Ghari Maker To Raise Rs 1,000Cr In IPO – Maker of Ghari detergent, Rohit Surfactants Pvt Ltd, plans an initial public offering that could value the privately held company at about Rs 7,000 crore, higher than Gillette, Britannia and Emami. The Kanpur-based maker of the country’s second largest detergent brand by sales plans to raise Rs 1,000 crore and has had secret parleys with bankers Kotak, SBI Caps and Enam. It is also considering a pre-IPO placement. (Economic Times)
Anil Ambani Sells Stake In NICE For Rs 300Cr – Reliance Group chief Anil Ambani has sold 8% of his personal stake in the Baba Kalyani-promoted Nandi Infrastructure Corridor Enterprises (NICE), which is executing the Bangalore-Mysore Infrastructure Corridor, for $65 million (roughly Rs 300 crore). Ambani offloaded his stake to Airro Mauritius, a fund affiliated to JP Morgan, valuing NICE at $812 million, or Rs 4,000 crore. (Times of India)
Everstone-backed Global Hospitals Eyes $100M Funding – Hyderabad-headquartered Global Hospitals Group may dilute promoter stake to raise $75-100 million (around Rs.375-500 crore) to fund expansion and is in talks with private equity investors. In 2007, the firm acquired Chennai-based Sri Kanchi Kamakoti Sankara Hospital for Rs 257 crore in an all-cash deal, to be paid in tranches. The hospital chain has Everstone Capital as an investor.
Analjit Singh Charts Succession Plan – Max India group Chairman Analjit Singh has created a succession plan under which all shares owned by the promoters have been shifted to two trusts. The trust structure has been created to ensure there is no squabbling over ownership of shares in Max group companies. (Business Standard)
Commex Tech Looks To Sell 10% In UCX – Commex Technologies, a software solutions provider and promoter of upcoming commodity bourse Universal Commodity Exchange (UCX), has approached the State Bank of India (SBI) group to sell up to 5-10% stake in the bourse. Shares will be issued at par, much like when UCX’s promoter sold stake in the bourse to public sector companies such as IDBI Bank or Rural Electrification Corporation and cooperatives like Iffco. (Economic Times)
Boehringer May Buy Pfizer’s Animal Health Business – Germany-based family owned pharma giant Boehringer Ingelheim (BI), will consider buying Pfizer’s animal health business, provided the company sells it in parts. In July last year, the world’s second biggest pharma company, Pfizer had announced a spin off of its animal health and nutrition business. (Economic Times)
UBS To Build Transaction Banking Biz In India – Swiss bank UBS AG plans to set up transaction banking capabilities in India as part of its strategy to reorganise its business model. The bank aims at leveraging relations with Swiss firms that are looking at doing business with Indian companies and vice versa. (Economic Times)