HDFC Realty To Exit Embassy Golf Links Project – HDFC Property Ventures, the real estate fund of India’s largest mortgage finance company, plans to exit its investment in Embassy Golf Links, a commercial real estate project in Bangalore for 255 crore. The fund house had picked up 33,000 sq. ft in the 5 million sq. ft commercial development in 2006. The property is currently occupied by LG and ANZ. High net worth individual investors and rental yield funds, are in talks with HDFC Property for the property. (Economic Times)
Macquarie-SBI Infra Fund To Invest Rs 1,000Cr In Port – Macquarie-SBI Infrastructure Fund (MSIF), one of the largest in this category in India, run by Macquarie SBI Infrastructure Management Pvt Ltd (MSIT), is in an advanced stage of talks with a shipping port company to make an investment of about Rs 1,000 crore ($200-220 million). The deal is likely to be closed in a couple of months. MSIF is a $1.2-billion fund and MSIT is a joint venture of State Bank of India (SBI), Macquarie, the Australian financial conglomerate, and the International Finance Corporation. (Business Standard)
Vinod Dham To Part With IndoUS Venture – American investor Vinod Dham, who led a nearly $190 million (Rs.864 crore) fund at IndoUS Venture Partners, the venture capital (VC) firm he founded five years ago, will not be a part of its second fund. IndoUS Venture recently initiated the process to raise an undisclosed sum for a new fund that will be run by its other existing promoters. Dham said he has stepped down from the new fund as the firm’s focus has changed.
Future Ventures’ Rs 750Cr IPO Likely By March – Kishore Biyani’s Future Ventures is looking at tapping the primary market with a Rs 750-crore initial public offer (IPO) next month. Future Ventures, the venture capital arm of Future Group, had first applied with the Securities and Exchange Board of India (Sebi) for an IPO in 2008. Enam, JM Financial and Kotak Mahindra Capital are the book running lead managers for the IPO. Future Ventures would be the second venture capital firm to go for an IPO after IL&FS Investment Managers tapped the markets in March 2010. (Business Standard)
RIL To Get New Partner For Marcellus – Reliance Industries (RIL) today got a new partner for its Marcellus Shale gas assets in the US, as Atlas Energy shareholders approved its merger with Chevron Corporation. RIL is keen and interested in the shale gas business. Instead of working with Atlas Energy, it will now work with Chevron. On January 10, Reliance Holdings USA, an arm of RIL, had written to the Atlas Energy management, questioning why RIL was not informed of the Chevron deal. (Business Standard)
Acropetal Tech To Raise Rs 170Cr In An IPO – IT and BPO firm Acropetal Technologies on Wednesday said it has fixed price band of Rs 88-90 a share for its Rs 170 crore initial public issue.
The floor price has been fixed 8.8-9 times up from the face value of Rs 10 a share. The public issue is scheduled to open on February 21 and close on February 24, it said. The funds raised through the initial public offer would be utilised business expansion within the country and abroad, including setting of up a software development centre-cum- corporate office at Hosur Road, Bangalore. (BusinessLine)
UNIFI Capital Launches Fund Focused On Spin-Offs, Demegers – City-based portfolio management company, UNIFI Capital, aims to diversify its portfolio and raise Rs 200 crore this year through its newly launched open-ended fund “UNIFI Capital India Spin-Off”. Spin-Off fund is dedicated exclusively to investments into corporate spin-offs and demergers. UNIFI plans to keep an investment perspective of 18-24 months. (BusinessLine)
Techno Electric To Raise Rs 750Cr From IFC, Others – Kolkata-based Techno Electric & Engineering Company is in talks with IFC, Standard Chartered Bank and DBS Bank for raising Rs 750 crore of debt to part-finance its 200 mw wind power project in Tamil Nadu. The company plans to invest about Rs 1,150 crore in the wind power project in two phases. The first phase will include a 125 mw capacity and is expected to be commissioned by June 2011 in Tamil Nadu. (Economic Times)