BSE Eyes 51% Stake In CAMS – Bombay Stock Exchange plans to buy a controlling stake in investor services company Computer Age Management Services, or CAMS, for Rs 650 crore. The exchange may buy 51% from current shareholders which include Housing Development Finance Corp, private fund Advent International and Acsys Software. (Economic Times)
Intas Plans Rs 800Cr IPO Next Year – Intas Pharmaceuticals plans to raise Rs 750-800 crore through a public issue that will help it raise fresh funds for acquisitions besides allowing private equity (PE) investor ChrysCapital to partly exit. The Ahmedabad-based company is looking to sell around 15% stake that will value it over Rs 5,000 crore. ChrysCapital will sell at least half of their stake, while the remaining would be through fresh issue of shares to fund the company inorganic expansions. The firm has appointed Morgan Stanley and Kotak Mahindra as bankers for the proposed issue. (ET)
Stanley Lifestyle To Raise $10M PE Funding – Bangalore-based Stanley Lifestyle, manufacturer and supplier of leather upholstery to car-makers such as GM and Ford, is looking at raising $10-million private equity. Stanley is in talks with PE firms for a minority stake to raise the funds by early next fiscal. Stanley has a current turnover of Rs 140-crore and plans to use the proceeds to set up a tanning and finishing unit, expand its furniture retail business and in backward integration. (ET)
ADB Plans Petronet Exit – Asian Development Bank has written to the promoter shareholders of Petronet LNG Ltd (PLL) expressing its intent to exit the company. But the four public sector promoters – ONGC, Indian Oil Corporation, Bharat Petroleum Corporation, and GAIL (India) – at any given point, cannot cumulatively hold more than 50% in PLL. (HinduBusinessLine)
Honda Exit Stuck Over Valuations – Honda Motor Corp’s exit from the world’s largest two-wheeler manufacturer Hero Honda is apparently stuck over differences in valuation of its 26% stake. Munjals, the Hero group promoters with 26.21% stake, have been in discussions with various private equity firms including KKR, Texas Pacific, Blackstone, Carlyle, Clayton Subilier & Rice and Temasek to pick up stakes in the company.
Ambit Pragma To Launch $150M Fund By Dec – Mumbai-based investment bank Ambit Holdings Pvt. Ltd will raise $150 million for its second private equity (PE) fund. Ambit Pragma, the PE arm, launched its first fund of $65 million in 2008. The firm will also start a joint mutual fund with Japan’s asset management company Nikko Asset Management Co. Ltd. Ambit will aslo raise Rs 150 crore for its non-banking finance company (NBFC) Ambit Finvest Pvt. Ltd.
Pearl Eyes Acquisitions, PE Funding – Pearl International Tours & Travel, a part of the Pearl Pet Group, is in talks to acquire companies with turnover of up to Rs 300 crore as part of its growth plan. The firm plans to double its turnover to cross Rs 1,000 crore mark in the next two-three years from the current Rs 540 crore, also said it could go for private equity funding to finance its growth plans. (Business Standard)
Tata Global Plans Acquisitions – The proposed foods foray of the Rs 5,783-crore Tata Global Beverages (TGB), formerly Tata Tea Ltd, will happen via acquisitions. Since the firm does not have any capabilities or assets in foods, the route with foods will have to be via acquisitions. (BS)
ADAG Buys 15% In Kerala Airport – Anil Dhirubhai Ambani Group (R-ADAG) has picked up a 15% stake for Rs 225 crore in a new international airport coming up at Aranmula in Pathanamthitta district of central Kerala. Promoted by KGS Aranmula Airport Ltd at an investment of Rs2,000 crore, it is the first private sector airport in Kerala. (BS)
Jindal Poly Films To Raise Rs 2,000Cr – Jindal Poly Films, the producer of flexible packaging films, today said it plans to raise up to Rs 2,000 crore by issuing securities in the domestic and international markets. (BS)