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News Roundup: Brigade To Raise Rs 900 Cr From PE

12 September, 2009

Oberoi Construction IPO – Oberoi Construction is planning to raise about $300-500 million from an initial public offering (IPO). The company plans to make the offering in last quarter of this fiscal year and funds will be used into buying more properties. The company manages a portfolio 26 projects spanning across residential, commercial and retail properties in Mumbai. (Business Standard)

Veer Energy To Set Up Wind Farms – Mumbai-based Veer Energy and Infrastructure Ltd. is planning to set up Wind Turbine Generator (WTG) farms of 200 MW capacity in Gujarat. The firm is spending around Rs 1,000-1,200 crore on the project. (BS)

Brigade To Raise Rs 900 Cr From PE – Brigade Enterprises is looking to raise close to Rs 900 crore through the private equity route to expand its hospitality vertical as well as to develop a 120 acre township in Bangalore. The Bangalore-based real estate developer has mandated J P Morgan to raise the funds, which will be infused at the SPV level. (BS)

Siva To Sell Part STel Stake To Batelco – C Sivasankaran has decided sell a 6.3% stake in the Chennai-based S Tel to Bahrain Telecommunications. The deal size is valued at Rs 125 crore, considering that Batelco Millennium India (BMIC), a Batelco-controlled company incorporated in Mauritius, had earlier acquired a 42.7% stake in S Tel for Rs 875 crore, valuing the company over Rs 2,000 crore then. (Economic Times)

GSPC Likely To File For IPO In Oct – Gujarat State Petroleum Corporation Ltd (GSPC) is likely to file its Draft Red Herring Prospectus with the Securities Exchange Board of India next month. The company plans to raise around Rs 5,000 crore from the proposed IPO. GSPC requires the amount mainly for the development of its Krishna-Godavari basin assets and global business activities. The company further proposes to sell 5% stake to a private equity firm (PE) by October this year. (Hindu Business Line)

 


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News Roundup: Brigade To Raise Rs 900 Cr From PE

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