News Roundup: Adani Family To Buy Group’s Realty Biz

28 March, 2016

Citi Set To Exit HDFC – Citigroup Inc. is divesting its entire 9.85% stake in Housing Development Finance Corp. Ltd (HDFC), India’s largest and oldest mortgage lender, to raise as much as $2.07 billion as the US-based bank reinforces its capital base in preparation for new international standards that will come into force in January next year. (Mint)

Stemade Eyes $10M PE Funding – Stem cell bank Stemade, which is into storing stem cells extracted from the tooth, is looking at foraying into the overseas markets like Singapore, West Asia and Australia in the coming two years. The company also wants to raise around $8 million to $10 million from Private equity funds to drive the desired growth. (Financial Chronicle)

Adani Family To Buy Group’s Realty Biz – The Adani family, promoters of the Adani Group, will take over the real estate business of Adani Enterprises. Valued at $1 billion, the investment will allow the firm to focus on its core businesses of resources, logistics and energy. The company’s land bank in Ahmadabad, National Capital Region (NCR) and Mumbai is valued at over $1 billion. (Times of India)

Raymond Buys Trinity For Rs 54Cr – Premium textile major Raymond’s auto components arm, Ring Plus Aqua, on Thursday acquired Pune-based Trinity India for a consideration of Rs 54 crore. The deal marks Ring Plus Aqua’s entry into the forging industry, adding to its current portfolio of auto components which includes flywheel ring gears, flexplate assemblies, integral shaft bearings and sheet metal pulleys. (Economic Times)

UCO, Vijaya Bank Sell Shares To LIC – Two state-owned lenders UCO Bank and Vijaya Bank today said they propose to raise capital of about Rs 412 crore by issuing fresh equities to LIC. The board has approved the proposal for issue of 3.13 crore shares to Life Insurance Corporation of India (LIC) on preferential basis, UCO Bank said in a filing to the BSE. (Economic Times)

Shasun Pharma To Raise PE Funding – Shasun Pharmaceuticals Ltd has informed the Bombay Stock Exchange that its board of directors would meet on February 27, 2012, to consider issue of equity shares on a preferential basis to private equity investor, subject to the approval of shareholders. According to earlier reports, the company management has been looking to raise funds from private equity firms for its operational expenses. (Business Standard)

Burger King Set To Enter India – Burger King, the global food chain serving hamburgers, may come to India riding piggyback on one of the largest European restaurant operators. AmRest Holdings, which has several restaurants across Central and Eastern Europe, could likely become the partner for the Florida-based Burger King, world’s second largest burger-chain after McDonalds, Burger King’s prime competitor.


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News Roundup: Adani Family To Buy Group’s Realty Biz

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