Shriram May Take Over Vishal's Retail Arm - The Chennai-based Shriram Group is likely to take over the front-end retail company of Vishal Retail after private equity investor Texas Pacific Group takes charge of its wholesale division. This will be subject to approval from all stakeholders and regulators. Vishal Retail operates a chain of retail stores in India. (Business Standard)
GMR Security Arm Eyes Overseas Buyouts - Raxa Security Services, a company formed by the GMR Group to provide consultancy services and integrated security solutions for business and industrial establishments, is planning for overseas buyouts to cater to the security needs at its airports and power projects abroad. Raxa is currently providing technical and manpower services to all the GMR Group companies in the country. (BS)
Adani Close To Acquiring Deccan Chargers - Gujarat-based Adani group is close to acquiring IPL 2009 winner Deccan Chargers for $280-300 million, almost three times the price at which Deccan Chargers Sporting Ventures (DCSV) acquired the team in January 2008. DCSV is 80% owned by Deccan Chronicle, which publishes Deccan Chronicle and Financial Chronicle, with the balance 20% held by leading media agency GroupM. (Financial Express)
BCCI Blocks Kings XI Punjab Sale - Board of Control for Cricket in India (BCCI) has rejected a proposal by Kings XI Punjab to transfer 93% to a private equity firm, saying the takeover must wait until investigations against suspended IPL chairman Lalit Modi have been concluded. The move is a setback to the plans of Mohali team owners Mohit Burman, Gaurav Burman and Ness Wadia, who together own 93%, to exit the company for nearly $250 million. (Economic Times)
IL&FS PE To Invest Rs 110Cr In Mumbai Project - IIML has recently made commitments for an equity investment of Rs 110 crore in Palais Royale, a 75-storey luxury residential tower being built by Vikas Kasliwal-owned Sree Ram Urban Infrastructure. The project may entail investments of around Rs 1,800 crore, which is scheduled to be completed in the next two years. The PE firm also plans to invest around Rs 1,400 crore in real estate and urban infrastructure projects by the end of 2010. (ET)
AFL Close To Raising Rs 100Cr From PEs - AFL Logistics is planning to raise approximately $21.3 million (INR 1 billion) from a US based private equity firm by selling a minority stake. The firm plans to use the funds to build warehouses and distribution infrastructure.
Crompton Eyes More Acquisitions - Crompton Greaves Ltd will continue to look at acquisitions even as its earlier overseas buys weigh on the company’s sales. Mumbai-based Crompton Greaves has acquired 7 companies over the past 5 years to plug technological gaps, beef up product portfolio, and expand presence in Europe and US. Six of these acquisitions were overseas. (DNA)
Era Infra Eyes QIP, PE - Era Infra Engineering Ltd is evaluating qualified institutional placement (QIP) and private equity options to raise about Rs 750 crore for implementing the national highway projects. The company already has approvals to mobilise up to Rs 1,000 crore through QIP and plans to raise private equity at the SPV level. (HinduBusinessLine)
DQ Entertainment Eyes Buys - DQE, the animation and gaming content development company, is scouting for an acquisition of a company with good quality library and publishing in the US and the European Union. The firm may seal these acquisitions in the next financial year and also go for fresh funding. (HBL)
