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News Roundup: Baring May Invest Rs 350Cr In Century Real Estate

24 January, 2011

Baring May Invest Rs 350Cr In Century Real Estate – Baring Private Equity Partners India (BPEP), along with some of its international investors, is likely to invest about $75 million, or approximately Rs 350 crore, in the Bangalore-based Century Real Estate. Baring’s may commit around $53 million, while overseas investors may bring in the additional investment. The Baring-led investors may pick up around 26% stake in the holding company. (Times of India)

Temasek MD Joins Tata Capital – Padmanabh Sinha, MD-Investment, Temasek Holdings Advisors India Pvt Ltd, the Indian arm of the Singapore government-owned investment major Temasek Holdings, has left the company. Sinha, as he is known in the circle, is set to join Tata Capital as senior partner-Private Equity. Sinha joined Temasek in mid-2004 as part of the founding India team. Prior to Temasek, he was vice-president, investments, at ICICI Venture. An an entrepreneur in the past, he was president & CFO, and founding team member, of eGurucool.com, an e-learning company funded by Star Group and ChrysCapital. (Business Standard)

Jupiter Bio In Talks To Buy Swiss Pharma Co – Hyderabad-based Jupiter Biosciences is in talks to buy privately held Swiss pharma company SynphaBase AG for about $10 million as it looks to boost research capabilities and front-end sale of its products internationally. If successful, this will be Jupiter’s second acquisition in Switzerland after it bought Merck Biosciences’ manufacturing facilities in 2008 to service customers in the heavily regulated markets abroad, especially Europe. Basel-based SynphaBase, backed by Novartis Venture Fund, the investment arm of Swiss drugmaker Novartis AG, has annual revenues of $7 million and employs 25 people. (Economic Times)

Vodafone Ok With IPO Of Essar’s Stake – British telecoms major Vodafone is not against Essar conducting an IPO for their 33% stake in Vodafone-Essar JV, but alleged that the Indian firm did not provide material information to the Sebi and the BSE about the proposed merger of two companies. Essar, however, dismissed these allegations and said the company has already clarified its stand. Essar has proposed to merge its Essar Telecommunications Holding Private Limited (ETHPL), which has 11% interest in Vodafone-Essar joint venture, with another listed company Indian Securities Limited (ISL) of the group. (Times of India)

Churchill Mining To Sell Assets – UK’s Churchill Mining, whose shares are traded on the Alternative Investment Market (AIM), is negotiating with several Indian power companies with the intention of finding itself a buyer. The company owns thermal coal mines in Indonesia and Australia. Apart from large private companies here, Churchill is negotiating with a couple of state-owned enterprises.  The Churchill scrip, which has nearly doubled in the past sixteen months, closed at £105.50 on Friday at AIM. It now has a market capitalisation of around £114 million. (Economic Times)

Dhanlaxmi Bank To Raise Rs 1,000Cr – Private sector Dhanlaxmi Bank plans to raise up to Rs 1,000-crore of capital to meet its business growth over the next 12-15-months and has already obtained its Board approval for the same. The first tranche will most likely be raised in May. The final decision will be taken after considering prevailing market conditions. The bank is in the process of identifying investment bankers and is expected to finalise their names by this month-end. (Economic Times)

Karur Vysya Bank To Raise Rs 450Cr – Karur Vysya Bank (KVB) has got Foreign Investment Promotion Board (FIPB’s) approval to issue shares, worth Rs 107.50 crore to foreign investors. This will be 25% of bank’s proposed rights issue worth Rs 450 crore. Before March 2011, the bank is planning to raise around Rs 300-325 crore and remaining, of the Rs  450 crore, will be raised by May 2011. (Business Standard)


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News Roundup: Baring May Invest Rs 350Cr In Century Real Estate

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