GMR Airports To Raise $200M From Macquarie SBI Fund – GMR Airports Holding, the wholly-owned subsidiary of GMR Infrastructure, is raising $200 million (Rs 930 crore) from Macquarie SBI Infrastructure Investment. The fund will invest through compulsorily convertible preference shares (CCPS) which may convert a maximum of up to 39.1% stake. GMR Airports Holding will be valued at Rs 2,400 crore. (Economic Times)
PE Firms In Race For Mumbai Hospital – A clutch of private equity firms and a large Indian corporate house have initiated separate discussions to buy out Cumballa Hill Hospital & Heart Institute, a 50-bed hospital located at posh South Mumbai. The management of Cumballa Hill Hospital has valued the company at around Rs 250 crore. (ET)
Bandhan To Raise Rs 100Cr Equity Round – Bandhan Financial Services Pvt. Ltd, one of the largest MFIs in India, is planning to raise $21.67 million (INR 1 billion) through private equity (PE). The funds would be used for expansion and strengthening the balance sheet. Bandhan had appointed Intellecap as the advisor to the transaction. (ET)
Parsvnath In Talks With Red Fort, SUN-Apollo – Cash-strapped real estate developer Parsvnath Developers is planning to raise Rs 200 crore by selling stakes in its projects to private equity investors. The company is in talks with leading PE funds such as Red Fort Capital and SUN-Apollo for the same. Parsvnath is raising money to complete six of its projects and repay its debt. (Business Standard)
Tata To List Ginger Hotels – The Tata Group promoted Indian Hotels Company Limited (IHCL) is planning to list its two-star economy buget hotel chain Ginger Hotels (Roots Corporation Ltd) on stock exchanges as part of the company’s expansion plans. The hotel chain would be listed in the next couple of years. (BS)
New India Assurance Plans Overseas buys – The New India Assurance Co plans to acquire general insurance companies in West Indies and Africa as it pushes for inorganic growth. The company already has a subsidiary in Trinidad and Tobago in the Caribbean region and will route the acquisition through it. For its growth plans in Africa, Nigeria will be the gateway to expand its operations. New India will try to complete the acquisitions by 2010-11. (BS)
Bajaj Corp Oversubscribed 19 Times – Hair oil producer Bajaj Corp’s Rs 297 crore initial share sale offer got a robust response from investors, including retail, and was oversubscribed 19.2 times by the end of issue today. The IPO, which opened on August 2, saw huge participation from every category of investors, including retail and high net worth individuals. (BS)
Transgene Biotek Acquires US Firm – Transgene Biotek Ltd has said that it has entered into an agreement to acquire Marillion Pharmaceuticals Inc, a US Oncology Biopharmaceuticals company based in Exton. Marillion Pharmaceuticals, a clinical stage bio-pharmaceuticals company, engaged in development and commercialisation of novel therapeutics in oncology. (HinduBusinessLine)
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