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News Roundup: Matrix-backed Centre For Sight in talks to raise Rs 150Cr

20 July, 2012

Matrix-backed Centre For Sight In Talks To Raise Rs 150Cr – India’s second-largest eye care chain, Centre for Sight, is in talks with private equity funds to sell a small stake and raise Rs 150 crore for expansion. The Delhi-based company, which is expecting revenues of about Rs 120 crore this fiscal, is likely to be valued between $150 million and $200 million. It is in talks with Actis, Temasek, KKR and Multiples Alternate Asset Management. The firm had earlier raised funding Rs 50 crore from Matrix Partners India in 2010. (Economic Times)

Lanco Infratech In Talks For Rs 23,000Cr Loan Recast –  Lanco Infratech, a builder of power plants and roads with nearly Rs 23,000 crore of longterm debt, is negotiating with some banks for an easier loan repayment schedule because of strain on its cash flow on account of lower capacity utilisation and high dues from consumers. The company is negotiating with individual banks for extension of loan tenure and lowering of interest cost as some of its power plants have been idled by fuel shortages. (Economic Times)

RIL Sells 80% In Two Iraqi Blocks To Chevron – RIL had sold its 80 per cent stake in two Iraqi blocks to Chevron for an undisclosed amount. However, according to several reports, the deal is valued at around $200 million though neither RIL nor Chevron revealed the deal size. RIL said the exit from the blocks is in line with its portfolio rationalisation strategy of international assets and to create value for the E&P segment. (Business Standard)

Lodha Set To Buy NTC Land In Mumbai For Rs 2,500-2,700Cr – To reduce its mounting debt, DLF is set to sign a deal with Mumbai-based Lodha Developers for selling one of its showcase non-core assets — the 17-acre National Textile Corporation (NTC) land in Mumbai. The deal is estimated at Rs 2,500-2,700 crore. Lodha Developers has already paid Rs 500 crore in advance. In 2005, DLF had bought the land from NTC for about Rs 700 crore. (Business Standard)

Seer Akademi Forms JV With JGI Group – Seer Akademi USA Inc, a player in engineering education and incubation promotion, has entered into a joint venture (JV) partnership with Bangalore-based Jain Group of Institutions (JGI Group) to set up an advanced electronics lab and incubation centre in Bangalore this year. Under the partnership, a 300-acre campus will be developed in Bangalore with an investment of $15 million, which will house research labs, training centres and an incubation facility. (Business Standard)

Jindal Power May Pick Up Stake In Gayatri JV – Hyderabad-based infrastructure firm Gayatri Projects is in talks with Jindal Power, the unlisted arm of Jindal Steel and Power Ltd ( JSPL), for a possible stake sale in a power project jointly developed by NCC and Gayatri. The deal is valued around over Rs 1,400 crore. The company has been in talks with over five strategic investors, including Tata Power and Jindal Steel and Power, for a possible stake sale. (Economic Times)


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News Roundup: Matrix-backed Centre For Sight in talks to raise Rs 150Cr

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