Aditya Birla Nuvo To Divest Stake – Diversified business group Aditya Birla arm Aditya Birla Nuvo plans to sell stake to private equity players in its proposed holding firm for financial services. Nuvo is reportedly in talks with global private equity players including Blackstone, Carlyle and KKR for the deal. Nuvo, in a joint venture with Canada's Sun Life, holds 74% in its life insurance and 50% in its asset management company under Birla Sun Life. The company needs equity infusion to sustain the growth momentum for the insurance, asset management and other financial services businesses. (Business Standard)
Knight Frank's India Focused Fund On Hold –Knight Frank Group, a UK based private equity fund, has put on hold its plans to launch a $250 million (Rs 1,225 crore) India-focused real estate fund due to drastic slowdown in property markets across the world. Last year, the group held discussions with potential investors and started putting in place a management team to run the fund. Knight Frank India has been operating in the country for the last12 years and has offices in Mumbai, Gurgaon, Pune and Bangalore, among others. (BS)
Grama Vidyal Micro Finance To Raise Rs 100 Cr – Tiruchy based Non-Banking Finance Company (NBFC) Grama Vidiyal Micro Finance Ltd (GVMFL) is planning to raise around Rs 100 crore via non-convertible debentures (NCD) over the next three months time. The money will be utilised to support company’s expansion plan to add 61 branches. It currently has 154 branches across Tamil Nadu and is planning to foray into Karantaka and Kerala during the current fiscal. (BS)
Great Eastern Energy To Go For An IPO - Great Eastern Energy, which has raised GBP19 million from London's Alternative Investment Market (AIM) in 2005 to fund its development activities at its site in Raniganj in West Bengal, plans to go for an IPO to raise Rs350-400 crore to meet its capital expenditure needs. The current production capacity of the company is 0.1 mmscmd (million cubic metres per day) from 30 wells. It plans to ramp up the capacity to 3 mmscmd from 300 wells by around 2017. (DNA)
Suzlon To Divest Stake In Hansen - Wind turbine maker Suzlon Energy is planning to divest either fully or partially its stake in its Belgian subsidiary, Hansen Transmission International. As part of the plan, the company has appointed an independent director’s committee, which is negotiating with potential buyers. It plans to raise Rs 5,000 crore by issue of shares, foreign currency convertible bonds, GDR or by any other equity-linked instruments. (BS)
Consim Info Postpones IPO - Online services firm Consim Info Pvt Ltd that runs the Bharatmatrimony.com has postponed its plans to sell shares to the public through an initial public offering (IPO). It has also scaled back its expansion plans by 75% for brick-and-mortar matrimony centres across the country. Earlier the company has considered its share sale in 2009, but given the gloomy economic environment it has now been pushed to either 2010 or early 2011. (Mint)
