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News Roundup: IndusInd Bank ready for inorganic growth

27 September, 2012

IndusInd Bank ready for inorganic growth: IndusInd Bank is looking at inorganic opportunities to expand its portfolio in certain segments where it is seeking faster growth. One such area is loans against properties. Speaking to TOI, Romesh Sobti, MD & CEO, IndusInd Bank, said, “We may look at portfolio acquisitions in areas that are complementary to our business and where we do not have the scale. (The Times of India)

Everstone to buy 35% in S Chand publishers: Everstone Capital is set to buy about $30 million stake in the seven-decade-old S Chand Group, a leading publisher of textbooks and digital learning, as private equity firms chase deals to transform old family-run companies. Everstone, managing assets worth $1.8 billion, may take around 35% stake in the New Delhi-based publishing business, said people familiar with the matter. (The Times of India)

Travelyaari plans to raise $10M VC fund: Bangalore-based online bus ticket booking service provider Travelyaari, part of Mantis Technologies, plans to raise $10 million (about Rs 55 crore) from venture capital (VC) funds. It is already in talks with leading VC funds that specialise in the e-commerce segment.The company plans to use the funds to increase its presence in the eastern parts of the country. (Business Standard)

Component makers help investors ride auto boom: With India on its way to becoming the third-largest automotive market, the automobile components industry has seen a spurt in private equity (PE)/venture capital (VC) deals. And, global PE giants have accounted for quite a few of these.This year, PE major Actis, an active investor in the Indian automobiles space, invested about Rs 350 crore in Aurangabad-based Endurance Technologies. The deal paved the way for the exit of investor Standard Chartered Private Equity (SCPE). (Business Standard)

GSPC’s IPO plan still on track, says MD: Even as the state-owned oil and gas major, Gujarat State Petroleum Corporation (GSPC) has raised Rs 3,000 crore through debt markets recently, the company has kept its options open for the initial public offering (IPO). In fact, the company officials believe that Rs 3,000-crore bonds issue would actually help the state PSU to successfully raise additional funds from its IPO likely next year. (Business Standard)

Madras SE in talks with regional bourses for merger: The Madras Stock Exchange is exploring the possibility of consolidation through merger of like-minded regional stock exchanges. A few exchanges have already evinced interest of merging with MSE, said S. Venkateswaran, Member, Advisory Committee, MSE, which is one of the oldest regional exchanges in the country. (Business Line)

Govt mulls Balco listing; ending dispute with Anil Agarwal: The government is looking at listing Balco and ending its dispute with Anil Agarwal-led Vedanta Resources. CNBC-TV18 learns from sources that the mines ministry has proposed options to end the protracted arbitration. The ministry is likely to move a formal proposal for cabinet committee on economic affairs (CCEA) shortly. (moneycontrol)

Religare Mutual Fund may sell stake to foreign financial services firm: Is Religare Mutual Fund set to make a “big announcement” soon? That is the speculation doing the rounds in the mutual fund industry. The buzz is that Religare Mutual, which manages assets worth Rs 11,000 crore, is in talks to sell a stake to a foreign financial services firm. (The Economic Times)

Courtesy: VCCEdge   


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News Roundup: IndusInd Bank ready for inorganic growth

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