Asian Genco Raises Another $60M – Singapore-based Asian Genco Pte Ltd (AGPL), which is developing Indian power generation assets of 4,000MW, has raised another $60 million from PTC Ashmore India Energy Infrastructure Fund. This comes after Asian Genco raised commitments of over $425 million from a consortium of investors led by Morgan Stanley Infrastructure Partners (MSIP), including Norwest Venture Partners, General Atlantic LLC, Goldman Sachs Investment Management, Everstone Capital and others.
PR Srinivasan Plans $400M Fund – PR Srinivasan, the managing director of Citigroup Venture Capital International’s (CVCI) India operations, is planning to raise between $350 million and $400 million fund, which will focus on the domestic market. The fund, which would be sector-agnostic with an investment sweet-spot of $30-35 million, would be launched towards end of 2010. The first close of $150-200 million can be expected by mid-2011. (DNA)
Nimbus Communications Plans Rs 750Cr IPO – Media and entertainment company Nimbus Communications plans to raise up to Rs 750 crore through a public issue, in which its financial investors, including 3i, will sell a part of their shares. Nimbus plans to file its draft red herring prospectus by the end of July or August. For the year ended March 2010, the Mumbai-based company had revenues of over Rs 1,200 crore. (Economic Times)
Parsvnath To Raise Rs 200Cr From PE – Parsvnath Developers is looking to raise at least Rs 200 crore from private equity investors by December in order to cut debt by 34% in the next two years. Parsvnath is in talks with at least three private equity investors, including Red Fort Capital and SUN-Apollo. The investors are likely to take a stake in a residential project and Delhi Metro Rail Corp (DMRC) projects. (DNA)
Tata-Quippo To Raise Rs 1,500Cr – Wireless Tata Tele Info Services, also known as Tata-Quippo, plans to raise up to Rs 1,500 crore by issuing fresh shares. While Tata Tele holds a 55% stake in Tata-Quippo, a consortium led by Srei Infrastructure Finance holds the rest. Tata-Quippo is in talks with both overseas and domestic investors to raise funds, including the fund set up by Australia-based Macquarie and State Bank of India. (DNA)
Edserv QIP On July 9 – The committee of directors of EdServ Softsystems Ltd has decided to open the Qualified Institutional Placement (QIP) issue on July 9. The minimum floor price for the QIP issue has been fixed at Rs 205 per share, with the educational services company is planning to raise around Rs 80-100 crore. (Business Standard)
Bombay Dyeing To Sell Polyster Biz – Wadias of Bombay Dyeing are looking at restructuring their group businesses and are exploring sale of its polyester staple fibre (PSF) business. The deal would include the sale of the entire unit in Patalganga. (Times of India)