IFCI To Raise Rs 1,200Cr Via Bond - Industrial Financial Corporation of India (IFCI) Ltd, a leading financial consultancy in India, is planning to raise around Rs 1,200 crore in January-March through a mix of bond issue and market borrowings. The company has earlier raised over Rs 2,500 crore during the nine months ended December 2009. The proposed bond issue, which is currently undergoing a rating process, is likely to hit the market in March this year. (BS)

TA Associates Acquires Stake In Micromax - Private equity major TA Associates has picked up a minority stake in domestic handset maker Micromax for about Rs 225 crore. While the exact stake amount could not ascertained, it was reportedly less than 20%, valuing the handset maker at about Rs 1,000 crore. Micromax plans to use the fund to expand its handset business to Africa and Latin America. The company is set to launch operations in Nepal later this month, after which it plans to kick off its Africa operations in February-end and also launch in Latin America before the end of this fiscal. (ET)

Four PE Firms Invest Rs 250Cr In Coastal Projects - Global private equity majors Barings, Sequoia Capital, Fidelity and Deutsche Bank have invested Rs 250 crore in Hyderabad-based engineering company Coastal Projects, doubling their combined stake to 32%. The four PE firms had bought about 16% in the company for about Rs 160 crore in March 2008. While Barings has bought 11%, Fidelity, Sequoia Capital and Deutsche Bank, which were part of the first round of investment, have bought 5% together. About 10% was purchased from New Delhi-based DS Group, while Coastal issued shares worth 6%. (ET)

Bharti-Warid Deal Announcement Likely Today - An announcement of the much expected deal between Indian telecom giant Bharti Airtel and Bangladesh’s Warid is likely on Tuesday. CNBC-TV18 reports quoting sources that the green signal will be had from Bangladesh Prime Minister Sheikh Hasina, who is on an India visit. Bharti is set to become the first Indian operator in Bangladesh and would create the only South Asian telecom operator. Bharti, which undertook a failed attempt to takeover South Africa telecom major MTN in September last year, is to pick up 70% stake in Warid Telecom from UAE’s Dhabi Group. (CNBC TV18)

GTI To Raise Exposure In Nova’s Surgical Centres - US-based venture capital group GTI Llc will increase its investment in Bangalore-based Nova Medical Centres Pvt. Ltd to expand the firm’s day-care surgical centre network across the country. GTL will invest Rs1,000 crore spread equally across 100 centres in 10 cities in India, which will perform surgeries that allow patients to be discharged within 24 hours of the procedure. GTI and Bangalore-based surgeon Mahesh Reddy will together have a 70% stake in the expanded entity, while 40 doctors, who will also head these centres, will own the remaining stakes. (Mint)

3i Raising £1B Growth Fund - Private equity firm 3i Group Plc (III.L) is planning to raise a 1 billion pound ($1.6 billion) fund to buy minority stakes in small businesses. 3i was talking to third-party investors to drum up interest. A specialist in early stage investment, 3i branched out in recent years into bigger buyout deals, but these have been hit hard by the drying up of lending in the economic downturn. (PE Hub)

RIL Eyes Lyondell Co-promotership – Mukesh Ambani-led Reliance Industries Ltd (RIL) is wooing the LyondellBasell management, especially Russian promoter Leonid Blavatnik, to become co-promoter in the bankrupt Dutch chemical company. RIL is supposedly moving with that with a game plan to either partner the Lyondell management in the reorganisation, or offer funds to the promoters to repay their debt, probably after the firm got out of bankruptcy. The management’s new plan has got substantial creditor support, though unsecured creditors favour RIL’s acquisition plans. (BS)

Yes Bank To Set Up PE Firm - Private sector lender Yes Bank plans to set up a firm, Yes Ventures, to house its private equity funds, in 2010-11. The company is planning to have a centralised PE enterprise which will help incubate stand-alone and partnership funds. The bank is also in the process of closing a $200-million cleantech private equity fund with US private equity investor Global Environment Fund. The fund, proposed in June 2008, was expected to mop up $500 million. (BS)


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