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News Roundup: Temasek Holdings Eyes More Energy Deals In India

07 April, 2010

Temasek Holdings Eyes More Energy Deals In India – Singapore state investor Temasek Holdings Pte is looking for equity stakes in Indian power producers. The firm, which is currently in talks with GMR Energy, a group firm of infrastructure major GMR, is eying more such options for investments and is trying to get exposure in the Indian market. GMR Energy will reportedly raise over Rs 1,600 crore from Temasek for setting up of thermal and hydro power projects of close to 4,500 MW capacity. (BS)

Unitech Plans Corporate Restructuring, Hires Advisors – Unitech Ltd, the second-largest real estate developer in the country, is exploring opportunities for potential merger of its subsidiaries, demerger and other forms of restructuring, besides acquisition plans. The company has already appointed Ernst & Young, S R Batliboi & Co and Amarchand & Mangaldas & Suresh A Shroff & Co, as advisors to assist the restructuring exercise. The company has been looking at demerger of its non-core businesses in order to focus only on real estate. (DNA)

Sierra Atlantic Acquires Firm In North Carolina – Sierra Atlantic, Inc., an IT services company operating in the offshoring enterprise applications and outsourced product development space, has acquired a North Carolina-based consulting and Oracle solutions provider Baytree Associates in a 50:50 cash-and-earnout deal. This is the fourth acquisition of Sierra Atlantic in the last four years. Sierra says the acquisition strengthens its offerings in banking, finance and healthcare practices and expands its footprint in the New Oracle Economy. Sierra has a strong presence in India as well. (BS)

SpiceJet Says ‘No’ On Stake Sale To Religare Voyages – Low cost carrier SpiceJet has said the company is not in discussion with Religare Voyages to sell stake in the budget airline. Religare Voyages, an air charter and travel business firm, is owned by billionaire Malvinder Singh, who stepped as chairman of Religare Enterprises recently to focus on his healthcare business. It was earlier reported that SpiceJet is in talks with Religare Voyages to shed some stake in the company. ()

Shriram Capital Eyes PE To Offload Stake – Shriram Capital Ltd (SCL), the flagship holding company of financial services and insurance ventures of the Shriram Group, is tapping private equity players to raise fund. The company is looking to raise Rs 4,000 to 6,000 crore by selling 10-25% stake in the firm. Shriram Capital is eyeing private equity players such as Texas Pacific Group to unlock value, and expects to grow at 25% in the next 4-5 years. ()

SEBI Cuts Listing Time For IPOs – Market regulator the Securities and Exchange Board of India (SEBI) has proposed to reduce the time between the close of a public issue and the company’s listing to 12 days from up to 22 days now. The new timeline will be applicable to all public issues opening on or after May 1, 2010. Apart from listing time, the regulator has made some changes in the time frame of filing financial results as well. With the changes, the listed companies have to submit their audited quarterly and annual financial results within 45 days and 60 days, respectively. (DNA)

IndusInd Bank Raises Rs 420Cr Via Bonds – Private sector lender IndusInd Bank has raised Rs 420 crore through tier II bonds. The bonds were placed with institutional investors. The bank has already obtained an in-principle approval from the National Stock Exchange for the listing of these securities. It says the fund will help it supplement its business growth. (BS)


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News Roundup: Temasek Holdings Eyes More Energy Deals In India

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