Everstone, India Value Fund & Aditya Birla Group eye stake in Spykar: Everstone Capital, India Value Fund and the Aditya Birla Group are set to compete with a clutch of international private equity funds to acquire a controlling stake in Spykar Lifestyle, the biggest home-grown denim brand.The three firms joined the race after Avigo Capital, which has 60% stake in Spykar, revived plans to sell its share and mandated global investment bank Lincoln International to scout for potential buyers, persons familiar with the matter told ET on condition of anonymity. (The Economic Times)
Goverment may sell 9.5% in NTPC for Rs 13,000Cr: Power minister M Veerappa Moily on Tuesday said the government was examining the option of offloading 9.5% stake in NTPC, even as the state-run generation utility called for bids seeking supply of seven million tonne of imported coal for its 16 power stations. (The Times of India)
Sonalika arm plans a Rs 800Cr IPO: International Tractors Limited, a subsidiary of the Sonalika Group that deals in tractors and farm equipment, SUVs and diesel generator sets, plans to tap the capital markets via an initial public offering (IPO). “We are looking to raise Rs 800 crore via the IPO in two years; the proceeds will fuel inorganic growth plans,” Sonalika Group Chairman L D Mittal told Business Standard. (Business Standard)
Educomp may raise Rs 1,300Cr via long term securities: Education services provider Educomp Solutions is looking to raise an additional Rs 1,300 crore ($250 million) capital by issuance of international bonds and other long term securities. In a meeting held by the company yesterday, the board of directors of the Educomp Solutions have considered and approved this provision, subject to the approval of the shareholders. (Business Standard)
Omkar Realtors in talks with Kolkata’s forum for luxury residential project off Bandra-Kurla Complex: Mumbai-based Omkar Realtors & Developers is in advanced talks with Kolkatabased Forum Projects to enter into a joint venture to develop a 2-lakh sq ft super luxury residential project off Bandra-Kurla Complex in Mumbai, said people familiar with the development. The project will mark Forum Projects’ entry into Mumbai’s prime realty market, especially at a time when other large real estate companies from other parts of the country are moving out of the financial capital. (The Economic Times)
Matrix in talks for Rs 150Cr investment in Centre for Sight: Private equity firm Matrix Partners and a co-investor are close to investing Rs 150 crore, in Centre for Sight, one of the leading eyecare chains in the country.The proposed deal will give the investors a 15% stake in the company, according to a person directly involved with the negotiations. (The Economic Times)
Ventureast Tenet to set up new $50M fund in a year: Seed stage venture capital fund Ventureast Tenet Fund is looking at setting up a new fund between $40-50 million in the coming nine to 12 months, with a focus on early stage investments in companies that plan a global customer base.