Tata Sons Exec Forms Advisory - Alan Rosling, the former executive director at Tata Sons, the group holding firm, has formed an advisory firm called Griffin Growth Partners. The firm would help MNCs develop business strategies for India, and will be based out of Mumbai and Hong Kong. Rosling played a key role in Tata's overseas expansion and acquisitions of Jaguar & Land Rover and steel manufacturer Corus. (WSJ)

Shantha Founder may Sell Stake - Vara Prasad Reddy, the founder of Shantha Biotechnics who holds a 13.4% stake in firm, may sell his stake to the new owners. Sanofi Pasteur, a unit of French drug major Sanofi-Aventis, agreed to acquire Shantha yesterday at a valuaion of Euro 550 million. Sanofi has approached Reddy asking him to divest his full stake in Shantha. (Business Standard)

Adani Power Becomes First To Rope in Anchor Investors - Adani Power initial public offer (IPO) has roped in six anchor investors , who have picked up the entire portion reserved under the scheme for Rs 502 crore at Rs 95 per share. These investors are T Rowe Price, AIC, Ecofin, TPG (through CLSA), Legg Mason and Sundaram MF. (BS)

Intelligroup Looks For Acquisitions - Intelligroup Inc, a IT services provider, is pursuing acquisitions in the US and India, which have the right set of competencies in the business intelligence (BI), infrastructure management and testing space. The firm has earmarked $18 million for the buyouts. Intelligroup is an IT consulting, application management, support and implementation firm with its global delivery centres in Hyderabad and Bangalore. (BS)

Lesha Energy Acquires Gorlas - Ahmedabad-based Lesha Energy Resources Limited (LERL) has gained access to oil and gas fields in Cambay Basin through acquisition of Hyderabad-based Gorlas Oil and Gas Pvt. Ltd. Gorlas is a 100% holding company of Heramec Ltd. for Rs 15.43 crore. Bahamas-based Heramec Ltd. has 30% participating interest in oil & gas fields of Cambay basin. (BS)

Subhiksha CDR Terms Get Tougher - Troubled retailer Subhiksha’s bankers are looking to appoint an advisory board to keep a close tab on the company’s operations and a chief financial officer (CFO) to manage the finances. These terms will come as part of a corporate debt restructuring (CDR) package for Subhiksha. (BS)

SingTel May Buy More Stake in Bharti Airtel - Singapore Telecommunications may buy more shares in Bharti Airtel from MTN shareholders in order to maintain its equity stake in the Indian telco at a minimum level of 26%. Singtel has informed banks including DBS, in addition to its advisor Goldman Sachs, to raise funds to finance such an acquisition of shares. If Bharti-MTN transaction goes through, it could reduce SingTel’s stake from 30% to 19%. (Economic Times)

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