GMR Infra May Raise Rs 466Cr In Airports Division – GMR Infrastructure Ltd, part of diversified GMR Group, is looking at raising funds for its airports division. The company is reportedly in advanced talks with Macquarie-SBI to raise $100 million (Rs 466 crore). Its airport portfolio includes Delhi International Airport Pvt Ltd, GMR Hyderabad International Airport Ltd and Sabiha Gokcen Airport Ltd in Istanbul, Turkey. The transaction is expected to close within a month. GMR Infrastructure has recently raised $200 million from Singapore investment fund Temasek Holdings for the energy segment. (BS)
Axis Bank Nearing PE Sale – Axis Bank, India’s third largest private sector lender which was is discussion to sell its private equity arm, Axis Private Equity Ltd, is nearing the deal. Leading state-owned banks, the prime investors in the fund and the group that is opposing Axis’ exit, have now asked the private bank to hold a joint meeting before it takes a final call on selling the fund. The concerned banks are Canara Bank, Bank of Baroda, Union Bank, United Bank of India, Corporation Bank and Punjab National Bank, which together have invested Rs 185 crore in the Rs 600-crore Axis Infrastructure Fund, while Axis had invested Rs 230 crore in the fund. The bank is going to call a meeting soon and will explain the rationale for divestment of management control to these investors. (ET)
UK’s Realty Firm Tishman Speyer Eyeing Buys In India – Tishman Speyer, one of the leading real estate players based at Rockefeller, New York City, hinted that it is scouting for acquisitions in India and is closing in on a few as it seeks to expand its presence in the country. After commissioning their first property in Asia, which was developed with an outlay of Rs 600 crore in partnership with ICICI Venture in the Financial District in Hyderabad, Tishman Speyer plans quick expansion through acquisitions. The company is currently looking at properties in Mumbai and Delhi for the buy. (Business Line)
CCD Buys Cafe Emporio In Czech Republic – Cafe Coffee Day (CCD), a leading chain of coffee shops in India, has acquired Czech cafe chain Cafe Emporio for Rs 15 crore in an attempt to establish a foothold in Europe. This is the firm’s first international buy. Cafe Emporio has 11 cafes in the Czech Republic. CCD, which has 917 outlets across India, four in Vienna and two in Karachi, has been in talks with firms in Poland, Hungary, Slovakia and Russia for acquisitions. The company plans to grow in both organic and inorganic way. (Mint)
Yogesh Munjal To Quit Hero Stake For Showa – Yogesh Munjal, a member of the family that owns 29% of Hero Honda, will assume control of a group auto component company in a move which could signal a wider untangling of cross-holdings. Munjal, who is the managing director of Munjal Showa, will likely relinquish his stake in other group companies like Hero Honda while other family members will give up their holding in Munjal Showa. The restructuring in Munjal Showa is part of a larger family settlement which is currently in the works. (ET)
RIL May Enter Coal-based Power Biz – Reliance Industries, freed from its non-compete agreement with the Anil Dhirubhai Ambani Group (ADAG) that barred it from investing in high-growth sectors, is likely to make its first big-ticket investment in coal-fired power plants. RIL is likely to settle on coal-based power plants. RIL’s possible entry into the power sector could throw up the intriguing possibility of the two brothers going head-to-head for the first time. (ET)
IndiaReit Plans Project-Specific Fund – Ajay Piramal’s real estate fund will launch a property-specific fund that will give investors the opportunity to buy apartments in such projects at a discount. Investors will be allowed to invest up to the cost of the flat. They will have to pay the cost price of the property along with a 15-20% management fee to buy it. IndiaReit also plans to raise about Rs 1,200 crore from high networth individuals for a fund that will focus on buying land around large cities earmarked for residential development and sell it within 12 years. (Mint)
NTC To Sell Two Mill Properties In Mumbai – Textiles major National Textile Corporation is close to selling two of its central Mumbai properties that will together raise more than Rs 2,000 crore. The two properties which are up for sale include Kohinoor Mills 1 & 2 in Dadar east and Sitaram Mills in Chinchpokli. They will have a combined minimum price of about Rs 2,000 crore for the nearly 20 acres of land. Bids for selling Kohinoor’s 13.65 acres and for Sitaram Mills’ 5.88 acres would be called next month. (ET)
Nomura Holdings Ropes In Citi’s Sandeep Singh – Nomura Holdings Inc, a Japanese securities firm, has hired Sandeep Singh from Citigroup Inc as head of telecommunications, media and technology investment banking for Asia, excluding Japan. Singh resigned from Citigroup last week after spending a decade at the company. (Mint)
Surya Pharma To Raise Rs 500Cr – Surya Pharmaceutical Ltd, a Chandigarh-based pharma company, is planning to raise Rs 500 crore through various instruments like rights issue, GDRs, ADRs, FCCBs and external commercial borrowings (ECB). The funds will be utilised in setting up of new projects, expansions, diversification, acquisitions, and to meet other business expenses and working capital requirements. The company is currently in talks with agencies, and expects to raise Rs 300 crore in next 4-6 months. (BS)
Electrotherm Completes Hans Ispat Buy – Electrotherm India Ltd, a Gujarat-based manufacturer of frequency induction melting furnaces, has completed the acquisition of Hans Ispat Pvt Ltd and its subsidiary Shree Hans Paper Ltd. Post this buy, Hans Ispat has become a wholly owned subsidiary of Electrotherm, while Shree Hans Papers as a step down subsidiary of the company, it informed the stock exchange. Hans Ispat currently has a manufacturing facility of 84,000 tonne per annum (TPA) of billet, around 1.2 lakh TPA of TMT rotting mitt, and another 72,000 TPA of stainless steel rolling mill. (Team VCC)
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