Sequoia India, among the top private equity (PE) and venture capital funds, is looking to invest about $25 million (Rs 135 crore) in Cholayil, the Chennai-based company best known for its ayurvedic range of soaps, Medimix. In a transaction attracting a good amount of interest from PE and strategic investors, Cholayil is understood to be in the process of taking on board investors likely to add high value to its growth. The fresh funding will be in an arm of Cholayil which has marketing rights for the Medimix range and for Cuticura talcum powder outside South Indian markets. The Cholayil Group formed two separate companies in 2006, one which has marketing rights for South India and the other for the rest. (Business Standard)
TCG veteran to launch two PE funds in hotels & realty, films: Bani Banerjee, who quit as executive director and chief investment officer of The Chatterjee Group Real Estate in mid-2012, after a 17-year stint with the company, is set to launch two private equity funds. One is a INR 1,060 crore ($298.75 million) special situations fund to invest in the hotels and real estate sectors. The other is a INR 200 crore ($37.34 million) film and entertainment fund. The special situations fund would be a deal-specific platform. The real estate and hotel fund would have deal sizes ranging from INR 53.5 crore to INR 107 crore. (Business Standard)
JLR to raise over INR 2,100 cr via issue of bonds: Tata Motors-owned Jaguar Land Rover is looking to raise $400 million (INR 2,100 crore) through issue of bonds to support its operational costs and future growth plans. Jaguar Land Rover Automotive Plc, the parent company of the Jaguar Land Rover group of companies and a subsidiary of Tata Motors Ltd, announces the offer of $400 million Senior Notes due 2023. The notes will be guaranteed on a "senior unsecured basis" by Jaguar Land Rover, Land Rover, Jaguar Land Rover North America, Land Rover Exports and Jaguar Land Rover Exports. The net proceeds from the issuance and sale of the Notes will be used for general corporate purposes, including supporting Jaguar Land Rover's ongoing growth and capital spending plans. (BSE)
Jaypee Infratech drops ahead of OFS by promoter: Jaiprakash Associates, the promoters of Jaypee Infratech, has proposed to sell 27.86 million equity shares of the company via offer-for-sale (OFS). Jaiprakash Associates has proposed to sell 26.86 million equity shares of face value of Rs 10 each of Jaypee Infratech on January 24, 2013 through a sale on the separate window provided by the stock exchanges for this purpose. Further, the company has also kept the option of selling up to 70.62 million additional shares of Jaypee Infratech. (BSE)
Rashtriya Chemicals follow-on offer may be advanced to March: The government will likely advance a sale of shares in state-run Rashtriya Chemicals and Fertilizers Ltd (RCF) to middle March, scheduling it for the current fiscal rather than the next. The government has speeded up decision-making and shortlisted lead managers for the follow-on offer of a 12.5% stake that’s likely to raise INR 350 crore ($65.35 million) at the current stock price. IDBI Capital Ltd and ICICI Securities Ltd have been chosen as the lead managers. (Live Mint)
NABARD plans to raise INR 2 bn via bonds: National Bank for Agriculture and Rural Development (NABARD) is looking to raise INR 2 billion ($37.2 million) through one-year one-day bonds at 8.65%. Darashaw and ING Bank are the arrangers for the bond sale.
HDFC plans to raise INR 5 bn via bonds: Housing Development Finance Corp. Ltd. (HDFC) is looking to raise INR 5 billion ($92.91 million) through one-year one-day bonds at 9.05%. The base size of the issue is INR 2.5 billion and Standard Chartered is the sole arranger for the bond sale. a
Tata Steel to raise 10 billion rupees via dual tranche bonds: Tata Steel Ltd. is planning to raise INR 10 billion ($185.82 million) through a dual tranche bond sale. The company would issue six-year and eight-year bonds at 9.15%. The issue is rated AA+ by Care and Brickworks and is scheduled to open and close on Thursday. Yes Bank is the sole arranger to the bond sale.