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News Roundup: Premji Invest Picks Up 7% In Fabindia

01 March, 2012

Premji Invest Picks Up 7% In Fabindia – Premji Invest, the investment fund owned by Wipro’s billionaire Chairman, Azim Premji, has acquired a 7% stake in Fabindia for Rs 100-125 crore, valuing the storied ethnic-wear company at over Rs 1,500 crore. Recently, L Capital, the private equity arm of the world’s largest luxury conglomerate LVMH Group, also bought 8% in Fabindia from Wolfensohn Capital Partners, in a secondary deal, for a similar amount. (Economic Times)

Bajaj Holdings Buys Stake In MCX – Rahul Bajaj-promoted Bajaj Holdings and Investment Ltd has picked a 3.06 per cent stake in the listing-bound Multi Commodity Exchange (MCX). In a notice to investors, MCX indicated Bajaj purchased 1.56 million MCX shares from Passport Capital LLC. The deal would lead to a change in the list of top 10 shareholders in the prospectus, the company added. (Business Standard)

Adani Buys HDIL Plot For Rs 900Cr – In one of the biggest property deals in the country in recent years, the real estate arm of Adani Enterprises (AEL) has bought a two-acre land parcel in Mumbai from property developer HDIL for Rs 900 crore. The plot is located at the city’s Andheri suburb. It was part of a large mixed-use project being developed by HDIL. (Business Standard)

BBVA Calls Off JV With Bank of Baroda – Spanish financial sector player Banco Bilbao Vizcaya Argentaria (BBVA) has called off plans to acquire a 51 per cent stake in BOB Cards, the card subsidiary of Bank of Baroda, citing a change in its business strategy. BBVA had signed a memorandum of understanding with the public sector lender in December 2010. (Business Standard)

Bharat Light Picks Up Stake In SunEdison Project – Bharat Light and Power has picked up stake in the 2.5-MW Gandhinagar rooftop project of SunEdison. The Gandhinagar grid-connected rooftop solar project is the first of its kind in the country – the owners of the roof and of the project are different. (Business Line)

Muthoot Finance NCD Issue Opens On March 2 – Muthoot Finance Ltd’s (MFL) public issue of secured, redeemable, non-convertible debentures (NCDs) of Rs 1,000 each will open for subscription on March 2. The company proposes to raise up to Rs 250 crore with an option to retain over subscription up to Rs 250 crore, aggregating a total of up to Rs 500 crore. (Business Line)


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News Roundup: Premji Invest Picks Up 7% In Fabindia

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