Mantri Developers To Get Rs 400Cr From Xander - Morgan Stanley-backed Mantri Developers Pvt Ltd is set to raise between Rs 350-400 crore from private equity firm Xander Group. The funds would be used for two large mixed-use developments in Chennai and Bangalore at the special purpose vehicles level. Xander will hold 49% stake in each of the SPVs. (Times of India)
Religare Eyes Deals In Hedge Funds - Religare Enterprises Ltd, which has plunged into the money-management business with majority stakes in private equity firms Northgate Capital and Landmark Partners, is now eyeing deals in hedge funds of funds and single-strategy hedge funds as well as traditional long-only equity and fixed-income firms. With a $1 billion war chest, the financial services group aims to build a global asset-management platform that has a full array of traditional and alternative investments. (WSJ)
Karuturi To Buy 54% In Florista - Karuturi Global Ltd will buy a 54% stake in Mumbai-based Florista, which has a chain of floral designing boutique stores across India. Karuturi, which produces cut roses, is planning to merge its retail business, Xpress, with Florista, which currently has 15 stores in India. The firm intends to aggressively grow its retail network in India to over 100 stores in two years. (DNA)
Bafna To Raise Rs 20Cr For Acquistion - Bafna Pharmaceuticals is raising close to Rs 20 crore for inorganic growth along with its expansion, which partially will be done by equity and partially with the debt. (Moneycontrol)
CESC To Raise Rs 1,200Cr Equity Funding - RPG Group company, CESC Ltd will raise around Rs 1,200 crore in equity to bridge the gap in financing to execute new proposed power projects worth Rs 35,000 crore in the next five years. CESC plans to have a capacity of 6,500 MW in thermal, 500 MW in hydel and 200 MW in solar energy through CESC and its subsidiaries. Its unit Haldia Energy Ltd plans a 26% stake sale to PE funds by January 2011.
