HDFC, Advent Look To Sell CAMS Stake – HDFC group and private equity (PE) firm Advent International Corp. are looking to sell their investments in Computer Age Management Services Pvt. Ltd (CAMS), a Chennai-based mutual fund registrar and transfer agent. NM Rothschild and Sons India Pvt. Ltd has been given the mandate to scout for buyers. CAMS is a joint venture of Housing Development Finance Corp. Ltd (HDFC), Advent and Chennai-based Acsys Software India Pvt. Ltd. The deal could be in the range of $100-150 million. HDFC group and Advent hold over a 60% stake in the firm.
Gagan Vanaspati Put On The Block – The promoters of Amrit Banaspati Company (ABC), better known for its vanaspati and edible oil brands like Gagan, Ginni and Marigold, are said to be exploring various options, which range from selling its brands to offloading a substantial stake in the company. ABC, whose Gagan brand is among the top three vanaspati brands in the country, has sent feelers to a number of Indian and multinational players in the edible oil industry, which include Ruchi Soya, Cargill India, Bunge India and Adani Wilmar. Owned by Naresh Kumar Bajaj and family, ABC is a Rs 1,000-crore company. ABC’s Gagan brand of vanaspati is said to have a turnover of around Rs 350 crore. (Times of India)
SEBI Halts Listing Of Vaswani Industries – The public offer for Vaswani Industries, in which the bidding had closed on May 3, has been stopped from listing by Sebi after over 3,000 retail applications were withdrawn. The market regulator has collected bidding data from the registrar to the issue Link Intime and has written to the two exchanges-NSE and BSE-to stop listing of the stock till it completes the investigations into the bidding and the subsequent withdrawal of applications. (Times of India)
Experian Eyes Acquisitions In India – Experian, a global information, analytical tools and marketing services company, is exploring acquisition opportunities in India. The company, which owns 49% stake in India’s second-largest credit information bureau, Experian Credit Information Company of India Pvt Limited, is scouting for buy-outs in web analytics, knowledge process outsourcing, business information and digital marketing. Since 2006, Experian had accounted for 25 acquisitions, at an average investment of $2.8 billion. (Business Standard)
Ascendas To Expand India Presence – Ascendas, the Singapore-based business parks developer, is embarking on a massive expansion in India. The company has already developed close to eight million square feet spread over 128 acres and is planning to add another 140 acres. The expansion plans envisages a 62-acre integrated information technology special economic zone (IT SEZ) in Gurgaon, a 25-acre IT SEZ in Pune and another 53-acre integrated development in Coimbatore. Ascendas India manages an asset size valued at close to $1.5 billion — about eight million square feet of completed business space catering to 250 clients and 64,000 professionals. (Business Standard)
Orchid To Raise Rs 1,00Cr To Redeem FCCBs – Orchid Chemicals & Pharmaceuticals is planning to raise about Rs1,000 crore primarily to repay the foreign currency convertible bonds (FCCBs) that would fall due in February 2012. While using a majority of the funds towards the FCCB obligation, the company would use the balance for discharging some of the debt and pursue organic and inorganic opportunities. The FCCBs carry a face value of about $117 million. (DNA)