Allied Blenders & Distillers Pvt. Ltd. is looking to raise around $46 million (INR 250 crore) in the coming fiscal. The company has been approached by some private equity players for the proposed investment. The fund would be used for brand building of these new products and in modification of the existing ones. A part of it is expected to scale up distribution network. (Business Standard)

Warburg Pincus signals formal exit from WNS: Private equity player Warburg Pincus has yet again started its exit process from business process outsourcing firm WNS. Since the start of the year, the private equity player has no board representation in the company. According to a 6-K filing to the US Securities and Exchange Commission made by WNS, Jeremy Young, who was a board nominee of Warburg Pincus since 2004, has ceased to be an employee of Warburg Pincus with effect from December 31, 2012. Currently, Warburg holds 8.8% stake in the company. (Business Standard)

IRFC may raise another Rs 1,500 cr by this fiscal yr end: Indian Railway Finance Corp. Ltd., the funding arm of the Railway Ministry, is looking to raise $275.96 million (INR 1,500 crore) more towards end of this fiscal to meet the budgetary borrowing target of $2.75 billion (INR 15,000 crore). Of the approved INR 10,000 crore fund raising through the bond issue, the corporation has already raised INR 1,113.60 crore through private placement of bonds. The funds raised through the issue will be utilised to finance the acquisition of rolling stocks like coaches, locomotives, engines etc. (Business Standard)

Rolta closing in on two deals: Rolta, the information technology firm focusing on defence and homeland security, is likely to strike two deals one an acquisition and the other a partnership. The company is likely to bag a contract from a UK utility major to manage its IT infrastructure, and also close a deal for an exclusive partnership with the largest geospatial technology company in the world. The company would allocate about $25-$30 million in each year’s budget for acquisitions. (DNA)

CX Partners Set to Buy Stake in Barbeque Nation for INR 100Cr: Indian private equity fund CX Partners is in advanced talks to purchase a minority stake in restaurant chain Barbeque Nation Hospitality,a subsidiary of listed Sayaji Hotels,for $18.39 million (INR 100 crore). The company is in final stage of closing the deal with CX Partners, though the firm is not through with the final documentation. The company would open 36 outlets before the financial year ends and are targeting another 24 outlets with the money get from CX Partners. (The Times Of India) 

Agarwal Bid Said to Be Delayed by Lawmaker Vote: Billionaire Anil Agarwal’s plan to buy India’s stakes in units of his Vedanta Group may falter as the government insists on parliament’s approval for the deal, according to three people familiar with the decision. (Bloomberg) 

Essar Ports to invest Rs 10,000Cr in Gujarat: Essar Ports today posted two-fold jump in October-December quarter net profit to Rs 90.42 crore and announced an investment of Rs 10,000 crore to expand capacity by up to 150 million tonne per annum at two of its ports in Gujarat."We have signed an agreement at the recently concluded Vibrant Gujarat summit with the government to expand capacities at the Hazira and Salaya ports," Managing Director Rajiv Agarwal told reporters here, after announcing the December quarter results. (Business Standard)

Courtesy: VCCEdge


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