ICICI Venture Invests In School Chain – ICICI Venture, through its Mezzanine Fund, is investing in the country’s largest international baccalaureate chain based in Hyderabad. The Mezzanine Fund is investing Rs 20 crore in redeemable debentures of People Combine Avenues of Hyderabad, which runs India’s largest International baccalaureate (IB) school, Oakridge International School. (Business Standard)
IL&FS, Milestone To Invest In Asian Hotels – IL&FS India Realty Fund II, promoted by IL&FS Investment Managers and Milestone Capital Advisors, will buy a third of a subsidiary of Asian Hotels (West) promoted by Sushil Gupta, in a Rs 70-80 crore deal. Aria Hotels and Consultancy Services was recently awarded a piece of land for which a development agreement has been signed with Delhi airport. Aria also owns the Hyatt Regency at Sahar in Andheri East, Mumbai. (Financial Chronicle)
SKS IPO By July End – India’s largest microfinance firm, SKS Microfinance, is likely to hit the market with its proposed initial share sale by the end of this month after market regulator Securities and Exchange Board of India okayed the proposal last week. Sequoia Capital-backed SKS plans to raise between Rs 1,000 crore to Rs 1,500 crore to meet its expansion plans through the share sale, which will be the first-ever IPO by a micro finance institution in the domestic market. (Economic Times)
Edelweiss Eyes 4% In CSB – Edelweiss is seeking the permission of RBI to hold around a 5% stake in Catholic Syrian Bank (CSB), the small private sector lender that has been on the radar of bigger banks and corporates. Edelweiss currently holds 0.99% in the unlisted bank and wants to buy another 4% from Sura Chansrichawla, the Bangkok-based NRI businessman who controls around 24% of CSB equity. (ET)
RIL Eyes Bombay Dyeing Biz – The possible sale of Bombay Dyeing’s polyester plant has attracted players like Mukesh Ambani’s RIL, Indo Rama and JBF Industries. The Wadias are metamorphosing into builders of homes and offices from selling textiles and petrochemicals, where prospects are dimming. (ET)
ICICI Pru To Invest In Mumbai Project – ICICI Prudential Portfolio Managers is close to investing Rs 75 crore in the upcoming commercial project of the Kanakiya group in Mumbai. Kanakiya acquired the development rights of the land from the Delhi-based Parsvnath Developers recently. (BS)
Maran’s Open Offer Puts spotlight On Tata Stake – Chennai-based media baron Kalanithi Maran has announced an open offer to public shareholders of SpiceJet which will bring into focus the Tata Group’s stake. The conglomerate, through Ewart Investments, holds 5.45%. Tata’s are one of the significant non-promoter shareholders after Goldman Sachs’ 6% stake in the Gurgaon-based airline. (Times of India)
Reliance Life Eyes Strategic Investor, IPO – Anil Ambani Group’s life insurance venture, Reliance Life, today said it was looking for a strategic investor. It also proposed to come out with an initial public offer (IPO) once the guidelines were put in place. The company is talking to a number of foreign players to sell a 10 to 15% stake. (BS)
IOC, BPCL May Buy Shell Outlets – State-run Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Ltd (BPCL) are planning to bid for Shell India’s retail outlets. Shell India, the domestic arm of Royal Dutch Shell Plc, had offered for sale 20 of its 80 operational retail outlets and around 20 sites acquired earlier for setting up such outlets. (BS)
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