Cabinet to discuss 10% stake sale In HAL tomorrow: The union cabinet is expected to discuss a proposal to divest 10% stake in Bangalore- headquartered Hindustan Aeronautics Limited. According to a senior official at present government of India holds 100% share in the paid up equity of HAL, which could be brought down to 90 if the union cabinet agrees to the proposal. (Business Standard)
Enzen Global Solutions to raise $50M: Enzen Global Solutions, the Bangalore-based consulting and services company working specifically in the energy and utilities market, plans to raise $50 million through the private equity (PE) route. The company, expecting a top line of Rs 500 crore by the end of FY13, a 100 per cent growth compared with last year, is in dscussions with a clutch of PE funds for the same, sources said. (Business Standard)
Madison to raise funds from investors abroad for residential projects: Madison India Real Estate Fund Ltd plans to raise about $100 million from overseas investors to invest in residential projects in large cities, an official said. This would be the second real estate fund of the Paracor Capital Advisors advised-Madison India, after it raised its first $50 million fund in 2007. (Mint)
Trivitron to use Fidelity Funds infusion for acquisitions in Europe & US: Private Limited is planning to use the money partially for acquisitions in Europe and in US. Meanwhile, today the company announced a strategic partnership with Italy-based DiaSorin Group. G S K Velu, founder and MD of Trivitron Group of Companies said that “we are looking at companies with a turnover of around Rs 100 crore in Europe and US, the acquisition is mainly for technology. This will be the first big acquisition by the companyâ€. (Business Standard)
M&M Financial selling shares to raise $160M- Sources: Mahindra & Mahindra Financial Services, which provides financial services in the rural and semi-urban areas, launched a share sale on Wednesday to raise about USD 160 million, two sources with direct knowledge of the situation said. (moneycontrol)
Kesoram rights issue soon: Kesoram Industries Ltd on Wednesday said it would soon file the draft red herring prospectus for its proposed rights issue. A top company official told Business Line that the draft was in final stage. “It may be filed this monthâ€, said sources. Kesoram Industries board at its meeting on August 22, had approved a proposal for the issue of equity shares on 'rights basis for an amount not exceeding Rs 500 crore. (Buisness Line)
Polygenta Technologies plans to raise funds through preferential issue: Polygenta Technologies Ltd. is planning to raise approximately $7.35 million (INR 400 million) through issue of shares on preferential or rights basis. Polygenta Technologies manufactures and sells polyester filament yarn made with recycled polyethylene terephthalate content as a feedstock in India. (BSE)
Courtesy: VCCEdge
