JPMorgan In Talks For 10% Stake In SIS Security – Private security company SIS Security Services will soon offload 10% stake for around Rs 500 crore. Top contenders are global private equity (PE) and hedge fund firm DE Shaw, which is already invested in the company, and PE major JP Morgan. The funds will be primarily used to acquire companies in India, Middle East and Southeast Asia. DE Shaw & Co already has a 14% stake in the company, having bought into SIS in 2008. The funds it brought in were used to acquire security company Chubb Australia. (Financial Express)
Taiyo Pacific Partners Plans India Fund – Taiyo Pacific Partners, which has been focused on investments in Japanese companies, is now planning an India fund. Taiyo has backing for its funds from buyout specialist WL Ross & Co and US’ largest pension fund CalPERS. Taiyo is likely to depute Sarath Sathkumara, who had joined the firm from Japanese private equity major SBI Group’s Singapore arm, to launch the India fund. Taiyo, located in Kirkland, Washington, was founded in 2003 by Asia-focused professionals dedicated to companies in Japan. (Business Line)
Tree House Raises Rs 19Cr From Omidyar Network – Tree House Education and Accessories Ltd, engaged in the pre-schools business, has raised Rs 19 crore in pre-IPO funding from Omidyar Network. The funding was raised from ON Mauritius besides existing investors Matrix Partners India and Foundation Capital. Tree House is looking at a Rs 150-crore initial public offering.
IVFA Defers Radio City Strategic Sale Talks – Private equity (PE) firm India Value Fund Advisors Pvt. Ltd (Ivfa) has put on hold its plan to find a strategic investor for Radio City, the FM radio channel it owns. IVFA has been in talks with several potential investors over the last nine months to explore a potential merger. It held talks with Reliance Broadcast Network Ltd (RBNL), the media services arm of the Anil Ambani-led Reliance Group that operates the radio station BIG 92.7 FM. (Mint)
Birla Power Solutions Eyes $100M From PE Firms – Portable generator-maker Birla Power Solutions is looking at raising up to $100 million in the current financial year from private equity players to part finance its diversification plans. The Yash Birla-led company has planned an investment of Rs 10,000 crore over the next five years to foray into thermal and solar power. For this, Birla Power Solutions may sell up to 15% stake in itself or up to 26% in its subsidiary, Birla Urja, to a private equity player. (Economic Times)
HDFC Life IPO By Year End – Private sector life insurer HDFC Life plans to raise funds through an initial public offering (IPO) of 10% of the current capital base. The insurer is planning the IPO by the year-end. HDFC Life is a joint venture between Housing Development Finance Corporation (HDFC) Ltd and UK-based insurer, Standard Life. While HDFC holds a stake of 74%, the British insurer holds the remaining 26%. HDFC Life is prepared for a domestic issue, even if the FDI limit is not raised. (Business Standard)
ING Vysya Bank Plans Preferential Issue – ING Vysya Bank on Monday said it plans to raise funds by issuing up to 2.8 crore equity shares to the promoters and qualified institutional players. At the today’s closing price of Rs 341.85 apiece on BSE, the bank would raise up to Rs 976.71 crore through the offer. The filing said that up to 1.5 crore shares will be sold to institutional buyers through a qualified institutional placement, and up to 1.3 crore equity to the bank’s promoters, ING Mauritius Holdings and ING Mauritius Investments. (Business Line)
Nalco May Buy Minority In Indonesian Mine – State-run National Aluminium Company today said it may buy a “minority” stake in an Indonesian coal mine to ensure long-term supply of dry fuel to its proposed $4 billion project in the South-Asian nation. Nalco is setting up a 0.5 mtpa aluminium smelter and 1,250 MW coal-based captive power plant at East Kalimantan province in Indonesia. It had earlier sought expression of interest (EoI) for 8-10 mtpa coal supply from local miners. (Economic Times)