NTT DoCoMo To Invests $1B In Tata Tele – Japan’s NTT DoCoMo is likely to invest an additional $1 billion in Tata Teleservices for an additional 10-15% stake. Tata Group companies could also sell a part of their holding through a secondary deal. The deal is likely to be finalised before the end of the year and will see DoCoMo’s stake rising to 35-40%. (Economic Times)
Olive Telecom In Talks With PE Firms – Olive Telecom, a new player in the handsets market, will soon rope in private equity investments into the company. Olive had a turnover of Rs 550 crore in 2009-10 and expects to sign a deal by the year end for a minority stake. The company targeted to become a Rs 5,000-crore company by 2012 when it expanded its presence to 50 countries and 100 operators. (Hindu Business Line)
Educomp Buys Majority Stake in Vidyamandir – Education services provider Educomp Solutions has picked up a majority stake in Delhi-based engineering test preparation company Vidya Mandir Classes for about Rs 34 crore. The move is to strengthen its presence in the $1.7 billion test prep segment in the country. (ET)
Hindustan Motors May Sell Avtec Stake – CK Birla’s Hindustan Motors, the oldest car manufacturer in India, is planning to sell stake in Avtec Ltd, a JV with PE firm Actis and infusion of fresh capital in the ailing firm. HM holds 49% stake in the auto component firm with Actis holding 30% and the remaining 21% is with different C K Birla group firms. Avtec has three facilities in Pitampur, Hosur and Kharagpur. (Times of India)
Candian Fund May Buy GMR Stake In InterGen – Ontario Teachers’ Pension Plan (OTPP) has offered to buy GMR Infrastructure out of InterGen for about $1 billion. While GMR Infra owns 50% in InterGen, OTPP holds the rest. In October 2008, GMR Infra had acquired the stake in InterGen from AIG Highstar Capital II, L P and affiliates for $1.1 billion. (Business Standard)
WL Ross Eyes Quippo Stake – WL Ross & Co is close to acquiring a minority stake in Wireless TT Info Services (WTTIL) from one of the existing shareholders. Quippo has 46% stake in WTTIL. It is believed that Quippo is looking at selling 15 to 20% of its holding in WTTIL. Apart from WL Ross, SBI Macquarie, a private equity fund, is also believed to be interested. (BS)
Korean Firm Eyes Mudra Lifestyle – Mudra Lifestyle Ltd. is planning to raise approximately $65.11 millionby selling majority stake. A Korean company is already in talks for buying 51% stake in the company. Pricewaterhouse Coopers is likely to advise Mudra Lifestyle on the deal. (Moneycontrol)
M&M Eyes Scooters India – Domestic auto major Mahindra & Mahindra Ltd. is planning to acquire 74% controlling stake in the sick public sector company Scooters India Ltd (SIL). Mahindra recently bought out Kinetic’s two-wheeler business assets. (HBL)
Hanung Toys May Dilute 10-15% Stake – Hanung Toys & Textile Ltd. is planning to raise funds by diluting 10-15% promoter’s stake in the company this fiscal. The company may raise funds within one to two months. The funds would be used for expansion.
Stega Capital To Raise $50M – Former managing director of Lightspeed Venture Partners Sreenivasulu Vudayagiri and former chief executive of India Innovation Fund K Ganapathy Subramanian are coming together to launch a new fund, Stega Capital. The duo are in talks with banks and large investors to raise $50 million. The fund will invest across sectors such as technology, mobile and healthcare in the range of $50,0000 to $1 million. (ET)
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