Paragon Partners, others invest $17 million in Maini
The Dollar Business BureauParagon Partners, together with its co-investors, will invest $17 million (Rs.111 crores) in Bengaluru-based Maini Precision Products Ltd. (MPPL) through primary and secondary transactions. "We have been closely following the manufacturing and industrial sector in India and are very excited about our partnership with Maini,” said Siddharth Parekh, Co-Founder & Senior Partner, in a statement. "This deal is representative of Paragon's investment philosophy of partnering with high-quality entrepreneurs with differentiated business models and assisting them in scaling up operations through strategic and operational guidance," Parekh said. Paragon Partners is the private equity venture of Siddharth Parekh and Sumeet Nindrajog. The group generated Rs.1,300 crore from domestic and overseas investors in 2016. MPPL becomes the second investment ...
Harley Foods aims to tap global markets, looks for investors
Sharath Chowdary Gujarat based Harley Foods Products Pvt Ltd plans to tap international markets very soon. The branded snack food company is all set to foray into confectionery industry and aims to launch the candy and packaged sweet products before the festival of Diwali this year. “Indian snacks and traditional sweets have huge demand in overseas markets particularly in the countries like the US, Malaysia, Singapore and Middle East, where many people from India live. We are planning to export our food products to these countries very soon. We are targeting around 20% of the turnover from the markets abroad,” Soumiik Mitra, CMD of Harley Foods told The Dollar Business Bureau. The 10-month old company has a sales turnover of Rs.7.5 crore ...
Mahindra arm invests in US-based Scoot Networks
The Dollar Business Bureau Mahindra Group’s private equity arm Mahindra Partners has invested an undisclosed amount in the US based urban mobility solutions provider Scoot Networks in the new round of funding, the company said in a statement. Along with this, Scoot Networks has added 500 Mahindra Genze electric scooters to its fleet. The $900-million private equity and venture capital firm has completed financing a new round in Scoot Networks. Vision Ridge Capital is one among the other investors who have invested in this San Francisco-based company earlier. Speaking about the partnership, Anand Mahindra, Chairman of Mahindra Group, said that the company has tied up with Scoot Networks team to offer a solution to the urban commuting challenges such as pollution, parking and ...
JLL expects 20% more FDI into Indian realty
Sharath Chowdary | The Dollar Business Indian real estate is all set to improve its position on transparency with Real Estate Regulation and Development Act (RERA) 2016, which was recently passed in the Parliament. Ashutosh Limaye, JLL India Head – Research & Real Estate Intelligence Service, told The Dollar Business Bureau: The RERA is going to improve the standards of the real estate sector in the country. It will also help the sector attract additional foreign direct investment (FDI). “Currently, Indian real estate is attracting an FDI of $2 billion per annum, but we expect 20% growth within a year, as the new real estate regulator goes effective. Overall, transparency and accountability levels will increase, which is certain to fetch more into ...
India Inc draws $7.1 bn private equity funds in six months
Sai Nikesh D | The Dollar Business Indian companies seem to have gained more trust of private equity investors who have already pumped in more than $7 billion in the past six months, more than 38% invested during the first half of last year. With $7.1 billion commitment involving 460 deals with IT&ES (Information Technology and IT-enabled services), banking & finance and pharmaceuticals sectors, private equity funds’ participation in H1 of 2015 witnessed 38% year-on-year growth, said Associated Chamber of Commerce and Industry (ASSOCHAM), in its study. Speaking to The Dollar Business, Arvind P Mathur, president, Indian Private Equity & Venture Capital Association (IVCA), said, “Private equity players are focusing prudently and selectively in diverse range of Indian enterprises. They ...
