Minimal invasive surgery provider Beams Hospitals is in talks with a number of private equity investors to raise up to $20 million (INR 110 core) in equity financing, as it looks to expand its presence across the country. The deal if it fructifies will provide a second round of capital for the Mumbai-based company. In 2011, private equity firm Ambit Pragma had invested an undisclosed amount in the hospital chain. The company is currently in talks with a number of healthcare-focused private equity funds and is expected to close the transaction within 45 days. (The Economic Times)
IOC mulls 10% stake in Aranmula Airport: Close on the heels of Kerala state government picking up 10% stake in the upcoming greenfield airport in Aranmula, PSU oil giant Indian Oil is negotiating a 10% stake in the project. The state government of Kerala has picked up 10% stake in the project and has also nominated one member to the board of the company. The airport developer is seeking INR 100 crore ($18.3 million) for a 10% stake and the transaction is pending valuation. The petroleum company will also set up a fuel farm in the airport. (The Times Of India)
Utthista VC to fund 40 tech ideas: Utthista, a venture capital fund that puts in early stage investments in start-ups, is looking at investing 40 ventures in the second year of its operations. The Hyderabad-based fund claims it is not a typical VC that grills the first generation entrepreneurs with difficult questions. The fund provides seed funding, office space, legal and accounting advice. In the first year, it has invested Rs 10 lakh each in four firms in healthcare, travel and learning firms. The VC firm picks 10-15 per cent equity in lieu of the investments it makes. (Business Line)
Samvardhana Motherson plans to raise Rs 825 crore to fund expansions: Samvardhana Motherson International (SMIL), the holding company of auto components maker Motherson Sumi, has begun talks with private equity funds to raise $150 million (INR 825 crore) to repay debt and to fund expansions. The deal is expected to be completed in a quarter. The company is sticking to the same valuation that it had worked out for its planned public offer last year to raise INR 1,665 crore. In May 2012, the company withdrew its public offer on poor investor demand after fixing a price band of INR 113-118 a share. (The Economic Times)
Power Grid to raise up to INR 20 billion via bonds: Power Grid Corporation of India plans to raise up to INR 2,000 crore ($366.3 million) through a bond sale. The proceeds of which will be used for capital expenditure. The state-run firm would issue 10-year bonds and has fixed the upper band for bidding at 8.95%. The base size of the issue is INR 500 crore ($91.58 million).
EXIM plans to raise INR 1 billion via bonds: Exim Bank plans to raise INR 100 crore ($ 18.3 million) through 12-year bonds at 8.87%. Trust Capital is the sole arranger to the deal.