Shriram Equipment Finance Company (SEFC) is planning to raise about Rs 150-200 crore ($24.5 million - $37 million) from private equity (PE) investors and rope in strategic investors. SEFC is a subsidiary of Shriram Transport Finance Corporation, which has an asset base of about Rs 56,000 crore. A total of 23 PE investors have invested about $750 million in various Shriram Group companies; the group has the highest PE participation in India. Major investors include Citi Group, ICICI Bank, Axis Bank, Frontline Strategy Group, Reliance Capital, Chrys Capitol, Blue Ridge Ltd. Tiger Global Management, JM Finance, Merrill Lynch, Cambridge, Bessemer Venture Partners, ICICI Venture, Asia Bridge, TPG Texas pacific Group and Walton Street. (Business Standard)

IVRCL looks to raise Rs 1,200 crore: IVRCL Ltd seeks to raise up to Rs 1,200 crore ($196 million) to augment working capital requirements and infuse capital into new projects. The Hyderabad-based construction and infrastructure company has enlisted the services of SBI Caps to facilitate fund-raising, according to people in the know of the development. The company, which has already divested stakes in three road projects to Tata Realty and Infrastructure Ltd (TRIL), looks to divest stake in its Chennai desalination project and Jalandhar highway project. It recently secured approvals for divestment in three road projects to TRIL from the National Highways Authority of India and nod from the Income Tax Department. (Business Line) 

Adani Ports named consultant to Dhamra Port ahead of acquisition: Adani Ports and Special Economic Zone Ltd (APSEZ), which is set to buy Dhamra Port Co. Ltd for Rs 5,000 crore ($816 million), has been appointed as a management consultant to Dhamra Port, an equal joint venture of Larsen and Toubro Ltd (L&T) and Tata Steel Ltd, according to two people close to the development. Citibank NA is advising Dhamra Port on potential stake sale and a deal would be concluded shortly. Both requested anonymity. (Live Mint) 

Courtesy: VCCEdge 

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