ICICI Venture To Invest In Star Health – Private equity investor ICICI Venture is putting Rs 120 crore in the Chennai-based Star Health and Allied Insurance Company. ICICI Venture is picking up a 15-20% stake in a deal that values the company at Rs 600-800 crore. Star Health is a joint venture between Oman Insurance Company, ETA Ascon group (a business conglomerate in West Asia) and insurance professionals in India. (Business Standard)
StanChart To Buy Remaining UTI Securities Stake – London’s Standard Chartered Plc plans to acquire the remaining 26% stake in the erstwhile UTI Securities in the next three months. In August 2007 the bank acquired a 49% stake in brokerage firm UTI Securities from Securities Trading Corporation of India (STCI). The stake was then increased to 74% in 2008 and the name was changed to Standard Chartered Capital Market. (Domain-B)
Actis Biologics To Raise Rs 100 Cr From PEs – Actis Biologics is in talks with private equity (PE) players to dilute its stake in its two group entities based in India and Malaysia. It is looking to raise Rs 100 crore for its Indian entity Actis Biologics. For its Malaysian company Actis Biologics Malaysia, it has planned a fund raising to the tune of $7 million. Mumbai-based Actis Biologics will see the Rs 100 crore raised through equity dilution used for conducting clinical trials and setting up a manufacturing unit. (ET)
Avantha Power To Raise Rs 1250 Cr – Avantha Power & Infrastructure, part of the Gautam Thapar-led Avantha Group, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an IPO to raise Rs 1,250 crore. According to an APIL statement, Enam Securities, Kotak Mahindra, Citigroup and Axis Bank are acting as the book running lead managers to the issue. With 191 mw of operational thermal power capacity, APIL has 2,400 mw of generating capacity under various stages of implementation and 1,320 mw of generating capacity under planning spread across India. (Financial Chronicle)
Kalanithi Ups Offer For SpiceJet – Media baron Kalanithi Maran has hiked his bid for 51% stake in Spicejet to Rs800 crore from Rs700 crore earlier. The owner of Sun Network had initially offered Rs450 crore for a majority stake. Others like Anil Dhirubhai Ambani Group (ADAG) and Religare are also carrying out due diligence on India’s second-largest no-frills airline. According to a reuters report, the latest development to the story is that the promoters and the larger shareholders in the company are not interested in selling their stake at current valuations. (DNA)
3i Infotech In A Rs 182 Cr QIP – IT firm 3i Infotech has opened a share sale to institutional investors on Tuesday, to raise up to Rs 182 crore, it said in a BSE filing. The firm has set a floor price for the share sale at Rs 78.6 per share as per the rules, it said. In September, 3i Infotech has raised Rs 318 crore via institutional share sale. (Moneycontrol)
Alok Industries Raises Rs 424 Cr Via QIP – Alok Industries Ltd, a textile manufacturing company, has raised Rs 424 crore through qualified institutional placement (QIP). The company has issued 182.1 million shares of Rs 23.32 each to raise the funding. (Reuters)
Raheja Universal To Raise Rs 850Cr In IPO – Raheja Universal Ltd, a Mumbai-based real estate developer, is planning to raise about Rs 850 crore ($188.5 million) through an initial public offering (IPO). The firm has appointed Morgan Stanley, Citibank, Kotak Securities and Enam Securities as the arrangers to the deal. (Reuters)
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