Vatika sells 10% to 3 PE funds

Vatika Group, a Delhi-based realty firm, has divested 10.75 per cent for raising $250 million (Rs 1,000 crore) as private equity investments from Wachovia Bank, Baer Capital and Goldman Sachs. The deal estimates the valuation of the privately held Vatika at around Rs 9,302 crore.This is the first private equity investment in Vatika, which is planning its maiden public issue in 2009.

Vatika’s valuation at Rs 9,302 crore is higher than the market capitalisation of some listed bigwigs such as Bangalore-based Sobha Developers (Rs 6,269 crore) and Purvankara (8,284 crore); its Delhi peers such as Parsvnath Developers (Rs 6,398 crore), Omaxe (Rs 7,111 crore) and AnantRaj (Rs 8,557 crore) and the Mumbai-headquartered companies such as Akruti City (Rs 7,705 crore).

Read more in The Business Standard article.

Beacon India invests Rs 75 cr in engineering firm

Beacon India Private Equity Fund, belonging to Baer Capital Partners, has invested Rs 75 crore in A2Z Maintenance & Engineering Services, a fast-growing engineering, procurement and construction (EPC) company.

A2Z has registered massive growth over the last three years riding on the back of reforms in power sector and the unbundling of state-owned electricity boards.

The company recorded a turnover of Rs 182 crore last year and registered a compounded growth of 446 per cent, a press release said here on Tuesday.

Beacon India Private Equity invests in small and medium-sized companies across different sectors with investment size being in the region of $5 million to 25 million.