Monday, March 12, 2007

PE fund Evolvence India to list on LSE; would raise $65 mn

Isle of Man-based Evolvence India Holdings is planning to raise $65 mn (Rs. 290 crores) through placement of shares on London Stock Exchange. Evolvence is a private equity fund company which principally targets investments in the Indian subcontinent would place up to 65 mn ordinary shares of $1 per share. The company would primarily focus on India and give weightage to co-investment opportunities. The company would passively invest 70% of the investible funds to the Evolvence India Fund (focused on PE, real estate and infrastructure development in India), 10% in the Evolvence India Life Science Fund (focused on small to mid-sized Indian biotech firms) and 20% of the funds in direct investments.

Read The Economic Times article.

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