StanChart PE In Talks For $30M Stake In DivyaSree Project – Standard Chartered Bank has lent Rs 250 crore of construction loan to DivyaSree Developers for developing a mixed used project in Bangalore. The mixed-use residential project, DivyaSree Technopolis, is being built on the Old Airport Road in Bangalore. The Bangalore-based builder is also in talks with private equity funds, including the PE arm of Standard Chartered to raise $30 million by selling a stake in its residential development in Bangalore. (Economic Times)
Apollo To Raise Rs 100 Cr – Apollo Hospitals Enterprise Limited, the country’s largest hospital chain, is planning to raise around Rs 100 crore to fund its operations. The hospital is looking at raising funds through bonds with a call option at the end of the third year. Plans are in the preliminary stage and nothing has been finalised yet. Coupon rates for the private placement have also been fixed. (Business Standard)
Titan Energy To Sell 25% Stake – Hyderabad-based Titan Energy Systems is likely to dilute 25 per cent of its stake for valuation during the third quarter of the next financial year. The company plans to raise around Rs 50 crore for the 20-25 per cent stake. The company had recently raised Rs 30 crore equity from IFCI Venture Capital and Rs 32 crore debt. At present, 15 per cent stake is owned by IFCI Venture Capital, 10 per cent by a German company, and the rest by Titan Energy. (Business Standard)
Gati Hits Upper Circuit – Shares of logistics services provider Gati Ltd hit the upper circuit of 20 per cent (19.87 per cent) to close the day’s trade at Rs 38.30 following some news flow of a leading fund partially diluting its holding through market sale. According to statements made to the stock exchanges, there has been hectic trade in the scrip over the last few days with some institutional buyers increasing their holding and others exiting as the country’s logistics business is on a consolidation mode. (Business Line)
Bank of Maharashtra Raising Capital From LIC – The Bank of Maharahstra will be the second bank after Dena Bank to raise capital from Life Insurance Corporation (LIC), in a move aimed at boosting their capital. The board of the bank will meet on February 10 to consider issuing shares on preferential basis to government or LIC. Widening fiscal deficit has prompted government to approach LIC to invest in government owned banks- a move which will help government to trim expenses and yet retain control over banks. (Economic Times)
Tata Power Eyes Overseas Buys – Faced with multiple domestic sectoral woes, the country’s largest private power producer, Tata Power, is actively exploring overseas opportunities for generation and distribution projects in SAARC nations, Africa, Turkey and the Middle East. Tata Power has an installed capacity of over 3,790 MW and expects to have a capacity of 25,000 MW by 2017. (Economic Times)
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