Bharti Airtel, Aircel Eye Qualcomm Biz – Bharti Airtel and Aircel Cellular are interested in buying the yet-to-be-launched Indian wireless broadband business of US-based cellphone chip maker Qualcomm. Bharti Airtel is primarily interested in Qualcomm’s airwaves and permits for Delhi, complementing the 3G frequencies it won in the circle earlier this year. Aircel, a unit of Malaysia’s Maxis Communications and the country’s seventh-biggest operator, has shown interest in the Mumbai and Kerala circles. Qualcomm had sought a minimum of Rs 5,000 crore for its airwaves and permits in Mumbai, Delhi, Haryana and Kerala. (Economic Times)
Kalanithi Ups Stake In SpiceJet To 31% – Sun TV founder Kalanithi Maran and his unlisted aviation firm, Kal Airways Pvt Ltd , have raised stake in low-cost carrier SpiceJet by acquiring an additional 19.37 million shares, or 4.78%. The shares were acquired on Oct 26 through an off-market transaction and Maran’s direct holding in SpiceJet now stands at 30.98%.
Indian Investors Line Up For Australian Cricket League – Cricket Australia, which is planning an IPL-type eight-team tournament to start in January 2012, is seeing major interest from Indian investors. The NSW and Victoria associations have already sold shares to giant Indian corporations for about $60 million. CA board members will meet to decide whether to accept private equity from Indian investors as part of the ownership structure for each franchise which will potentially be worth $80 million each. (Courier Mail)
Koutons Creditors File Wind-Up Petition – Debt-laden clothes seller Koutons Retail India Ltd is facing at least four lawsuits, of which two are winding-up petitions filed in the Delhi high court by its suppliers to recover dues. Berry Cotts Pvt. Ltd, a New Delhi-based vendor of fabrics, filed a winding-up petition against the troubled retailer. Another winding-up petition was earlier filed by RC Velvet, a supplier of corduroy fabric based in Gurgaon near New Delhi.
Bankers, PE Differ On BT’s Tech Mahindra Exit – Private equity (PE) players and investment bankers are divided over the timing of the BT Group’s reported move to exit Tech Mahindra. BT owns about 30% in TechM. While a section feels that BT should wait till the merger of TechM and Mahindra Satyam, as it will get a better valuation due to the entity’s size, others say selling the stake before the merger will be more beneficial. (Business Standard)
MK Land, Embassy In $1.3B JV – MK Land Holdings Bhd, a Malaysian developer, signed an agreement with companies including Embassy Group to develop a $1.3 billion property project in North Bangalore, India. The joint venture is aimed at developing affordable homes to help meet the acute shortage of housing for the masses in India. (Bloomberg)
Indian Hotels To Raise Rs 850Cr From Tata Sons – Indian Hotels Company (IHCL), one of Asia’s biggest hotel chain owners, plans to raise Rs 850 crore by issuing shares and warrants to the promoter company, Tata Sons. The city-based Tata Group-promoted company intends to use the proceeds arising out of the preferential allotment to retire its debt and strengthen its balance sheet. (BS)
Servalakshmi Paper In Rs 60Cr IPO – Servalakshmi Paper Ltd, part of Coimbatore-based Servall group of companies, plans to raise around Rs 60 crore through an initial public offer (IPO) to fund its expansion. Servalakshmi Paper had set up an integrated paper mill at Tirunelveli district in Tamil Nadu, with an investment of around Rs 280 crore. The mill went on commercial production in April 2010. (BS)
Kochi IPL Gets 30 Day Breather – In a temporary reprieve to the Kochi franchisefor the Indian Premier League (IPL), the Board of Control for Cricket in India (BCCI) today gave a 30-day window to the owners to sort out differences and work out a shareholding structure. But the franchise would be cancelled if it failed to submit satisfactory replies. (BS)
Chennai’s KGS Acquires 60% In Cochin Kagaz – The Chennai-based KGS Group, which has a diversified business presence, has acquired a 60% stake in Cochin Kagaz, a manufacturer of packaging and white paper. KGS has acquired the stake through KGS Nelsun Paper Mill Ltd, a group company which operates a paper mill in Tiruchi. The overall production capacity available with KGS following this acquisition is 300 tonnes a day, about one lakh tonne a year, of white paper and packaging paper. (HinduBusinessLine)
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