes in unlisted companies. The shares in unlisted companies will now have to be valued using a discounted cash flow model. The central bank has amended the provisions under the Foreign Exchange Management Act and a circular is expected shortly. This will remove any discretion in price-fixing and also reduce the chances of lower valuation under the earlier guidelines that fixed the price at average of two different valuations. (ET<http://economictimes.indiatimes.com/markets/stocks/market-news/New-PE-valuation-norms-for-unlisted-cos/articleshow/5857772.cms> ) -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
