Is Investment Picking Up?

Gurgaon, India (PressExposure) July 10, 2009 -- July has kicked with fresh rounds of investment action. The government has cleared a Rs 11,000-crore foreign direct investment proposal of French tyre giant Michelin to set up a manufacturing facility in Tamil Nadu. The Foreign Investments Promotion Board (FIPB) had cleared the proposal under which Compagnie Financiere Michelin (CFM) plans to set up a wholly-owned subsidiary to make radial tyres, tubes and ancillary tyre related products at the plant, according to an official release.

Meanwhile, Naresh Trehan's Global Health has raised Rs 500 crore debt. Four PSU Banks - have participated in the debt syndication, which was completed within 60 days of its launch. The project envisages construction of a 1,250 bed facility in Gurgaon at a total cost of Rs 932 crore to be funded at a debt-equity ratio of 1:10. The hospital is at an advanced stage of completion, which is expected to commence operations from October 1, 2009.

Siemens Venture Capital has also said that it has acquired stake in Transparent Energy Systems, a Pune based provider of energy and waste heat recovery system.

Siva Ventures (SVL), the investment arm of the NRI businessman C Sivasankaran promoted Sterling Infotech Group owns a 49% stake in Sahara Group's Aamby Valley, which was floated to develop the Aamby Valley City, reports The Economic Times.

Overall, June also saw signs of recovery with The Economic Times reporting that propelled by a recovery in the stock market, private equity investment into the country shot up to $1.03 billion in the June quarter, an increase of 17 per cent sequentially. The PE firms have invested $1.03 billion across 54 deals during the quarter ended June 2009, a 17 per cent surge over the previous quarter, which saw 42 deals worth $883.97 million, according to data compiled by SMC Capitals.

According to a report by research firm Venture Intelligence, the single-largest investment in Q2 was IDFC PE and Oman Investment Fund's Rs 600 crore commitment to QuippoTelecom. This was followed by Norwest Venture Fund's acquisition of 2.1 per cent stake in the National Stock Exchange for Rs 250 crore. In the June quarter, the IT &ITeS sector registered 12 deals worth $67 million, followed by healthcare and life sciences (six deals worth $129 million) and BFSI (six deals worth $116 million).

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Press Release Submitted On: July 10, 2009 at 9:48 am
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