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News Roundup: GMR Infra seeks $200-250M valuation for Delhi Daredevils

13 June, 2012

Super Religare Raises Rs 370Cr From NYLIM Jacob Ballas, IFC – Super Religare Laboratories (SRL), the diagnostic subsidiary of listed firm Fortis Healthcare Limited has signed definitive agreements with two investment partners, NYLIM Jacob Ballas India and International Finance Corporation (IFC), to invest Rs 250 crore and Rs 120 crore respectively. Fortis Healthcare will continue to hold 55-56% equity stake in SRL. (Economic Times)

GMR Infra Seeks $200-250M Valuation For Delhi Daredevils – GMR Infrastructure shot up 4% on reports that GMR is considering options to unlock value in IPL team Delhi Daredevils. GMR group has sounded out bankers to unlock value in Delhi Daredevils and it seeks valuation of $200-250 million. GMR Group had bought Delhi Daredevils for $84 million. However, the group said it was not in talks to sell stake in Delhi Daredevils. (Moneycontrol)

Ashok Leyland To Raise Rs 750 Through Private Placement – Hinduja group flagship firm Ashok Leyland today said it will raise Rs 750 crore through issue of securities on private placement basis to finance the firm’s capital expenditure requirements. Funds will raised in one or more tranches by way of a qualified institutions placements to eligible qualified institutional buyers. (Business Standard)

SAIL-RINL JV Close To Buying Stake In Oman Mine – The SAIL-RINL joint venture is in advanced stages of discussions for acquiring 10 per cent stake in Oman-based limestone miner Majan Mining Company (MMC) for around Rs 200 crore. MMC’s limestone mine is located in West Teetam, Salalah in Oman and has 350 million tonnes of reserves. The deposits have low silica content and high reactivity making them ideal for usage in the steel industry. (Economic Times)

Petronet To Pick Up Stake In Kochi LNG Venture – Petronet LNG Ltd, India’s biggest importer of liquefied natural gas (LNG), is diversifying into shipping by taking a stake of up to 49% in the venture planned to haul gas to its new regasification terminal coming up at Kochi in Kerala. The diversification plan was unveiled in the tender floated by Petronet for selecting shipowners and operators for transporting LNG to the Kochi terminal, which is scheduled to become operational in 2014.

Nagarjuna Oil Raises $100M From Trafigura – Nagarjuna Oil Corporation (NOCL), a part of the Hyderabad-based Nagarjuna group, has raised about $100 million (Rs 553 crore) from Singapore-based crude oil trading major Trafigura to fund its six-million tonne oil refinery project coming up in the Petroleum Chemicals and Petrochemicals Investment Region on the Cuddalore-Nagapattinam stretch in Tamil Nadu. (Business Standard)

Maruti To Merge Suzuki Powertrain – The board of Maruti Suzuki, India’s largest carmaker, has proposed to merge Suzuki Powertrain India Ltd (SPIL), the diesel engine and transmission firm with itself, by entering into a stock swap transaction with its Japanese parent Suzuki Motor. The merger would see SPIL being spun into Maruti Suzuki by December, this year, in exchange for Maruti Suzuki shares that are valued at about 1,500 crore ($268 million). (Economic Times)


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News Roundup: GMR Infra seeks $200-250M valuation for Delhi Daredevils

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