Quippo To Raise Rs 2,000Cr From Macquarie SBI, Others – Quippo Telecom Infrastructure is raising Rs 1,600-1,700 crore by selling stake in telecom tower company Wireless TT Info-Services or WTTIL. Around 15-16% is being sold in the company for Rs 2,000 crore, with the additional Rs 300-400 crore being a secondary sale by one of the existing shareholders. Three private equity companies, of which one is SBI Macquarie, will buy the stake in the tower company. (Economic Times)
Bhilwara Energy Plans Rs 1,200Cr IPO – Bhilwara Energy, part of the Rs 4,000-crore textile to metals LNJ Bhilwara group, has plans to list on stock exchanges through a public offer that could raise Rs 1,000-1,200 crore. Bhilwara plans new hydro power generation capacity of over 1,000 mw over the next four years. (ET)
TPG Miffed As Vishal Retail Promoter Supports Biyani’s Bid – Differences have cropped up between Vishal Retail and private equity major TPG Capital before the end of the three-week period of negotiations granted exclusively to the PE firm. TPG is upset with Vishal Retail’s promoter Ram Chandra Agarwal because he has written a letter to the lenders supporting a bid from Kishore Biyani’s Future Group even as TPG has been given till late August to come up with a revised proposal. (Mint)
GMR Airports To Buy parents Stake – GMR Airports Holding Ltd. is planning to raise approximately $100 million to buy out the holdings of its parent, GMR Infrastructure, in the airports business. Earlier, the company had entered into an agreement with Macquarie SBI Investment to raise close to $200 million by way of compulsorily convertible preference shares. The company would raise $100 million in, addition to the $200 million raised by the company, to increase its holding in the airport business. (Business Standard)
Unitech May Up Offer For Corporate Parks – Unitech Ltd is looking to sweeten the deal to buy the 94.5% stake in Unitech Corporate Parks Inc (UCP), which is listed on the Alternative Investment Market of the London Stock Exchange. The hiked offer could be 10-30% more than their last offer price of 31 pence/share. (DNA)
Monnet Ispat Close To Indonesia Buys – Monnet Ispat & Energy Ltd is close to clinching a coal asset deal in Indonesia. Monnet Ispat has a kitty of $100 million to invest in foreign mineral assets in the next two years. The company is also in talks with some companies in South Africa and is expected to announce its first coal mine acquisition abroad in 3-6 months. (DNA)
Future Venture To File DRHP – Future Venture India, the venture capital arm of Kishore Biyani’s Future Group, is planning to raise the funds through initial public offering (IPO). The company is planning to file DRHP with market regulator SEBI tomorrow. The funds would be used for expansion. (BS)
Denmark’s ISS Buys Out SDB Cisco – Danish facility services group ISS has added security services to its portfolio in India by acquiring 49% in Chennai-based SBD Cisco (India) Ltd for an undisclosed sum. The Rs 300-crore revenue SDB Cisco is a joint venture between Sicagen India and Certis Cisco of Singapore.