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The Dollar Business Bureau American private equity company Warburg Pincus said on Wednesday that it has acquired about 14% stake in the Indian multiplex chain PVR for around Rs.820 crore. “Affiliates of Warburg Pincus have acquired an equity stake of approximately 14% in PVR, India’s largest film and retail entertainment company for approximately Rs.820 crore,” the company said in a statement. The stake is being bought from the affiliates of private equity company Multiples, who will continue to be a long-term investor with equity stake of 14% and the present promoters who will remain to lead the business and continue to be the largest stakeholders with a shareholding more than 20%, it added. Ajay Bijli Chairman and Managing Director, PVR said, “The multiplex industry in India ...

The Dollar Business Bureau As a measure against the secret profit sharing agreements signed between private equity funds and promoters of listed firms, SEBI has made it mandatory for the parties involved to take prior approval of the board and public shareholders before getting into any such pact. This was announced during the meeting of the board which underlined the need for such disclosure as it has been found that private equity funds enter into compensation agreements with promoters, directors and key managerial personnel of listed investee companies, based on the performance of such companies. The new guidelines will apply to employees, including key managerial personnel and directors of listed companies, for themselves and on behalf of any other person.  It was also brought to ...

Sharath Chowdary Though the Government of Andhra Pradesh is aggressively trying to attract global investments for the development of the new capital city, investors are adopting a "wait and watch" approach to invest in the projects of the nearby urban centres like Vijayawada and Guntur. Private equity (PE) firms and non-resident Indians (NRIs) are observing the developments taking place in and around the new AP capital – Amaravati. Being cautious on the returns, they are still evaluating the growth prospects of the city, Knight Frank India Chief Economist and National Director-Research Samantak Das told The Dollar Business Bureau. He had released a detailed report on the two upcoming state capitals - Amaravati (AP) and Naya Raipur (Chhattisgarh), on Wednesday. The ...

The Dollar Business Bureau    Aimed at attracting long-term foreign capital in the country, the Finance Ministry in partnership with SBI Caps is organising a two-day India Investment Summit on February 4-5, 2016. The event, which would be attended by a large number of long-term investors including sovereign wealth and pension funds businesses across the globe, will focus on investment opportunities in road transport, highways, ports, urban infrastructure, railways, power and renewable energy sectors and state-level projects. “For the two days, special focus would be on investment opportunities in the sectors of road transport, highways, ports, urban infrastructure, railways, power and renewable energy, besides state-level projects,” a government statement said. Arun Jaitley, Minister of Finance, will be the chief guest and the ...