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News Roundup: Kingfisher Identifies Three PE Firms To Raise $400M

30 December, 2009

Manappuram Aims To Raise Rs300Cr Through QIP – Manappuram General Finance and Leasing Ltd, a non-banking financial company and the country’s only listed gold loan institution, will raise Rs300 crore over the next month through qualified institutional placements (QIPs). The private placement of equity shares will be made to selected qualified institutional buyers in a month. Manappuram would also consider a follow-on public issue or further private equity funding. (Mint)

India, Russia Setting Up $600M Aircraft JV – India and Russia are to invest $600 million to set up a joint venture (JV) to produce a medium lift transport aircraft for their armed forces. While Bangalore-based state-owned Hindustan Aeronautics Ltd (HAL) will fork out $300 million, Russia’s United Aircraft Cooperation (UAC) will invest a similar amount for the joint venture which will start rolling out the aircraft by 2017. The JV would come up with its facility centre based in Ulyanovsk city on Volga. (DNA)

Jindal Power Files DRHP For Rs 7,200Cr IPO – Jindal Power Ltd, a part of Jindal Steel and Power Ltd (JSPL), plans to raise Rs 7,200 crore from its initial public offer (IPO). The company has filed a draft red herring prospectus with the Securities and Exchange Board of India (sebi). It intends to utilise the net proceeds of the issue to part finance the construction and development of various thermal power projects and partly for general corporate purposes. (BS

Kingfisher Identifies Three PE Firms To Raise $400M – Private carrier Kingfisher Airlines is believed to be in talks with private equity players Abu Dhabi-based Aabar Investments, Washington DC-based Carlyle Group and New York-based Texas Pacific Group to raise $400 million. Vijay Mallya-led carrier plans to utilise the funds to retire the company’s debts of $1.2 billion (Rs 5,640 crore) as on September 2009. The company has been looking to raise equity for a long time but a combination of bad market and high price expectations prevented the deal from happening. (FE)

Apalya Tech To Make Overseas Foray In FY11 – Venture capital funded Apalya Technologies Pvt Ltd, a Hyderabad-based mobile video platform developer, is planning to enter overseas markets with its flagship mobile live streaming and video on-demand product ‘MimobiTV’ by the second quarter of the next financial year. The company is looking at telecom operators in West Asia and Southeast Asia and plans to enter these geographies in tie up with local partners next year. It has raised a $3-million (Rs 14.5 crore) venture capital fund from IDG Ventures India and Qualcomm Ventures in October this year. (BS)

Govt To Sell 8.38% In NMDC – The government will sell 8.38% of its stake in the mining major NMDC before March 31, 2010, generating Rs 14,100 crore from the process. The divestment programme will happen through a follow-on public offer in the domestic market before the end of the fiscal. Currently, the government holds about 98.38% in the largest miner, and the rest is with the public. (BS)

Ranbaxy Transfers China JV Stake To HNG – Ranbaxy Laboratories Ltd, India’s leading pharmaceutical company, has transfered its entire holding in Ranbaxy Guangzhou China Ltd (RGCL) to HNG Chembio Pharmacy Company (HNG). The transaction is part of Ranbaxy’s plan to develop a new business model for China which entails the marketing of value added pharmaceutical formulations and the consolidation of manufacturing operations for cost synergies. (Team VCC)

Diageo-Radico FDI Proposal Likely To Get FIPB Nod – The Diageo-Radico joint venture is likely to receive Foreign Investment Promotion Board (FIPB) approval for inducting up to 100% FDI. The proposal involves induction of foreign investment of up to 100% in the company by the Netherlands-based Diageo Highlands Holding BV, which owns Diageo India. Diageo-Radico Pvt Ltd was set up in 2006 to tap the Indian Made Foreign Liquor (IMFL) segment in India. (HBL)

Mold Tek Meet On Preferential Issue – The board of directors of Mold Tek Technologies Ltd will meet on January 1, 2010, to discuss allotment of equity shares and fully convertible warrants on preferential basis. The company is based in Hyderabad and is engaged in the production and distribution of injection-moulded plastic containers. (HBL)

 


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News Roundup: Kingfisher Identifies Three PE Firms To Raise $400M

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