| Log in

News Roundup: Cremica Foods Eyes IPO Next Year

05 July, 2011

Cremica Eyes IPO Next Year – The Cremica Group, a widely diversified food products company, is planning to launch an initial public offer (IPO) in 2012. The time is ripe to launch an IPO as the company’s turnover is expected to cross Rs 700 crore this fiscal. Motilal Oswal Private Equity-backed Cremica Group, which makes wide-range of products like biscuits, ketchups, toppings, breads and buns, and ice creams, wants to hit the capital market to raise funds through an IPO for expansion of its business activities.

Aditya Birla, R-Power & CESC In Fray For Australian Mine – Three top Indian companies, including Reliance Power, Aditya Birla Group’s Essel Mining and the RPG Group, have been shortlisted for final round discussions to buy a strategic stake in Australian coal mining firm, MetroCoal. The Australian company plans to raise $600-700 million from the sale. The Queensland-based MetroCoal has put two of its thermal coal bearing blocks with proven reserves of 1.2 billion tonnes, up for sale. (Economic Times)

Viom, GTL Explore Merger Option – Telecom tower company Viom Networks is eyeing GTL Infrastructure as feelers have been sent for a merger involving a share swap. Viom is 53% controlled by the Tatas. Kolkata-based Kanorias, founders of Srei, hold about 27% while foreign institutional investors own 20%. The promoters own 58.3% in GTL Infrastructure. A share swap is seen a way to avoid heavy cash payouts at this juncture. (Business Standard)

CGH Earth Puts Unit On Block – CGH Earth (formerly Casino Group of Hotels) the five-decade old Kochi-based hospitality major, is understood to be exploring the option to exit its air catering business — Casino Air Caterers & Flight Services (CAFS). CGH Earth is looking at price of around Rs 100 crore to exit the business which has presence in Kochi, Kozhikode and Chennai, and around 14 Indian and international carriers.

Steel Strip Wheels Eyes More Stake Sales – Indian automotive wheel rim maker plans to raise $16 million by December by selling stakes in phases to global wheel rim makers. The firm will sell a 2%-3% stake in the first phase to raise the $16 million by the end of this year. A South Korean company picked up a 2.5% stake in Steel Strips in December 2010 for Rs 595 per share. (Economic Times)

Catholic Syrian Bank To Raise Rs 350Cr – Catholic Syrian Bank plans to raise about Rs 350 crore in the current financial year. The lender would issue Rs 150-crore tier II bonds and raise the remaining Rs 200 crore by selling shares to private investors and institutional bidders. The fund-raising programmes would also help some of the private lenders reduce promoters’ stake in the bank. (Business Standard)

Damco Eyes India Acquisition – Damco, the $2.7-billion logistics unit of the AP Moller-Maersk Group, is scouting for acquisitions in India to expand its freight forwarding business, at a time when the containerised cargo segment is growing at 12-15% annually on the back of improved economic activity. India contributes 5% to Damco’s total ocean and supply chain management volumes, and around 10% to its total global air freight volumes. (Financial Express)

asscom Fund To Invest In Six Companies – The Rs 50-crore Nasscom promoted early-stage investor India Innovation Fund (IIF) plans to invest at least half of its corpus by the year-end on six deals in the technology and life sciences space. The firm, which currently has made one investment of Rs 2.5 crore in Mitra Biotech, is all set to close funding of two technology start-ups in the next two to three weeks.These include a Bangalore-based early stage company in the media technology space and a Mumbai-based technology company operating in the automotive space. (Financial Express)

Heramec To Sell Stake In GSPC Blocks – Heramec Ltd plans to sell half its stake in the six onshore hydrocarbon blocks it co-owns in India with Gujarat State Petroleum Corp. Ltd (GSPC) to Calgary-based Stealth Ventures Ltd. The move will help increase production from these blocks as Stealth possesses technological expertise for shale gas exploration. Heramec is an operator with 30% stake in four blocks, and holds a 30% stake in the remaining two blocks where Hindustan Oil Exploration Co. Ltd is the operator. The deal is valued at sub-$100 million (Rs. 445 crore). (Mint)


Leave Your Comment
News Roundup: Battery Maker Luminous Plans IPO

News Roundup: Battery Maker Luminous Plans IPO

TEAM VCC 7 years ago
Battery Maker Luminous Plans IPO – Leading battery maker Luminous is...
News Roundup: Schneider, Eaton In Fray For L&T's Electricals Biz

News Roundup: Schneider, Eaton In Fray For L&T’s Electricals Biz

TEAM VCC 6 years ago
Schneider, Eaton In Fray L&T’s Electricals Biz – As part of a...
News Roundup: Cognizant In Talks To Acquire Genpact

News Roundup: Cognizant In Talks To Acquire Genpact

TEAM VCC 7 years ago
Cognizant In Talks To Acquire Genpact – Cognizant Technology Solutions is...
No Comments

News Roundup: Cremica Foods Eyes IPO Next Year

Powered by WordPress.com VIP