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News Roundup: SpiceJet To Raise Rs 400Cr From Share Sale

25 July, 2011

SpiceJet To Raise Rs 400Cr From Share Sale – Low-cost carrier SpiceJet is looking at raising funds through a share offering expected to conclude by December. Promoter Kalanithi Maran pledged a large chunk of his holding 10 days back to raise Rs 200 crore for the cash-strapped airline. Company is considering a rights issue and it has appointed merchant banker Enam. (Economic Times)

Zydus In Talks For Biochem Plant, Brands – Zydus Cadila is in talks to acquire the brands and manufacturing facility of Biochem Pharmaceuticals in a deal valued at around Rs 300-450 crore. In fiscal 2009-10, Biochem reported revenues of Rs 241 crore. Biochem makes popular antibiotics such as Amicin or amikasin, which is used for dermatological treatment. (Economic Times)

Knowledge Universe, Knightsbridge In Talks With Core Projects JV – Oracle CEO Larry Ellison co-founded Knowledge Universe and UK’s Knightsbridge are in the fray to float a joint venture with Mumbai-based Core Projects & Technologies to tap India’s growing demand for premium international schools. Core, which is a technology solutions provider in the education space, had mandated Ernst & Young to advise on setting up a chain of premium K12 schools. (Times of India)

CavinKare Eyes $200M Private Equity Round – C K Ranganathan-led CavinKare is planning to dump its IPO plans and look for private equity to fund its growth plans. The PE fund raising exercise will begin only towards the end of this fiscal and CavinKare is expected to raise around $200 million. (Times of India)

Religare Buys South Africa’s Noah Financial – Religare Capital Markets (RCML), the investment banking arm of Religare Enterprises, will acquire a controlling stake in South African brokerage Noah Financial Innovation for an undisclosed amount. The acquisition will give RCML’s a foothold in South Africa and expand in African continent to build a global emerging markets focussed investment bank. (Economic Times)

SVB India Team Raising Spin-Off Fund – Top executives of the co-investment team of SVB India Advisors Pvt. Ltd, the local investment arm of US-based Silicon Valley Bank, are forming a new fund called Saama Capital. Ash Lilani and Suresh Shanmugham, who manage SVB India Capital Partners Fund, will be the key fund mangers of Saama Capital. In India, SVB has a lending arm that provides debt to venture capital (VC)-backed companies and a $54 million (around Rs.240 crore) co-investment fund SVB India Capital Partners Fund.

Gandhimati Appliances Eyes Rs 100Cr PE Funding – Kitchen appliances major Gandhimathi Appliances Ltd is planning to raise Rs 100 crore through private equity investment into the company for capacity expansion and a few upstream projects. The company has given the mandate to Motilal Oswal Financial Services for the purpose. Gandhimathi Appliances manufactures and markets a range of appliances from pressure cooker to mixer grinders under the brand name Butterfly.  (Business Line)

Bharti In Fray For Zimbabwe’s NetOne – Exactly a year after it entered the African telecom market with its $9 billion acquisition of Zain’s operations in that continent, Bharti Airtel is aiming to expand its footprint and has joined the race to pick up stake in NetOne, Zimbabwe’s third largest cellular mobile network. South Africa’s MTN is also in the race to pick up 60% in the Zimbabwean state-owned operator. (Economic Times)

Ireo To Set Up Township In Panchkula – Ireo, the the private equity fund dedicated to the real estate sector, has launched its new integrated township project “ IREO – Fiveriver ”. Spread over a sprawling 200 acres, the project is located in Panchkula, on the outskirts of Chandigarh. (Business Standard)


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News Roundup: SpiceJet To Raise Rs 400Cr From Share Sale

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