Govt planning to raise Rs 1,400Cr by selling 12.15% stake in Nalco: The government is planning to raise around Rs 1,400 crore by selling a 12.15% stake in National Aluminum Company Ltd (Nalco) on Friday, as it seeks to urgently revive the stuttering disinvestment programme. Two persons familiar with the process said the government wanted to test the appetite for PSU shares through this stake sale, and if successful, it would be followed by big-ticket divestments of NMDC this year and Oil India early next year. (The Economic Times)
Haryana govt in talks to buy Gurgaon toll plaza: Haryana chief minister Bhupinder Singh Hooda today said the state government is in talks with the National Highway Authority of India (NHAI) and the Ministry of Road Transport to buy out Gurgaon Toll Plaza, which has been caught in a logjam because of dispute over toll charges. (Business Standard)
Jubilant Energy plans to raise term loan of Rs 1,340Cr: London-listed Jubilant Energy plans to raise Rs 1,340 crore in rupee loans to repay existing term loan and fund its share of expense at the gas-discovery block in Krishna Godavari basin. The company on October 18 wrote to the Oil Ministry seeking government consent for creation of a charge on its 10 per cent interest in gas discovery block KG-OSN-2001/3 for raising the loan. (Business Standard)
Calyx Chemicals to hit markets in first half of 2013: Bulk drug and intermediates maker Calyx Chemicals and Pharmaceuticals plans to hit the market with an initial public offering (IPO) in the first half of 2013. The company has already filed a draft red herring prospectus for the same in the last week of September. Calyx had earlier planned to go for an IPO last year and had filed a DRHP for the purpose in March 2011. “However, we decided to hold the listing for a while as the markets were volatile. (Business Standard)
Monte Carlo eyes expansion, IPO: After raising close to Rs 175 crore from US-based private equity player Samara Capital around four months ago, Nahar Group company Monte carlo Fashions is now planning to expand both its manufacturing capacity as well its retail business. The company is also mulling an initial public offering next year. (Business Standard)
Ybrant Digital to raise funds: The board of directors of Ybrant digital has decided to raise funds to meet the expansion plans of the company. It constituted a sub-committee to discuss various options to raise the funds and also to appoint bankers, legal counsels and other advisors. (Business Line)
Sony Pictures eyes full stake in Multi Screen Media: Sony Pictures Television (SPT) could look at complete acquisition of Multi Screen Media India by increasing its stake to 100 per cent. The company is in the process of buying an additional 32 per cent stake from the other investors — Grandway Global Holdings Ltd and Atlas Equifin Private Ltd in MSM India — and has got a nod from the Foreign Investment Promotion Board. (Business Line)
May acquire 49% stake of Comviva from Bharti-Tech Mahindra: Tech Mahindra has met street expectations in the second quarter . Total income has risen by 6% at Rs 1,630 crore. Net profit was down 13% compared to the last quarter. But that was also in-line with expectations. In an interview to CNBC-TV18’s Kritika Saxena, the management, including chief financial officer Sonjoy Anand and executive vice chairman Vineet Nayyar, spoke about the results. (moneycontrol)
Cholamandalam Invest to raise Rs 500Cr via equity: Cholamandalam Investment and Finance Company (CIFCL), part of $ 4.4 billion Murugappa Group, is planning to raise around Rs 500 crore through equity. The move is to fund its growth and to increase its Tier I capital to meet the proposed regulatory requirement.Speaking to Business Standard, chief financial officer Arul Selvan said the fund raising would help future growth and also to meet if Usha Thorat’s Committee recommendation comes into effect. (Business Standard)
TCS, HCL Tech in talks to buy Belgian banking firm KBC Group arm Valuesource Technologies: Two of the country’s top software exporters – Tata Consultancy Services and HCL Technologies – are in discussions with KBC Group to buy the India-based offshore information technology arm of the Belgian banking firm, according to people familiar with the talks. (The Economic Times)
Tata Power Eyes Renewable Energy for growth: Tata Power Co. plans to expand its renewable power capacity to 6,000 megawatts by 2020, a senior company executive said. India’s top private power utility by capacity is also in talks to acquire renewable assets in India to fuel its expansion, Rahul Shah, Chief Business Development-India Business and Renewables, said. (The Wall Street Journal)
Carlyle, Baring eye 29% WNS stake buy: Private equity major Warburg Pincus has initiated fresh talks to sell a 29% stake in business process outsourcing firm WNS Holdings, attracting interest from global peers Carlyle Group, Baring Asia and others, said people familiar with the matter. (The Times of India)
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