Samara Capital, an India-focused private equity company and a local partner of Amazon, is planning to raise as much as $500 million for a new fund targeting companies in Asia’s third-biggest economy.
The Mumbai company is planning to invest in businesses ranging from retail and health care to technology and finance, and plans to close the fund in the second half of 2022, said Sumeet Narang, Samara’s founder and managing director.
“We have started the roadshows and many of our existing investors across the US, Europe, Middle East and Asia Pacific have already signed up,” Mr Narang said.
Samara is seeking to step up investments in a consumer market of a billion-plus people. Almost 120 companies, from online grocers to food delivery and beauty start-ups, raised about $18 billion in initial public offerings last year, a record for the country.
Founded in 2007, the company has invested more than $1bn since inception, according to its website. The new fund will consider investing from $50m to as much as $400m in mid-market companies for a controlling stake, Mr Narang said.
Samara and Amazon are partners in Witzig Advisory Services, an investment vehicle that acquired More Retail in 2019 from billionaire Kumar Mangalam Birla’s conglomerate Aditya Birla Group. More Retail is considering an IPO that could raise as much as $500m at a valuation of $5bn, Bloomberg News reported in December.
Deals involving private equity (PE) companies have been rising in India as highly indebted conglomerates look to sell businesses to help pay debt, while succession planning prompts some tycoons to dispose of assets and set up family offices. Easy loans are also helping PEs to finance buy-outs.
Carlyle Group's Asia chairman XD Yang said in November that the US-based PE’s investment amount and pace in India are getting “pretty close” to that in China.
Last year, Samara listed quick-service restaurant operator Sapphire Foods India – a local franchisee for Pizza Hut and KFC.
Essentials
The flights
Etihad and Emirates fly direct from the UAE to Delhi from about Dh950 return including taxes.
The hotels
Double rooms at Tijara Fort-Palace cost from 6,670 rupees (Dh377), including breakfast.
Doubles at Fort Bishangarh cost from 29,030 rupees (Dh1,641), including breakfast. Doubles at Narendra Bhawan cost from 15,360 rupees (Dh869). Doubles at Chanoud Garh cost from 19,840 rupees (Dh1,122), full board. Doubles at Fort Begu cost from 10,000 rupees (Dh565), including breakfast.
The tours
Amar Grover travelled with Wild Frontiers. A tailor-made, nine-day itinerary via New Delhi, with one night in Tijara and two nights in each of the remaining properties, including car/driver, costs from £1,445 (Dh6,968) per person.
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
TWISTERS
Director: Lee Isaac Chung
Starring: Glen Powell, Daisy Edgar-Jones, Anthony Ramos
Rating: 2.5/5
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
2019 Asian Cup final
Japan v Qatar
Friday, 6pm
Zayed Sports City Stadium, Abu Dhabi
Farasan Boat: 128km Away from Anchorage
Director: Mowaffaq Alobaid
Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani
Rating: 4/5
TO A LAND UNKNOWN
Director: Mahdi Fleifel
Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
Rating: 4.5/5
UAE currency: the story behind the money in your pockets
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UAE currency: the story behind the money in your pockets
The specs: 2018 Mercedes-AMG C63 S Cabriolet
Price, base: Dh429,090
Engine 4.0-litre twin-turbo V8
Transmission Seven-speed automatic
Power 510hp @ 5,500rpm
Torque 700Nm @ 1,750rpm
Fuel economy, combined 9.2L / 100km
Global state-owned investor ranking by size
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Norway
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Canada
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Name: Colm McLoughlin
Country: Galway, Ireland
Job: Executive vice chairman and chief executive of Dubai Duty Free
Favourite golf course: Dubai Creek Golf and Yacht Club
Favourite part of Dubai: Palm Jumeirah
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
UAE currency: the story behind the money in your pockets
