Cafe Coffee Day, India’s biggest coffee chain, has started interviewing investment banks for a possible initial public offering in Mumbai next year, sources said. The company, backed by KKR & Co, could seek a valuation of about $1 billion, according to sources. It plans to file a draft prospectus with India’s market regulator later this year. KKR, the private-equity firm run by billionaires Henry Kravis and George Roberts, invested in Cafe Coffee Day’s holding company in 2010 together with Standard Chartered Plc’s private equity unit and New York-based New Silk Route Partners, according to a KKR press release. The owners haven’t made a final decision on whether to list just the coffee chain or its parent company Amalgamated Bean Coffee Trading Co, which also owns coffee plantations and luxury resorts in India. (Business Standard)
Leelaventure plans to raise Rs 1,000 crore: Hotel Leelaventure Ltd, which runs the Leela Palaces Hotels and Resorts, plans to raise as much as Rs 1,000 crore ($ 170 million) by selling shares or other securities to pare debt. The company’s board has approved an enabling resolution to raise the funds by selling shares, convertible debentures, global depository receipts, American depository receipts and or such other securities either through preferential issue or qualified institutional placement or private placement in one or more tranches at an appropriate time. In a related development, the board approved sale of shares on a preferential basis to a promoter group company for an aggregate value not exceeding Rs 35 crore, including premium. (Live Mint)
Restaurant chain Olive Bar plans to raise Rs 200-Crore from private equity investors: Restaurant chain Olive Bar & Kitchen, in which Aditya Birla Private Equity fund is an investor, is looking to raise Rs 180- 200 crore ($31 million – $34 million) from other private equity investors to fuel its expansion plans, three people with direct knowledge of the development said. The restaurant chain initiated talks before the national poll results were announced and is currently in discussions with 4-5 PE funds. In 2012, Aditya Birla Private Equity invested around $10 million for a minority stake in Olive Bar & Kitchen Pvt Ltd, which owns the Olive, Monkey Bar, LAP, Ai and Soul Fry brands. (The Economic Times)
FIMBank plans to infuse $100 mn in India Factoring: Malta-based trade finance entity FIMBank plans to infuse about $100 million ($587 crore) in India Factoring and Finance Solutions Ltd (IFFSL) through the next five years. In April, the bank had acquired an additional 30% stake in IFFSL from Punjab National Bank for Rs 107 crore ($18 million). Margrith Lütschg Emmenegger, president of FIMBank and director on the board of IFFSL, said now, the bank held about 75% stake in IFFSL. In the next two years, it would invest $20 million to meet regulatory norms, she added. (Business Standard)
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