Daiwa MF in sell-off talks with SBI, Sundaram: Japan’s Daiwa Securities Group-owned asset management company Daiwa Asset Management (India) Pvt. Ltd plans to sell its Rs 789 crore mutual fund (MF) assets. (Mint)
Times Group may go for an IPO ‘in the long run: Bennett, Coleman and Company (BCCL), the media conglomerate that owns The Times of India and several other properties across the print and electronic media, may go public to grow its television and internet business, one of the group’s promoters told The New Yorker. (Business Standard)
Rating agency CARE gets Sebi nod for IPO: Domestic rating agency Credit Analysis & Research Ltd (CARE) has got the go-ahead from the market regulator Sebi for its proposed initial pubic offer. CARE had filed its draft red herring prospectus (DRHP) with Sebi (Securities and Exchange Board of India) about a year ago for the proposed public offer, which would comprise sale of about 72 lakh shares by its shareholders. (Business Standard)
Tata Power keen to buy coal assets in US, Colombia & Africa: Tata Power Ltd is targeting to acquire coal assets and get into long-term import deals in the US, Columbia and Africa to meet its increasing fuel demand. The private producer would require nearly 50 million tonnes of coal by 2020 to fire its thermal units from about 10 million tonnes now. (Business Line)
Fulcrum Venture plans to float PE fund with Rs 120Cr corpus: Fulcrum Venture India, an angel investment fund, plans to float a third-party private equity (PE) fund with a corpus of Rs 120 crore, which will provide growth capital to companies, a top company official said. (Business Line)
Hinduja Group in lead to buy Houghton International for $1.15B- Sources: Family-owned Indian conglomerate Hinduja Group is the front-runner to acquire Houghton International, a US producer of metalworking fluids and other chemicals, following a $1.15 billion bid, according to two people familiar with the matter.
CX partners may invest Rs 150Cr in Transaction Solutions: Private equity firm CX Partners is negotiating an investment of around Rs 150 crore in Transaction Solutions International, an ATM outsourcing and payments company. The fund, led by former Citigroup veteran Ajay Relan, is close to buying a controlling stake in the privately-held company, said a person with direct knowledge of the negotiations. (The Economic Times)
Exim Bank to raise Rs 1.1B via bonds- Source: Exim Bank is raising Rs 1.1 billion ($21.06 million) via 10-year bonds at 8.87 per cent, a source close to the deal told Reuters on Thursday. IDFC Ltd is the sole arranger to the deal, the source said.
Power Finance Corp seeks to sell Rs 1.5B bonds- Document: Power Finance Corp is planning to launch an unsecured bond sale to raise at leas Rs 1.5 billion ($28.72 million), a term sheet seen by Reuters showed.The state-run firm will sell 2-year bonds at 8.85 per cent and 5-year bonds at 8.91 per cent, it showed. (The Economic Times)
BPCL to raise Rs 5B via bonds- Source: Bharat Petroleum Corp is planning to raise Rs 5 billion ($95.74 million) via bonds at 8.65 per cent, a source directly involved in the deal said. The country’s second largest state-run refiner will issue five-year bonds with a put/call option at the end of the third year, the source said.
Tata Motors plans to sell Rs 2B in bonds- Source: Indian automaker Tata Motors LtdBSE 2.19 % is planning to raise Rs 2 billion ($38.30 million) through 6.5 year bonds at 9.70 per cent, a source with knowledge of the deal said on Thursday.
Kishore Biyani’s Future Group in talks with L&T to sell stake in insurance JV: After selling a majority stake in his financial services arm, Future Capital, to private equity giant WarburgPincus, KishoreBiyani is getting ready to unlock the value in his general insurance joint venture Future Generali India Insurance Company. (The Economic Times)
Govt likely to appoint bankers for OIL follow-on offer: The government is likely to appoint bankers for a follow-on public offer (FPO) of Oil India , the nation’s second biggest explorer, by October 17. “The government had called bids from bankers by October 4. They will called be called for presentation on October 17 and three bankers will be selected on that day,” OIL Director (Finance) T K Ananth Kumar told reporters here. (Moneycontrol)