Future`s PE arm picks up 10% in Percept for Rs 65 cr

Indivision, the private equity arm of Future Capital, is picking up a 10 per cent stake in Percept Ltd, the flagship company of the Percept group, for nearly Rs 65 crore.The deal values Percept, an entertainment, media and communications player, at Rs 650 crore.

Percept has a presence in advertising, public relations, media communications, film and TV content production and distribution, talent management, sports and events marketing in India and West Asia.

The investment will provide significant synergies to the Future Group, which has a large advertisement budget and aligns well with group’s businesses such as Future Media, which has interests in media and advertising.

Group company Future Ventures is said to have created three joint ventures with Percept in the field of media buying, Bollywood-themed retail and entertainment & investor relations management businesses. Future Capital officials declined to comment on the deal.The Rs 1,700 crore Indivision has invested in many companies such as kidswear manufacturer and marketer Liliput, beauty and wellness chain VLCC, construction firm BE Bilimoria and wine producer Sula Wines among others.

Indivision picks up 33% in Regen

Indivision, Future Capital’s private equity arm, has bought 33 per cent stake in Chennai-based wind turbine manufacturer, Regen Powertech, for $25 million.

Regen, the exclusive licencee for technology know-how from Germany’s Vensys, will set up a manufacturing facility to produce gearless turbines at Tada, Andhra Pradesh in a couple of months.

Regen was started by Madhusudan Khemka and R Sundaresh, who were earlier with the Khemka family-promoted wind turbine manufacturer NEPC Micon.

Indivision Fund was set up in September 2006 and committed nearly 35 per cent of it $ 425 million so far. It invests in high-growth entrepreneur backed companies.

Read more in The Economic Times article.

Sula Wines Sells 20% Stake For Rs 50 Crore To Indivision Capital

Indivision Capital, the private equity firm sponsored by the Future Group (formerly Pantaloon), has picked up 20 per cent stake in Sula Wines for Rs 50 crore ($12.5 million). This will be the second PE investment in Sula. Earlier, in 2005, GEM India Advisors picked up about 30 per cent stake in Sula for Rs 15 crore ($3.5 million).

GIA is also divesting a part of its holding to Indivision, after which it will keep about 20 per cent stake in Sula. The remaining part of the stake will be in the form of fresh equity.

Sula has appreciated five times in valuation in the last two years, and this seems to be a great investment for GIA. Sula is headed for an IPO in 2008. Sula's founder Rajeev Samant said that he had received offers from a variety of PE funds and strategic investors (probably at 5-10 per cent higher valuation), but decided to go with Indivision, since the group retail chain Big Bazaar offered "excellent synergies for distribution".

Besides Sula, another wine maker Champagne Indage had sold close to 10 per cent stake in the Singapore-based Arisaig Partners in 2005. Reliance Capital did also pick up 9 per cent stake in the Chougule family-controlled Champagne Indage.Grover Vineyards was also looking to raise private equity. Ambit Corporate Finance was advising them.