News Roundup: Aban may sell power biz to Nuziveedu Power for $100M

28 April, 2016

Aban May Sell Power Biz To Nuziveedu Power For $100M – Debt-laden Aban Offshore, India’s largest offshore drilling company, is discussing sale of its thermal power projects to Nuziveedu Power. Nuziveedu Power is interested in Aban’s two coal-fired projects in Tamil Nadu and Orissa with a combined potential of 2,200MW. Aban may fetch more than Rs 550 crore, or upwards of $100 million, from the sale with value the projects at Rs 25-30 lakh per MW. (Times of India)

Next Education To Raise Rs 150Cr Funding – Hyderabad-headquartered Next Education Private Limited, a technology-driven education enterprise, is planning to raise Rs 150-crore private equity (PE) fund this year. It is discussions with some PE firms but nothing has been finalised yet. The company, which was started in 2007, has so far invested Rs 300 crore in research, content development and in rolling out its pan-India operations. It had raised the initial funding from Anurag Dikshit, co-founder of PartyGaming. (Business Standard)

Hershey Mulls End To Godrej JV, May Go Solo – Signaling an end to a five-year-old partnership with the Godrej Group, US chocolate maker The Hershey Company is planning a solo ride in India with a 100% subsidiary Hershey Confectionery India. Last month it registered the new company with the Registrar of Companies and appointed its international controller Richard McConville and vice-president-finance Milton Brice as directors in the Indian arm. (Economic Times)

Lanco To Sell Hydropower Biz, In Talks With SN Power – In an indication of growing stress in the Indian power sector, Lanco Infratech Ltd has decided to exit hydropower generation and is in talks with SN Power of Norway for selling its stake in the business.  SN Power has shown interest in the Lanco’s assets and has been keen on acquiring hydroelectric projects in India and Nepal. Lanco’s decision comes at a time when the company is laden with a debt of Rs.28,036 crore as on 31 March.

India Infoline To Close Realty Fund – India Infoline Venture Capital Fund, the VC arm of the country’s leading financial services provider, is adding another Rs 200 crore to its Rs 500-crore real estate fund. India Infoline had raised Rs 500 crore under its IIFL Real Estate Fund (Domestic) Series-1 early this year. It is set to complete its fundraising by adding another Rs 200 crore by this month. (Business Standard)

Yash Technologies Plans IPO By 2014 – Yash Technologies, an IT consulting and services firm based out of Illinois (US), is planning to go for an IPO (initial public offering) in the next two years in India. The move may happen once the company reaches total headcount of 5,000 employees globally, and record a revenue of $250-million by 2014. Currently, the company has a total headcount of 2,100 globally, including 1,500 in India, and its turnover for the year 2011-12 was recoded at $133 million. (Business Standard)

Shriram Transport To Raise Rs 2,000Cr Through NCD Issue – Shriram Transport Finance Company (STFC) has planned to raise around Rs 2,000 crore via secured/unsecured non-convertible debentures (NCDs). There would be one or more tranches of public issues and/or private placements during the current financial year. The fund-raising plan comes at a time when the company is set for an overall growth this year of 12-15 per cent. (Business Standard)


Leave Your Comment
DEG, Proparco & others invest $60M in NSL Renewable Power

DEG, Proparco & others invest $60M in NSL Renewable Power

TEAM VCC 4 years ago
NSL Renewable Power Pvt Ltd, part of the Hyderabad-based NSL Group, has raised $60 million from a consortium that includes both private equity and strategic...
News Roundup: Idea Cellular in talks with Axiata to sell telecom towers

News Roundup: Idea Cellular in talks with Axiata to sell telecom towers

TEAM VCC 4 years ago
Aditya Birla group-owned Idea Cellular is in discussions with its second-largest shareholder, Axiata of Malaysia, for selling its towers to the Malaysian company, but the...
News Roundup: PE firms vie to infuse $100M in Shriram's cement business

News Roundup: PE firms vie to infuse $100M in Shriram’s cement business

TEAM VCC 1 year ago
The Chennai-based Shriram Group, a financial services conglomerate is in advanced talks with global private equity (PE) majors Citigroup Venture Capital and Blackstone to raise INR...
No Comments

News Roundup: Aban may sell power biz to Nuziveedu Power for $100M

Powered by WordPress.com VIP