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 company”. (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 month”, 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)
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