Mergers & Acquisitions
D-Link India's board Approves Merger - The Taiwanese networking company and its Indian promoter KR Naik have parted ways. The board of D-Link Corporation approved of this decision. Under the new structure, which is split two ways, sales and marketing will go to D-Link
(India), while the residual business will be handled by Smartlink Network Systems.
SBI To Finalise JV For Insurance - State Bank of India (SBI) will finalise the terms of its general insurance venture with Insurance Australia Group (IAG) in the next few weeks, reports Business Standard. SBI will hold a 74% stake in the entity while remaining 26% will be held by the Australian partner.
GVK To Divest 25% Stake - GVK Power & Infrastructure Ltd plans to raise about $200 million by selling up to 25% stake in its unit GVK Energy, reports Reuters. It also informed the BSE today that it has divested the entire equity holding in its wholly owned subsidiary GVK Aviation Pvt. Ltd.
Vishal Retail To Raise Rs 200 crore - The New Delhi-based chain is planning to raise funds through the qualified institutional placement (QIP) route, reports DNA. If QIP does not go successfully, then the company plans to strike revenue-share agreements with mall developers
and also sign up franchisees to keep the expansion process on track.
Dish TV Announces Rights Issue - The Direct-to-home operatorit will raise about Rs 1,139 crore through allotment of shares on rights basis to the existing shareholders. The shares would be issued at a price of Rs 22. Also, Bharti Airtle plans to launch it DTH services from tommorrow.
Alkali Metals IPO - The public offering begins today with Alkali offering 25,50,000 equity shares of Rs 10 each at a price band of Rs 90-105 Ltd. The money raised would be used to part fund the setting up of a new manufacturing base.