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News Roundup: Novartis Venture Funds Eyes India Deals

03 November, 2009

Religare Labs In A Rs 200 Cr IPO – Diagnostic chain Super Religare Laboratories, owned by former promoters of Ranbaxy Labs, is planning to dilute 15-20% stake to raise Rs 200 crore through an initial public offer (IPO). The company has a valuation of Rs 1,000 crore and is in talks for a pre-IPO round. The firm was last year in talks for a PE round with ICICI Venture, Yes Bank, GM Financial and Standard Chartered, which was put on hold. SRL plans to invest Rs 300 crore towards its expansion plans in next 18 months. (Economic Times)

Jaypee Infratech Plans IPO – Jaypee Infratech, a subsidiary of infrastructure firm Jaiprakash Associates, is planning to raise Rs 2,500-3,000 crore through an issue. The firm plans to dilute around a 10-15% stake at a valuation of Rs 20,000-25,000 crore. Last year ICICI Bank picked up 1% stake for Rs 250 crore in Jaypee Infratech, valuing the expressway builder at Rs 25,000 crore. Jaypee Infra has appointed JP Morgan, Enam Financial and DSP Merrill Lynch-Bank of America as the investment bankers. (ET)

Karuturi To Raise Rs 1,150 crore – India’s largest rose exporter is planning to raise Rs 1,150 crore through a mix of debt and equity by end of the next fiscal year. Karuturi Global plans to expand its agriculture export business from the fields of Ethiopia. The company recently raised Rs 480 crore. The firm is also exploring a GDR on the Kenyan or the Johannesburg exchanges to raise the equity part of the Rs 1,150 crore. (Business Standard)

Novartis Venture Funds Eyes India Deals – The corporate backed VC firms is looking to invest in Indian life-science companies. But the corporate biotech-venture investor has around $800 million under management and invested in about 70 companies across the US and Europe. Novartis is now looking for local partners in India and is willing to invest in companies with a strong track-record and the management team has experience of getting drugs approved. (Business Line)

Srei Plans $1 bn Offshore Fund – Srei Infrastructure Finance is planning to raise an overseas fund with a corpus of $500 million-$1 billion under Srei Venture Capital Ltd. The funds will be used to invest in domestic infrastructure projects. Srei is open for partners for the new fund. (DNA)

CCD To Invest Rs 150 crore – Café Coffee Day (CCD) is planning to invest around Rs 150 crore this financial year to open another 150 outlets. The 13-year old retail coffee restaurant chain plans to go for a total of 1,000 outlets and is also going in for a major facelift with a new logo. It’s also looking to add 100-200 employees every month. (BS)

Eicher To Partner Swedish Firm – Eicher Motors has said that its subsidiary company VE Commercial Vehicles (VECV) is planning to enter into a joint venture with Swedish firm Vinn Group AB in the field of Engineering Design Services. Vinn is a JV between Vinn Group and Volvo Technology Transfer AB, a wholly owned subsidiary of AB Volvo. (HBL)

Magma Fincorp To Raise Rs 2,000 Cr Debt – Magma Fincorp is planning to raise Rs 2,000 crore through debt instruments in the next six months through bank loans, debentures, bonds and securatised papers. The firm reported a 39% rise in net profit for the quarter ended September 2009 at Rs 15.75 crore. (BS)


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News Roundup: Novartis Venture Funds Eyes India Deals

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