Fraport to exit Delhi airport JV by June:The world’s second largest airport operator Fraport of Germany today said it will exit the Delhi airport by selling its entire 10 per cent interest and is in discussions with JV partner GMR Group in this regard.”We expect the process of selling our 10 per cent holdings in the Delhi airport to be done by next June,” Fraport Vice-President for global investments Kai Zobel told reporters here. (Business Standard)
PE firm NSR likely to buy India rights of Nando’s: Food connoisseurs aren’t likely to forget the taste of flame-grilled peri-peri chicken in a hurry. But Nando’s, a South African restaurant chain of Portuguese theme, will see its India rights acquired by a new owner shortly, said people familiar with the matter. (The Times of India)
Portman Plans $300m India Realty Fund: US-based real estate development and investment company Portman Holdings is looking to raise up to $300 million (over . 1,600 crore) worth of third-party capital to invest in Indian property markets, said a top company official. (The Times of India)
Prateek to raise Rs 100Cr PE fund for housing project in Noida: Realty firm Prateek Group on Tuesday said it plans to raise Rs 100 crore through private equity to fund an investment of Rs 550 to develop luxury housing project in Noida. The company is in advance stage of discussion with a private equity firm to raise fund and the deal is expected to be concluded next month. (Zeebiz)
Bhartiya Intl raises 700Cr for realty project: Fashion apparel company Bhartiya International has raised . 700 crore in debt for a 125-acre mixed-use project in Bangalore, marking its entry into the real estate business. The firm has raised the debt from a consortium of banks that includes Corporation Bank, Allahabad Bank, Bank of Baroda, State Bank of Patiala and Andhra Bank. (The Times of India)
To boost innovation, govt to set up Rs 5,000Cr plan: In a bid to boost innovation, the government will soon be setting up Rs. 5,000 crore fund to help entrepreneurs to see their ideas become a reality.The department of science and technology will soon be seeking finance ministry approval to set up Indian Opportunities Venture Fund to provide initial seed money to innovators to start companies having potential to take innovation to the market.
Cera looking to acquire internationally acknowledged brand- Vikram Somany: In an effort to have a “flexible” business plan, Cera Sanitaryware Limited has not only forayed into tiles manufacturing but is now also eyeing international acquisition. While Vikram Somany, CMD, Cera Sanitaryware agrees there is a long way to go for the company, Somany, in an interview with Kalpesh Damor, says both acquisitions and tiles manufacturing will propel the company’s growth in the coming years.Our plan to acquire an European brand is still on. We are essentially looking forward to buy out an internationally acknowledged ‘brand’. The company already has world class plant set up in the state of Gujarat. (Business Standard)
Muthoot Finance raises Rs 286Cr from NCD issue: Gold loan company Muthoot Finance has raised Rs 286 crore from its just concluded non-convertible debenture (NCD) issue, a top company official has said. The company had tapped the market in September with a Rs 250-crore NCD issue with an option to retain oversubscription of up to Rs 250 crore. (Business Line)