Alok Industries mulls exit from retail business: Textile firm Alok Industries is looking at exiting its retail ventures as it wants to focus on its ‘core businesses’ and shift from non-core businesses such as retail which have increased its debt burden. The company is looking at hiving off or exiting its five-year old apparel retail business, ‘H&A’ and 200-store strong ‘ Store Twenty One’, a UK-based retail chain owned by the company. The firm is planning to sell the H&A business to foreign investors and also looking for buyers for Store Twenty One. (Business Standard)
Shriram Group to raise $200 mn for non-financial sector biz: Chennai-based Shriram Group is preparing a road map to raise about $200 million through the private equity (PE) route to seed emerging businesses in the non-financial segment. Recently, the group formed Shriram Entrepreneurial Ventures, a holding company for 10 non-financial services businesses such as Shriram EPC, Shriram Properties, Take Solutions (the technology arm), medical diagnostics, musical instruments and automobile components. Shriram Entrepreneurial Ventures was being readied to raise funds. (Business Standard)
Grameen Koota looks to raise $10 mn via equity route: Grameen Financial Services Pvt. Ltd., the Bangalore-based micro-finance institution is looking to raise $10 million (INR 54.8 crore) through the private equity route. The company had earlier raised resources from Aavishkaar Goodwell, MicroVentures and Incofin. The firm is already in various stages of discussions with few funds and they should be taking a final call on the funding at the earliest. In February 2011, Grameen raised NCDs of $7 million (Rs 35 crore) from DWM. (Business Standard)
Hudco may get $150-m line of credit from ADB next fiscal: Housing and Urban Development Corporation Ltd (Hudco) is in talks with Asian Development Bank (ADB) for $150-million (INR 823 crore) financial assistance under the catalysing sustainable finance (CSF) facility. The proposed facility is a concept developed by the two and uses the bank’s financial intermediation loan modality. The company has also launched a public issue of tax-free bonds for an aggregate amount of up to $136.6 million (INR 750 crore) and also has an option to retain an oversubscription of up to $911 million (INR 5,000 crore). (Business Line)
GeoPost to pick 40% stake in DTDC valuing the company at INR 475 crore: French express logistics giant GeoPost Group is set to pick up a strategic 40% stake in DTDC Courier & Cargo valuing the company at INR 475 crore. The investor would buy out the entire stake of Reliance Capital in DTDC, which is managed by Reliance Private Equity. Reliance Capital had invested INR 60-crore at the end of 2006 which has grown three times for the Anil Ambani Group. The existing promoters led by Chakraborty will continue to retain the remaining 60% stake in the company. (The Economic Times)
AirAsia looks for a partner to launch an Indian airline, promoter Tony Fernandes keen on India: AirAsia plans to launch an Indian airline in partnership with a local promoter as the desire to earn share in aviation market. The company is exploring options to set up a company that will be majority owned by an Indian promoter. AirAsia would hold 49% in the venture that will apply for an aviation licence. The Malaysian carrier has broached the issue with the Videocon Group and the talks are at a preliminary stage. (The Economic Times)
Ramky Enviro readies for INR 1,000-cr public issue: Ramky Enviro Engineers Ltd. is looking to enter capital market with an initial public offer to raise up to $182.2 million (INR 1,000 crore) to part fund its expansion. The company would launch its application next month and expects to enter market when the market conditions are ideal. Kotak Mahindra Bank, JPMorgan Chase, SBI Capital Markets and Edelweiss Capital are the managers to the issue. (Moneycontrol.com)
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