IDFC Private Equity to buy Parag Milk stake for Rs 160Cr: IDFC Private Equity is all set to buy 15-20 % stake in Pune-based Parag Milk Foods for Rs 155-160 crore in the largest Private Equity transaction in the country’s dairy sector. Two people familiar with the discussions said the company will issue fresh shares to IDFC PE, while the transaction will also see existing investor Motilal OswalPE reducing its stake in the company. (The Economic Times)
Bank of Baroda, IDBI Bank look to raise foreign loans: Joining their peers, two public sector lenders Bank of Baroda (BoB) and IDBI Bank are looking to raise US dollar denominated loans. While IDBI Bank confirmed that it plans to raise $500 million US dollar-denominated loans under medium term notes (MTN) programme, BoB is looking to raise around $200 million loan for a two-year tenure.
RINL issue to hit market on October 16, remain open for 3 days: The Rs 2,500-crore initial public issue of the state-run Rashtriya Ispat Nigam (RINL) is likely to hit the market on October 16 and will remain open for subscription till October 18. The IPO, which would mark the kick-off the government’s disinvestment process for the current fiscal, was earlier deferred twice since the filing of the draft documents with the market regulator Sebi on May 18. (The Economic Times)
Indian power-savings firm may get IFC funding: The International Finance Corporation (IFC) is looking to invest up to $1.5 million (INR 80.5 million) in Ecolibrium Energy Pvt. Ltd. The funds would be used to expand its presence in the energy efficiency space by strengthening its product capabilities and reaching out to a larger customer base. CIIE is also a stake holder in the target company. (ASiANPOWER)