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News Roundup: NewQuest Capital Partners to invest $140M in India

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Hong Kong-based PE firm to deploy nearly a third of its corpus fund in India, to capitalize on secondary opportunities.

NewQuest Capital Partners to invest $140M in India: Hong Kong-based private equity firm NewQuest Capital Partners expects to invest about $140 million—nearly a third of its $400 million corpus fund—in India, hoping to capitalize on the so-called secondary opportunities in the country. A secondary deal refers to when an investor buys stake in a company from an existing investor. It’s an alternative to traditional stake-sale routes for private-equity (PE) investors such as public issues of shares and mergers and acquisitions (M&A). (Mint)

Homeshop18 files for confidential IPO at Nasdaq: In a move that could change the game for Indian e-commerce, Homeshop18, the e-commerce & television shopping arm of India’s Network18 group has filed for a “confidential” Initial Public Offering (IPO) at the Nasdaq, according to a source with knowledge of the development. (nextbigwhat)

Srei Infra to raise $500M from infrastructure debt fund: Srei Infrastructure is planning to raise $500 million through its infrastructure debt fund which is likely to be launched as early as January next year."Srei plans to raise around $500 million for its Infrastructure Debt Fund through the MF route," Srei Infrastructure Finance CMD Hemant Kanoria said. (Bsuiness Standard)

Indian Overseas Bank plans perpetual bond issue for fund-raising: Chennai-based public sector lender Indian Overseas Bankis mulling to raise funds through a perpetual bond sale and will soon seek approval from its board for the same, a top bank official said."We are planning to raise some funds through perpetual bond issuance and had already got the approval from our Alco (asset-liability committee). (The Economic Times)

Dr Reddy's expects to launch open offer for OctoPlus in Dec: Drug firm Dr Reddy's Laboratories today said it expects to launch a public offer in December to acquire all outstanding shares of Netherlands-based OctoPlus. "It is currently expected that the offer will be launched mid December 2012. If launched, the offer period will run for at least eight weeks and no more than ten weeks," Dr Reddy's Laboratories Ltd (DRL) said in a filing to the BSE today. (moneycontrol)

Gammon India looking to liquidate real estate assets-CFO: Gammon India is looking to cut debt by around 22 percent to Rs 2,500 crore by next year. The construction major which has lined up civil works, roads, bridges and thermal power projects across states has been facing liquidity issues since past two financial quarters partly due to high cost of borrowing.To combat financial issues, the firm is looking at liquidating its real estate portfolio, Girish Bhat, chief financial officer at Gammon told CNBC-TV18 in an interview. (moneycontrol)

JKPDC to tap capital market with IPO: State-owned Jammu and Kashmir Power Development Corporation (JKPDC), which runs, operates and manages hydro-electic power projects in the state, has decided to come out with an initial public offering (IPO) to tap the capital market."We are going public with Initial Public Offering (IPO) to be a listed company (on the stock exchange)--we have initiated on that", Managing Director JKPDC, Basharat Dar said. (The Financial Express)

 

Courtesy: VCCEdge

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