Speciality Restaurants Eyes Rs 100 Cr Acquisition - Speciality Restaurants Private Ltd, which runs restaurant chains like Mainland China, Sigree, Oh! Calcutta, Machan and Flame and Grill, is planning to dilute its equity by up to 30% to raise money for its expansion. The company plans to raise atleast Rs 150 crore, and is planning to acquire a restaurant chain in South India, which would cost around Rs 100 crore. It plans to expand its flagship brand ‘Mainland China’ to over 100 outlets in the next two years from the present 32.The company is also planning an initial public offer (IPO) in the next 24-36 months. (BS)

Milestone To Set Up Clean Tech PE Fund - Milestone Group’s real estate consulting arm, Milestone Ecofirst Advisory Services, plans to set up a clean technology private equity (PE) fund to help real estate projects achieve self sufficiency in water and waste disposal management. The corpus of the fund is targeted at around $100 million (close to Rs 500 crore) and the fund would be raised by the middle of 2010. It will largely invest in clean technologies for residential, hotel, educational and hospital projects. (FC)

Azad Moopen To Invest Rs 1K Cr In India - Gulf-based healthcare tycoon Azad Moopen is investing over Rs 1,000 crore ($200 million) for setting up hospitals and eye-care centres across India, including his home state of Kerala. His India venture Malabar Institute of Medical Sciences has already started a project called Medicity across 40 acres of land in Kochi with a proposed investment of Rs 500 crore ($100 million), and is scheduled to be completed in three years. ()

QVT Considers Filing Winding Up Petitions Against Wockhardt - US-based investor fund QVT Advisers is understood to be considering filing winding up petitions in the US, the UK and other countries against the Wockhardt group following the default in redemption of FCCB payments by the Indian firm. The fund, which has already filed a winding up petition in the Bombay High Court, will soon approach the courts in other countries with similar petitions. Under the CDR programme, Wockhardt had offered to settle repayment of $110-million foreign currency convertible bonds (FCCB), issued by it in 2004, at a discount. (ET)

Ministry Mulls Special SAIL Arm For Overseas Buys - The steel ministry of India is planning to set up a special arm under SAIL to spearhead overseas acquisitions, particularly in the mining sector. The move comes in the wake of the existing special purpose vehicle, International Coal Ventures Ltd (ICVL), which is a joint venture between SAIL, NMDC, RINL, NTPC and Coal India, failing to make much headway in procuring coal assets abroad during the past two years. The proposal to create SAIL Videsh as a subsidiary of the steel major is being examined in the Steel Ministry. (ET)

Two PE Funds May Invest $200M In MSM India - Two private equity (PE) players, Standard Chartered Private Equity and Providence Equity Promoters, may jointly invest $200 million in Multi Screen Media (MSM) India, earlier known as Sony Entertainment Television (SET) India. The deal includes a buyout of 32% held by Bollywood actor Jackie Shroff and three others, and infusion of funds as fresh equity. Sony’s US-based parent, which holds 61% in MSM, will also bring in funds. (FC)

Edserv Softsystems To Raise Upto $500M - Edserv Softsystems Ltd, a Chennai-based education company which was listed earlier in 2009, plans to raise up to $500 million from the capital market. The company plans to raise the fund through the Issue of ADR, GDR and FCCBs, said a company filing in the stock exchange. In October last year, it has acquired online education portal, an online test preparation firm offering audio and video contents. (Team VCC)

NTPC To Divest 5% Stake To Raise Rs 11,000Cr - The government plans to raise around Rs 11,000 crore by divesting 5% stake in NTPC, making it the second largest public offer in the financial year 2009-10. The issue will be launched in the first week of February, and the prospectus with Sebi will be filed this week. After NTPC, the government will divest around 8.3% stake in National Mineral Development Corporation (NMDC) to raise around Rs 14,000 crore. This issue is likely to hit the market in the second week of March 2010. (TOI)

Essar Mulls Stake Purchase In Zambian Refinery - India’s Essar Group plans to acquire a majority stake in Zambia’s state-owned Indeni Refinery, which has a capacity to refine around 1 million tonnes per annum (mtpa) of crude. It plans to enter the fuel retailing business in Zambia and supply petroleum products to countries in the vicinity by acquiring the refinery. South Africa’s Sasol Ltd is among the companies vying for the same stake. Total SA of France had a 50% stake in the refinery which was recently acquired by the Zambian government. (Mint

MBL Infra Lists At 5.55% Premium Today - MBL Infrastructure, which raised about Rs 102.6 crore through its initial public offer (IPO), debuted on the BSE today at Rs 190 a share, or a premium of 5.55% over the issue price of Rs 180. At 09:01 am, shares in MBL Infra were trading 15.66% up at Rs 208.20. The firm will invest 550 million rupees, towards its capital expenditure and rest of the IPO proceeds will be used for working capital requirements. (Reuters)


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