BSE Ups Stake in CDSL To 54.5% – The Bombay Stock Exchange (BSE) has acquired the controlling stake in Central Depository Services Ltd (CDSL) by purchasing 16% more from three banks. Asia’s oldest stock exchange has bought a 7.5% stake from HDFC Bank, 4.5% from Bank of Baroda (BoB) and 4% stake from Bank of India (BoI), taking its holding in the depository to 54.5%. The deal was struck at Rs 50-55 per share, valuing CDSL at Rs 522-575 crore. (Business Standard)
Macquarie SBI, First Pacific Bid For Road Projects – Financial investors like Macquarie SBI Infrastructure Fund and US-based First Pacific Fund have joined the 13 consortia which have submitted a pre-qualification bid for the six-lane expansion of the Rs 5,134-crore Kishangarh-Udaipur highway. NHAI floated a tender inviting bids for this project last week. Infrastructure majors like Larsen and Toubro, GMR and Jaypee Infrastructure and foreign companies like IJM Malaysia have bid for this project. (BS)
Dubai’s AMCL To Launch MENASA Funds – Al Masah Capital Limited (AMCL), a new alternative asset management company which started operations in Dubai in January, is in the process of launching two new funds. AMCL’s first fund is a $200 million (Dh734 million) Special Opportunities Fund, a multi-strategy fund that will invest in Mena’s undervalued equity markets, in addition to IPOs in Hong Kong and India. AMCL is also launching a private equity fund focused on growth capital in the Menasa region. (Gulf News)
Subhash Projects To Raise Rs 300Cr For SPV – Subhash Projects & Marketing (SPML) aims to raise Rs 300 crore to finance its Bhiwandi water project by selling equity of the special purpose vehicle that has been created for implementation of the plan. The Kolkata-based infrastructure development company is in talks with private equity and strategic investors and US-based Water Asset Management LLC and Veolia Water have evinced initial interest to pick up equity. (Economic Times)
Novelis May Bid For Rio Tinto Unit – Novelis, the international subsidiary of Hindalco Industries, could bid for the rolled products division of global metals major Rio Tinto Alcan as the Aditya Birla Group seeks to buy high value manufacturing products in Europe and the US. The rolled products division of Rio Tinto Alcan is valued at about $3 billion, according to international brokerages. (ET)
Aditya Birla, Hinduja in Race For Power Co – Aditya Birla Group, Hinduja Group and Jaypee Group are in the fray to buy a stake in Central India Power Co. Ltd (CIPCL), controlled by brothers Pramod and Vinod Mittal, which is building a 1,082MW coal-based power plant in Bhadrawati in Maharashtra. The three groups have received the offering memorandum
GTL, PE Firm To Buy Reliance Infratel Stake – The Reliance Anil Dhirubhai Ambani Group (R-Adag) plans to reduce its holding in its telecom tower business to 20-25% from 95%, with stake sales to GTL Infrastructure Ltd and a private equity investor. The stake sale will take place in transactions that will combine cash and stock and will happen in three stages. (Mint)
Anand Jain’s Fund Disburses Rs 3,200 Cr – The Urban Infra Opportunity Fund (UIOF) floated by Anand Jain, with close to 10% backing from the Mukesh Ambani Group, has disbursed Rs 2,200 crore from its domestic fund and Rs 1,000 crore from its international fund. The fund has several townships and mixed-use developments in cities that include Mumbai, Chennai, Hyderabad, Bangalore, Nagpur, Nashik, Pune and Visakhapatnam. The fund holds a significant stake in every project, but less than 50% with an investment sweet spot of Rs 75-100 crore per investment. (DNA)
Future Retail To Raise Rs 600 Cr For Expansion – Future Value Retail Ltd is planning to invest around Rs 600 crore to expand Big Bazaar, group’s flagship hypermarket retail chain. The company had said it is looking at Qualified Institutional Placements (QIP), issuing of warrants, private equity and even going public to fund the proposed expansion. Future Value, part of Kishore Biyani promoted Future Group, plans to expand its current 132 Big Bazaar shops in the next 18 months by another 60. (BS)
HSBC In Talks For RBS India Arm – Royal Bank of Scotland is in talks to sell its Indian commercial and retail unit to HSBC and the deal could be agreed on as early as next month. RBS, part-nationalised at the height of the financial crisis, was ordered by the European Union to sell a string of assets to compensate for state aid. (BS)
Schrader In Talks To Buyout India JV – The foreign JV partner in Schrader Duncan, a leading manufacturer of tyre tube valves and accessories, is in talks to buy out the minority stake held by its Indian promoter, Delhi-based industrialist J P Goenka. Schrader Bridgeport International Inc, USA, the majority partner in the JV, is in talks with J P Goenka to buy his 24% stake in the company. (BS)
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