Power Finance Corp to raise Rs 2000 crore via CPs: Power Finance Corp Ltd plans to raise Rs 2000 crore in short-term funds through one-year commercial papers, two sources with direct knowledge of the deal said on Monday. The CPs would pay a coupon of 9.14 percent, the sources said, adding the value date for the deal would be September 7. LKP Securities and Trust Capital are the two arrangers to the deal. ()
Sun nears Deccan Chargers buy: The Chennai-based Sun Group, promoter of Sun TV and SpiceJet, has entered the race for Deccan Chargers, the IPL team owned by the financially-troubled Deccan Chronicle Group. Both Deccan and Sun remain tight-lipped about a possible deal, but sources said Sun was in the ‘final stages’ of discussions to buy the entire Deccan Chronicle stake in Deccan Chargers Sporting Ventures, the entity that runs the IPL franchise. (The Financial Express)
Piramal eyes Ind-Swift facilities in Rs 1k-cr deal: The deal street is abuzz with talk of another transaction in the pharma space. Mumbai-based Piramal Healthcare is in talks with the Chandigarh-headquartered Ind-Swift Laboratories to acquire its contract research and manufacturing business and many of its facilities approved by the US Food and Drugs Administration (US FDA), sources say. The deal, under negotiation, is valued at Rs 1,000-1,200 crore, at least two persons close to the development have told Business Standard. (Business Standard)
United Spirits close to 49% stake sale in Whyte & Mackay: Nearly six months after he put the stake sale process of Whyte & Mackay on the fast track to find a solution to United Spirits’ high leverage, UB Group Chairman Vijay Mallya is understood to be nearing a deal to offload 49 per cent stake in the flagship subsidiary. United Spirits Ltd (USL), which has 55 per cent market share in the Indian spirits market, had acquired the Scotland-based whisky major Whyte & Mackay in a highly leveraged $1.2-billion deal in 2007. (Business Standard)
Tech Mahindra to announce strategic move today: Tech Mahindra on Tuesday is set to announce a strategic move. According to the buzz in the market, Tech Mahindra could seal a deal to acquire BPO services firm Hutchison Global Services for about $100 million. A section of the media has reported that investment bankers Kotak Investment Banking and Goldman Sachs were the advisors to the Tech-Mahindra-Hutch deal. (Business Line)
DHL to trim Blue Dart stake from 81% to comply with Sebi norms: Deutsche Post DHL today said will bring down its stake in Blue Dart Express, held through its subsidiary DHL Express Singapore, to comply with minimum public shareholding requirements. Deutsche Post DHL currently holds 81 percent in the Mumbai-based express logistic firm, a DHL Express India official said when contacted, but did not reveal when and how they will achieve the objective (Business Line)
DM Healthcare to invest Rs 1,500 crore in India: New hospitals and acquisitions in India may help raise the revenue of Dubai-based DM Healthcare Pvt. Ltd by 40% to Rs. 2,300 crore in the year to March, up from Rs. 1,650 last fiscal. “We want to have 5,000 beds in India by 2017 (under ownership and management),” chairman Azad Moopen said in an interview. “I am being told by our private equity (PE) partners that if we want to do acquisitions, funding is not an issue.” (LiveMint)
Seven Hills Healthcare in talks for equity funding: Seven Hills Healthcare Pvt. Ltd which operates Asia’s largest private hospital in Mumbai, is looking to raise as much as Rs. 300 crore by selling shares to fund its working capital requirements. “The company is looking to raise Rs. 250 crore to Rs. 300 crore in equity funding in exchange for a significant minority stake,” said a person who declined to be named as he is directly involved in the matter. (LiveMint)
Prime India to launch electronic health cards: Prime India Healthcare Pvt Ltd, a medical tourism and healthcare recruitment company based in Chennai, is planning to launch electronic health cards in the country to store patient record. The company is also in talks with private equity players for raising funds through stake dilution. “We have plans to dilute 15-20 per cent stake to raise around Rs 2 crore for capex and opex,” said V Vinod Sharma, mentor of the company. (Business Standard)
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