NTPC Aims To Launch Follow On Offer in Feb - NTPC Ltd. aims to launch its follow-on public offering in February and has appointed J.P. Morgan India Pvt. Ltd., Kotak Mahindra Capital Co. Ltd., ICICI Securities Ltd. and Citigroup Global Markets India Pvt. Ltd. as bookrunners and lead managers for the share sale.(WSJ)
GMR Infra To Raise $150M In Power Unit - GMR Infrastructure, the infrastructure holding company of GMR Group, is in advanced talks with Singapore investment firm Temasek to raise $150 million by selling shares in its power unit. The equity sale in GMR Energy, a fully owned subsidiary, would be through a private placement. The group is also holding talks with US fund Carlyle and IDFC Private Equity, a unit of India's Infrastructure Development Finance Co for the same. (Reuters)
Patel Engineering To Acquire Water Treatment Firm – Mumbai-based Niche engineering, procurement and construction firm Patel Engineering Ltd is looking to enter the water treatment business, and is in discussions through a global consultant for its fourth acquisition overall. The firm, with an order book worth Rs10,000 crore over the next three years, is in talks with three overseas companies. Earlier, it has acquired companies for technology in the space of dam building and micro-tunnelling. (Mint)
Spice Fin To Buy Money Transfer Agent In Nepal - BK Modi Group-promoted Spice Finance is looking to acquire one of Nepal’s biggest money changer and transfer agent, Annapurna Finance, promoted by a local businessman, following the acquisition of 51% stake in domestic money changer and transfer agent Wall Street Finance. The target company had around 25% market share in the money changing and transfer business in Nepal and the deal size was likely to be Rs 40-50 crore. (BS)
Ruia Group Buys German Auto Sealing Maker - Ruia Group, which owns Dunlop Tyres in India, has acquired German sealing system maker Henniges Automotive, which had gone into liquidation in 2008. Ruia has taken over 60% Henniges' stake through a special purpose vehicle routed through a Mauritius-based investment company, Wealth Sea. The remaining 25% is held by German court appointed administrator for Henniges Wolf Von Der Fecht and 15% by existing director Juregen Hein. (Mint)
Parsvnath To Raise Rs 240Cr Via Stake Sale - Delhi-based realtor Parsvnath Developers plans to raise around Rs 240 crore by diluting its holdings to private equity funds in its various residential as well as commercial projects. The process is expected to be completed by the end of fiscal 2009-10. So far, Parsvnath has raised Rs 115 crore from Red Fort Capital in two tranches, Rs 168 crore from qualified institutional placement (QIP) and another Rs 75 crore from real estate private equity fund Sun-Apollo. (FE)
Om Infra Looks Acquisitions In EPC Space- Om Metal Infraprojects, the largest hydro-mechanical solutions provider for hydro projects, plans to acquire engineering, procurement and construction (EPC) players in hydro and thermal power sectors, as part of a diversification and forward integration strategy. The company plans to initially bid for EPC projects in these sectors with established players on a project-to-project basis and will also target acquisition of suitable players costing less than Rs 200 crore. (BS)
UBI Likely To Float IPO By Early February - United Bank of India (UBI) is likely to file a red herring prospectus with the Securities and Exchange Board of India next week for their initial public offer (IPO). The public sector lender hopes to come out with the IPO by end January or early February in 2010. The bank aims to mop up up to Rs 400 crore through the public issue, which will bring down the government’s stake in the bank to around 84%. (BS)
Atlas To Merge With Koosharem - Atlas Acquisition Holdings of the US will merge with the California-based temporary staffing company Koosharem in a transaction valued at $840 million. The combined entity would be rechristened Select Staffing. Atlas has agreed to merge with Koosharem that puts approximately 92,000 people on assignment every week at over 6,500 companies in the US. Dabur Group’s Gaurav Burman owns 5% stake in Atlas Acquisition Holdings. (ET)
The Loot To Offload 25% Stake – Mumbai-based discount retailer The Loot (India) is in talks with private equity investors to offload part of its stake. The Rs 70-crore company is open to divesting around 25% for funding its expansion plans. The move would be a pre-IPO dilution of not less than Rs 100 crore. (Hindu Business Line)
Innovation Lab in Kochi - Innovation Lab, an extension centre of Technopark TBI and Indian Telecom Innovation Hub (ITIH-TBI), will open its platform for young innovator today in Kochi. Technopark TBI will organize an interactive session, Technopreneur 2009, to create awareness on innovation, incubation and entrepreneurship. (HBL)
