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News Roundup: SuperMax Plans To Raise $100M Through PE

20 May, 2010

SuperMax Plans To Raise $100M Through PE – SuperMax Corporation, the India-based razor blade manufacturer with global operations, is planning to raise fund through private equity route. The firm, which plans to raise $75-100 million in the process to expand its operation and acquisition, is in talks with global PE majors like Kohlberg Kravis and Roberts (KKR) and Bain Capital for the deal. SuperMax runs its India operation under Vidyut Mettalics Pvt Ltd, and the brand is present across 140 countries globally. (Mint

StanChart May Pick Up 15% In CK Jaipuria Group – Standard Chartered Private Equity fund is in talks to buy a 15% stake in bottling company CK Jaipuria Group for as much as Rs 150 crore. Jaipuria is a PepsiCo bottler in India. The fund raise is part of his plan to diversify into hotels and restaurants business, apart from expanding the bottling biz. He had earlier tried to raise funds from Motilal Oswal Private Equity Advisors and Beacon India Private Equity Fund. Last week, VCCircle has reported that Varun Beverages Ltd, another PepsiCo bottler led by Ravi Jaipuria, may also look at private equity fund-raising of at least $100 million by divesting up to 10% stake in the company. (ET)

ACK Buys India Book House – Amar Chitra Katha Pvt Ltd (ACK), a Mumbai-based entertainment and education company for young audiences, has acquired a 100% stake in India Book House Pvt Ltd (IBH), one of the largest and oldest distribution networks for books and other published material. The new entity, IBH Books and Magazines Distributors Pvt. Ltd, will be one of the largest integrated publishing and distribution companies in India. ACK is also looking to raise around Rs 100 crore in the next 18 months to expand its portfolio of products and business in India and abroad. (Mint)

Multiplex Operator Cinepolis Plans Rs 1,600-Cr Expansion – Cinepolis, a Mexico-based multiplex operator, is looking to expand its footprint in India. The company started operations in India last year and has planned to invest $350 million (Rs 1,600 crore) in the next five years to operate 500 screens in 40 cities in the country. As part of the plan, the company is looking at partners in India in the exhibition space. Cinepolis is ready to invest in or buy out an existing multiplex chain for this expansion. The company is currently in talks for partnership with other operators, including DT Cinemas. ()

Avantha Group Acquires US Firm Pyramid Healthcare – Avantha Group, a diversified company headed by Gautam Thapar, has acquired Pyramid Healthcare Solutions, a US-based company in a deal that valued the firm at $20 million (Rs 92.54 crore). Avantha has paid $14.5 million upfront and the balance will be paid after two years for a 100% stake in Pyramid. Avanthabelieves the acquisition will strengthen its global presence in the niche healthcare solutions sector, and provide a key platform to scale up domain expertise in the US healthcare market. ()

Jai Balaji Looks PE To Set Up New Power Project – Jai Balaji Industries Ltd, a Kolkata-based steelmaker, is in talks with equity investors – both strategic and financial – to raise funds for its proposed greenfield integrated steel project in West Bengal. The company proposes to execute a five-million tonnes project in two phases. It targets to complete the first phase of two-million tonnes capacity in the next two years from now. Jai Balaji plans to start the construction activity with internal accrual, and will subsequently raise the balance amount through equity. (Business Line)

Sivasankaran Buys 23.5% Stake In Nordic Tankers – C Sivasankaran, a serial entrepreneur and chairman of Sterling Group, has acquired 23.5% stake in Copenhagen-listed Nordic Tankers A/S for $15 million. Sivasankaran has bought the stake subscribing to company rights, and has emerged as the second largest shareholder in the company. The acquisition was made by Siva Ventures Ltd, the flagship of the Sterling Group, which has interests in telecommunications, media, biofuels, wind energy and real estate. (Mint)

HC Barred Vishal Retail From Asset Sale In Next 6 Months – Troubled retailer Vishal Retail Ltd, which is engaged in a corporate debt restructuring (CDR) exercise with creditors and is in talks to sell a stake to private equity company TPG Capital Lp, has hit a roadblock, with the Delhi high court barring it from selling any assets for the next six months. The court, hearing a winding-up petition filed by Singapore’s DB300S Bank Ltd, passed an interim order on May 11 restricting the retailer from selling any movable and immovable assets before the next hearing on November 25. The court also asked Vishal Retail to file an affidavit providing information on its assets, and several other details related to the business. (Mint)

HISL To Discontinue Merchant Banking Biz – HSBC InvestDirect India Ltd, an online trading and share broking platform, has planned to discontinue its merchant banking business, which was run through HSBC InvestDirect Securities India Ltd (HISL). The move is part of company’s plan to align the business with a long term strategy in mind, it informed the Bombay Stock Exchange. The board of directors of the company has approved the plan, and the company will accordingly surrender its merchant banking licence to Securities and Exchange Board of India. HISL will continue to be a trading member of the BSE and NSE in the cash and futures & options segments, and will focus on the retail and corporate segment. (Team VCC) 

Hero Honda Promoters Rejig Shareholding – The promoters of Hero Honda are restructuring their shareholding. Post this development, Suman Kant Munjal will control 26% stake via two investment companies. Moreover, VK Munjal and S Munjal have transferred ownership of Highway Industries (HIPL) to SK Munjal. The transfer is likely to be made at Rs 0.80 per share on or before May 24. HIPL will acquire 8.67% stake from Hero Cycles, and will also hold 17.33% stake in Hero Honda. (Moneycontrol)

Esab Acquires Partner’s Stake In JV – Esab India Ltd, a listed firm engaged in the business of supplying a range of welding, cutting and allied products, has bought its partner’s stake in the JV company in Netherlands. The company was in JV with Exelvia Holdings BV in ESAB Engineering Services Ltd, in which Esab India had 24.9% of the equity shares, while the balance 75.1% was with Exelvia, it informed the stock exchange. The company has now acquired all the equity of Exelvia in the JV, making it a wholly owned subsidiary of the company. (Team VCC) 

Gujarat Pipavav To Invest Rs 200Cr On Infrastructure – Gujarat Pipavav Port Ltd (GPPL), which is awaiting the SEBI nod for its proposed IPO to raise Rs 500 crore, plans to invest nearly Rs 200 crore, out of the capital market proceeds, on further development of infrastructure at the port. It will utilise the remaining Rs 300 crore to repay debt. GPPL had so far invested Rs 1,500 crore at Pipavav. (Business Line)

Axis Bank Buys Mumbai Plot From Bombay Dyeing – Axis Bank, India’s third largest private sector lender, has bought a property in central Mumbai from Bombay Dyeing. The deal is reportedly around Rs 782 crore. Axis Bank plans to shift its corporate headquarters in the property that is currently located at Cuffe Parade in south Mumbai. (DNA)

Gulf Oil, Hinduja Realty In Joint Land Development Project – Gulf Oil Corporation Ltd, a Hyderabad-based company engaged in the manufacturing of automotive and industrial lubricants, has entered into a joint development agreement with realty major Hinduja Realty Ventures Ltd. Following this, the companies will jointly develop a land project spread over 39 acres in Bangalore, it informed the Bombay Stock Exchange. (Team VCC)


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News Roundup: SuperMax Plans To Raise $100M Through PE

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