Multibaggers for future

Alternate Energy space is sizzling hot amidst falling markets world over. In one of the recent deals, Morgan Stanley has reportedly picked up close to 30% stake in a Mumbai based cleantech firm. The company, Biotor Industries received INR2.4bn (US$53m) from the private equity arm of Morgan Stanley. The investment is in the form of equity and compulsorily convertible preference shares amounting to 30.4% of the post issue paid up capital of the firm. Biotor makes castor oil based products and has fully owned subsidiaries in US and Germany for marketing and distribution. It also has a contract manufacturing subsidiary and plans to set up a manufacturing unit in Gujarat. Total valuation of the firm after the deal is pegged at INR7.9bn (US$175m), ahead of Hyderabad based Roshini Biotech which was valued at INR6.8bn based on a second round investment from Goldman Sachs. While Roshini has long term plans of going public in 2011, AE biofuel’s Indian subsidiary Universal biofuels is in talk...

Goldman Sachs is reportedly picking up a minority stake in Hyderabad based bio-diesel company Roshini Biotech . It is learnt that Goldman Sachs is picking up a 25% stake in the company for INR1.7bn . The price being paid pegs the valuation of the plantation company at INR6.8bn. The company says that the investment will be used to expand its overseas operations. It is planning to expand its overseas operations and enter countries such as Uganda, Sri Lanka and Indonesia amongst others. Roshini Biotech has already won 25,000 acres of land from the Ugandan government to cultivate pongamia seeds. Roshini Biotech is a bio-fuel company engaged in the bio-energy value chain. It has the world’s largest plantation of non-edible feedstock with more than 40 million trees and seedlings. Pongamia Pinnata, in which the company deals, is a non-edible and drought resistant tree with high yields of crude oil that recaptures rapidly -growing greenhouse gas emissions and generates income to poor farmer...