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News Roundup: Ind-Barath Power Plans Rs 1,000 Cr Public Issue

08 June, 2010

Ind-Barath Power Plans Rs 1,000 Cr Public Issue – Ind-Barath Power Infra, which currently has an operational capacity of 300 mw, is planning an IPO of Rs 1,000 crore and expects to file the Draft Red Herring Prospectus with capital market regulator Sebi in a couple of weeks. The funds raised from the offering will be used for its upcoming power plants with a capacity of over 1,300 mw.  The Hyderabad-based company has private equity investors like Citigroup Venture, UTI Ventures (now Ascent Capital), Sequoia Capital and Bessemer Venture Partners. (Economic Times)

AC Muthiah May Sell Stake in Henkel India – The Indian co-promoter of Henkel India — the AC Muthiah Group — may be negotiating a stake sale to the German parent, Henkel AG, which owns the majority 50.97% in the firm. The AC Muthiah group holds about 17% in Henkel India, mainly through Tamil Nadu Petroproducts, which belongs to the Southern Petrochemical Industries Corporation (SPIC) group. (Times of India)

HT Media Ventures To Raise Rs 350 Cr – Foreign institutional investors, non-resident Indians and foreign venture capital investors (FVCIs) are set to pick up to 26% stake in Hindustan Media Ventures Ltd (HTMVL) for Rs 350 crore. The company, which has filed its DRHP, is also expected to launch its initial public offer in next few months to raise around Rs 300 crore. HTMVL is the Hindi arm of HT Media and publishes the Hindustan newspaper, Nandan and Kadambini Hindi magazines, among others. (Financial Express)

SKIL Infra May Take Creeping Acquisition Route – SKIL Infrastructure, whose open offer to shareholders of Pipavav Shipyard for an additional 20% in the latter is expected to evoke a lukewarm response, could go for a creeping acquisition in Pipavav to take its stake to 51%. SKIL Infrastructure’s open offer launched on Monday is priced at Rs 61.50 per share, almost 40% lower that the current market price of Pipavav. (FE)

IVCRCL Assets Plans Rs 1,400 Cr Equity Infusion – IVRCL Assets and Holdings Ltd, a subsidiary of infrastructure major IVRCL Infrastructures and Projects Ltd, is planning to infuse equity of about Rs 1,300-1,400 crore in the next three years. The firm plans equity infusion through selling the land bank, qualified institutional placement at the entity level and private equity at the asset or project level. IVRCL Assets currently has an equity base of Rs 123.61 crore and a net worth of Rs 2,400 crore. (DNA Money)

Ramky To Buy Firms In Australia, Sweden – Ramky Enviro Engineers Ltd, a Hyderabad-based waste management company, is acquiring two companies – one each in Australia and Sweden – for a total consideration of $60 million. The acquisition follows Ramky’s earlier acquisition of cleantech business from Singapore-based Sembcorp last year for $60 million. It believes the acquisitions will primarily add value to the sustainability of the business operations by bringing in new technologies to India. The company is also exploring more such opportunities internationally in the field of environment and waste management segment. (BS

Etisalat Looks At Rcom Stake, AT&T Denies Deal Talks – Etisalat, a UAE-based telecommunications services provider, is looking at a deal with Reliance Communications as it mulls over its options in India. Meanwhile, AT&T Inc, the US-based telecommunication services company which was reportedly in close talks with RCom for the deal, has denied the media reports suggesting deal talks. The board of Reliance Communications has already approved selling up to 26% stake in the company to strategic partners or private equity investors that could help the firm to fetch about $2 billion at current stock prices. (DNA

Tejas Networks May Buy Ethos Networks In Israel – Tejas Networks, a Bangalore-based networking and telecom equipment products company, is planning to acquire Ethos Networks, an Israel-based high-technology company specialising in carrier ethernet and network management products. It will be a share-swap deal where investors in Ethos will be given shares in the unlisted Tejas. Ethos Networks is a four-year old start-up. (ET)

Reliance MediaWorks Hikes Stake In Fame India – Three group firms of Anil Ambani-led Reliance ADAG has bought 85,962 equity shares constituting 0.25% equity share of Fame India taking their total stake to 15.28% in the company. The shares were purchased by Reliance Capital Partners, Reliance MediaWorks and Reliance Capital in an open market transaction.  The share buy is part of ADAG’s plan to become a dominant shareholder in the multiplex operator. (BS)

Alstom-Schneider Completes Areva Buy – Alstom and Schneider Electric, which have signed a consortium agreement in November 2009 to jointly acquire the transmission and distribution businesses of energy firm Areva, has closed the transaction. Alstom-Schneider combine have acquired Areva T&D, a listed entity, for a deal value worth €2.29 billion. Areva T&D has net financial debt of about €0.89 billion as of December 31, 2009, said a joint company statement. Post the deal, the transmission business, which comprises about two thirds of the total Areva T&D biz, will be transfered to Alstom, while the distribution business to the Schneider Electric. (Team VCC)


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News Roundup: Ind-Barath Power Plans Rs 1,000 Cr Public Issue

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