Aegon Religare Gets Rs 85Cr Infusion – The founders of Aegon Religare Life Insurance has put in Rs 85 crore of additional capital in the venture to fund expansion. India’s business giant Religare Enterprises owns 44% in the company, while Aegon owns 26% and the remaining 30% stake is with Bennett, Coleman & Co Ltd. The company plans to use the fund to strengthen its distribution network. The venture started operation in India in July 2008. (Reuters)
Kumar Urban To Raise $100 Mn From PEs – Pune-based realty firm Kumar Urban Development is planning to raise up to $800 million through private equity placements in various special purpose vehicles (SPVs) next fiscal. The company is close to signing a deal worth $100 million by April. Kumar Urban has upcoming projects in residential and commercial projects across Mumbai, Pune and Bangalore. (Business Standard)
GMR Energy To Get Rs 1,500 Cr PE Funding – Bangalore’s GMR Infrastructure is in advanced discussions with a couple of private equity funds to raise Rs 1,500 crore for its power subsidiary GMR Energy. The deal, being advised by Kotak Mahindra Capital and Rothschild, is expected to be closed in the next two weeks. The investment is expected to be a mix of structured equity and debt. GMR Energy contributes about 46% to the company’s total revenues. (Economic Times)
Gulf Oil To Disinvest in IDL – Gulf Oil Corp has said that it will disinvest its entire equity shares in its subsidiary IDL Speciality Chemicals Ltd. Last year in December, Biocon Ltd had acquired the bulk pharmaceutical business undertaking of IDL Speciality Chemicals Ltd.
Pantaloon To Spin Off Food Brands Under One Company – Pantaloon Retail plans to spin off at least five of its brands and merge them with Capital Foods, where its unit Future Ventures owns a stake. Pantaloon is looking to compete with global giants Nestle and Kraft with his home-grown recipes’ such as pav bhaji masala and lemon pickles. It has also roped in Sanjeev Kapoor of the the Khana Khazana brand as a venture partner. (ET)
Coffee Day Arm To Raise Funding – Tanglin Developments, part of the Coffee Day Holdings, is in talks with HDFC’s real estate private equity fund to raise Rs 300 crore. The company develops infrastructural facilities for technology enterprises and has developed two software parks at Bangalore and Mangalore. (BS)
Fame Says Reliance Did Not Make A Written Offer – Theatre chain Fame India’s managing director Shravan Shroff has said that Reliance Media did not made any written offer on a higher price. This comes after Reliance MediaWorks (which operates BIG Cinemas) said that Fame had rejected its offer to buy stake at Rs 80 per share, which was much higher than what INOX Leisure paid to Fame for the stake (Rs 44 per share).
ARSS IPO To Raise Rs 103 Cr – ARSS Infrastructure Projects Limited, a city-based infrastructure firm engaged in the construction of roads, bridges, highways, bridges and railway projects, expects to raise Rs 103 crore through its initial public offer (IPO). ARSS intends to use the proceeds of the issue for investments to float joint ventures and also to meet its working capital requirements. (BS)
Jalan To Head SEBI Panel – Markets regulator Securities and Exchange Board of India (Sebi) has formed a seven-member committee to review ownership and governance structure of market infrastructure institutions like stock exchanges and depositories. The committee, headed by former Reserve Bank of India Governor, Bimal Jalan, would study the functioning of these institutions with regards to supervision of the markets, while simultaneously pursuing commercial objectives. (Reuters)
Renault India To Restructure Mahindra JV – The Indian unit of French carmaker Renault plans to restructure its four-year-old joint venture with Indian utility vehicle maker Mahindra & Mahindra. The JV was formed to manufacture Renault’s Logan brand in India. The company said a decision will be taken in 30 to 45 days on the same. (Reuters)
Parle Software Acquires 45.83% Stake Realty Project – Parle Software Ltd, a Mumbai-based company, has acquired 45.83% stake in a real estate project called Hazoor Township Developers Pvt Ltd, which is a subsidiary of Hazoor Multi Projects Ltd. With this, Hazoor Township Developers Pvt Ltd has become Associate of Parle Software, the company said in a filing to the BSE. (Team VCC)
Hathway Gets Five Anchor Investors – Hathway Cable and Datacom’s initial public offering was subscribed by five anchor investors. Franklin India Funds, DSP Blackrock Funds, Reliance Capital Trustee, Copthall Mauritius Investment and Tree Line Asia Master Fund (Singapore) were allotted 49.95 lakh shares at Rs 240 a share. (HBL)