2011-06-16

Patni and sons enter PE space

Amit and Arihant, sons of Gajendra Patni, eldest of the Patni brothers, have set up Nirvana Venture Capital Ltd. The fund, co-founded by Gajendra Patni, was launched last month, according to sources i

Patni and sons enter PE space

Amit and Arihant, sons of Gajendra Patni, eldest of the Patni brothers, have set up Nirvana Venture Capital Ltd. The fund, co-founded by Gajendra Patni, was launched last month, according to sources in the family. The size could not be ascertained.

"Gajendra Patni Enterprises and Gajendra’s two sons have set up a PE fund," confirmed a source close to the family on condition of anonymity.

 

Aditya Parekh, son of HDFC chairman Deepak Parekh, has launched — Faering Capital, and raised Rs 830 crore for its first fund in February. Recently, Patni Computers was sold in a $1.2-billion deal to US-listed iGate. Each of the brothers — Gajendra, Narendra and Ashok Patni — held about 14 per cent stake in Patni Computers at the time of the final exit. The brothers (had a total holding of 43.6 per cent) and PE player General Atlantic (16 per cent) sold their stake to the Nasdaq-listed iGate and Apax Partner combination for $921 million, excluding an open offer.

 

The 14 per cent shareholding of Gajendra Patni and his family will give him a share of $129 million (Rs 580 crore) from the total sale value.

 

According to sources, Nirvana has hired Rajan Mehra, venture partner, Clearstone Capital, as the managing director. Mehra was the country manager at eBay India and a member of the eBay Asia Pacific Leadership Team.

Related opportunities
  • Furniture/Home Decor & Furnishing
    Pepperfry: A Pioneer in India's Online Furniture Market Pepperfry has revolutionized..
    Locations looking for expansion Maharashtra
    Establishment year 2011
    Franchising Launch Date 2024
    Investment size Rs. 20lakh - 30lakh
    Space required 1100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai Maharashtra
  • Quick Service Restaurants
      Formats Investment Brand Fee Space Staff Exp. Monthly Sales Profit Margi..
    Locations looking for expansion Maharashtra
    Establishment year 2013
    Franchising Launch Date 2018
    Investment size Rs. 50000 - 2lakh
    Space required 70
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Pune Maharashtra
  • Robotics & Technical Training/ AI
    Apponix Academy – Your Gateway to a Future in IT..
    Locations looking for expansion Karnataka
    Establishment year 2013
    Franchising Launch Date 2018
    Investment size Rs. 5lakh - 10lakh
    Space required 700
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Department & Convenience Stores
    Established in 1988, AMARTEX INDUSTRIES LIMITED is a testament to..
    Locations looking for expansion Haryana
    Establishment year 1988
    Franchising Launch Date 2024
    Investment size Rs. 30lakh - 50lakh
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Ambala Haryana
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts

pincode
;
ads ads ads ads