Mukesh Ambani, DE Shaw Plan $800M Infra Fund – Reliance Industries chairman Mukesh Ambani is close to inking a deal with global hedge fund DE Shaw to launch a $700-$800 million infrastructure fund. The two players are also looking at other areas such as carbon trading. Ambani is also said to be on the board of DE Shaw India. (Times of India)
Realty Firm Brigade To Raise $200M – Bangalore-headquartered realtor Brigade Group is planning to raise around $200 million (Rs 800 crore) for two of its special purpose vehicles at its upcoming 40 acres project ‘Brigade Gateway’. The firm is in discussions with some of the players. Brigade Enterprises had also mandated J P Morgan as the consultant for advising the company to raise around Rs 500 crore to ramp up its hospitality business. (Business Standard)
Rohan Landscapes To Raise Rs 400-500Cr From PE – Mumbai-based realty firm Rohan landscapes is in talks with private equity funds including JP Morgan’s realty fund to raise Rs 400-500 crore in funding for re-development projects. The firm may raise Rs 80-100 crore from JP Morgan.
BNY Mellon Scouts For AMC Partners – Bank of New York Mellon Bank is looking at business opportunities in India in asset management and custodial services and is seeking domestic partnerships in these two areas. It is interested in investing in an asset management company but high valuations are an impediment. (Economic Times)
Aavishkaar Makes Profitable Exits In Equitas, Others – Aavishkaar Venture has sold half its equity stake in urban microfinance firm Equitas Microfinance to global VC fund, Canaan Partners. It sold over 15% in Servals Automation, a rural energy solution company, and nearly a tenth of its ownership in Shree Kamdhenu Electronics, a dairy automation firm to the US-based Grass Roots Business Fund. (ET)
Shriram Drops Out Of Citi Financial Race – Chennai-based Shriram Group has pulled out of the race to acquire Citi Financial India, a struggling non-banking finance company (NBFC), by citing reasons ranging from the high cost of people to low returns on mortgage business, a highly delinquent loan book and lack of tax benefits in the proposed structure. (BS)
KKN Group Acquires Balaji Ispat – The Rs 450-crore KKN Group, now engaged in trading of FMCG products, has acquired mild steel ingot producing Balaji Ispat to diversify into manufacturing. The firm will mainly production of steel items such as TMT bars, sheets, ingots, billets and castings and refining of edible oil through setting up of refineries. (HinduBusinessLine)
Bandhan To Raise Rs 100Cr Equity Round – Bandhan Financial Services Pvt. Ltd, one of the largest MFIs in India, is planning to raise Rs 100 crore through private equity (PE). The funds would be used for expansion and strengthening the balance sheet. Sidbi had acquired a 10.92% stake in Bandhan for $10.7 million last year, valuing the company at close to $100 million. (Telegraph)
Gujarat Pipavav IPO Oversubscribed – Port operator and developer Gujarat Pipavav’s initial public offering to raise as much as $107 million has been subscribed 7.23 times on the third day of the offering. Gujarat Pipavav has set a price band of 42-48 rupees a share that closes on Thursday.