Edelweiss To Buy Anagram For Rs 150 Cr - Edelweiss Capital Ltd, one of the largest brokerages in India, is close to buying Anagram Stock Broking for Rs 150 crore. Anagram has 169 branches and 3000,00 clients mainly in Gujarat and Maharashtra. Anagram is owned by Lalbhai group , which has companies like Arvind Mills. Edelweiss is present in institutional equities, equity financing and investment banking, among others. (Mint)
SHV Group Buys Chevron Unit - SHV, a Dutch oil and gas major, has bought Chennai-based Caltex Gas India for around Rs 500 crore in an all-cash deal. the acquisition of Caltex, a wholly-owned subsidiary of US-based Chevron, is reportedly the largest in the Indian LPG segment. Caltex has a turnover of around Rs 350 crore and imports, stores, bottles and markets LPG in South India. (Economic Times)
Falcon Tyres To Raise Rs 100 crore - Ruia Group company Falcon Tyres, which manufactures two- and three-wheeler tyres, is planning to raise Rs 100 crore through foreign currency convertible bonds (FCCBs), global depository receipts (GDRs) or a qualified institutional placement (QIP). The company has chalked out a Rs 300 crore to capex, for which Rs 150 crore has been tied up in loans. (DNA)
Bata To Sell Stake in Realty Projects - Shoe major Bata India is could be selling some of its stake in Riverbank Developers, an integrated township coming up at Batanagar near Kolkata. The total deal size is expected to be above Rs 100 crore. Bata India is developing the project through two SPVs. (DNA)
Govt May Change PSU Stake Sale Advisors Selection Criteria - The government is planning to change the criteria of appointing investment bankers for issues of public sector companies with more focus on quality of track record. The Disinvestment Department is expected to approach the central vigilance commissioner (CVC) to allow it to change the criteria, which will give cost quoted by bidder a 30% weight and quality of investment bankers 70%. (Business Standard)
John Distilleries To Raise PE By March - Indian made foreign liquor maker John Distilleries Limited could close its private equity round of Rs 200 crore by March this year. The company is planning to dilute a 25% stake for part financing the future plans, which include expansion of its manufacturing capacity and introducing premium brands. John Distelleries expects a turnover of about Rs 500 crore as against Rs 350 crore last year. (BS)
Power Grid Plans Follow-On Offer - Power Grid Corporation of India Ltd (PGCIL) is planning a follow-on public issue of shares in the July-September quarter to raise around Rs 3,500 crore. This is addition to the state-owned transmission major's plans to raise Rs 2,500 crore through bonds in March. (Business Line)
Future Generali To Infuse Fresh Capital - Future Generali India Life Insurance Company, the insurance joint venture of the Future Group of India and Generali Group of Italy, has proposed to infuse an additional equity of Rs 150 crore before March end. The fresh infusion of capital is part of company’s plan to support the aggressive growth in premium income in the current financial year. The company is targeting to achieve 400% growth at Rs 750 crore this year, against a premium income of Rs 155 crore in the first year of its operation in 2008-09. (ET)
Insurance IPO Norms By Feb-end - The Insurance Regulatory and Development Authority (IRDA) will come out with its IPO guidelines for insurance companies by the end of February this year. The insurance-sector regulator is also mulling the introduction of a cap on charges on traditional products, as they had done with unit-linked insurance products (ULIPs). (Business Line)
