Embassy Property Plans Rs 2,400Cr Issue - Bangalore-based realty player Embassy Property Developers today filed for a Rs 2,400-crore initial public offer. The company is also considering a pre-IPO placement of up to Rs 1,175 crore. Edelweiss Capital, UBS Securities India, Nomura Financial Advisory & Securities India and Citigroup Global Markets India are the book-running lead managers to the issue. (Economic Times)

Blackstone Taking Over BofA Asia Realty Fund - Private equity major Blackstone  is taking over the management of a portfolio of Asian real estate investments from Bank of America Merrill Lynch which has a value of about $2 billion. (Financial Times)

GVK Eyes Anchor Investor For SEZ Project - GVK, the Hyderabad-based infrastructure developer, is looking for an anchor investor so that it can revive its special economic zone (SEZ) project in Tamil Nadu. GVK and Tamil Nadu Industrial Development Corporation Ltd (TIDCO) have plans to develop a multi-product SEZ, spread over 3,000 acres, at Perambalur. GVK is in the process of completing statutory requirements and building basic infrastructure for the SEZ. (Business Standard)

Panyam Cements Pledges Stake With L&T Finance - Panyam Cements and Minerals Industries Ltd has pledged 50.50% of its equity to L&T Finance, a subsidiary of Larsen and Toubro. It constitutes about 8.10 million equity shares owned by the promoters. L&T Finance has given a term loan in lieu of the pledged shares of the promoters. (HindusBusinessLine)

Godrej To Sell Ambi Pur For Rs 235Cr - Procter & Gamble is in the process of taking control of the Ambi Pur air care brand in India after its completed the purchase of the brand globally for $468 million. Godrej Group, which had the rights to market the brand in India till 2012, has relinquished these to Sara Lee, which, in turn, will hand Ambi Pur to P&G, the new owner. The Godrej Group is likely to have received around e 40 m ($50 million, or Rs 235 crore) for the deal. (ET)

GMR Ups Stake in Karur Vysya Bank - Infrastructure major GMR Group, which has been steadily building up its shareholding in Chennai-based Karur Vysya Bank over the past year, has become the single-largest shareholder in the private bank through a recent market transaction. GMR Group’s shareholding in Karur Vysya Bank stands at 4.9%. (ET)

3i Infotech Arm Plans $10M Acquisition - Online financial solutions provider 3i Infotech Consumer Services Limited (3icsl) is planning to acquire a consumer-based organisation in the domestic market for a consideration of $10 million (approximately Rs 47 crore). The wholly-owned subsidiary of 3i Infotech Limited is eyeing acquisitions in travel, investment, consulting, healthcare and educational institutions. (BS)

iDeck Forms JV, To Invest Rs 30Cr - The Infrastructure Development Corporation (Karnataka) Limited (iDeCK), a 49 : 49.5 : 1.5 per cent joint venture between the government of Karnataka, Infrastructure Development Finance Company Limited (IDFC) and HDFC is looking to invest Rs 30 crore in healthcare and industrial infrastructure projects. (BS)

Govt Plans Rs 10,000Cr Pharma Fund - In an attempt to push research in the pharmaceutical sector, the government is planning to set up a Rs10,000 crore venture capital (VC) fund to provide much-needed financial assistance to the players. The government will contribute 15% to the corpus and the rest would be raised from other interested investors. The funds would be raised in three tranches —- Rs3,000 crore in 2011-12, Rs 5,000 crore by 2013 and Rs 2,000 crore by 2015. (DNA)

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