VCCircle

Jet May Sell 5% To PE Funds By March' 08: India's leading airline Jet Airways plans to sell at least 5 per cent to private equity funds by March 2008, reports Mint. Apparently funds like Temasek Holdings are in talks with the company. The promoters - Naresh Goyal's Tail Winds Ltd currently controls 80 per cent equity in the company - which has to be brought down to such a level that the public holds at least 25 per cent of the company by April 1, 2008, as per the SEBI rules. Meanwhile, Jet has finalised its plans for the $400 million rights issue by December 2007 or January 2008. SSKI Corporate Finance and HSBC Securities are managing the issue.

Shipra To Raise Private Equity: Ghaziabad (eastern suburb of Delhi) based real estate developer Shipra Group says it's in the process of raising $200 million in private equity. Shipra is a leading developer in Delhi's eastern suburb - Ghaziabad. Shipra Group Managing Director Mohit Singh told the media that he is in talks with overseas investors and in the next three months the company is likely to raise $125 million. The company, however, does not plan to go for an IPO in the immediate future. Shipra has the credit of converting eastern suburbs of Delhi a middle class housing borough. (Via PTI)

Luggage Retailer Witco Wants Rs 30 Crore: Witco (India) Pvt Ltd, a retailer of luggage, handbags and accessories, plans to raise private equity to fund its pan-India expansion plans. It's currently present in Chennai, Bangalore, Kochi and Kozhikode, but wants to set up outlets in the top 12 cities in the country. The company wants to raise Rs 30 crore. Meanwhile, it's also in talks with large retailers for strategic tie-ups and space. The organised market for premium travel products, of which luggage alone comprises less than 50 per cent, is estimated at about Rs 400 crore. (Via Sify)

UniverCell In Talks With Funds: Hyderabad-based mobile retailing company UniverCell Telecommunications is in talks with private equity players to raise funds. The company has launched 75 stores currently and plans to set 25 more this year. It's targeting 170 store by fiscla year end. According to its founder Sateesh Babu, the company is aiming a public offer in 2009-2010.
Recently another mobile retail chain MobileNXT had raised second round of funding from the TV18 Group. (Via Sify)