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Private Equity | 5 December 2012

Dalmia Continental To Raise PE Investment

by Charmi Gutka
 
@charmi
@Dalmia_Continental, flagship company of Dalmia Jain Group is planning to raise R25Cr PE investment by offloading 22% stake in the company for further expansion in its FMCG business.

The company plans to use the funds for marketing expenses to promote its Leonardo brand in the FMCG category, BL stated.

In September, Italian firm Nicola Pantaleo acquired 27% stake in the company. Nicola Pantaleo have been supplying olive oil to Dalmia Continental from 2003. It partnered with Pantaleo for stability of supply and guarantee of best prices.

FIPB Update: One Out Of 14 Referred Cases Approved

The Foreign Investment Promotion Board (FIPB) has approved the single FDI case of Bhartiya Samruddhi Investments and Consulting Services for the induction of foreign equity in the investing company of R27.72 Cr.

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FreeCharge Secures Series B Funding

Freecharge, an online platform for recharge, utility payments, promotions and couponing, has raised $33 Mn (c.INR 2,000 Mn) from existing investor Sequoia Capital India along with new investors Belgium-based investment firm Sofina and Russian Internet and technology investor ru-Net. The Series B infusion will be taken to build up its transactional advertising offerings.

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