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Jayanta Mallick

Kolkata , Nov. 21

Worbus, a US-based M&A consultant and venture capitalist group, will invest in three listed companies for the first time in India. "The investments would be around 10 per cent in each stock. The three investments could be formalised within a couple of months," Mr George Molakal, International Director of Texas-based Worbus International LLC, told Business Line here. Of the three listed outfits where it is participating in equity, one is an auto ancillary, the second is into fibre optics and the third is a manufacturer of electronic switchboards, he disclosed.

Among the Asian and emerging markets, Worbus is currently focusing on India in terms of venture capital activity, followed by China, Brazil, South Africa, Taiwan, Thailand and the Philippines.

"In 2007 calendar year we have targeted to pump in $500 million in direct equity participation in Indian companies," he said. It has so far invested $150 million in equities of unlisted SMEs in 2006, against $70 million in the last calendar year.

In terms of return on equities, Mr Molakal said Worbus clocked an average of around 18 per cent in the country. "But next year we are raising our return benchmark for India to 25 per cent," he added.

Majority of the investments made are through three-way joint ventures with the US and Indian companies. This year, Worbus invested in 15 auto ancillaries, 6 telecom component manufacturers and 5 white goods related entities. The percentage of equity capital picked by Worbus ranges 3-24 per cent in the auto ancillaries, 6-18 per cent in telecom outfits and 6-10 per cent in case of white goods entities.

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