Ansal To Raise Rs 70Cr Private Equity – Ansal properties and Infrastructure Ltd, a leading real estate developer in India, is close to signing a private equity deal to raise Rs 70 crore in one of its residential projects. However, the firm has informed that there is no such plan at present to raise funds through share sale. Earlier in 2009, it has announced to raise Rs 1,500 crore through sale of shares to institutions. (Reuters)
IndiGo To Raise Private Equity – IndiGo, a private airline carrier run by InterGlobe Aviation Pvt Ltd, is looking for private equity fund and has appointed four investment bankers to help in the fund raising. The company plans to raise the fund to expand operations to overseas destinations. UBS AG, Morgan Stanley, Credit Suisse Group and Citigroup Inc. were hired by the airline to raise money through either an initial public offering (IPO) or the private equity route. It plans to begin flights to South and South-East Asia, West Asia and China after it completes the mandatory five years of operations in August next year. (Mint)
JFE To Buy Stake In JSW Steel – Japanese steel major JFE is looking for small stake in JSW Steel as the debt-laden Indian steelmaker turns to its former rival for cash to implement ambitious expansion plans and take on other global and domestic rivals. The two companies are understood to be in close talks and working on the terms of an issue of shares by JSW to the Japanese major and to its Indian promoters—Sajjan Jindal and his family. JFE will invest about Rs 5,000 crore to buy a 14.06% stake in the company. (ET)
GMR Infrastructure To Raise $250M Via QIP – GMR Infrastructure, one of India’s leading construction firms engaged in the development of projects including Delhi’s Indira Gandhi International Airport, plans to raise $250 million (about Rs 1,100 crore) through qualified institutional placement (QIP) of shares. The shares will be offered to overseas institutional buyers. The floor price of the offering is Rs 62.13 per share. Bank of America Merrill Lynch is the sole global coordinator and lead book running manager for the issue. (ET)
Rolta To Raise $125M To Acquire More Firms – Rolta India, a Mumbai-based IT solution provider in geospatial information solution (GIS) space, is planning to raise $125 million to fund some of its future acquisitions. The company has already got board nod to raise the funds. Rolta is looking at acquisitions which will strengthen its IP and consultancy capability. Last week, it has acquired One GIS Inc, a consulting, development and systems integration firm in Atlanta, USA. (DNA)
Godrej Eyes Brazil’s Embelleze For Next Buy – FMCG major Godrej Consumer Products Ltd (GCPL) is eying for another buy in overseas market, after three consecutive buys in Africa and Indonesia in the recent past. The company is now targeting Embelleze, a company in hair colouring and transforming categories space in Brazil. Embelleze will be GCPL’s fifth acquisition in the international market in the last two years. (DNA)
Easier Exit Route For PEs/VCs In Pipeline – The Corporate Affairs Ministry is trying to work out an easier exit route for private equity funds investing in Indian companies, in consultation with other ministries and departments of the government. As part of the plan, Corporate Affairs Ministry and the Securities and Exchange Board of India (SEBI) are at an advanced stage for rolling out relaxed regulations for private equity and venture capital firms that will be unveiled in due course of time. ()
French Firm Vicat May Buy Out Bharathi Cement – SA des Ciments Vicat, a French cement major, is in advanced buyout discussions with Bharathi Cement of Hyderabad. The deal, to be priced around $200 per tonne, is likely to be sealed in the next few weeks. At Bharathi’s current capacity of 2.5 million tonnes, the deal could cost $500 million. Dalmia Cement, India Cement and N Prasad, vice-chairman and founder of Matrix Laboratories, also have stake in the company. (DNA)
New Film Fund Launched For VC Play – DM Capital Advisors, a financial advisory firm, is entering the market to support films with a cause. It will soon be launching a venture capital fund, Cause Entertainment, for this purpose. DM Capital plans to leverage equity funding for such films. The company is currently in the process of raising funds and is looking at investing Rs 200 crore in the venture. India already have quite a few funds investing in Bollywood movies, though the focus is not very cause centric like DM Capital. Some of the existing film funds in India include Vistaar Religare Film Fund (VRFF), Cinema Capital Venture Fund (CCVF), and Nomad Film Fund. (Moneylife.com)
Century Group To Raise Funding – Century Group, a Bangalore-based integrated, full-service real estate development company, plans to monetise its land holdings in Bangalore. The company is planning to launch several new projects this year and is looking for project-level funding for each of these projects. It currently has about 32 special-purpose vehicles and is in consolidation exercise. (Business Line)
Corpus Media Buys Denver Co – Corpus Media Labs, part of Hyderabad-based Corpus group of companies, has acquired PQ Engineering Inc (PQE) in Denver. The transaction happened in a part-cash and part-stock deal. The company is expecting additional revenue of Rs 20 crore from this buy this year. Corpus Media Labs is a software and services company focussing on media and entertainment. (Business Line)
MCX Promoters Divest Stake – MCX Stock Exchange (MCX-SX), India’s newest stock exchange, has divested its stake following market regulator the Security and Exchange Board of India’s (Sebi) instruction to do so to meet regulatory compliance. Post-dilution, IFCI will hold 13.23% stake while Union Bank will have 11.50%. The lead promoters, Financial Technologies and MCX, which together were holding 25%, have brought down their stake to 5% each. (Business Line)
Core Projects To Raise $75M Via Bonds – Core Projects and Technologies Ltd, a leading education company, is planning to raise up to $75 million in one or more tranches. The company plans to issue foreign currency convertible bonds (FCCBs) to raise the fund. The board of directors of the company has already approved the FCCBs of $60 million, it informed the National Stock Exchange. (Team VCC)
Goldman Sachs Director Rajat Gupta In Galleon Probe – Prosecutors are examining whether Goldman Sachs Group Inc director Rajat Gupta gave inside information about the bank to Galleon Group hedge fund founder Raj Rajaratnam, the Wall Street Journal reported on Thursday. However, a spokesperson for Gupta said they are unaware of any examination of any such issue. (Reuters)
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