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News Roundup: GMR Group Looks At LSE Listing

11 August, 2009

GMR Group Looks At LSE Listing – India’s infrastructure major GMR group is looking to list its global holding company on the London Stock Exchange (LSE) with consolidating its global assets under GMR Infrastructure International.  The group aims to build a $10 billion global assets portfolio. GMR’s overseas assets include a 50% stake in Netherlands-based power generator InterGen, 40% in Istanbul airport, an 800 Mw power plant under construction in Singapore, 38.5% in South Africa-based coal miner Homeland Energy and a coal mine in Indonesia. (Business Standard)

Murthy May Invest in Cleatech Fund – N R Narayana Murthy, co-founder and chief mentor of India’s second-largest IT services provider Infosys Technologies, may don the hat of a limited partner with investment in US-based clean technology venture capital (VC) fund Siderian Ventures. Murthy has expressed in becoming a venture capital investor, and is said to be conisdering an investment in budget housing venture promoted by Jaithirth (Jerry) Rao, former promoter of Mphasis. (BS)

Tata Capital Plans Distressed Fund – Tata Capital is aiming to raise a fund that will invest in distressed companies and help them expand their equity base. The fund will be a part of Tata Capital’s Special Situation Investment Business. Tata Capital is also looking to launch a private equity fund of around $350-500 million. (BS)

Suven Life To Raise $20 Mn – Drug firm Suven Life Sciences is looking to raise $20 million through debt and private equity placement for conducting phase II trial of its molecule indicated for the treatment of Alzheimer.  The company is in talks with multinationals for partnering them in development of the molecule. (BS)

US Exim Bank Commits $2.45 Bn To India Infra – The Export-Import Bank of the US has made a commitment of $2.45 billion under its India Infrastructure Facility for lending to infrastructure projects and capital goods purchases. This will help Indian companies to look at various financing options available for importing US products for their projects in India. (BS)

Sheths To Sell Stake in Greatship – Offshore services firm Greatship, promoted by the Sheths of Great Eastern Shipping, is looking to raise close to Rs 700 crore from a minority stake sale to part-finance expansion plans. The company, which had revenues of Rs 251 crore last year. has started talks with private equity firms to sell up to a 25% stake. (Economic Times)

 


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News Roundup: GMR Group Looks At LSE Listing

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