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News Roundup: Rajeev Chandrasekhar Eyes Eenadu TV

15 December, 2011

Rajeev Chandrasekhar Eyes Eenadu TV – Rajeev Chandrasekhar’s Jupiter Capital may be in the fray for Eenadu TV, which is mulling a strategic merger or sale of its assets. Jupiter will firm up its interest once the Eenadu promoters decide on the final contours of a potential deal, whether they want to divest the entire broadcasting business or sell a part of it. Eenadu TV is the broadcasting unit of Ramoji Rao-controlled Ushodaya Enterprises in which Nimesh Kampani of JM Financial is a large minority investor. (Times of India)

Blackstone-backed Emcure Appeals Against Wind-Up Petition – Pune-based Emcure Pharmaceutical has appealed against the admission of a winding-up petition against the company filed by ICICI Bank before a single-judge bench of the Bombay High Court. The bank’s petition for winding up over non-payment of Rs 2.93 crore was admitted last week by justice SC Dharmadhikari. (Economic Times)

New Silk Route In Talks For VRL Stake – Asia-focused private equity firm New Silk Route (NSR), which offers growth capital to private companies, is looking at investing nearly Rs. 150 crore in Hubli-based VRL Logistics Ltd. NSR and VRL are in advanced talks and negotiating the valuation. In December last year, VRL had filed for an initial public offering with plans to issue 23.5 million shares. (Mint)

Aavishkaar, Tata Capital To Invest Rs 50Cr In Vortex – Tata Capital, a non-banking finance company, and Aavishkaar, a private equity firm, are picking up minority stakes in Vortex Engineering Ltd, maker of low-cost automated teller machines (ATMs). Both the companies were investing a total of Rs. 50 crore. A few months ago, the World Bank’s International Finance Corp. (IFC) wing committed to invest Rs 15 crore in the company.  (Mint)

DLF Close To Rs 900Cr Deal With Blackstone – DLF is close to signing a deal with private equity major Blackstone, as the country’s largest real estate developer by market capitalisation is planning to offload its entire stake in the special economic zone (SEZ) in Pune. DLF is targeting this deal for 2012, and industry sources say the announcement is likely to come within days. The deal size is pegged at around Rs 900 crore. (Business Standard)

C&C Constructions To Raise Rs 400-500Cr – Leading infrastructure company C&C Constructions is looking to raise about Rs 400-500 crore through sale of 30% stake in one of its subsidiaries, C&C Projects, to private equity investors. C&C Projects, the 100% owned subsidiary of the C&C Constructions, is engaged in road and highways sector projects. (Business Standard)

ICICI To Pare Stake In Firstsource To 10% – India’s biggest private lender ICICI Bank may have to cut its holding in Firstsource Solutions to comply with new norms announced by the Reserve Bank of India. ICICI Bank, which still controls 18.1% of the company’s equity, may have to pare its holding to 10% in line with the guidelines issued by the banking regulator late on Monday. (Economic Times)


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News Roundup: Rajeev Chandrasekhar Eyes Eenadu TV

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