Vatika Group In Talks With Deutsche Bank - Vatika Group is in advanced talks to raise Rs 800-1,000 crore from Deutsche Bank for its upcoming residential project in the national capital region. Delhi-based real estate and hospitality company will raise funds through a structured finance deal where a special purpose vehicle (SPV) will be formed for Vatika’s third residential project ‘Gurgaon-India Next’. Deutsche Bank will invest through an equity convertible instrument that would ensure a return of around 18-20% for a maturity period of three years. (Economic Times)
A2Z Plans Rs 350 Cr IPO - Engineering and construction services firm A2Z Maintenance & Engineering Services is planning a Rs 350 crore IPO to fund its expansion plans. The issue will entail around a 10% dilution of the total equity through the public issue. A2Z is expected to file draft red herring prospectus by month-end. For the year ended March 2010, the company had consolidated sales of Rs 1,200 crore and expects to grow 25% this year. Its private equity investors include Rakesh Jhunjhunwala, Beacon India and India Equity Partners. Merrill Lynch, Enam Securities and IDFC are the merchant bankers for the issue. (ET)
Allied Blenders & Distillers Seeks PE Funding - Kishore Chhabria promoted Allied Blenders & Distillers is exploring options to offload 5 to 10% equity to private equity funds. India’s third largest spirits company is in talks with 3-4 foreign PE Funds and expects to firm up a deal over the next three-four months time. The company is planning a capex of Rs 250 crore to execute its growth plans including putting up new bottling plants, distilleries and rolling out new brands, and plans to raise nearly Rs 50 crore from PE funds. The company is also gearing up for its maiden IPO around mid-2011 to raise more funds. (Financial Chronicle)
Vijay Shanthi Acquires End Homes - Vijay Shanthi Builders Ltd has acquired High End Homes Pvt Ltd a privately held company for around Rs 30 crore. The deal would give Vijay Shanthiland assets of 7.5 acre at Ambattur. The company is planning to build a Rs 210-crore residential project on the land accruing from the acquisition. The total area floor space of the project would be around 6-7 lakh sft. (Business Standard)
Fortis Healthcare May Have To Offer For Remaining 74.63% In Parkway - Fortis may have to make a general offer to acquire the entire 74.63% stake in Singapore hospital chain Parkway Health if it decides to counter Malaysian sovereign fund Khazanah’s offer to take control of the company. As per takeover regulations for companies listed on the Singapore Stock Exchange, an acquirer cannot make a partial offer within six months of buying stake in a listed company. (ET)
DCB Promoter Stake To Come Down By 5% Post Dec QIP - Private sector lender, Development Credit Bank (DCB), in which the Aga Khan Foundation holds over 23% stake, expects to reduce the promoter stake by around 5% through its proposed Rs150 crore qualified institutional placement in December. The issue is being launched as part of the bank’s efforts to bring down the promoter holding to 10% as stipulated by the Reserve Bank. Earlier, the apex bank had put pressure on the Mumbai-based lender to reduce Aga Khan’s stake. DCB had submitted a detailed roadmap to the Reserve Bank to minimise the promoter holding to 10% by March, 2014. (Mint)
Mastek To Buy Firms In North America, UK - IT major Mastek is eyeing an acquisition in the insurance vertical in North America as well as the UK, and could spend up to $50 million for the same. The move is part of company’s plan to grow in the insurance sector, both life and general. The company is currently in talks with 3-4 firms for potential buyout. The deal size could be between $30-50 million. (ET)
Bhushan Steel Plans To Raise $500M - Bhushan Steel has decided to raise funds worth $500 million from the market to finance the company’s greenfield projects. The company plans to raise the amount in one or more tranches from domestic or international markets. It has sought shareholders’ approval for the proposed fund raising activity. The funds will be utilised to finance its new projects, including mining operations. (ET)
Ramanasree Group Plans IPO This Fiscal - Ramanasree Group, a South India-based logistics player, is planning to tap the capital market with an initial public offer (IPO) some time this financial. The company plans to raise the fund to part finance its expansion plan in FMCG space. It has recently entered into the FMCG sector by launching a branded refined sunflower oil in Andhra Pradesh. (Moneycontrol)
Jaypee To Buy Duncans’ Kanpur Fertilizer Plant - Tea producer Duncans Industries Ltd is set to sell its closed fertilizer plant near Kanpur to real estate and infrastructure developer Jaypee Group, which is looking to expand in agriculture. If the deal goes through, the plant, which has a urea production capacity of 722,000 tonnes per annum, would be hived off into a separate company, and a 74% stake in it would be sold to the Jaypee Group for a token consideration of Re 1. )
Jindal Cotex To Raise $50M Through GDRs - Jindal Cotex Ltd, a flagship company of Jindal group of Ludhiana, is looking at raising $50 million through the issue of global depository receipts (GRDs). The board of directors of the company has already approved the fund raising plan, which is now subject to the regulatory approvals, it informed the Bombay Stock Exchange. (Team VCC)
Essar Oil To Raise Up To $300M Via FCCBs - Essar Oil Ld, part of diversified Essar Group, is looking at raising up to $300 million through the issue of foreign currency convertible bonds (FCCBs). The company plans to raise the proposed fund in one or more trenches, it informed the Bombay Stock Exchange. (Team VCC)
