JDS Apparels To Raise PE Money: JDS Apparels (P) Ltd plans to raise Rs 40 crore from private equity players to fund its second phase of retail expansion in the country. The Noida-based fashion and lifestyle retailer currently operates 6 stores under the Ritu Wear brand in north India with another 10 in various stages of opening. JDS Apparels wants to expand another 10 stores by 2009.
Nandan Biomatrix To Raise PE Money: In its attempt to become the largest biodiesel producer in the next five years, the Rs 80-crore Nandan Biomatrix Ltd, with an annual capacity of 2.5 million tonnes, will soon be raising $30 million as private equity from a green fund. With the biodiesel policy in place, the company is bullish on the expected increase in demand for biodiesel and hopes to increase its targets for producing the feed stock.
Jai Balaji Industries To Raise PE Money : The promoters of Jai Balaji Industries, the steel projects in Chhattisgarh and West Bengal are open to dilution of 5% equity to mop up about Rs 300 crore for part-financing the firm’s steel projects. The promoters currently hold 63.93% stake in the company. Firm is setting up a 1 mtpa integrated steel plant in Chhattisgarh. It is scouting for land near Bhilai for the facility and has signed a memorandum of understanding with the Chhattisgarh government to this effect.
Suven Life Sciences To Raise Money: Suven Life Sciences Ltd will be raising $50 million through convertible debt instruments/securities. A proposal in this regard was approved by the members at the annual general meeting of the company held here, the Hyderabad-based company informed the BSE. The funds could be raised by the issue of foreign currency convertible bonds/American depository receipts and global depository receipts, among others, said a release.
IDFC to hold 20% stake in Nepalese Infrastructure Bank : Nepal’s finance minister Baburam Bhattarai is expected to announce the launch of the Nepal Infrastructure Bank, or NIB, which will be modelled on India’s Infrastructure Development Finance Co. Ltd, or IDFC. The Bank of Kathmandu is a member of the consortium of banks that will hold a 20% stake in NIB. India’s IDFC will hold a 20% stake, while the government of Nepal will own around 11% and a Nepalese private equity firm, another 20%.
UB Group looking to spin off subsidiaries and dilute stake in them : The UB Group is considering an option to spin off subsidiaries of some of its group companies for entering into joint ventures with foreign liquor companies. One of the options being looked at is floating subsidiaries for specific segments of business, which could then be used to allow foreign liquor companies to pick up a certain percentage of stake.
PFC in talks with financial Institutions to form a consortium : Government-owned Power Finance Corporation (PFC) is in talks with 16 financial institutions, including six overseas private equity players, to form a lending consortium that will pick equity stakes in upcoming projects. It is reported that PFC has invited 10 domestic lending majors — including State Bank of India, Life Insurance Corporation, Axis Bank, and Bank of India — to join the consortium. Actis Partners, US-based Cornell Capital Partners, Highfields Capital Management, and Nexent Vantures are among the global players that have been approached by PFC.
Chennai’s Alliance Group, which launched ‘Real Estate Television, a channel dedicated
to the realty sector in July this year, now plans to invest Rs.1 billion in next two years. The channel also has plans to foray in the markets of Middle East, US, Canada and Australia by February next year.
Arun Nanda Of Mahindra Given The French Honour: Arun Nanda, Executive Director, Mahindra & Mahindra, was conferred the French government honour of the Knight of the National Order of the Legion of Honour (Chevalier de la Legion d’Honneur) by the visiting French Minister of State for Foreign Trade, Ms Anne-Marie Idrac, said in a release.