Yatra to raise fresh capital of Rs840 cr

Euronext NA-listed Yatra Capital, an India-focused real estate fund, is planning to raise a fresh capital of €150 million (Rs840 crore).This will be Yatra’s second fund. The first fund of €100 million was raised in December 2006. The new fund offer opened on Tuesday and is expected to close over the next three weeks, said Yatra’s founder and managing director, Ajoy Kapoor. The offer consists of a public offering in the Netherlands and a private placement with institutional investors. Since raising its initial capital, Yatra has committed to or acquired investments totalling €88.4 million, mostly in tier-II cities such as Pune. It also has €77.46 million euros of investments in the works.

ABN AMRO Rothschild and Fairfax IS Plc. are the joint global coordinators and joint book-runners to the issue. Yatra has so far invested in 10 properties in tier-II and III cities and is looking for opportunities in major metros. It also is evaluating opportunities in smaller tier-IV towns.

Read more in The Live Mint article.

Lehman, Warburg, Carlyle eye 20% of Angel Broking

Leading private equity investors Lehman Brothers, Warburg Pincus and Carlyle Group are in talks with Angel Broking to buy a 20% stake in the Mumbai-based retail broking firm.

Angel Broking is the latest to join the PE bandwagon after leading industry players like Motilal Oswal Securities, Edelweiss Capital and India Infoline roped in equity partners in the past. Angel is planning to raise about Rs 200 crore through the placement, pegging the broking firm’s valuation at around Rs 1,000 crore.

Investment banker Rothschild has been given the mandate to find equity partner and the deal is expected to be sewed up by September-end.A 100% retail player, Angel Broking has chalked out an expansion plan under which it has identified 250 new locations in addition to its existing branch network of 70. It offers a range of services like broking, research, investment advisory, wealth management, e-broking and commodities trading to about two lakh clients.Angel Broking records daily business volumes of Rs 1,500 crore and enjoys about 3% market share.

Read more in The Economic Times article.