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News Roundup: ICICI Prudential To Take Stake In Ansal API SPV

08 February, 2010

ICICI Prudential To Take Stake In Ansal API SPV – An investment company of ICICI Prudential is picking up a 40% stake in a residential project of the Ansal API group in Ghaziabad. The investment could be over Rs 100 crore in the project part of Ansal API’s township project, Aquapolis. The project will be hived off into a joint venture in which Ansal Landmard, a group company of Ansal API, and an investment arm of ICICI Pru will be a partner. (Business Standard)

TPG Eyes Vishal Retail – PE major TPG Capital is looking to pick up a majority stake in crisis-hit Vishal Retail and has submitted a proposal to the corporate debt restructuring (CDR) committee. The deal would include an infusion of Rs 250 crore into the company to buy out the promoter’s stake. The proposal from the PE firm would be considered on February 24. (Moneycontrol)

Gini & Jony Eyes Rs 125Cr IPO – Kidswear brand Gini & Jony plans to raise up to Rs 125 crore through a public offering by October this year. The funds raised will be used for company’s expansion, including its domestic and overseas retail network. It also plans to set up a third manufacturing unit in the country. (Businessline)

Ybrant Eyes More PE Funding – Ybrant Digital, a digital marketing solutions company, may go for a fresh round of private equity investment before reviving its plan to go public. Ybrant might go for a listing in the next financial year. The company expects to complete the 2009-10 financial year at $58 million in revenues. It has raised funding from PEs like Asia Pacific Capital and Sansar Capital. (BusinessLine)

Sanwaria Agro To Raise Rs 100Cr – Sanwaria Agro Oils is planning to mop up Rs 100 crore by March to fund its venture into high-value products such as soya flour, soya nuggets and vanaspati. The company is still to decide on the mode of fund raising and plans to use Rs 25 crore of its internal accruals as part of expansion. It has tie-ups with retailers like Reliance Fresh, Big Bazar and ITC Chopal. (BusinessLine)

Almondz Global To Raise Funding – Brokerage firm  Almondz Global Securities is planning to raise money through placement of equity with a foreign fund. The Delhi-based listed securities trading company has also made a preferential issue to the promoters and one of its shareholders, Al Anwar Holdings. (Economic Times)

Eveready Plans FMCG Acquisition – Eveready Industries is planning to acquire a fast moving consumer goods company in the range of Rs 150-Rs 200 crore to expand its product basket. The firm has started talks with potential targets. Eveready also expects a top line growth of 15% this fiscal over the last year. (Financial Express)

ADAG Says Fame Rejected Its Higher Offer – Reliance MediaWorks has accused multiplex theatre chain Fame India of rejecting its higher offer price in favour of Gujarat Fluro Chemicals-promoted INOX Leisure. Reliance has asked Fame’s promoter Shravan Shroff in a letter to explain why he sold his family’s stake to INOX Leisure at Rs 44 a share when Reliance had made an offer to buy it for Rs 80 a share. The mail was written by Reliance MediaWorks CEO Anil Arjun. The ADAG firm is expected to approach the Securities and Exchange Board of India (Sebi) as the next step if the issue is not resolved. (BS)

Takeda Eyeing Torrent Pharma – $15 billion Japanese pharma major Takeda, along with some European suitors, are eyeing a buyout of Torrent Pharma. The company’s promoter family may look at a sellout to focus on their power business. (DNA)

SpiceJet May Raise Up To $75M – Gurgaon-based low-cost carrier SpiceJet has appointed Edelweiss to find a strategic investor for the airline, which is looking to raise between $50-75 million for fleet acquisition and expansion plans. The company is in talks with south-based media baron and Sun TV promoter Kalanithi Maran. The development comes after exit of Dubai-based investment firm Istithmar, which sold its stake last week. (ET)

 


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News Roundup: ICICI Prudential To Take Stake In Ansal API SPV

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