Blackstone-backed Nuziveedu Plans Rs 900Cr IPO - India's largest seed company Nuziveedu Seeds (NSL Seeds) has begun the process of entering the capital markets to raise around Rs 900 crore. The Hyderabad-based seed producer has appointed five investment banks which include Goldman Sachs, JP Morgan, JM Financial and ENAM Securities. The proposed initial public issue due to be launched early next fiscal will include a primary and secondary component. Private equity major Blackstone had invested around Rs 250 crore in the company in 2008 by way of convertible instruments. (Economic Times)
AmRest Eyes Acquisitions In India - American private equity major, Warburg Pincus-backed restaurant operator AmRest Holdings SE, one of the largest franchisees of KFC and Burger King globally, may explore acquisitions to tap into India's burgeoning food services market. Poland-based AmRest operates around 665 fast-food and casual dining chains across Central and Eastern Europe and in the United States. AmRest is open to acquiring local franchisees of a global restaurant chain or a domestic food services brand. The company which is the largest KFC franchisee in Europe. (Times of India)
Tata PE Takes 10% Stake In Ginger Hotels - Tata Capital's private equity fund has acquired a 10% stake in Roots Corporation, which runs budget hotel chain Ginger. The stake-purchase in Ginger was completed by the $550 million Tata Opportunities Fund and it marks the one-year-old fund's debut investment. Tata Opportunities Fund, spearheaded by Mukund Rajan, is a third party private equity fund in which several global institutions are investors. The deal had valued the loss- making Ginger Hotels at around Rs 1,000 crore. (Times of India)
TCG Real Estate Plans $300M Second Fund - TCG Real Estate is firming plans to raise a second fund of at least $300 million (Rs1,560 crore) as it enters the final leg of investments from its first fund. It is planning both a domestic and an overseas fund. The firm recently invested Rs200 crore in two residential projects in Mumbai from its $300 million India Property Fund, which began deploying capital in 2007. The fund is jointly managed by TCG and Vornado Realty Trust?, a US-based owner and manager of commercial real estate. (Mint)
BPL Fails To Salvage Pledged Land Bank - BPL Ltd, a former consumer electronics major and now a publicly held Bangalore-based healthcare equipment maker, has lost an attempt to salvage part of its 350-acre land bank pledged with Deutsche Bank in India. BPL, founded by T P G Nambiar, failed in talks to raise money from New Silk Route (NSR), the $1.2-billion private equity major. The company pledged its land bank to various financial institutions, which was later consolidated with Deutsche Bank. (Business Standard)
GTL Lenders Want Personal Guarantee - Lenders to the GTL group have sought a personal guarantee from the company’s promoter, Manoj Tirodkar, as part of the negotiations for corporate debt restructuring (CDR). Tirodkar is reluctant to agree on the extent of guarantee sought by the 25-member consortium of lenders, led by IDBI Bank and ICICI Bank. The package, expected to be finalised after on Tuesday’s meeting, has now been pushed to next month. (Business Standard)
NEI Plans First Overseas Acquisition - CK Birla Group firm, National Engineering Industries (NEI), said on Tuesday that it is planning its first overseas acquisition in its core business of bearings manufacturing. This will help it expand its international presence. It is looking at companies in Europe and the US, which have an annual turnover of Rs 100-500 crore. NEI, which sells bearings under the NBC brand to a majority of domestic automakers, expects to further penetrate the global markets. (Business Line)
