facebook-page-view
Advertisement

News Roundup: Trident Cuts India Allocation As Fund Size Drops

By TEAM VCC

  • 27 Jul 2009

Trident Cuts India Allocation As Fund Size Drops - US-based investor Trident Capital slashed its India investment plans by 60% after its latest fund has managed to raise only $400 million, much lower than targeted $600-800 million. The firm was earlier planning to invest around $150 million in India, which has been reduced now to about $50-60 million. Trident has invested around $40 million in India in about five companies. (Livemint)

Brewer Looks For Private Equity Funding - Tilaknagar Industries, a manufacturer of Indian-made foreign liquor, is looking to raise Rs 50 crore through private equity placement for capacity expansion in its subsidiaries. The firm would also use the capital to meet its working capital requirements. (PTI)

Godrej in Talks With Sara Lee - Godrej Consumer Products is in discussions with Sara Lee Corp to acquire 100% stake in the joint venture Godrej Sara Lee. The US-based firm holds a 51% stake in the venture. The board of Godrej has approved the deal, which is expected to be at Rs 850-900 crore. (Business Standard)

Advertisement

Emco Sells Unit To GMR - Transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Bangalore-based GMR Energy. Emco has sold the unit in order to focus on bigger power generation plans instead of a smaller plant that the subsidiary was pursuing. Emco Energy is building a 520 mw coal-based power plant in Warora near Chandrapur, Maharashtra. (DNA)

Shriram Properties To Raise Rs 500 Cr - Shriram Properties is looking to invest around Rs 4,900 crore in various residential and commercial projects. Part of th diversified Shriram Group,the firm is also planning to raise Rs 500 crore through equity. Shriram Properties has also raised funding to the tune of Rs 950 crore from Sun Apollo, Starwood Capital and Citigroup are investors in the company.It is also foraying into hospitality sector to become a Rs 1,000 crore revenue company in the next three years. (BS)

UPL Leads Race For Gharda Chemicals - United Phosphorus (UPL) is in acquisition talks with Gharda Chemicals with around a half-a-dozen suitors wooing the firm. Besides UPL, the Tata-owned Rallis India, Godrej Industries and two multinationals are also interested in the Rs 1,000 crore agro-chemical firm. (DNA)

Advertisement

 

Aerens Gold Souk plans Rs 750-cr investment : Gurgaon-based Aerens Gold Souk Group plans to invest around Rs 750 crore in Kerala over the next few years.The company’s board has approved an investment of Rs 1,000 crore in Kerala over five years, Mr Ashish Gupta, Vice Chairman and Joint Managing Director, Aerens Gold Souk Group told Business Line.The company has already spent around Rs 250 crore of the Rs 1,000 crore earmarked for Kerala on its Gold Souk Grande mall in Kochi, he added.Possession of retail space in the mall has already been handed over to the various tenants, he said. The mall, with over 5 lakh square feet of space, will have a ‘jewellery zone’ featuring some of the biggest jewellery brands from Kerala, India and the Gulf region, he claimed. In addition, Gold Souk Grande will also have a hypermarket, food court and some lifestyle retailers, he added. ( Hindu Business Line)

Advertisement

Share article on

Advertisement
Advertisement