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1) Genpact Acquires Nissan Motor's HR Operation
http://www.dealcurry.com/20110711-Genpact-Acquires-Nissan-Motor-s-HR-Operation.htm
Genpact India has acquired HR services subsidiary of Nissan Motor Co. Ltd and has bagged a seven-year contract to offer HR services to Nissan's employees.
Nissan Human Information Service (NHIS) in Yokohama has 136 staff which will be absorbed by Genpact. NHIS has operated as a subsidiary of Nissan Motor Ltd. since 2000 and currently handles HR functions for 54,000 Nissan employees worldwide. Nissan Human Information will be renamed Genpact Japan Service and will significantly increase Genpact’s onshore service delivery capability in Japan.
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2) Eko India Raises $5.5 Mn From Creation Investments, Promus Equity Partners
http://www.dealcurry.com/20110711-Eko-India-Raises-5-5-Mn-From-Creation-Investments-Promus-Equity-Partners.htm
Delhi-based rural banking infrastructure provider Eko India Financial Services Pvt Ltd has raised $5.5 Mn from US-based PE fund Creation Investments Social Ventures Fund I, with Promus Equity Partners and a consortium of high net worth investors also participating.
The funds raised by Eko will be used for expanding its mobile banking platform and agent footprint, and also in scaling its product footprint.
Last December, Eko India raised Series A funding from US-based 4B Capital.
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3) CLSA's Bhavtosh Vajpayee Joins Barclays Capital As Head Of Equities, India
http://www.dealcurry.com/20110711-CLSA-s-Bhavtosh-Vajpayee-Joins-Barclays-Capital-As-Head-Of-Equities-India.htm
Barclays Bank's investment banking unit Barclays Capital, has appointed Bhavtosh Vajpayee as the MD and Head of Equities for India.
He will be responsible for leading and developing Barclays Capital's India equity research, sales and trading business. He will be based in Mumbai and will report to Mike Di Iorio, Head of Equities for Asia Pacific.
He joins Barclays from CLSA, where he was the head of technology research and has also worked with J P Morgan Stanley.
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4) Group Buying Site GrOffr Raises Funding From Indian Angel Network
http://www.dealcurry.com/20110711-Group-Buying-Site-GrOffr-Raises-Funding-From-Indian-Angel-Network.htm
Mumbai-based RCSPL, which owns real estate group buying portal GrOffr.com is raising its first round of funding from Indian Angel Network.
GrOffr will use the funds for expansion. Groffr was started in July 2010 by two IIM-Kozhikode alumni Vikhyat Srivastava and Sandeep Reddy. The portal offers group buying deals for high-end products from real estate, automobiles, electronics to even helicopter tour rides. This year in March, Groffr.com acquired Mumbai-based Mobstreet.in, a group buying portal which was founded by Spandan Tolia.
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5) Sage Converts CCPS in Concord EnviroSystems; Now at 26%
http://www.dealcurry.com/20110711-Sage-Converts-CCPS-in-Concord-EnviroSystems-Now-at-26-.htm
Sage NPE India Fund I has converted 420000 CCPS into Equity and now reached close to 26% in Concord EnviroSystems.
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6) PTC India To Float Two PE Funds
http://www.dealcurry.com/20110711-PTC-India-To-Float-Two-PE-Funds.htm
PTC India Limited is looking to float two private equity funds.One fund will be focussed on renewable energy and will floated by its subsidiary, PTC India Financial Services Limited, while the other fund will be general purpose fund floated by PTC India Ltd.
PTC India is planning JV for these PE funds and is looking for foreign or domestic partners. Last year, PTC India Ltd launched - Ashmore PTC India Energy Infrastructure Fund a PE fund in JV with Ashmore Group Plc, to invest in energy projects.
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7) Providence Equity Partners May Exit Idea Cellular
http://www.dealcurry.com/20110711-Providence-Equity-Partners-May-Exit-Idea-Cellular.htm
US-based Providence Equity Partners may exit from Idea Cellular Ltd.
Providence through its investment arm P5 Asia Investment (Mauritius) Ltd holds 9.99% in Idea Cellular and the stake is valued at around Rs.2,684 Cr at Idea's closing price of Rs.81.35 per share on Friday. Providence had bought 15% in Idea Cellular in 2006 for around Rs.1,800 Cr and diluted 5.01% in various tranches in 5 years.
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