Two top private equity players, Kolhberg Kravis Robers and Blackstone are known to have put in bids for the third largest telecom player-Idea Cellular. The companies have put in bids and they are as high as Rs 190 per share,” said an investment banker. The shares of Idea closed at Rs 143 per share on Friday, its last close. Both the private equity players combined, might be looking at taking a total stake of around 8%. Singaporean state-owned investment company Temasek, is also known to be looking to invest into. The company has also been in the process of raising funds through a qualified institutional placement (QIP). Last September, it had come very close to clinching a deal, however it could not go through. ()
Dighi Port looking to raise $100 m from overseas investors: Dighi Port, a Greenfield private port 40 nautical miles from Mumbai, is seeking tie-ups with international port operators and investors to raise fresh capital to finance its expansion plans. We are having discussions with a couple of strategic investors and hope to wrap up a deal in the next three months, said Chairman and Managing Director Vijay Kalantri. Dighi, which has so far invested about Rs 1,800 crore ($297 million), hopes to raise $100 million (about Rs 600 crore) from international investors. The focus now is to establish a 50-km link to the Konkan rail network and upgrade the road linking the national highway so as to ensure seamless flow of cargo to an from the port, said Kalantri. (Business Line)
Micromax eyes stake in S Korea’s Pantech: India’s number two smartphone marker, Micromax Informatics Ltd, has expressed interest in buying a stake in South Korean peer Pantech as part of its drive to expand abroad and go upmarket, two sources said on Monday. Pantech, South Korea’s number three smartphone maker, has been under a debt-restructuring programme after suffering six quarters of losses due to fierce competition. Nine creditor banks own a combined 37% of Pantech, while Qualcomm Inc has a 12% stake and Samsung Electronics Co Ltd holds 10%. ()
Jarvinia eyeing partners for agri firm Hishtil: Jarvinia, a Cyprus-based India-specific investment firm, is scouting for greenhouse partners for Hishtil, an Israel-based global nursery corporation, for operations in India. Hishtil specialises in production and sale of vegetables, herbs, seedlings and young plants for the professional and hobby markets, and the company plans to start greenhouse projects in various parts of the country in collaboration with local partners, according to an official from Jarvinia. We are working with Hishtil to find out a good partner for them in India, said CA Rashmi Parekh, director, Jarvinia Project Management Pvt. Ltd. (Business Standard)
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