Viom Networks Defers IPO Plan - Telecoms tower company Viom Networks (formerly Tata-Quippo) has indefinitely deferred plans to raise up to Rs 6,000 crore through an initial share sale by listing on the bourses. Earlier this year, the company had made plans to reduce the size of its initial public offering to about Rs 4,500 crore and planned to list during April-September. Credit Suisse, Goldman Sachs, Morgan Stanley, Citigroup and IDFC Capital as bankers for managing the issue. (Economic Times)
Wayzata Investment Partners Invests In Topack Fittings - US-based private equity firm Wayzata Investment Partners has invested $15 million in Baroda-based pipe-fittings company Topack Fittings Ltd. This is the sixth India investment that Wayzata has made since its foray into the country in 2007. The private equity firm, which has $5 billion in total assets globally, has invested in two Indian chemical companies so far, and one each in logistics, packaging and cement sectors. (Mint)
Vaatsalya Healthcare Raises $10M From Aquarius India Fund - Vaatsalya Healthcare, which provides affordable healthcare in semi-urban and rural India, has raised a third round of funding to extend its network of low-cost hospitals across the country. The six-year-old firm has raised $10 million from Singapore-based Aquarius India Fund and existing investor Seedfund. Bangalore-based Vaatsalya , which has hospitals across Andhra Pradesh and Karnataka in regions such as Hubli, Shimoga, Vizianagaram and Narasanapetta , will use the funds to create a pan-India network of hospitals. (Economic Times)
Kingfisher Airlines Eyes PE Funding - Beleaguered carrier Kingfisher Airlines Ltd is looking at alternative funding routes such as private equity (PE), leasing more planes and consolidating its offices into a single centre at Mumbai airport to reduce rent. The airline has reduced debt by about 20% to Rs.6,007.30 crore in April from Rs.7,651.12 crore a year ago following a debt recast.
AVR Valves Plans Rs 100Cr IPO - Rajkot-based vales maker, AVR Valves Private Limited is planning to raise Rs 100 crore through the initial public offering (IPO) during the current financial year. The company plans to setup an automatic valve manufacturing unit in the city. AVR Valves also plans to acquire a US-based company for which the company is in talks. (Business Standard)
KR Choksey Shares Eyes Stake Sale - Mumbai's KR Choksey Shares and Securities has been in touch with domestic and foreign brokerages in relation to selling a partial stake in the company. Among others, it has held talks with a diversified financial services company and another brokerage promoted by a large corporate entity in the past few months. A foreign firm looking to establish a foothold in India has also been doing the rounds. (DNA)
GAIL Eyes 20% In US Shale Gas Firm - State-run gas utility GAIL is making a non-binding bid for acquiring 20% interest in shale gas assets owned by a US company. The deal is estimated to cost some $400-500 million. GAIL may be eyeing Eagle Ford Shale and Barnett Shale, both based out of Texas. GAIL is the second company after Reliance Industries , India's biggest private sector oil firm, that is acquiring equity in US shale gas assets. (Times of India)
L&T Finance IPO In June - The Rs 1,750-crore initial share sale offer of L&T Finance Holdings, the financial services arm of Larsen & Toubro, is likely to hit the capital market in June. The company has received FIPB ( Foreign Investment Promotion Board) approval for coming out with a Rs 400-crore pre- IPO placement. The company would soon file the final papers (Red Herring Prospectus) for the IPO and merchant bankers are receiving good response from investors for the pre-IPO placement. (Economic Times)
Future Group's Logistics Arm To Raise Rs 1,000Cr - Future Group's logistics arm is planning to raise Rs 1,000 crore by selling stake either through an initial public offering or private equity placements in the next 15 months. Funds could be raised through private equity placements, IPO or even existing stakeholder Li & Fung increasing its stake. At present, Future Supply Chain gets more than 70% of its Rs 600 crore business from servicing retail operations of its parent company. (Economic Times)
