ARSS Infra Files DRHP – ARSS Infrastructure Projects Ltd, an Orissa based company, is hitting the capital markets a public offer to raise about Rs 120 crore by this month end. The firm, which is implementing road and rail projects worth Rs 3,000 crore across 14 states of the country, has filed its DRHP with SEBI. State Bank of India (SBI) had earlier picked up 7.79% stake in ARSS in a private equity deal. (Business Standard)
Cranes To Raise Rs 100 cr – Cranes Software International, the Rs 600-crore publicly held firm, is set to raise Rs 100 crore through a fund based in West Asia. The fund raising comes as part of its effort to clear its debt of around Rs 800 crore. Cranes is involved in Bangalore-based software products firm in the engineering and analytics space. (BS)
UTI AMC To Go For Lower T Rowe Offer – US-based investment management firm T Rowe Price is set to pick up a 26% stake in UTI Asset Management Company at Rs 200 per share, which is 20% lower than the price informally offered by Life Insurance Corporation of India and State Bank of India. Both the institutions own 25% each in UTI AMC, and will sell 6.5% stake each with Punjab National Bank and Bank of Baroda. (Economic Times)
Cafe Coffee Day To Raise Rs 400 Cr – Coffee Day Holdings, which runs India’s largest chain of coffee bars Café Coffee Day, is planning to raise a fresh round of funding of Rs 400 crore. The funds will be used partly to replace the $150 million debt it raised from Deutsche Bank and Darby Investments. Coffee Day Holdings also plans to expand into a full service meal outlet chain under the brand Hungry Food. (BS)
Red Fort, Sumitomo To Bid For Merrill’s Realty Fund – New Delhi-based Red Fort Capital Advisors, along with Sumitomo Mitsui Banking, part of Japan-based Sumitomo Mitsui Financial, are jointly bidding to buy management rights of Bank of America Corp Merrill Lynch’s $2.65 billion Asian Real Estate Opportunity Fund. The private equity company has already raised the money for the bid and expects the deal announcement by the end of the year. (DNA)
Elder Pharma To Raise Rs 150 Cr For Drug R&D – Mumbai-based Elder Pharmaceuticals is in talks with several private equity (PE) firms to raise Rs 125-150 crore for drug research, a manufacturing unit in Uttarakhand and retiring part of Rs 410-crore debt. The company will dilute about 14% stake through issue of new shares. The company will also tap internal sources for additional fund requirements. (ET)
WNS In Talks With PEs To Sell 50% in BPO – Warburg Pincus has approached its global private equity peers for selling its 50.12% stake in BPO firm WNS Global Services. India’s leading BPO firm WNS may fetch a valuation of around $800 million providing Warburg with an exit payout of $400 million. Warburg Pincus is supposedly in talks with Bain capital and the Blackstone Group for PE funds, while industry speculation is that IT services majors like Cognizant and some other mid-tier firms are interested in pursuing the deal. (ET)
Punj Lloyd Raises $140 Mn Via QIP – Engineering and construction services provider Punj Lloyd has raised $140 million via the qualified institutional placement (QIP) route. The firm will use the fund for working capital and debt repayment. The company has diluted 10% stake in the company through the QIP in which both domestic and international investors participated. (Moneycontrol)
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