VicatSagar To Raise Rs 400 Cr – VicatSagar Cement Limited is planning to raise an external funding of Rs 400 crore through debt and equity for its upcoming plant in Karnataka. VicatSagar is a 51:49 joint venture between France-based Vicat and Andhra Pradesh’s Sagar Cements. The 2.7 million tonnes per annum integrated cement plant will come up at a cost of Rs 1,600 crore. It also involves the construction of a 40 MW captive power plant and a waste heat recovery unit. (Business Standard)
Hindalco To Raise Rs 3,000 Cr – Aditya Birla group flagship company is planning to raise around Rs 3,000 crore through an equity sale to fund its ongoing projects. The funds will be raised either through qualified institutional placement or through the global depository receipts route. Hindalco has a capital expenditure plan of Rs 23,000 crore over the next three years, 70% of which will be funded through debt and rest through equity. (BS)
GCE Eyes Buyouts – Energy-efficiency consultancy firm GCE Group is eyeing acquisitions worth Rs 150 crore in India in the consulting and design space. While it plans to raise Rs 80 crore debt for the deal, the rest will be funded through internal accruals. The Russia-based firm expects to clock revenues of $100 million over the next five years. (Economic Times)
Mercer To Start Investment Advisory – Global compensation consulting firm Mercer is looking at bringing its investment advisory business to India. Mercer provides advice to domestic retirement funds and also to foreign companies which manage pension funds, who are looking at high growth markets like India. The $3-billion plus Mercer is a wholly-owned subsidiary of Marsh & McLennan, the holding company of the group. (ET)
Cobra’s India Arm To Raise Funds – Lord Karan Bilimoria of Cobra Beer plans to raise £4.5 million to expand in India. Grant Thornton has been mandated to work on a fund raising plan for the Indian business.The funds will be used to complete the purchase of a brewery in India and to develop the brand. Cobra’s Indian arm generated retail sales of about £5 million in the year to March but delivered losses of £4 million. (BS)
Milestone Plans An Offshore Fund – Private equity firm Milestone Capital is looking to raise a $250 million offshore fund to invest in the US, Europe and the Middle East in education and healthcare sectors. The fund will either be raised independently or jointly with Religare Enterprises. Milkestone and Religare have an exiting JV Fund, which is raising Rs 600 crore domestically to invest in the healthcare and education space in India. (ET)
Motilal Oswal Plans Rs 1,000 crore PE Fund – Domestic brokerage house Motilal Oswal Financial Services (MOFSL) is planning to raise its second private equity fund of Rs 1000 crore next calender year. The new fund follows the $125 million-corpus India business excellence fund, which has invested half of its corpus. The firms real estate fund, which has a corpus of Rs 100 crore, will also make its first investment soon. (Financial Chronicle)
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