KKR To Raise $1.5Bn India-focused Fund – American fund house KKR is likely to start an India focused $1.5 billion fund to invest across listed and unlisted Indian companies. The fund would focus mainly on energy, power, infrastructure, auto components, brokerage houses and capital market infrastructure institution. KKR is said to have already raised 25% capital for its India fund and is likely to close the fund by July-end. (Moneycontrol)
Ennore Port To Raise Rs 400Cr Through Private Placement – Ennore Port Ltd, country’s first corporate port owned by the Union government, is planning to raise around Rs 400 crore through a private placement of shares to part-finance expansions. The port administration has said it may also look at initial public offering (IPO) to create infrastructure, which in turn would bring in Rs 6,500 crore. (Business Standard)
Avigo To Sell 40% Stake In Spykar – Delhi-based private equity firm Avigo Capital Partners has initiated talks with a host of buyout funds and strategic players to sell its 40% stake in denim maker Spykar Lifestyle . It is looking at a deal size of about Rs 80 crore which puts the valuation of the company at around Rs 200 crore. Avigo Capital Partners, formed in September 2003, invested close to Rs 25 crore in Spykar in 2007. (Economic Times)
HDFC Property Ventures To Sell Commercial Portfolio – Real estate fund HDFC Property Ventures Ltd has put up nearly half of its office space asset portfolio for sale at Rs 640 crore. The property fund, which manages a total 3.5 million sq. ft of office space assets, has short-listed six properties in business districts in Mumbai, Bangalore, Pune and Hyderabad to either be part-sold to individual buyers or wholly to another fund. The assets, pre-leased to various tenants, fetch the fund an annual rental income of Rs 58-60 crore.
ADAG To Invest Rs 1,600Cr In Reliance Infrastructure – A promoter unit of the Anil Ambani-controlled Reliance group is expected to invest around Rs 1,600 crore in the equity shares of its group company, Reliance Infrastructure. The promoter company, AAA Project Ventures’, stake in Reliance Infrastructure might go up to 48% from the current 43%. Reliance Infrastructure today informed the stock exchanges that a committee of directors of the company will meet tomorrow to consider allotment at a price of Rs 928.89 per share to AAA Project Ventures. (Business Standard)
Unitech Promoter To Invest Rs 380Cr – The promoters of real estate major Unitech are increasing their stake to 48.6% upon conversion of warrants into equity. Chandra and his sons had pumped Rs 380 crore into the company in December to convert the last tranche of warrants held by them into equity, which increased their combined stakeholding to 48.58%. (Business Standard)
JSW Steel-Bellary Close To A Deal – JSW Steel, one of the top three steelmakers in the country, is understood to have concluded negotiations with the lenders of debt-ridden Karnataka-based Bellary Steel & Alloys for part-acquisition of the company. The consortium of lenders is led by IFCI includes IDBI Bank, Exim Bank, Industrial Investment Bank of India, SBI and HDFC Bank. It has a total debt exposure of Rs485 crore to Bellary Steel. (DNA)