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News Roundup: Tata-Quippo Plans Rs 5,000Cr IPO

23 August, 2010

Tata-Quippo Plans Rs 5,000Cr IPO – Tata-Quippo, which was recently renamed Viom Networks, is set to raise up to Rs 5,000 crore through a public issue, partly to fund expansion plans and to provide part exit option to investors including IDFC Private Equity. The issue is expected to hit the market before next March. Some of the front runners for managing the issue are Morgan Stanley, JP Morgan, IDFC SSKI, RBS and UBS. (Economic Times)

Govt Starts Search For Bhave’s Successor – The government is set to start the process of selecting the next chief of SEBI, a signal that it may not favour a second term for the current incumbent Chandrasekhar Bhave. Finance minister Pranab Mukherjee has approved the formation of a search panel that will recommend a successor to Mr Bhave when his term ends on February 17, 2011. (ET)

SIS Scouts For $100M PE Funding – Private security firm SIS India has decided to raise $100 million in fresh capital from private equity (PE) companies which would result in dilution of promoter’s holding in the range of 10-15%. The company has mandated investment banker NM Rothschild to bring the investors. Hedge fund DE Shaw & Co currently holds 14% in SIS and plans to exit the firm in next few months. (Financial Express)

Dabur To Rope In Strategic Investor For Retail Play – Dabur India would bring in a strategic investor in its retail venture christened “newu”, once it breaks even in the business. The company has managed to bring down its losses in the venture by half from FY09’s Rs 18-crore loss  to Rs 9 crore in FY10. Its revenue rose to Rs 9 crore in financial year 2009-10 from Rs 6 crore in financial year 2008-09. (Business Standard)

Orient Green’s Rs 900Cr IPO Next Month – Orient Green Power, an associate company of Shriram EPC, today said it would launch initial public offer (IPO) next month to raise around Rs 900 crore to part finance its generation capacity expansion. The Chennai based company has plans to invest about Rs 4,000 crore for increasing the capacity to 1,000 MW by March 2013, from 230 MW as of now. (ET)

Realty Marketing Firm Eyes PE Funding – Disha Direct Marketing Services, a leading player in real estate marketing, has drawn up a Rs 250-crore capital expenditure plan to expand its real estate marketing business. It has tied-up for $2-million from an angel investor and expects to raise $6 million from a private equity investor. (ET)

Surya Pharmaceuticals Eyes Acquisitions – Surya Pharma is eyeing inorganic growth in the field of formulations to bring established brands, both, within India and outside India. The company’s board has also approved to raise Rs 300 crore via global depository receipts (GDRs) and foreign currency convertible bonds (FCCBs) would be utilized to go forward with their acquisition plans, both in India and overseas as well as fund a greenfield project. (Moneycontrol)

Cigna Eyes India JVs – American health insurance major Cigna Corporation has initiated negotiations with a clutch of state-owned banks to form an India joint venture. The US company will hold 26% in the proposed JV and may invest around Rs 100 crore initially. (ET)

Gujarat Pipavav Raises Rs 92Cr From Anchor Investors – Gujarat Pipavav Port Limited has raised Rs. 92.17 crore from 20 anchor investor funds allocating 2.04 cr equity shares at Rs 45 per share. Gujarat Pipavav, a developer and operator of APM Terminals Pipavav port, is coming out with its Rs 500 crore public issue on August 23, 2010. (Moneycontrol)


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News Roundup: Tata-Quippo Plans Rs 5,000Cr IPO

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