Premji Invest Enters Fray For IOT Infrastructure – Premji Invest, the investment arm of Wipro Limited’s billionaire chairman Azim Premji, is understood to have shown interest to pick up stake in IOT Infrastructure & Energy Services Limited. Formerly Indian Oiltanking Limited, IOT Infrastructure is an equal joint venture between Indian Oil Corporation and Oiltanking Gmbh of Germany. The company is in the market to raise Rs 400 crore and according to private equity industry players, UTI Infrastructure has been almost firmed as the lead investor. Premji Invest is understood to have shown interest to co-invest around Rs 150 crore in this deal. Premji Invest will be in race for this deal along with other PE investors such as TA Associates, Olympus Capital, IDFC Private Equity among others. (Business Standard)
Bharti Looks To Buy Vodafone’s Indirect Stake In Airtel – Vodafone may be in a hurry to sell its 4.39% stake indirect stake in Bharti Airtel which is valued at $1.4 billion at the current market price. However, Bharti may buyout the stake along with a financial partner or a private equity player. British telecom major Vodafone Plc is seeking to exit all minority investments globally by 2013 and focus on the majority stake it holds across companies. (Moneycontrol)
ITC Eyes Century’s Paper Biz – Multi-business conglomerate ITC has set its sights on the paper and pulp business of B K Birla-promoted Century Textiles. The Kolkata-based company is said to have carried out due diligence for Century’s Nainital paper unit. The deal, if it goes through, is expected to be valued at over Rs 3,000 crore, going by the valuation of the Andhra Pradeh Paper Mill of Rs 1 lakh per tonne. The recent acquisition of Andhra Pradesh Paper Mill by world’s largest paper firm International Paper has set the undervalued Indian paper industry on a roll and the sector is poised for mergers and acquisitions. (Times of India)
ONGC To Sell 30% Stake In KG Block – Nearly four months after Reliance Industries Limited (RIL) signed a deal with British Petroleum (BP) for getting BP’s technology for deep-sea exploration, state-run Oil and Natural Gas Corporation (ONGC) is in talks with BG Exploration and Production, India, and Italian exploration and production major, ENI, to sell up to 30 per cent stake in its Krishna-Godavari DWN 98/2 block. Cairn India is already a 10 per cent partner in the block. The block is right next to the KG-D6 block of RIL in the K-G basin, off the east coast. (Business Standard)
GVK To Raise $1.2B Debt For Australia Buys – GVK Power, a unit of infrastructure major GVK Group, is raising $1.2 billion as debt to part fund its acquisition of Hancock mines in Australia. The Hyderabad-based GVK Power has roped in ICICI Bank for syndicating the $1.2 -billion loan and is likely to close the final transaction, estimated to cost about $3.4 billion. The Reddy family-owned GVK Power has been in talks with financial investors such as Standard Chartered and ICICI Bank as well as private equity majors 3i, Actis and Macquaire to raise about $1.5 billion (about Rs 6,800 crore) for acquiring Australia’s Hancock Coal. (Economic Times)
Morgan Stanley, Baring To Buy 20% In Century Real Estate – Bangalore-based builder, Century Real Estate Holdings, is in talks with Morgan Stanley and Baring Private Equity Partners for a 20% stake dilution that would help it raise Rs 700 crore as it looks to ramp up property development. The structured deal will include private placement of non-convertible debentures (NCDs) and equity. The company will use the funds raised as growth capital for pre-development of its land bank and for construction of 3-4 integrated townships near Bangalore. (Economic Times)
Shriram Transport To Raise Rs 1,000Cr NCD Issue – Shriram Transport Finance, one of the largest non-banking finance companies in the country, will raise Rs 500 crore through debentures with a greenshoe option of Rs 500 crore. The tenure of the bond will be 3-5 years. This is the third such issue Shriram Transport has come up with in the past three years. In May 2010, it had raised Rs 500 crore through debentures with a coupon rate of 10.5%, and Rs 1,000 crore in 2009. (Economic Times)
Vasan Healthcare To Raise $150M – Vasan Healthcare Pvt. Ltd., a Tamil Nadu-based chain of outpatient hospitals best known for its eye-care centers, is looking to raise $150 million through private equity investors to finance 35 eye-care hospitals and 13 dental clinics in 11 states, ahead of a likely initial public offering next year. The decade-old hospital operator could see its revenue for the year ending December 2011 double over the previous year to Rs 1,000 crore. Vasan Healthcare’s announcement comes three years after venture capital fund Sequoia Capital began its $50 million investment in the company. (Wall Street Journal)
SRS To Launch Rs 225Cr Issue Next Month – Faridabad-based SRS Ltd, which has interests in cinema exhibition, retail and food courts, today said it will launch an initial public offer to raise up to Rs 225 crore by next month. The company will issue around 3.5 crore equity shares under the IPO, through which the promoters will dilute 25.13 per cent stake.The IPO proceeds will be utilised to increase the number of cinema exhibition screens, retail stores, jewellery stores and food courts currently operated by SRS in North India. (Business Line)
Lanco To Hive-Off Power Unit – Diversified infrastructure and construction firm Lanco Infratech has decided to hive off its power business and list it separately on the bourses. The process is expected to be completed by the end of 2013. The company also plans to later hive off its other verticals like EPC, solar, natural resources and infrastructure. Lanco is the largest private power producer in India with an installed power generation capacity of 3,300 mw. (Financial Express)
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