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Private equity firm SKEGEN inks Rs 500 crore MoU with iDEX

Economic Times

Economic Times · 8m ago

Private equity firm SKEGEN inks Rs 500 crore MoU with iDEX

SKEGEN Asset Management signed a Rs 500 crore MoU with the Ministry of Defence's iDEX to boost growth in design, product development, and manufacturing in India. The firm will invest Rs 360 crore in Sagar Defence Engineering and Zeus Numerix to support innovation and IP creation. SKEGEN aims to support companies needing growth capital for expansion. The firm plans further capital raising for Fund II in 2025, managing around Rs 4,000 crore currently.

Related News

IPO-bound Gaja names ex-Sebi chief Sinha as non-exec chair

Livemint

Livemint · 4m ago

IPO-bound Gaja names ex-Sebi chief Sinha as non-exec chair

Gaja Capital Alternatives AMC, a homegrown private equity firm, is planning to raise ₹500 crore through an IPO, making it the first standalone private equity firm in India to list on exchanges. The firm has appointed former SEBI chief U.K. Sinha as non-executive chairman and restructured its board of directors in preparation for the IPO.

InCred marks first close of maiden PE fund

VCCircle

VCCircle · 1y ago

InCred marks first close of maiden PE fund

InCred Alternatives Investment, a subsidiary of InCred Group, has achieved the first close of its debut private equity fund. Named InCred Growth Partners Fund-I, the fund aims to raise approximately Rs 500 crore and diversify its portfolio. This marks an important milestone for the firm as it expands its investment strategy beyond its existing offerings.

PE firm InvAscent backs multi-speciality hospital chain SRV Hospitals

VCCircle

VCCircle · 6m ago

PE firm InvAscent backs multi-speciality hospital chain SRV Hospitals

InvAscent, a healthcare-focused private equity firm, invested Rs 140 crore in SRV Hospitals, a Mumbai-based multi-speciality hospital chain. This is InvAscent's fifth investment from its fourth fund, following a January deal with Geri Care. The funding aims to support SRV's organic and inorganic growth. InvAscent's fourth fund, targeting $325 million, has also invested in Mavia Pharma and Fleming Laboratories. SRV Hospitals operates over 500 beds across India.

Two PE-backed pharma companies get SEBI nod for IPO

VCCircle

VCCircle · 11m ago

Two PE-backed pharma companies get SEBI nod for IPO

Pharmaceutical companies Sai Life Sciences and Rubicon Research, backed by private equity firms TPG and General Atlantic respectively, have received approval from SEBI to proceed with their initial public offerings (IPOs). Sai Life Sciences aims to raise Rs 800 crore through a fresh issue and an offer for sale, with a portion of the funds allocated for debt repayment. Rubicon Research's IPO involves a fresh issue of equity shares worth Rs 500 crore and an offer for sale valued at Rs 585 crore, with plans to use the proceeds for debt payment and inorganic growth.

NBCC inks pact with HUDCO to execute projects worth Rs 117 crore

Economic Times

Economic Times · 1m ago

NBCC inks pact with HUDCO to execute projects worth Rs 117 crore

State-owned NBCC (India) Ltd has signed a Memorandum of Understanding (MoU) with the Housing and Urban Development Corporation Ltd (HUDCO) to execute development projects worth Rs 117 crore. These projects include a commercial complex in Kaushambi, the redevelopment of HUDCO's Panchkula land, new office blocks in Ahmedabad, and residential flats reconstruction at the Asian Games Village in New Delhi. The agreement signifies a comprehensive investment to transform these areas.

NGEL Inks MoUs with GSPC and GPPL during Vibrant Gujarat Global Summit

Startup News FYI

Startup News FYI · 1y ago

NGEL Inks MoUs with GSPC and GPPL during Vibrant Gujarat Global Summit

NTPC Green Energy Ltd (NGEL) has signed MoUs with Gujarat State Petroleum Corporation Ltd. (GSPC) and Gujarat Pipavav Port Ltd. (GPPL) during the Vibrant Gujarat Global Summit held at Gandhinagar. The MoU with GSPC aims to blend Green Hydrogen in the gas networks and establish Green Hydrogen fuelling stations in Gujarat. The MoU with GPPL aims to develop a Green Hydrogen ecosystem and explore the use of Pipavav Port for offshore wind farms. NGEL, a subsidiary of NTPC, has an operational capacity of over 3.4 GW with 26 GW in the pipeline. GSPC is engaged in gas trading, exploration, and production, while GPPL is a leading private port.

How Omega Hospitals was valued in its first PE deal

VCCircle

VCCircle · 1y ago

How Omega Hospitals was valued in its first PE deal

Hyderabad-based Omega Hospitals, a chain of cancer hospitals, has successfully raised capital in its first funding round with Morgan Stanley Private Equity Asia investing Rs 500 crore. This investment is expected to secure a controlling stake in the company and marks a significant milestone in Omega Hospitals' growth.

Blackstone's India logistics platform inks deal to manage govt warehouses

VCCircle

VCCircle · 1y ago

Blackstone's India logistics platform inks deal to manage govt warehouses

Private equity firm Blackstone has partnered with the Central Warehousing Corporation (CWC) to develop and modernise warehousing assets across India. Blackstone's logistics platform, Horizon Industrial Parks, will enter a 45-year contract to design, build, finance, and operate the facilities, with the aim of facilitating the development of Grade A warehouses across 13 locations. The partnership has a cumulative development potential of 2.4 million square feet and an investment potential of over INR 700 crore ($93.6m). The CWC has also awarded contracts for the redevelopment of three additional properties to RSA Warehousing, TransAsia Shipping, and LL Logistics.

BPEA EQT scores modest returns as it wraps up over $500 mn India exit

VCCircle

VCCircle · 1y ago

BPEA EQT scores modest returns as it wraps up over $500 mn India exit

BPEA EQT, a Hong Kong-based private equity firm, has completed its exit from India, generating modest returns. The firm had made three private equity deals in India last year and was among the most active in monetizing its investments in the country. BPEA EQT recently concluded a $500 million transaction with HDFC Credila. Despite the modest returns, the firm remains optimistic about future investment opportunities in India.

Ex-defence secretary Ajay Kumar joins VC play with early-stage fund

Economic Times

Economic Times · 1y ago

Ex-defence secretary Ajay Kumar joins VC play with early-stage fund

Ajay Kumar, former defence secretary of India, has launched Mounttech Growth Fund, a venture capital firm focusing on early-stage startups in defence, aerospace, and deeptech sectors. The fund, valued at Rs 250 crore, has received subscriptions worth Rs 280 crore and plans to raise an additional Rs 250 crore. The fund's first scheme, called Kavach, is backed by Suryakant Dalmia and includes retired armed forces officers as advisors. Kumar aims to tap into the opportunities created by the government's iDEX program and forge partnerships with venture capital firms and academic institutions.

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