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News Roundup: Satyam Cineplexes To Raise Rs 50Cr From Private Equity

09 August, 2010

Satyam Cineplexes To Raise Rs 50Cr Private Equity –  New Delhi-based multiplex operator Satyam Cineplexes will raise Rs 50 crore through a fresh round of private equity (PE) funding by October to expand outside Delhi. Satyam plans to set up 70 new screens and investments will be made over 18 months. In 2009, it raised Rs 50 crore from IFCI as the first round of PE funding. (Financial Express)

Astro Buys 50% Stake in Getit – Malaysian investor Astro recently picked up 50% stake in New Delhi-based GETIT Infoservices for around Rs 100 crore. GETIT, which publishes Yellow Pages, buying guides and business directories in over 35 cities, sold a 10% stake to Helion Venture Partners for around Rs 20 crore. (FE)

SBI Caps Plans Rs 100Cr SME Fund – SBI Capital Markets Ltd, the investment advisory arm of State Bank of India, is planning to float a dedicated small and medium enterprises (SME) fund with an initial corpus of Rs 100 crore in the next one and half years. Small and medium enterprises in the country have not received much of interest from private equity players due to low capital base. (Business Standard)

SEIL Plans Rs 300Cr PE Fundraise – Steel Exchange India Limited (SEIL) is planning to invest about Rs 1,500 crore over the next five years to augment its steel production capacity to 1 million tonnes by 2015. Of the Rs 500 crore equity, about Rs 300 crore would be private equity while Rs 200 crore would be raised through internal accruals. (BS)

Atul Auto Scouts For Acquisitions – Rajkot based three-wheeler manufacturer Atul Auto Limited is planning to take the inorganic route to growth as it is scouting for an acquisition target as a part of its expansion plans. The company had earlier planned to start a new unit somewhere in Maharashtra or in the southern states. Atul will also invest around Rs 30 crore to more than double its Rajkot facility to 48,000 units per annum. (BS)

UK’s ADM To Buy Admisi Commodities – ADM Investor Services International (UK) has got the Foreign Investment Promotion Board’s (FIPB) nod to buy 100% in Admisi Commodities, a member of the local bourses and offers client-based and institutional broking business. ADM Investor Services International is a member of all the major commodity exchanges worldwide and an indirect subsidiary of ADM Company, one of the world’s largest physical commodity players. (Economic Times)

GVK To Raise Rs 1500Cr For Power Unit – GVK Power & Infrastructure Ltd., an Indian generator backed by T. Rowe Price Group Inc., plans to raise as much as Rs 1500 crore ($326 million) selling a stake in its energy unit to boost generating capacity. GVK plans to sell securities that can be converted into equity of its unit, GVK Energy Ltd. and is in talks with private equity firms for the sale. (Bloomberg)

USE To Offload 5-6% Stake – The United Stock Exchange, which is gearing-up to start trading in currency futures by next month, is in talks with three private banks to offload up to 6% stake. USE is in talks with three more banks for 5-6% combined offloading. Last month, the USE had sold a 1.33% stake to the country’s largest private sector lender ICICI Bank. (ET)

Shree Renuka Eyes More Acquisitions – The country’s largest sugar refiner Shree Renuka Sugars is looking for more acquisitions in Brazil, the world’s largest sugar producing nation. Shree Renuka is interested in acquisitions but nothing concrete has shaped up. Shree Renuka Sugars has bought out two companies in Brazil with a cumulative cane crushing capacity of 13.6 million tonnes per annum. (BS)

IPFonline Eyes Stake Sale To PEs – Chennai-based business-to-business publishing company IPFonline Ltd is looking for private equity investors. At present, IL&FS owns 44% of IPFonline, while HDFC holds 12% while the rest is held by its founder R.V. Pandit. IPFonline has Adventis Capital as its adviser. The private equity funding is expected to be at least Rs 15-20 crore higher than IPFonline’s enterprise value. (Telegraph)

Coromondel Buys Stake In Ponni – Coromandel Sugars, an associate company of the N Srinivasan promoted India Cements Group, has picked up an additional 5% stake in Ponni Sugars Erode in an off-market deal struck on Friday. Post acquisition, Coromandel Sugars stake in Ponni Sugars Erode has gone up to a tad lower than 7%, from close to 2%. (FE)


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1 Comment
no_gag . 6 years ago

Shocking that Astro has decided to invest in Getit Infomediary. consistently dipping revenue market shares and accumulated 45 crores of losses with bad products, inexperienced (in new media)leadership team and very high attrition. the ceo is narrated as a case study for destrying businesses from the past in india.

News Roundup: Satyam Cineplexes To Raise Rs 50Cr From Private Equity

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