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News Roundup: Runwal Group in talks with Siva for Mumbai mill property

27 June, 2012

Runwal Group In Talks With Siva For Mumbai Mill Property – Mumbai-based real estate developer Runwal Group is in advanced talks to purchase a 50% stake owned by serial entrepreneur C Sivasankaran, in the 6-acre plot Hindoostan Mills in Prabhadevi in Mumbai, a deal that would value the property at Rs 945 crore. The remaining 50% stake in the property is owned by Hubtown, earlier known as Ackruti City. (Financial Express)

Canadian Pension Fund In Talks To Invest In Srei Fund – The Ontario Teachers Pension Plan, one of the world’s largest pension funds, is in advanced talks to invest in the $1-billion ( Rs 5,700-crore) fund being raised by Srei Infrastructure Finance. The Canadian retirement fund, which manages assets of around Canadian $117 billion ($114.5 billion), will be one of the anchor investors in the Infrastructure Opportunities Fund. The fund is targeting its first close by August after originally proposing a March 2012 deadline. (Economic Times)

Ineda Systems To Raise $20M – Ineda Systems Private Limited, a Hyderabad-based fabless semiconductor start-up working on next-generation mobile computing platforms, is planning to raise $20 million in the next three to four months. It has started discussions with a bunch of investors, including venture capitals, private equities and individual investors. The company is hopeful of reaching a turnover of $200-300 million by 2015. (Business Standard)

Berggruen Holdings To Invest Rs 450Cr In Hotels Biz – Berggruen Hotels, a mid-market business hotel chain funded by US-based Berggruen Holdings, plans to double its room inventory and invest at least Rs 450 in new projects across the country. The company operates under the brand Keys Hotels. Currently it has 11 operational properties, and 12 more are in the pipeline. (Business Standard)

Harsha Viji To Head Sundaram MF – Harsha Viji, a fourth generation member of the TVS family, will take over as the Managing Director of Sundaram Mutual from July 1. He succeeds T.P. Raman, who is to retire on June 30, after serving the company for sixteen years at its helm. Post his retirement, Raman will continue to serve the company as its Non-Executive Director. (Business Line)

VKS Projects IPO Opens On Friday – Engineering procurement and construction company VKS Projects Ltd will enter the capital market with an initial public offering to raise Rs 55 crore through 100 per cent book building process. The company said in a release that the price band has been fixed at Rs 55 to Rs 60. The issue opens on June 29 and closes on July 4. The equity shares are proposed to be listed on the BSE and NSE. (Business Line)

Bhushan Steel, Monnet Ispat Revive Bids For Orissa Sponge – The takeover bids by three steelmakers to acquire Orissa Sponge have been revived after a three-year lull. Two Delhi-based steelmakers – Bhushan Steel & Power and Monnet Ispat & Energy – have indicated their intention to acquire up to 20% in Orissa Sponge to extend their manufacturing presence in the resource-rich eastern state. The bids were put on the backburner for three years after the issue was dragged to the court. (Economic Times)

AMD’s Venture Fund Eyes Indian Cloud Computing Firms – Computer processor maker Advanced Micro Devices (AMD) is planning to acquire three or four small and mid-sized companies engaged in cloud computing and specialised programme and software development. Besides planned acquisitions through a venture fund owned by AMD globally, the firm has enforced numerous structural changes to strengthen competitive positioning and improve financial performance both globally and in India. (Financial Express)


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News Roundup: Runwal Group in talks with Siva for Mumbai mill property

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