Valiant Partners Cuts Stake In Pipavav Defence
Valiant Mauritius Partners FDI Limited sold part stake in Pipavav Defence and Offshore Engineering by offloading 90 lakh shares or around 1.28% stake.
The Mauritius based PE firm which held 2.54 Cr shares or 3.62% stake as on September 2012 sold the shares for R95.68 per share raising over R86.11 Cr.
The shares were bought by multiple FIs which included Keynote Capitals, Abhishek Finance & Investment, Mudra Securities and Aashka Holdings.
Recently in July Neelanchal Mercantile Pvt. Ltd. bought 1.10% stake in Pipavav for R44.85 Cr along with addition by the promoter group of 0.72%. During that Small Cap World Fund had cut its stake by 0.98% from its earlier 4.89% held and currently has 2.65% stake as on September 2012.
In August, Swedish defence company Saab had signed a MoU for a strategic investment in Pipavav Defence worth around MSEK 250.
In June French defence player DCNS was planning to acquire a minority stake in Pipavav Defence for around R800 Cr after forming strategic partnership to build assets for the Indian Navy and Coast earlier and prior to that GIC was planning a stake purchase in the company.
In May LIC had put in R171 Cr by buying 2.15 Cr shares for R79.50 a piece. It now has 8.34%.
Pipavav Defence's business segments comprise of defence, offshore, marine and engineering and it has two units, one SEZ unit spread over around 95 hectares of land and another EOU spread over around 103.92 hectares of land.
Pipavav Defence on BSE
Valiant Mauritius had recently invested in Shriram Housing Finance, a subsidiary of Shriram City Union Finance in March. Shriram Housing had announced plans to raise R75 Cr from both PE investors and promoters by diluting 20-22% stake.
In the defence space, state owned Bharat Electronics had formed a JV with French defence firm Thales.
SREI Infrastructure Finance had earlier planned to launch a $150 Mn PE fund for defence and security sector last year in March and L&T had formed a JV with Europe’s Cassidian for defence electronics.
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|2013-02-01||Pipavav Defence - Stake Sale||IPO / Offerings||412.84|
|2012-12-14||Pipavav Defence and Offshore - Valiant Mauritius Partners||Capital Market||
Abhishek Finance & Investment
Keynote Capital Ltd.
|2012-08-24||Saab - Pipavav Defence||Private Equity||
|2012-07-30||Pipavav Defence and Offshore Engineering - Neelanchal Mercantile||Capital Market||
Neelanchal Mercantile Private Limited
|2012-07-30||Pipavav Defence and Offshore Engineering - Small Cap World Fund (Part Exit)||Capital Market||7.02|
|2012-06-22||Pipavav Defence - DCNS||Private Equity||
DCNS S.A (France)
|2012-05-03||Pipavav Defence - LIC||Capital Market||
Life Insurance Corporation of India
|2011-11-22||Pipavav Defence - Fund Raising||Private Equity||
|2011-09-06||Pipavav Defence - Rakesh Jhunjhunwala||Private Equity||
|2010-10-22||Pipavav Shipyard - Trinity Capital (Stake Sale)||Private Equity||36.97|
|2010-10-19||Pipavav Shipyard - Citadel (Stake Sale)||Private Equity||23.36|
|2010-10-07||Pipavav Shipyard - Trinity Capital (Stake Sale).||Private Equity||13.09|
|2010-09-30||Pipavav Shipyard - Public (Exchange)(PE)||Private Equity||
|2010-06-30||Pipavav Shipyard - Public (Exchange)(PE)||Private Equity||
|2010-06-18||Pipavav Shipyard - Reliance Industries||M&A||
Reliance Industries Limited
|2010-04-16||Pipavav Shipyard - Outbound Acquisition||M&A||
Pipavav Defence And Offshore Engineering Company Limited
|2010-04-08||Pipavav Shipyard - Valiant Fund||Private Equity||
Valiant Mauritius Partners Offshore
|2010-03-31||Pipavav Shipyard - Public (Exchange)(PE)||Private Equity||
|2010-03-29||Punj Lloyd - Pipavav Shipyard - SKIL Infra, SKIL Shipyard||M&A||
SKIL Shipyard Holdings Private Limited
SKIL Infrastructure Limited
|2010-01-15||2i Capital-Pipavav Shipyard||Capital Market||12.04|
|2009-12-31||Pipavav Shipyard - Public (Exchange)(PE)||Private Equity||
|2009-09-18||Pipavav Shipyard - IPO||IPO / Offerings||102.87|
|2009-09-15||Pipavav Shipyard- Anchor Investment||IPO / Offerings||18.87|
|2008-04-17||Pipavav Shipyard - Cadell Weaving Mill||Private Equity||
Cadell Weaving Mills Private Limited
|2008-01-31||Pipavav Shipyard - JM Fin. MF, JM Fin. Products||Private Equity||
JM Financial Products Limited
JM Financial Asset Management Private Limited
|2008-01-11||Pipavav Shipyard - Kundan Infra||M&A||
Kundan Infra Private Limited
|2008-01-10||Pipavav Shipyard - Galleon Special, Deutsche Bank||Private Equity||
Deutsche Bank AG
Galleon Special Opportunities Master Fund SPC Limited
|2008-01-09||Pipavav Shipyard - Manz Retail Pvt.||M&A||
Manz Retail Private Limited
|2007-12-24||Pipavav Shipyard - JM Infocom & Property||Private Equity||
JM Infocom & Property Investment Pvt ltd
|2007-12-24||Pipavav Shipyard - Merrill Lynch Int'l||M&A||
Merrill Lynch International
|2007-12-06||Pipavav Shipyard - Blackstone Advisors (The Asia Offshore)||Private Equity||
Blackstone Advisors India Private Limited
|2007-11-30||Pipavav Shipyard - India Fund Inc||Private Equity||
India Fund Inc
|2007-11-07||Pipavav shipyard - IL&FS Trust Company||Private Equity||
IL&FS Trust Company Limited
|2007-11-07||Pipavav Shipyard - IDBI||Private Equity||
IDBI Bank Limited
|2007-11-07||Pipavav Shipyard - SembCorp Industries Ltd.||M&A||
SembCorp Industries Limited
|2007-09-30||Pipavav Shipyard - Citadel||Private Equity||
Citadel Investment Group, LLC.
|2007-09-17||Pipavav Shipyard - Punj Lloyd Ltd.||M&A||
Punj Lloyd Limited
|2007-06-25||Pipavav Shipyard - Sneha Metals||Private Equity||
Sneha Metals Private Limited
|2007-05-28||Pipavav Shipyard - UTI(ULIP)||Private Equity||
UTI Mutual Fund
|2007-03-29||Pipavav Shipyard - Jacob Ballas||Private Equity||
New York Life Investment Management India Fund II
|2007-03-08||Pipavav Shipyard - Trikona Trinity Capital Round 1||Private Equity||
Trinity Capital PLC
|2007-02-08||Pipavav Shipyard-2i Capital PCC||Private Equity||
2i Capital PCC
|2006-09-14||Pipavav Shipyard - Exim Bank||Private Equity||
Exim Bank of India
|2006-03-17||Grevek-Pipavav Shipyard - IL&FS||Private Equity||10.79|
|2005-10-13||Pipavav Shipyard - Grevek Investment||Private Equity||1.00|
|1999-10-26||Pipavav Shipyard - Montana Infrastructure(PE)||Private Equity||
Montana Infrastructure Limited
|Pipavav Defence And Offshore Engineering Company Limited||SKIL Infrastructure Limited||Pipavav Port, Post Ucchaya, Via Rajula||
ABG Shipyard Limited
Bharati Shipyard Limited
|Keynote Capital Ltd.|
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