KKR Buys 9% In Avantha Power For Rs 217Cr – Private equity major Kohlberg Kravis & Roberts (KKR) has picked up a 9% stake in Avantha Power & Infrastructure Ltd (APIL), for Rs 217 crore. The power venture of Avantha Group has issued 6.38 crore equity shares at Rs 34 per share to the PE firm, valuing the company at Rs 2,450 crore. APIL is in the midst of entering the capital market to mop up Rs 1,250 crore through an initial public offer (IPO). (Economic Times)
Zephyr Invests $10M In Trimax – Zephyr Peacock India Fund has invested $10 million (Rs 45 crore) in Trimax IT Infrastructure and Services Ltd, a Mumbai-based information technology (IT) services firm. Trimax expects its revenue to increase to Rs 535 crore this fiscal year from Rs.351 crore in 2009-10, a 52% rise. Trimax raised an undisclosed amount from BanyanTree Growth Capital Fund for a 10% stake last year. (Mint)
Ashok Minda Group Buys Germa Co, Eyes Fundraising – Auto component maker Ashok Minda Group today said it will invest Rs 1,000 crore this fiscal to hike capacity and plans to make a public offer within the next two years. The group, which is targeting a turnover of Rs 2,500 crore this fiscal. Ashok Minda Group has completed acquisition of Germany’s auto component maker Aksys and is also looking for more opportunities overseas for buy-outs. The firm is also mulling a private equity placements. (Business Standard)
Ansal Properties Raises $52M – Realty firm Ansal Properties and Infrastructure has raised $52 million (over Rs 230 crore) through private placement of shares to institutional investors. The funds would be used to cut its high cost debt and execute ongoing projects. The company would issue shares at about Rs 90 per share. Ansal’s shares closed at Rs 91 at Bombay Stock Exchange. (BS)
Spic Sells Sical Stake – Southern Petrochemicals Industries Corporation (Spic), the AC Muthiah flagship company, has sold 1.44% out of 1.46% stake it held in Sical. The deal, which was completed late last week at a price of Rs 66.77 per share, brought in Rs 3.81 crore. Sical is backed by IDFC Private Equity through its investment vehicle IDFC Infrastructure Fund with a 13.28% stake. (Financial Express)
IFMR Capital Securitises Rs 106-cr Equitas Loans – IFMR Capital has structured, arranged and co-invested in a Rs 106.38-crore securitisation of 105,422 micro-credit loans given by the Chennai-headquartered microfinance institution, Equitas Micro Finance India Pvt Ltd. The three tranches of securities were subscribed by investors like UTI Mutual Fund, HDFC Bank and Reliance Capital. At Rs 106 crore, this is tipped to be the largest microfinance securitisation in the sector till date. (BS)
Patni Shares Surge On Sale Report – Patni Computers jumped by nearly 8% in the first half of trade on the Bombay Stock Exchange on Tuesday amid reports that the company’s promoters have reached a consensus on stake sale to Japanese IT major Fujitsu. Buoyed by the report, the company shares gained 7.99% to Rs 464 in the morning trade on the Bombay Stock Exchange.
Nuclear Power Corp, Uranium Corporation of India To Form JV – Nuclear Power Corporation (NPC) would soon sign an agreement with Uranium Corporation of India (UCI), both state-run companies, for a joint venture to acquire mining assets abroad to procure uranium. The firms are looking at mining assets in Nigeria, Namibia, Mongolia and Kazakhstan. The JV would also focus on the procurement of uranium from these assets. (BS)