InterGlobe In Talks To Acquire Kale Consultants – Gurgaon-based InterGlobe is in talks for acquiring Mumbai-based Kale Consultants, an information technology services and solutions provider for the travel industry. The deal is at the due diligence stage. (Business Standard)
DB Realty To Sell 20% In Bandra Project – DB Realty is in talks with private equity firms for selling 20% stake in its Bandra Government Colony project looking at raising Rs 1,200 crore. DB Realty is in talks with existing investors IL&FS, which has a stake at the parent level. DB Realty will reconstruct the government residential buildings and hand over the constructed building to them and balance 11 acres would belong to the company as their saleable component.
Clover Solar In Talks For PE Fundraising – Solar energy-provider, Clover Solar, has earmarked a Rs 300-crore investment over the next two-years to set up 25 MW of solar power plants pan-India and is eyeing private equity funding for it. The company is in talks with some private equity and clean-tech funds to raise Rs 50-crore and could dilute around 25% stake. (PTI)
SMC Plans Public Issue, To Enter MF Biz – Domestic brokerage firm SMC Group today said it may come out with a public offer in the next two years and is also mulling an entry into the competitive mutual fund space. SMC has a presence in 425 cities in the country, with over 2,100 offices, and is looking forward to increasing its presence in 700 more cities by establishing an additional 5,500 offices in the next three years. (BS)
Shilpi Cable Plans IPO – Radio frequency (RF) cables manufacturer Shilpi Cable Technologies is eyeing an IPO of over Rs 50 crore by end-2010 and plans to file its draft red herring prospectus (DRHP) with Sebi this week. The Delhi-based company will use the IPO proceeds to set-up a wire and cable assembly shop, expand its product portfolio and manufacture cables for 3G networks. (HinduBusinessLine)
Temptation Picks Up Stake In Food Park – Food-processing firm Temptation Foods will pick-up a 46% stake in Jangipur Bengal Mega Food Park, a SPV created to set up a mega food park at Jangipur in West Bengal. The SPV, floated by Temptation Foods along with West Bengal Food Processing and Horticulture Development Corporation, will be be developed on the ‘Hub and Spoke’ model over 100 acres at an investment of around Rs 111 crore.
Two Bangalore Innovators On MIT List – Two employees of Microsoft Research in Bangalore, one of whom has since left the company to start an NGO, are among 35 people hailed as “outstanding innovators under the age of 35” by the Massachusetts Institute of Technology’s prestigious publication, Technology Review. (Times of India)