PE funds buy 3.35 per cent stake in Acme Tele Power
March 15, 2008
Mauritius-based private equity (PE) funds Monsoon India Inflection and Jackson Heights Investments have picked up 3.35 per cent stake in Acme Tele Power for Rs 4 billion. The deal puts Acme's valuation at around Rs 119.4 billion and marks the second round of private placements by Acme.
In 2007, Acme offloaded 1.66 per cent stake to three PE firms - DB International, Earthstone Holdings and Kotak Mahindra Capital -– for Rs 1.97 billion.
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