Marg to dilute stake in mall, education businesses: Chennai-based construction and infrastructure company Marg Ltd is planning to raise around Rs 500 crore through qualified institutional placements (QIPs), and is also planning to raise money from private equity investors for its mall, residential projects, education and other businesses. The company today informed the Bombay Stock Exchange that its board has approved the plan to raise Rs 500 crore in one or more tranches through qualified QIPs. (Business Standard)
Piramal scouts for acquisitions abroad: The Ajay Piramal-led Piramal Group has said it plans to make acquisitions in India and abroad in the healthcare and defence sectors. Earlier this year, the diversified Indian conglomerate had acquired Massachusetts-based healthcare information provider Decision Resources Group for $635 million. The company was actively looking for foreign and Indian acquisitions after selling its healthcare business to Abbott Laboratories in May 2010 for $3.72 billion. “We have already gone for some acquisitions using that money. (Business Standard)
Pricol scouts for foreign partner to tap Japanese OEMs: In a move to tap the orders from Japanese auto majors in India, Coimbatore-based auto components manufacturer Pricol Ltd is planning to rope in a foreign partner. The firm said it would transfer technology meant for Japanese cars to a subsidiary. (Business Standard)
Blackstone PE owned CMS info plans Rs 200Cr capex: Private equity fund Blackstone owned CMS Info Systems, cash management service provider, is scaling up operations through capital expenditure of Rs 200 crore over next three years and increase head count to 35,000 from present 20,000. This capex is keeping with the surge ATMs network expansion in the country due to aggressive plans of public sector banks to grow network. (Business Standard)
Wipro founder Azim Premji agrees to invest $25M in JSM’s restaurant chains: Wipro founder Azim Premji has agreed to invest $25 million (about Rs 130 crore) in JSM Corp, which runs Hard Rock Cafe and California Pizza Kitchen restaurants in India. The investment will be through Premji’s venture capital and private equity fund Premji Invest, three people close to the development told ET. (The Economic Times)
Swarovski may buy 12% stake in Mumbai’s Tara Jewels; deal to value Rs 500Cr: Austria-based Swarovski Group is close to buying a minority stake in domestic jewellery house Tara Jewels, according to two people close to the transaction. This is the first such investment by the luxury and cut crystal products maker in India, which has annual sales of around 3 billion (about Rs 20,400 crore) worldwide. While the exact financials are not available, people quoted above said Swarovski would be picking up a 10-12 % stake in the company, valuing it at around Rs 500 crore. (The Economic Times)
Apollo Tyres to acquire NYSE-listed Cooper Tire & Rubber Company: Apollo Tyres, one of India’s leading tyre makers, is in the process of acquiring NYSE-listed tyre maker Cooper Tire & Rubber Company, two people with direct knowledge of the matter said. The deal to acquire a controlling stake in Cooper Tire could be in the range of $600-800 million ( 3,150-4,040 crore), they indicated. Cooper Tire & Rubber Company is the parent company of a global family of companies that specialise in the design, manufacture, marketing, and sales of passenger car and light truck tires. (The Economic Times)
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