News Roundup: Catamaran Eyes SKS Microfinance Exit

28 December, 2011

Catamaran Eyes SKS Microfinance Exit – There seems to be no end to SKS Microfinance ‘s worries. NR Narayana Murthy’s venture capital arm Catamaran is looking to exit SKS Microfinance. This has been under Catarmaran’s radar for quite sometime but now in the last two weeks Catarmaran board has officially decided to exit the microfinance lender. It is learnt that Catarmaran is likely to appoint two bankers to chart the exit route by January. Cataramaran holds 1.3% in SKS while the lock-in period will expire in January 2012. (Moneycontrol)

Malaysian Parent To Decouple Aircel – The Malaysian parent of Aircel is planning to simplify the Indian arm’s holding structure to prepare the ground for a possible sale and to prevent Aircel’s high debt from affecting its other businesses. Binariang GSM, the holding company of the group promoted by T Ananda Krishnan, the owner of Maxis, has told Malaysian rating agency RAM that it is trying to ‘decouple’ Aircel from the group. Aircel, which has close to 60 million customers across India, is owned by several entities of the Binariang GSM group. (Economic Times)

Purvankara To Sell Three Projects – Puravankara Projects will sell three commercial properties in Bangalore and Chennai for Rs 250 crore to partly pay off its mounting debt. It is in talks with information technology firms to sell 15 lakh sq ft built-to-suit plots. Puravankara’s outstanding debt from banks and financial institutions is Rs 1,160 crore. Its net debt for the second quarter of fiscal year 2011 was at Rs 933 crore. The company’s net sales for the quarter ended September 2011 stood at Rs 198 crore compared to Rs 154 crore in the fiscal year 2011. (Economic Times)

Oman Investment Fund Seeks Govt Nod For UCX Stake – Oman Investment Fund (OIF), the Sultanate of Oman’s sovereign wealth fund, has filed a fresh application with the government to buy a stake in Universal Commodity Exchange (UCX), promoted by software solutions company, IT People. A single foreign entity can invest up to 5% in a commex. Funderburk Mauritius 2’s investment proposal was slated for discussion last Friday by Foreign Investment Promotion Board (FIPB), which approves foreign direct investments into the country. (Economic Times)

GSPC May Dilute Overseas Assets – The cash-strapped Gujarat State Petroleum Corporation (GSPC) is toying with proposals to dilute part of its operating stakes in overseas assets, preferably in Egypt, to part-finance nearly Rs 4,000 crore worth of capital expenditure outlay in India and abroad in 2012. The Gujarat Government-controlled company holds operating interest in four exploratory blocks in Egypt, one in Indonesia and three in Yemen. (Business Line)

Goodwill Hospital To Raise Rs 62Cr – Goodwill Hospital and Research Centre Ltd, engaged in running a multi-speciality hospital at Noida has fixed price band of Rs 175 to Rs 185 for its proposed public offer. The company is entering the capital market with its initial public offer (IPO) of equity share of face value Rs 10 each at a premium aggregating to Rs 62 crore along with one detachable warrant per equity share offered. (Business Standard)

 


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News Roundup: Catamaran Eyes SKS Microfinance Exit

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