facebook-page-view
Advertisement

News Roundup: ETA Engineering May Raise Rs 300Cr From NSR

By TEAM VCC

  • 18 Jan 2011

ETA Engineering May Raise Rs 300Cr From NSR - Dubai-based $6-billion conglomerate Emirates Trading Agency (ETA) will be divesting up to 25% stake in its Indian engineering services firm ETA Engineering to New Silk Route (NSR) for Rs 300 crore. ETA Engineering, based in Chennai, provides electromechanical services to hotels, hospitals, technology parks and other commercial buildings. The investor will subscribe mostly to fresh shares apart from buying a small part of the promoting holding in a secondary transaction. (Times of India)

India Value Fund May Invest In Camlin - The Dandekar family, owners of the 80-year-old office stationery major, Camlin, is in talks with private equity major India Value Fund to sell a part of its shareholding to part finance growth plans. The promoters, four members from the Dandekar family, own close to 40% in Camlin. The deal could be for around Rs 100 crore. (Economic Times)

Everstone Raises $350M For New Fund - Everstone Capital Management has raised $350 million (Rs.1,596 crore) of the targeted $550 million for its latest fund, Everstone Capital Partners II (ECP II). This is Everstone’s first fund-raising since it was spun off from FCH. It now manages $1.5 billion across three funds, including a real estate fund and a logistics fund. In a restructuring in December 2009, FCH was split into two. Sameer Sain, managing partner of Everstone, and his team have committed to invest $20 million in the ECP II fund.

Advertisement

RIL, Atlas Eye Further Shale Gas Assets - Reliance Industries Ltd and US-based Atlas Energy are exploring options for expanding their shale gas joint venture to new geographies including Canada and Australia. A senior team of Atlas Energy was in India to take stock of the existing joint venture and discuss other details. The new geographies being explored are likely to be other shale gas areas in Europe, Asia, within the US or in third countries including Canada and Australia. (HinduBusinessLine)

Shriram Properties To Raise Rs 700Cr For Projects - Real estate developer Shriram Properties plans to raise over Rs 700 crore in the next few months through private equity placements in its existing projects.The company will not dilute more than 50% stake in each project. The company plans to use these funds to buy out stressed assets in the South. Cities such as Bangalore, Chennai, Hyderabad, Coimbatore, Madurai, Tiruchi and Mangalore are on the company's radar. (HinduBusinessLine)

JSW Steel To Invest Rs 3,800Cr In Ispat - JSW Steel today said it planned to infuse Rs 3,800 crore in Ispat Industries over the next two to three years. The country's third-largest steel maker, JSW Steel, had acquired nearly 45% stake in debt-ridden Ispat Industries for Rs 2,157 crore in December last year. On Ispat’s current debt, which stands at about Rs 9,800 crore, will be recasted by September 2011. (Business Standard)

Advertisement

IL&FS May Invest Rs 150Cr In Maytas Properties - After taking control of the ailing Maytas Properties, a property development firm promoted by the family members of the tainted founder of Satyam Computer Services B Ramalinga Raju, IL&FS will now infuse at least Rs150 crore into the company. Maytas Properties was formally handed over to IL&FS by the Company Law Board (CLB) on January 14 by allowing it to hold up to 80% of the firms’s equity. (DNA)

Jindal Power's $1.7B IPO In April - Jindal Power, a unit of Jindal Steel & Power Ltd, is likely to launch its Rs 7,200 crore initial public offering by March or April if market conditions are okay.

Jindal Power had filed papers for the $1.6 billion IPO in December 2009, joining a raft of energy firms that have tapped the Indian stock market. (DNA)

Advertisement

Share article on

Advertisement
Advertisement