Microqual To Raise $100M From IFC, Others – Foreign ownership in telecom tower company Microqual will climb to nearly 65% after World Bank arm, International Finance Corporation (IFC), and a clutch of overseas PE investors pump in investments of $100 million into the company. It already has a $25-million funding commitment from IFC and is in advanced talks with a clutch of overseas PE firms to raise another $75 million. Existing investors include Jafco Asia, BTS Advisors, Headland Capital Partners and Indo-US Venture Partners. (Economic Times)
Quadria Capital To Raise $300M Healthcare Fund – Private equity fund Quadria Capital Investment Management plans to raise a $300-million healthcare fund in which Religare Enterprises’ asset management arm will be the anchor investor. Religare Global Asset Management has committed to invest $15-30 million. The PE fund plans to deploy about half the fund in India and the remaining in South and Southeast Asia. (Economic Times)
Xander To Invest $600M To Develop 12 Malls – Global investment firm Xander Group will pump in $600 million (about Rs 3,300 crore) to develop and operate about 12 luxury shopping malls across India by 2017. Virtuous Retail, the group’s retail venture, is at present constructing eight such centres at various places and will develop another 2-4 malls in the coming years. (Business Standard)
ICRA To Focus On Inorganic Growth – Domestic credit rating agency Icra is planning to drive its growth in the next one-two years through inorganic route. Though scouting for good opportunities across the world, Icra has not zeroed in on anything as of now. Icra provides services in rating, grading, consultancy, knowledge process outsourcing (KPO) and IT, with majority of its revenue coming from the rating division. (Business Standard)
Vedanta Eyes Stake In Rajasthan Refinery – Close on the heels of Hindustan Petroleum Corp Ltd (HPCL) reviving the Rajasthan refinery project, London-based mining group Vedanta has evinced interest in taking a small stake in the 9 million tonnes a year project. HPCL has expressed interest in building a 9 million tonnes refinery at the Barmer oil find of Cairn India, which was last year acquired by Vedanta for $8.67 billion. (Business Standard)
SKS Microfinance To Raise Rs 3,500Cr – SKS Microfinance Ltd is planning to raise Rs 3,500 crore to fund its expansion plans. The ‘growth capital’ would be mobilised as debt from banks and financial institutions during the course of the year. In the fourth quarter of last financial year, the Hyderabad-based micro-lender had received an incremental debt funding of Rs 1,360 crore.