ADAG To Buy 26% In ICEX From Indiabulls - Reliance-Anil Dhirubhai Ambani Group (ADAG) is close to acquiring a 26% stake from Indiabulls Financial Services in Indian Commodity Exchange (Icex), the youngest commex in the country. Indiabulls holds 40% stake in the exchange, which started operations less than a year ago. (Business Standard)
India Infoline Shares Rise On Stake Sale Buzz - The shares of financial services firm India Infoline rose more than 7% on Tuesday on market buzz that the promoters were in talks to sell 12% stake to Barclays Capital at Rs 120-125 per share. The stock, which opened at Rs 100 on the Bombay Stock Exchange (BSE), touched a high of Rs 108 during the day’s trade. (BS)
Coffee Day May Buy Gopinath's Andaman Resort - Coffee Day Holdings is concluding a move to acquire a luxury resort in the Andaman Islands, partly owned by G R Gopinath. The resort, Barefoot, in which Gopinath owns close to 35% while a group of London-based Indian investors hold 38%. The enterprise value of the land holdings is expected to be close to Rs 80 crore. (BS)
ONGC May Make Counter Offer For Cairn India - There may be a fresh twist to Vedanta Resources Plc’s plans to acquire a majority stake in Cairn India Ltd, if state-run Oil and Natural Gas Corp. Ltd (ONGC) follows through on the signal from the petroleum ministry to make a counter offer. Vedanta plans to enter the oil business by paying up to $9.6 billion for a majority stake in Cairn India. ONGC is a partner with Cairn India in the joint venture that runs the latter’s main oil asset in the country. (Mint)
IL&FS PE Eyes Exits Worth Rs 2,000Cr - IL&FS Investment Managers (IIML) is close to exiting at least six of its investments, mainly in the real estate sector by the end of the current fiscal. The private equity firm will generate around Rs 1,500-2,000 crore through the exits, which are mainly due to the maturing of the investments. The returns could average 25-30% from the real estate investments. (Economic Times)
Yatra Eyes $50-80 Mn IPO - After the success of MakeMyTrip IPO on Nasdaq, Yatra.com may also go for a public issue. The company is looking at the possibility of an IPO by early next year to expand the Yatra.com business and market. Yatra.com has a market share of about 30% and is backed by investors like Intel Capital, Norwest Venture Partners and Reliance Venture Asset Management. (BS)
Cox & Kings In $65M GDR Issue - Cox & Kings Ltd, one of India’s oldest tour operators, issued Global Depository Receipts (GDR) at Rs 569.20 per share yesterday, amounting to $65 million (Rs 300 crore). The GDRs will be listed on the stock exchange at Luxembourg. (BS)
Strides Plans Rs 450Cr QIP - Strides Arcolab, the Bangalore-based Rs 1,800 crore publicly held mid-size pharmaceutical company, is understood to be firming up plans to raise around Rs 450 crore through a QIP issue. The company is gearing up to raise these funds to part-fund its Rs 900 crore worth of acquisitions which it recently effected over the past 8 months. (BS)
Brigade To Sell Hospital Land - Brigade Group, a publicly-held real estate group based in Bangalore, is understood to be close to selling its 165-bed hospital property to a group of high networth individuals for around Rs 120 crore. The hospital land, which has been leased to Columbia Asia for 30-years, is understood to have a built-up area of around 220,000 square feet. (BS)
Ennore Port Plans Rs 400Cr Private Placement - Ennore Port Ltd (EPL), the country's first corporate port owned by the Centre, is planning to raise around Rs 400 crore through private placement of shares to part finance expansions. Ennore may also look at initial public offering (IPO). (BS)
Tata Cap May Hive Off Infra Financing Biz - Tata Capital, the financial services subsidiary of Tata Sons, will soon hive off its infrastructure business into a separate subsidiary. The size of the company’s infrastructure finance business currently stands at Rs 4,000 crore. (DNA)
Time Technoplast Eyes More Buys - Polymer-based product maker Time Technoplast, which has just acquired two companies in India and the other in Taiwan, hopes to ink two more deals this fiscal. Time Technoplast last week bought a 60% stake in Bangalore-based Power Build Batteries for about Rs11 crore. (DNA)
HInduja Global Eyes CRM Buys - Fresh from the acquisition of the UK-based Careline Services, Hinduja Global Solutions has shortlisted two companies in the customer relationship management (CRM) space and has set aside about $125 million for acquisition. (HinduBusinessLine)
Dubai's ANC Buys 10% in India Steel Works - India Steel Works, formerly Isibars, has sold 10% equity stake to Dubai-based ANC Holdings in an all-cash deal worth Rs 19 crore. ANC Holdings also plans to expand its shareholding in the Mumbai-based steel company within a year to improve its prospects. (ET)
