UK's health and fitness group The David Lloyd has begun talks with the management of Talwalkars Better Value Fitness to acquire around 20 per cent stake in the company, two people with direct knowledge of the development said. With this equity deal, both companies are looking to expand their existing partnership of providing consultancy services. In 2012, the company announced its partnership with David Lloyd Leisure Group to provide consulting for leisure and sports clubs in high end residential developments, gated community townships and corporate campuses. The BSE-listed Talwalkars Better Value Fitness is 54.78% owned by the promoters, Madhukar Talwalkar and family. () 

Cleartrip readies platform to raise $50 million through PEs: Cleartrip, one of the top online travel agencies (OTA) in India, is understood to be readying the platform to raise as much as $50 million (Rs 300 crore) through the private equity route. The company has already been backed by some of the blue-chip private equity fund including Kleiner Perkins Caufield & Byers, Sherpalo Ventures, DAG Ventures, Draper Fisher Jurvetson, besides a strategic investment from US-based Concur Technologies. The company is understood to be in various stages of appointing an investment banker to start the process. Cleartrip had last raised $40 million during early 2011 from US-based Concur Technologies, which is a provider of integrated travel and expense management solutions for companies. (Business Standard) 

PE-backed SKS remains confident of raising money: At a time when microfinance lenders from Andhra Pradesh are struggling to raise money from the market, Hyderabad-based SKS Microfinance seeks to stand out from the rest of the pack. The micro-lender has announced an ambitious plan to raise up to Rs 400 crore ($66 million) in next few months by selling shares to qualified institutional bidders to finance its business growth and strengthen the capital position of the company. Foreign institutional investors (FIIs) have increased their stake in SKS in the past few quarters and currently hold 38.36% stake. In 2012, SKS had raised Rs 263 crore through a QIP and preferential allotment of shares. (Business Standard) 

FTIL receives 10 offers for MCX stake sale: Financial Technologies (India) Ltd, or FTIL, has received 10 offers for its stake in Multi Commodity Exchange (MCX). FTIL has agreed to sell 24 per cent stake in the bourse. It has informed the Forward Markets Commission (FMC) it is in the process of divesting stake and the process could take six-eight weeks. In December 2013, FMC had issued an order, saying FTIL and a few others, including promoter Jignesh Shah, weren't 'fit and proper' to run MCX, following a default of Rs 5,574 crore at its subsidiary National Spot Exchange Ltd in July. FTIL holds 26% stake in MCX; FMC wants this to be reduced to less than two per cent. (Business Standard) 

SBI may raise up to $1b in medium-term notes: State Bank of India (SBI) may raise up to $1 billion ($6,010 crore) in medium-term notes (MTN) in the first quarter of the next financial year. The funds will be used to fuel growth in international operations, meet foreign currency needs of Indian companies and repay funds that the bank previously raised. The bank has room to raise about $4 billion (Rs 24,042 crore) under the MTN programme, which has a $10 billion (Rs 60,105 crore) limit. In 2011, SBI had expanded its MTN programme from $1.2 billion to $10 billion, seeing an opportunity to lend to Indian firms that were expanding aggressively in offshore markets. (Financial Chronicle) 

Rehan Khan plans to raise Rs 300 cr for startups building technology products: Angel investor Rehan Yar Khan is asking wealthy Indians to back him as he launches a new venture fund that will provide seed capital for startups building technology products. Khan expects to raise between Rs 200 crore and Rs 300 crore ($33 million - $50 million) for the fund, Orios Venture, which is in the process of being registered with market regulator Sebi. Apart from high-networth individuals, the Mumbai-based investor will also tap institutional investors and family offices for capital. His peers Sasha Mirchandani of Kae Capital and Karthik Reddy, who like Khan began as angel investors, are also on the road to raise fresh rounds of capital as early-stage investing takes off in India. ()

Courtesy: VCCEdge

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