Deals Buzz: Paytm’s Vijay Shekhar Sharma divests 1% stake to raise Rs325 crore3 min read . Updated: 09 Dec 2016, 12:15 PM IST
In other news, IL&FS plans to raise up to Rs5,000 crore in six months and Peninsula Brookfield buys flats worth Rs120 crore from Omkar Realtors
Mumbai: Mint brings to you your daily dose of top deals reported by newsrooms across the country.
Peninsula Brookfield buys flats worth Rs120 crore from Omkar Realtors
Private equity (PE) firm Peninsula Brookfield Investment Managers Pvt. Ltd has bought apartments worth Rs120 crore in Omkar Realtors and Developers Ltd’s luxury residential project in south Mumbai, according to two people aware of the matter.
The structured debt transaction marks the last investment by Peninsula Brookfield India Real Estate Fund, the maiden fund of the PE firm, which is a joint venture between developer Peninsula Land Ltd and global alternative asset manager Brookfield Asset Management.
The fund has invested Rs1,100 crore in the form of structured debt by subscribing to non-convertible debentures across property markets. Read more
IL&FS plans to raise up to Rs5,000 crore in six months
Infrastructure Leasing and Financial Services Ltd (IL&FS) is planning to raise up to Rs5,000 crore through various group companies within the next six months, its managing director Ramesh Bawa said.
The firm also plans to issue $300 million worth of masala bonds by January, Bawa said.
Last month, the firm raised a Rs340 crore rupee-denominated loan, or masala loan, from international financial institution Export Development Canada (EDC). Masala bonds are Indian rupee-denominated bonds issued in offshore capital markets. Read more
Fundraising through QIPs set for a five-year low in 2016
Publicly-traded Indian companies are set to raise the lowest amount in five years through the so-called qualified institutional placement (QIP) route, with only Rs4,480.5 crore raised so far this year.
In contrast, Rs31,684.2 crore and Rs19,064.9 crore was raised through QIPs in 2014 and 2015, respectively, data from primary market tracker Prime Database shows.
In QIPs, listed companies sell shares, fully and partly convertible debentures, or securities other than warrants that are convertible into equity shares, to an institutional buyer.
The drop in QIPs comes in a year when companies have raised Rs25,163.3 crore through initial public offerings (IPOs), the highest in six years. Read more
Samara Capital picks stake in Sahajanand Medical Technologies
Private equity firm Samara Capital has acquired a stake in Gujarat-based stent-maker Sahajanand Medical Technologies (SMT) for approximately Rs170 crore, The Economic Times reported.
This is Samara Capital’s second investment in the medical devices and consumables sector after it acquired the surgical consumables platform Lotus Surgicals.
As part of the deal, Samara Capital’s managing director Gautam Gode and vice-president Abhishek Kabra will come on SMT’s board.
A majority of the PE firm’s investment is expected to fuel research and development to extend SMT’s product line in the cardiovascular segment. Read more
JP Morgan invests Rs200 crore in Assetz
Singapore-headquartered Assetz Property Group, which develops residential and commercial properties in southern India, has raised Rs200 crore from JP Morgan Asset Management, The Economic Times reported.
The capital, which has been provided in the form of equity by JP Morgan, will be used to build an 18.5-acre residential project in north Bangalore, said Akshay Dewani, director, Assetz Property Group.
Asetsz Property is diversifying into new segments and is in the process of forming commercial, industrial warehousing and residential platforms to raise capital and expand its presence.
Mint had reported in April that JP Morgan Asset Management Co. Ltd is set to invest about Rs200 crore in Assetz Property Group to help the developer buy a 20-acre land parcel in north Bengaluru to build a villa project. Read more
Paytm founder raises Rs325 crore by selling 1% stake
Digital payments platform Paytm’s founder Vijay Shekhar Sharma has divested 1% of his holding in the company to raise about Rs325 crore, The Times of India reported. The funding would be utilised for the group’s proposed payment bank.
Sharma sold the stake to one of the shareholders of One97 Communications Ltd, which owns Paytm, last week.
As of March 2016, Sharma held a 21.33% stake in One97 Communications which will now come down to 20.33%. The transaction values One97 Communications at about $4.7 billion. Read more
NBFC Capital First gets board’s nod to raise Rs340 crore
Non-banking financial company Capital First has received an approval from its board to raise Rs340 crore through a preferential issue. The company will allot 4.78 million equity shares to Caladium Investment, an affiliate of GIC, Singapore’s sovereign wealth fund, at Rs712.7 per share, it said in a filing with the stock exchanges.
Capital First had recently said that post this transaction, the total capital (including Tier 1 and Tier 2 capital) of the company will increase to Rs3,263 crore on a consolidated basis and the capital adequacy will increase to 21.6%.