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News Roundup: Qatar Air keen to buy stake in Indian carrier

14 January, 2013

Qatar Airways is interested in purchasing a stake in an Indian airline. Gulf carriers including Abu Dhabi’s Etihad Airways is already in talks with Jet and Kingfisher Airlines. Qatar Airways sold its 35% stake in Luxembourg’s Cargolux Airlines International to government for $117.5 million. (mydigitalfc.com)

Only three bids for ONGC’s coal-bed methane blocks: Only three companies have bid again for buying stake in Oil and Natural Gas Corporation ( ONGC)’s four coal-bed methane (CBM) blocks. UK-listed Great Eastern Energy Corporation (GEECL), Brisbane-based Dart Energy and a consortium of Jindal Steel and Deep Industries. Essar Energy, which had bid last time, has abstained. ONGC plans to farm out 35-45% stake in each of the four CBM blocks in Jharia and Bokaro in Jharkhand and North Karanpura and South Karanpura in Raniganj, West Bengal. 

 

Vishwaraj Sugar to launch IPO for raising up to Rs 374 cr: Vishwaraj Sugar Industries Ltd. plans to hit the capital market in February-March with initial public offer (IPO) to raise up to $81.60 million (INR 374 crore). The company had received the approval from market regulator SEBI for the proposed IPO. The company would use the proceeds of the IPO for expansion, which include doubling the cane crushing capacity to 11,000 tonnes per day (TCD) from the present 5,500 TCD. The company is also looking to raise a bank loan of $12.8 million (INR 70 crore) to meet the total expansion cost of $77.72 million (INR 425 crore). (Business Standard)

Lenders to Suzlon demand to raise equity of Rs 5,000 crore or sell Repower: Lenders to Suzlon Energy Ltd. are demanding that the company raise equity of $914.44 million (INR 5,000 crore) or sell its ‘crown jewel’ REpower before any loan restructuring as wary banks do not want a repeat of the Kingfisher fiasco. The company is in negotiations with its lenders on the CDR issue. Other than REpower, Suzlon had bought Belgian gear-box maker Hansen, which it later sold off to reduce debt. (The Economic Times)

Fortis Healthcare to raise $200 mn, appoints three bankers: Billionaire brothers Malvinder and Shivinder Singh, promoted Fortis Healthcare India Ltd. have appointed 3 investment banks Morgan Stanley, Standard Chartered Bank and Religare Capital Markets to help them pare stake in the company by selling shares to institutional investors as institutional placement program. The promoters are looking at reducing their stake to 75% to adhere to the Securities Exchange Board of India’s new listing guidelines, along with fresh issue of shares. The firm is looking to raise $200 million (INR 1,093 crore) through IPP. (The Economic Times)

Bank of Maharashtra is looking to raise funds: Bank of Maharashtra is planning to raise up to $36.57 million (INR 200 crore) as follow on public offer, or right issue or by way of placement of equity shares through qualified institutional placement in FY 2013-14. The company has received the board’s approval for the proposed fundraising. (BSE)

Courtesy: VCCEdge


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News Roundup: Qatar Air keen to buy stake in Indian carrier

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