Ansal To Raise $100M Through PE – Real estate major Ansal Properties and Infrastructure (API) is in talks with private equity (PE) players, including Red Fort India Real Estate Fund and Bahrain-based Investate Realty, to raise up to $100 million through equity stake sale in its two projects. Ansal plans to dilute around 26% in the two proposed townships in Lucknow and Dadri near Delhi. Last year, HDFC Asset Management Company had picked up 8.5% in Ansal’s Dadri project for Rs 225 crore. (Economic Times)
Essar Minerals, Jindal Power In Race For Oz Co – Essar Minerals and Delhi-based Jindal Steel & Power are in race to acquire Perth-based coal and coke producer Rocklands Richfield. The duo believe that the acquisition will increase their ownership of key resources and lower production costs in their businesses. Essar had put in a bid of 50 cents for every share of Rocklands, which is higher than the earlier bid of 42 cents put in by Jindal Steel. Essar’s bid values the Australian coal company at A$144 million. (ET)
CCD To Acquire Coffee Retail Chain In Eastern Europe – Café Coffee Day (CCD), a leading coffee retail chain in India and an arm of Amalgamated Bean Company, is close to acquiring a coffee chain in eastern Europe. The company is looking at buyout opportunities in the US market as well. The company plans to open around 12 stores in Prague, the capital of Czech Republic. ABC currently has cash reserve for a two-year period and could eventually look at another $100 million over the next few months. (ET)
StanChart IL&FS Fund To Make Final Close By Dec – Private equity firm IL&FS Investment Managers is expecting the final close of its Asia Infrastructure fund at $800 million by the end of December this year. The fund, which is run in partnership with Standard Chartered, has got commitments for about $640 million. The company is now in the last stage of raising the balance. (Reuters)
Jaguar Secures Rs 1,300 Cr Loan From SBI – Tata Group-owned British car maker Jaguar Land Rover had secured a Rs 1,300 crore loan from State Bank of India. This comes over and above the Rs 420 crore committed export financing facility with ABC International Bank. As part of restructuring, JLR had recently announced it would rationalise some production facilities that could lead to closure of one of its plants in the Midlands. The company will also make some fresh investments in new technologies and products. (Business Standard)
Indiabulls Fixes Rs 40-45 Band For IPO – Indiabulls Power Ltd has fixed a price band of Rs 40-45 a share for its proposed initial public offering (IPO). The company aims to raise Rs 1,700 crore through the IPO. The IPO would open for subscription on October 12 and close on October 15. Morgan Stanley India is the sole book running lead manager to the issue. (BS)
Srei JV Mulls IT, Agri Equipment Finance Foray – Srei Equipment Finance (SEFL), a 50:50 joint venture between Srei Infrastructure Finance (SIFL) and BNP Paribas Lease Group (BPLG), is planning to foray into agriculture, medical equipment and information technology (IT) equipment finance. The company hopes to disburse Rs 500 crore under the IT vertical and Rs 200 crore for medical equipment finance in the current financial year. Operations for agriculture equipment finance would begin next year. (BS)
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