Reliance To Invest Rs 1,500Cr In Network18 Group – Reliance Industries is embarking on a major diversification into the media and entertainment sector with the Mukesh Ambani firm agreeing to fund a transaction that will result in a sizeable stake for itself in a company controlling two of the industry’s largest businesses, the Network18 Group and the Eenadu Group of channels run by the Hyderabad-based Ramoji Rao. Transaction is estimated it to be more than Rs 1,500 crore. The full amount expected to be raised through the rights issues is estimated at over Rs 3,500 crore. (Economic Times)
JP Morgan Invests Rs 100Cr In Leap Green Energy – JP Morgan Asset Management has recently invested Rs 100 crore in Leap Green Energy Pvt Ltd, a company promoted by India’s ace motor racer Narain Karthikeyan’s family. Leap Green owns installed capacity of 100 MW of wind assets, which is to be doubled in the current year. Leap Green’s Web site says that the company its “portfolio includes wind, solar and hydel projects” which are at various stages of completion. (Business Line)
Kotak Realty Raising $350M Offshore Fund – Kotak Realty Fund plans to raise $350 million, or about Rs 1,866 crore, through a foreign real estate fund that will invest primarily in residential projects. This follows a series of successful exits from projects over the last one year, when it registered return on investments-or IRR, or internal rate of returns-of 32% in exits worth $240 million, or about Rs 1,280 crore. (Economic Times)
Abu Dhabi Eyes India Investments – The Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds with an investible amount of $700 billion, is keen to invest in India’s infrastructure sector and wants to build a strategic partnership with New Delhi. ADIA has withdrawn some of its investments from Europe due to the Eurozone debt crisis and diverted some of the investments to South-east Asian countries. ADIA has a 12% stake in Infrastructure Leasing and Financial Services Company (IL&FS), but it wants to diversify given the opportunities in the Indian infrastructure sector. (Times of India)
Govt Nears Rs 50K Infra Fund – The government has finalized the contours of a $10-billion (over Rs 50,000 crore) infrastructure debt fund (IDF) with 50% participation from a foreign bank and a multilateral agency, while the rest of the corpus will be contributed by state-owned financial institutions. Government officials and bankers said India Infrastructure Finance Company (IIFCL), Life Insurance Corporation and IDBI Bank along with Asian Development Bank and HSBC are joining hands to set up a non-banking finance company (NBFC) that will manage the fund. (Times of India)
China’s HNA Interested In DLF’s Aman Resorts – China-based conglomerate, HNA, has joined the race to buy Aman Resorts, the biggest non-core asset of realty major DLF. The 68 billion-RMB group, which is into airlines, hotels, airport management, real estate, retail and tourism, is learnt to have offered above Rs 2,000 crore for the resorts. The bid amounts received from others, including Malaysian sovereign wealth fund Khazanah, luxury fashion group Louis Vuitton and Kingdom Holdings, which owns the five-star hotel chain Four Seasons, were in the range of Rs 1,800 crore to 2,000 crore. (Business Standard)
Deccan Cargo Lenders Rejig Debt – Deccan Cargo & Express Logistics, promoted by low-cost air travel pioneer Captain G. R. Gopinath, has been referred to the corporate debt restructuring cell to nurse it back to health. Axis Bank, State Bank of India and Syndicate Bank want the express transportation and logistics company restructured, as their exposure, aggregating Rs 538 crore, is at stake. The company totted up losses of Rs 318.68 crore in the financial year ending March 31, 2011. (Business Line)
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