Blackstone To Buy Securitans For Rs 150Cr – Private equity firm Blackstone is acquiring the cash management arm of security services provider APS group – Securitrans India Pvt Ltd – for close to Rs 150 crore. The acquisition is subject to regulatory approval. Delhi-based Securitrans provides security cover for large commercial banks during transportation of cash and other valuables. Its customers include banks such as Citibank, Standard Chartered Bank, American Express, Deutsche, HDFC Bank, Canara Bank and ICICI Bank . (Economic Times)
IDBI, Others Ready To List CARE – Major shareholders of rating agency Credit Analysis and Research Ltd (CARE) have agreed in principle to list the shares of the company. IDBI Bank Ltd is the largest shareholder in the company with a 26.75% stake. An IPO in CARE is likely to fetch a valuation of at least Rs 2,000 crore. In August, private equity firm Milestone Religare Investment Advisors Pvt. Ltd had bought around 5% of CARE, valuing the firm at about Rs 1,450 crore. Other investors like Bajaj Holdings and Investment Ltd (around 5%), Aditya Birla Private Equity (around 4%) and the Poonawala Group’s Serum Institute of India Ltd have also taken stake in the company. (Mint)
Aegis Logistics Shares Up On PE Placement Buzz – Shares of Aegis Logistics rose more than 16% on market talk the company was in talks with a clutch of private equity investors and institutions to raise funds. Earlier in March, the company raised Rs 68.2 crore by placing shares to private equity fund Infrastructure India Holdings.
Race For Bandanna Enters Second Round – Race for Australian coal miner Bandanna Energy Ltd has entered the second phase with representatives from interested companies such as state-owned NTPC Ltd visiting Australia for a physical inspection and data collection. Bandanna, a firm listed on the Australian Securities Exchange, claims to represent the largest thermal coal inventory for any exploration company in Australia and has seen interest from other Indian companies such as GMR Infrastructure Ltd, Jindal Steel and Power Ltd (JSPL), Aditya Birla Group and JSW Steel Ltd.
Bessemer Invests In Jerry Rao’s Home First Finance – Bessemer Venture Partners, a century-old venture capital fund, has bought a stake in a housing finance start-up founded by Jaithirth ‘Jerry’ Rao and P.S. Jayakumar, former Citigroup employees, for an undisclosed sum. The company, Home First Finance Co. India Pvt. Ltd., offers small loans to low-income borrowers for buying homes priced between Rs 5 lakh and Rs 15 lakh. (Mint)
NDTV Hindu JV On The Block – NDTV is understood to have put one of its channels – NDTV Hindu – on sale. The channel is an equal joint venture between NDTV and Chennai-headquartered newspaper group The Hindu. NDTV Hindu, which kicked-off in mid-2009, was Chennai’s first city-specific English news and entertainment channel. The two-year old channel has been put on the block as the revenues were low and the viewership did not pick up. A couple of media houses, which are strong in the regional space, are evaluating options to acquire the channel. (Business Standard)
SBI To Complete Rights Issue By December – State Bank of India (SBI), India’s largest public sector lender, is likely to complete a proposed rights issue of Rs 20,000 crore by December. Out of the proposed issue size of Rs 20,000 crore, government’s share would be Rs 12,000 crore. Currently, the government’s holding in SBI stands at 59 per cent. SBI’s proposed rights issue is expected to augment the bank’s lending operations by boosting its capital adequacy ratio. (Business Standard)
BGR Energy May Absorb Power Generation Arm – BGR Energy Systems, the Chennai-based power engineering, procurement & construction (EPC) firm, is considering bringing its group company’s power projects under its fold. BGR Power, in which BGR Energy does not have a stake, is controlled by the promoter family and is developing two projects, both 2X660 mw, in Cuddalore, Tamil Nadu and Bhapur, Orissa. (DNA)