RJ Corp's arm is in talks with PE funds to raise Rs 300 crore: Varun Beverages, the bottling arm of entrepreneur Ravi Jaipuria's RJ Corp, is in talks with four private equity funds to sell a minority stake in the company to raise around Rs 300 crore ($56.16 million) to build more bottling plants outside India. The RJ Corp-owned company is in preliminary talks with GIC Singapore, Temasek, Apax Partners and Blackstone independently and will soon enter into exclusive talks with one global fund. The company wants to raise the next round of capital for its global expansion plans. Varun Beverages is looking at selling stake to a large PE investor prior to its planned initial public offering in FY15. (The Economic Times)

Essar Steel hopes to raise $2 billion by FY'14 end to pare rupee debt: Essar Steel Ltd. is planning to raise $2 billion (Rs 10,658 crore) through pre-export finance by the end of the current financial year to retire part of its rupee debt. Pre-export funds are borrowed against confirmed orders from foreign buyers. At present, the company is in talks with financial institutions and expects to raise the money by the end of the financial year. (The Economic Times)

Lupin eyes growth via strategic brand acquisitions in United States: Pharma major Lupin Ltd is looking at strengthening branded portfolio with the launch of additional products developed and filed with the USFDA from its pipeline as well as through strategic brand acquisitions. The brands business contributed 21% of total US sales whereas the generics business contributed 79% during FY 2013. The company's US revenues grew by 54% to Rs 3,683 crore during FY 2013, up from Rs 2,393 crore in FY 2012. (The Economic Times)

Rashtriya Ispat asks NMDC to join Rs 2,000 crore STML project: With BHEL not showing willingness to be a partner in Rashtriya Ispat Nigam's high-end seamless tube mill project, NMDC has been asked to replace the power equipment maker in the Rs 2,000 crore ($374.45 million) venture. The shareholding pattern of the venture is likely to be finalized at the joint meeting with RINL, NMDC and MOIL meeting. Since the mill would be located inside RINL's Vizag facility, the steel producer may seek a majority stake in the venture. (The Economic Times)

Ramco Systems plans to raise Rs 125 crore from rights issue: Enterprise software firm Ramco Systems will launch a rights issue in the next few months, through which it plans to raise Rs 125 crore ($23.4 million). The proceeds would be utilised for branding and marketing operations and also to retire some of our debt. The current debt level of the company is about Rs 320 crore. Besides, the firm signed a strategic partnership with Eurocopter to offer cloud-based maintenance information systems for helicopters. (The Economic Times)

Eros plans to finalise NYSE IPO by August-end: Eros International, a leading global media and entertainment company, is likely to finalise its New York Stock Exchange (NYSE) listing plan by this month-end. The company had filed for an initial public offering for $250 million with the US Securities and Exchange Commission in March last year. EIML is very likely to disclose the NYSE listing details at its annual general meeting on August 28. (DNA)

Ruias' Essar Ports, US giant TPG capital in race for acquiring Karaikal Port: India's port and terminal company Essar Ports and US private equity giant TPG Capital are in the fray to acquire a majority stake in Karaikal Port, a subsidiary of debt-ridden Chennai based Marg group. The talks with the two suitors are at a preliminary stage and may or may not conclude into a deal. The promoters of the Marg Group are looking to substantially reduce their debt exposure of around Rs 1,000 crores and are expecting an enterprise value in excess of Rs 3,000 crore rupees. The plan is to use a part of the proceeds to settle Karaikal Port's debt of Rs 1,600 crore rupees. The balance would be divided between Marg promoters and the private equity investors of Karaikal Port. Motilal Oswal Investment Advisors are advising the Marg Group on the deal. Four private equity investors namely Standard Chartered Private Equity Ltd, Jacob Ballas India, IDFC and Ascent Capital Advisors together hold around 49% stake in Karaikal Port. The deal talks mark an attempt by TPG Capital to make its debut in the Indian ports and logistics sector.  (The Economic Times)

Courtesy: VCCEdge

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