facebook-page-view
Advertisement

News Roundup: ICICI Venture To Offload Tebma Shipyards Stake

By TEAM VCC

  • 19 Sep 2009

3i Looking At More Ports - London-based private-equity investor 3i Group Plc that is looking to make its third investment in a port as the nation’s freight traffic exceeds capacity. 3i has already invested a sum of $211 million in Krishnapatnam Port Co. on India’s eastern coast and Mundra Port & Special Economic Zone Ltd. 3i manages a $1.2 billion infrastructure fund for India.

ICICI Venture To Offload Tebma Shipyards Stake - Private equity firm ICICI Venture is planning to sell its 53% stake in Tebma Shipyards Ltd. The company is in talks with ABG Shipyard Ltd to sell the stake. ICICI Venture, through its India Advantage Fund VI, invested around Rs 100 crore to buy 53% stake in Tebma Shipyards in February 2007. Tebma Shipyards Ltd operates as a ship building company in India and has two manufacturing facilities in Karnataka and Chennai. (Mint)  

Hindalco To Raise $500M Via QIP - Hindalco Industries, an Aditya Birla group company, has planned to raise $500 million through a qualified institutional placement (QIP). In addition to that, the company would also explore other options such as issuing shares under global depository receipts or any other instrument or a combination of both. The fund will be utilised to finance its expansion plans. The company has formulated a team for financial restructuring to deal with various costs associated with its organic and inorganic growth plans. (Times of India) 

Advertisement

Den Networks Raises Rs 100 Cr - Leading cable company Den Networks has raised Rs 100 crore through a pre-IPO placement of its shares with a Mauritius-based fund. EMSAF Mauritius has bought 39.47 lakh shares amounting to 3.92% stake in the company for Rs 100 crore. The deal values the company at close to Rs 2,500 crore. The company  is looking at raising Rs 500 crore through its proposed initial public offer (IPO).

PNB To Acquire Stake In Kazakhstan Bank - Punjab National Bank (PNB) may acquire a stake in Kazakhstan's Metrokombank.  Metrokombank had assets of $35 million as of August 1, 2009 and is one of the smallest banks in the oil-rich Central Asian state. The deal will take place once several conditions are met, including a due diligence check and regulatory approvals. (Reuters)

ICICI Bank To Name Its Point-Of-Sale Business Partner Soon - Leading private sector lender ICICI Bank Ltd is close to finalising a partner for its point-of-sale terminal business. The bank would hive off the business into a joint venture and sell a 81% stake to its partner for $80 million. Point-of-sale terminals are used to swipe debit and credit cards for making payments. (Wall Street Journal)

Advertisement

Share article on

Advertisement
Advertisement