Essar To Raise Rs 4,500 Cr By Pledging Vodafone Stake - Essar group is raising up to Rs 4,500 crore by monetising its shareholding in Vodafone Essar, its joint venture with the British telecom giant. The company plans to raise the fund through the issue of non-convertible debentures (NCDs) by pledging its 11% stake in Vodafone Essar. With this, the group will pledge the whole of its 33% holding in Vodafone Essar. Earlier in 2007, it had pledged a 22% stake held by two of its Mauritian entities.  (Economic Times)

Fitness One Eyes Rs 25 Cr PE Funding – Fitness One, a Chennai-based wellness player, is looking for Rs 25 crore private equity funding for expansion. The company is ready to dilute 15-20% equity to the investors. With 75 fitness outlets operational, the company plans to add 30-40 outlets in the next 18 months, and adopt company owned and franchise model for the proposed expansion. In 2007, Mauritius-based India Equity Growth Fund bought a 4.5% stake in Fitness One, valuing it at Rs 100 crore. However, the company bought the stake back early this year. (ET

Rogers Investment Arm Plans $250M Asia Focused Fund - New York-based Wolver Hill Asset Management Ltd, the investment arm of Rogers Investment, plans to start a private equity fund with initial capital of $30 million. The fund to be called Wolver Hill Asia Emerging Manager Fund, which will start on November 1, would be the company’s first non-Japan fund and aims to have a corpus of $250 million.  The new fund will invest in asset management companies in the Asia-Pacific region, including Greater China, Japan, South Korea, Australia and India. ()  

Apax, Carlyle Eye 20% Quippo Stake - Private equity players such as Apax Partners and Carlyle have shown interest in buying stake in Quippo Telecom Infrastructure. Quippo plans to sell about 15-20% stake in the company to raise about Rs 1,400 crore. It will use the proceeds to retire its debt that it had taken to finance its equity transaction in Wireless-TT Info-Services (WTTIL).  (ET)

HDFC AMC Buys 10% In Nitesh Estates - HDFC Asset Management Company has picked up 10% in Bangalore-headquartered real estate firm Nitesh Estates for Rs 100 crore. The transaction comes at a time when Nitesh Estates is working towards an IPO in the last quarter of the current fiscal. The deal, clinched over the weekend, may have come at 15-20% discount. KPMG and J Sagar Associates were advisors to the transaction. (ET)

Parsvnath To Raise Rs 600 Cr - Delhi-based real estate company Parsvnath Developers is in talks with various private equity funds to raise around Rs 600 crore by the end of 2009-10. The company will sell stakes in its projects and utilize the funds to repay debt. It has recently raised Rs 168 crore by selling shares to investors such as Fidelity, Merril Lynch and Morgan Stanley through qualified institutional placement (QIP).  (Business Standard)

SBI Plans India Online Brokerage - Japan's SBI Holdings Inc plans to set up an online brokerage firm in India. SBI, which generates about half its revenues from asset management as well as from its brokerage and investment banking business, plans to shore up these core segments by accelerating investment in Asia's emerging countries. SBI CEO Yoshitaka Kitao said the company is keen to expand its presence in Islamic financial markets such as Indonesia, Malaysia and the Middle East. (Reuters)  

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