ICICI Bank Exits Bhartiya Samruddhi – India’s largest private sector lender ICICI Bank Ltd, which has invested in Bhartiya Samruddhi Finance (BFSL), a microfinance company in 2001, has made exit from the company during BFSL’s new round of fund raise recently. Along with ICICI, the other investor Shore Capital has also sold its stake in the company. Recently, Matrix Partners has invested Rs 100 crore in the third round of fund raise of BFSL for around 18% stake in the company. ()
Piramal Healthcare To Buy More OTC, Prescription Drug Brands – Piramal Healthcare Ltd, one of India’s largest pharmaceutical and healthcare company and part of diversified Piramal Group, plans to acquire more drug brands and diagnostics chains to expand its footprint across India. The company is planning to buy more over the counter (OTC) and established prescription drug brands in the domestic market. Last month, the firm has acquired Cipla’s emergency contraceptive product brand I-Pill for Rs 95 crore. ()
Aegis Logistics Acquires Shell Gas – Aegis Logistics Ltd, a Gujarat-based logistic company, has acquired Shell Gas LPG India Pvt Ltd. Shell has a gas infrastructure facility at Pipavav Port and an LPG filling plant in Gujarat. The company also carries out business of import and marketing of wholesale LPG. It also has interests in biofuels, wind and solar power and hydrogen. Aegis Logistics, on the other hand, provides supply chain management services to the Indian petroleum and chemical industry. ()
SpiceJet, Religare Voyages Deal Likely – The promoters of budget airline SpiceJet Ltd and Religare Voyages Ltd are close to finalizing a deal soon. Malvinder Singh owned air charter and travel business company Religare Voyages is close to picking up stake in SpiceJet. The SpiceJet promoters and Religare Voyages have been in talks for some time now. Religare is likely to go in for an open offer after it acquires the SpiceJet promoters’ stake. (DNA)
Disney Channel Buys TV Movie From DQ Entertainment – Disney Channel, a cable television channel specialising in television programming for children, has acquired The Kathmandu Caper, an animated TV movie based on Satyajit Ray’s detective series. Disney has bought the content from Chennai-based DQ Entertainment. The Kathmandu Caper is a 60-minute TV movie. The financial details of the transactions were not disclosed. ()
Oil India Ready With $2.5B Cash For Buy – Oil India Ltd (OIL), the state run explorer of petroleum products that bid for Gulfsands Petroleum Plc, plans to acquire producing assets overseas to help boost the country’s energy security. The company currently has over $2.5 billion in cash available for acquisitions, and is looking at options in Africa, Australia and Southeast Asia. (BS)
Govt May Hike FDI Limit In Defence Sector – The government of India is planning to increase foreign direct investment (FDI) limit in defence production, with a long-term objective of making India a major player in the sector. Currently, 26% FDI is allowed in defence manufacturing, and the industry bodies are demanding 100% FDI in this space. The decision, if materialises, would witness the participation of more private sector players in this space. (BS)
Orbis Power Hikes Stake In DPSC – Orbis Power Venture Pvt Ltd, the special purpose vehicle floated by real estate fund Infrastructure Finance Ltd to acquire Kolkata-based DPSC Ltd, has bought additional 17.31% stake in the company through an open market purchase, DPSC informed the stock exchange. Following this, Orbis Power now holds around 75% stake in the company. (Team VCC)
Ankur Drugs To Acquire TVC Life Sciences – Ankur Drugs and Pharma Ltd, a company engaged in contract manufacturing of pharmaceuticals formulations of various dosage, is planning to acquire the entire paid up capital of TVC Life Sciences Ltd. The board of directors of the company has already approved the acquisition plan. Following the transaction, Ankur will make TVC its wholly owned subsidiary. Currently TVC Sky Shop Ltd holds 99.94% shares of TVC Life Sciences Ltd. (Team VCC)
Overseas Infrastructure Buys Stake In CNI Research – Overseas Infrastructure Alliance India Pvt Ltd, a global project development and management company, is acquiring around 6.79% stake in Mumbai-based CNI Research Ltd. Overseas has bought the stake for $1.68 million through an open market transaction. CNI Research provides online capital market research services. It focuses on stock market insight, foreign institutional investor’s data, online institutional trades and change in trends and international news update. (Team VCC)
Coal India To Divest Stake In August – State-run Coal India, the country’s largest coal producer, is likely to sell some of its stake in August this year. The firm is going to hit the capital market with its initial public offer to sell around 10% government stake in the company. The government expects around Rs 12,000 crore from the sale. (Reuters)
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