Rashtriya Chemicals and Fertilisers plans Rs 6,300Cr capex domestically; eyes mines in Canada: State-run Rashtriya Chemicals and Fertilisers (RCF) has lined up a capex of Rs 6,300 crore to be spent over the next five years to fuel its expansion and is also considering to invest in Canadian potash mines. “We have planned a capex of Rs 6,300 crore over the next five years for our capacity expansion plans,” company’s Chairman and Managing Director R G Rajan told reporters here. (Economic Times)
Parsvnath seeks shareholders’ nod to raise Rs 1,500Cr: Realty firm Parsvnath Developers has sought shareholders’ approval to raise up to Rs 1,500 crore through issue of equity shares or other securities to finance its projects and pare debt. The securities can be issued to public as well as institutional investors through various routes including public offer and Qualified Institutional Placement (QIP) of shares, as also issuance of convertible bonds or depository receipts to foreign investors. (Business Line)
Ybrant Digital plans to raise Rs 100Cr from Credit Suisse, ICICI Bank: Ybrant Digital, listed on the BSE recently through its acquisition of the listed entity LGS Global, will raise Rs 210 crore, including Rs 100 crore from Credit Suisse and ICICI Bank, through issue of shares to three firms to fund the future acquisitions. Experian, from which Ybrant acquired some online business, will get 1.18 crore shares with a face value of Rs 2 each, totalling Rs 110 crore in one or more tranches on the basis of preferential allotment. (Business Line)
HSBC may exit Karnataka Bank with sale of 4.46% stake: Global banking major HSBC is looking to offload its entire 4.46% stake in private sector lender Karnataka Bank, after having exited from three other Indian lenders — Axis Bank, Yes Bank and Federal Bank. HSBC had invested in all these banks as part of its investment portfolio and began selling these shares about three months ago. (Business Standard)
Plethico Pharma mandates Elara Capital for debt restructuring: Plethico Pharmaceuticals is believed to have mandated Elara Capital for restructuring its $75 million outstanding convertible bonds due in October. Elara Capital, has been mandated to restructure the outstanding foreign currency convertible bonds, due in October this year, according to market sources familiar with the situation. (Business Standard)
Leading Chinese companies eye greenfield projects in Gujarat: Four leading Chinese companies will visit Ahmedabad in September to explore investment opportunities in Gujarat. The companies- Wuxi Xinje Automation, Sunfar, Estun Automation and Zhejiang Chint Electric Co-are eyeing investments in greenfield projects and partnerships in Gujarat. (Times Of India)
Moolchand seeks pan-India presence: Moolchand Hospital — is now set to go places. Moolchand Healthcare Pvt Ltd, the corporate entity formed by the group in 2006 with expansion in mind, is on an acquisition spree for hospital chains, IVF (in vitro fertilisation) clinics and pathological laboratories. The company plans to spend Rs 500 crore over the next five years for expansion and acquisitions. It has also roped in private equity player Sequoia Capital to fund the expansion. (Business Standard)
Online grocery stores draw investor interest: After BigBasket, another online grocery retailer, MyGrahak, is scouting for private equity (PE) investment to fund its expansion plans. The ‘e-tailing’ company, which operates in the National Capital Region, said it would need about Rs 150-200 crore for expansion in the next three years. It is in talks with a few PE players to raise about $10 million (Rs 50-60 crore) in the next six months. (Business Standard)
Helion Venture Partners in talks to sell stake in Amba Research: Helion Venture Partners, India’s largest domestic venture capital firm with assets of $605 million under management, is in talks to sell its stake in investment research outsourcing firm Amba Research. Word on the street is that the venture capital firm has been holding talks with multiple parties as it looks to exit the company. Helion’s exact stake in the New York and Bangalore-based firm could not be ascertained. Helion and Amba Research declined to comment. (Economic Times)
Baring Private Equity Partners, Aditya Birla Private Equity eye 20% stake in Anu Solar Power: Baring Private Equity Partners and Aditya Birla Private Equity are in the running to buy a 20 per cent stake in Anu Solar Power in a transaction which could value the Bangalore-based company at Rs 500 crore. The deal to invest Rs 100 crore is expected to close by the end of September, a person with direct knowledge of the negotiations said. Anu Solar Power, which makes solar inverters, water heaters and provides off-grid power solutions, reported revenue of Rs 60 crore in the financial year 2011-12. Advisory firm Ernst & Young is the lead arranger. (Economic Times)
Inno Group to raise new fund for Chennai housing project: Investment group Inno Group Holdings Ltd is raising a new, fifth fund to develop a housing project near Chennai, after investing around $65 million (around Rs.362 crore today) so far in hotel and housing projects in India. The new Rs.150 crore fund will be raised from overseas investors, mostly high networth individuals (HNIs) in Belgium. The firm, which has separate investment, real estate and advisory units, has a capital commitment of about $200 million from its investors. ()
TPG weighs options to exit Shriram Transport Finance: TPG, the private equity with $51 billion in investments across the globe, could sell its 20 per cent stake in Shriram Transport Finance Corp (STFC) valued at nearly Rs 2,800 crore in negotiated deals as a strategic buyer remains elusive in a depressed market. The US fund, which has been looking to sell its stake for more than a year, will end up with a 20 per cent stake in the listed entity after the merger of other unlisted group company Shriram Transport Finance Holding Ltd. (Economic Times)
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