John Energy Limited is raising $20 mn by selling an undisclosed minority stake to 
Sage Capital Funds Management Pvt. Ltd.
Sage capital will invest in the company through Sage NPE India Fund 1.
Singhi Advisors was the sole advisor to the deal.
Transaction Reference: VCCIRCLE
John Energy limited, established in 1987, provides services to the Oil & Gas Industry. The company engages in drilling of new oil wells, rehabilitation of abandoned oil wells and oil recovery services.
Last year, the company announced its plans to raise Rs100 cr from the capital market.
As on March 31st 2009, its order book was worth Rs 700 cr and all its rigs were booked for the next 2 years.
Hydrocarbon majors such as Reliance, ONGC, Cairn and GSPC are among John Energy’s main customers who hire drilling rigs from it.
In 2008, JEL had acquired four rigs for deployment in Kazakhstan and North African countries.
In 2006, the company had raised funds from RARE Enterprises.
Sage Capital manages the $200 mn fund whose investment ranges between $5 mn and $15 mn. In January, Sage Capital had invested $10 mn in Concord Enviro Systems Pvt Ltd.
Earlier this month, Franklin Templeton Asset Management had invested $19.95 mn in Shiv-Vani Oil & Gas Exploration Services Ltd.
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
| 31/03/10 |
John Energy-Sage Capital |
Private Equity |
Sage NPE India Fund 1 |
16.62 |
| 22/02/07 |
John Energy - Rakesh Jhunjhunwala (Rare Enterprises) |
Private Equity |
Rakesh Jhunjhunwala & family |
11.30 |
| Date | Type | Buyer | Target | Size ($mn) | State |
| 03/02/12 |
Private Equity |
Goldman Sachs Capital Partners |
Aban Offshore Limited (Aban Loyd Chiles Offshore Limited) |
4.59 |
Completed |
| 25/01/12 |
M&A |
ONGC Videsh Limited |
OAO Yamal LNG |
- |
Planned |
| 23/01/12 |
M&A |
Ocean Sparkle Limited |
Tag Offshore Limited |
79.68 |
Called Off |
| 12/01/12 |
M&A |
Oil India Limited |
Cove Energy Plc |
- |
Planned |
Fund |
| Name | Corpus | Target Sector | Website | KeyContact |
| Sage NPE India Fund 1 |
67.7 |
IT/ITES/Technology
Engineering / Capital Goods
Consumer Goods |
http://www.natixis-pe.com/uk/page.php?contenu=sage_capital |
Manish Kanchan
|
Company |
| Name | Promoters | Office | Competitor | Website |
| John Energy Limited |
Mahesh Kumar Natvarlal Vyas |
Plot No.220, GIDC Estate |
Hindustan Oil Exploration Co. Limited |
www.johnenergy.com |
 |
Singhi Advisors |
