Faering Capital Raises Rs 750Cr PE Fund - Faering Capital, the private equity firm promoted by Aditya Parekh and his friend and co-founder Sameer Shroff, has raised about Rs 750 crore from the domestic market. Aditya Parekhis the son of HDFC chairman Deepak Parekh. Faering is looking to invest in mid-cap firms, with an average deal size of Rs 30-80 crore. (Economic Times)
Lodha Project Raises Rs 500 Cr From HDFC Ventures - Real estate firm Lodha Developers has raised Rs 500 crore by selling a 10% stake in a project to develop a 117-storey residential tower in Mumbai to HDFC Venture Funds. Other investors include GIC, Temasek and Abu Dhabi Investment Authority. The deal is the second-largest private equity investment in India’s realty space and puts the valuation of the project at Rs 5,000 crore, two-and-a-half times its estimated cost. (ET)
Tata Realty Eyes Stake In IAL - Tata Realty and Infrastructure is looking at buying a significant stake in International Amusements Ltd (IAL), the promoters of the country's first theme amusement park, Delhi’s Appu Ghar. In the proposed deal, Tata Realty would buy out the stakes owned by private equity investors—DE Shaw, IDFC and IL&FS—for around Rs 400 crore. (Financial Express)
Baring, JPMorgan To Invest In Embassy SPV - JP Morgan and Baring Private Equity Partners are in the race to invest Rs 180 crore in a 14-acre residential project being developed by Bangalore-based developer Embassy Group. Embassy Group is building the project near the Hebbal flyover, north of Bangalore with 2 million square feet of residential development. Embassy Group is developing the project on a land historically-owned by Kirloskar Group in a 67 : 33 revenue share agreement. (Business Standard via Sify)
Dorf Ketal Arm In UK Acquisition - Dorf Ketal Chemicals AG, an arm of city-based Dorf Ketal Chemicals, has acquired Vertec business of UK-based chemical firm Johnson Matthey. The deal size is estimated to be about Rs 200 crore. The acquisition will help Dorf Ketal support its expansion plans in the global market. (BS)
Biocon Shares Surge On Deal buzz With Pfizer - Shares of Biocon surged to a 52-week high on Monday on rising speculation that global drug giant Pfizer is in talks with the Bangalore-based firm to buy a stake or strike a marketing alliance. Biocon hit a high of Rs 346.9 in intra-day trading on Monday before slipping to Rs 330.7. Speculation has been growing that Pfizer and Biocon are likely to announce a large transaction. (ET)
Punjab & Sind Gets Approval For IPO - Punjab & Sind Bank (PSB) has received fresh approval from the government for its initial public offering (IPO) and is expected to file a DRHP soon. The issue had been enlarged to 62.5 million shares in view of the government order mandating 25% public holding for all companies. But since the government has exempted public sector units from that rule now, Punjab & Sind has got a fresh approval for the original offer of 40 million shares. (BS)
Welspun Takes Management Control of MSK - Welspun Corp, the flagship of the $3 billion group, has said that its subsidiary Welspun Infratech has taken control of MSK Projects. The company has acquired a 61.12% stake in MSK. (BSE)
