Muthoot Finance Plans Rs 800Cr IPO - Muthoot Finance Ltd plans to raise at least Rs 800 crore ($178 million) from an initial public offering (IPO) in India. The company will sell 51.5 million shares in an initial public offering, divesting a 13.9% stake. Muthoot recently raised private equity funding from Baring Private Equity India, Matrix Partners and Kotak Private Equity. The IPO will be managed by ICICI Securities Ltd., Kotak Mahindra Capital Co. and HDFC Bank Ltd., according to the document. (Bloomberg)
JP Morgan To Invest Rs 160Cr In Rohan Lifescapes SPV - Private equity arm of JP Morgan Chase & Co is likely to invest Rs 160 crore in the first phase of Mumbai-based Rohan Lifescapes Ltd’s proposed 2-million-sq-ft residential project at Kalachowki in south central Mumbai. The first phase of the project will entail development of 700,000-800,000 sq ft of residential apartments on the vacant plot that is part of this 8.2 acre. JP Morgan will take a 26% stake in the project. (Economic Times)
StanChart PE To Invest In Checkmate - Standard Chartered Private Equity Ltd is in talks to buy 49% stake in security services provider Checkmate Services. The PE firm will pump in close to 70 crore in the Gujarat-based firm that will use the funds to expand its existing operations. Checkmate Services, a privately owned firm offers services such as manned guarding, cash and facility management besides electronic security solutions to companies across sectors. (ET)
Future Ventures IPO In Feb-March '11 - Future Ventures, part of Future Group which runs the country's top retailer Pantaloon Retail, is likely to hit the capital market by February or March 2011. The firm is looking to raise as much as Rs 750 crore and intends to use the proceeds to build, invest in or acquire businesses in consumption-led sectors.
Bharti AXA Eyes Stake Sale To Banks - The promoters of Bharti AXA insurance — Bharti Enterprises and AXA Asia Pacific Holdings — are looking to divest stakes in both life and non-life insurance companies to rope in a bancassurance entity as a third partner. Recently, Max New York Life sold 5% to Axis Bank for a strategic bancassurance tie-up of 10 years. (BS)
Reliance Brands To Make PE Investment - Reliance Brands Ltd, part of the diversified Reliance Industries Ltd, is set to activate its private equity (PE) role to invest in a fashion brand shortly even as the company is evaluating the prospect of launching its own range of luxury brands in the country by next year end or early 2012. Reliance Brands is close to making an investment as a PE player in a fashion brand, where it sees an opportunity to work together and expand its presence. (HinduBusinessLine)
Shriram Properties To Raise $100M - Shriram Properties plans to raise $100 million (Rs 452 crore) this year from private equity (PE) investors as it seeks to deepen its penetration in Southern India. The real estate arm of Shriram Group was planning an initial public offering (IPO) in 2010, has deferred its plans for a share sale for at least the next 12 months. (BS)
IDFC Foundation May Pick Up Stake In Husk - Infrastructure Development Finance Company (IDFC) plans to pick stakes in Patna-based Husk Power Systems that is into generating electricity for off-grid villages. The infra lender is studying the feasibility of this business before putting in any investment, which would be through IDFC Foundation. (ET)