Warburg Pincus To Invest In Liquid Storage Firm – Chennai-based IMC is set to raise upwards of Rs 200 crore by diluting equity in favour of global PE biggie Warburg Pincus. Warburg would invest in the company for a minority stake which will help IMC in its bid to to expand its infrastructure facilities across major port terminals in the country. IMC, one of the country’s largest independent bulk liquid storage companies, offers storage for bulk liquid with a combined capacity in excess of 9,30,000 kilolitres. (Times of India)
Vivendi Leads Race For RCom – French media and telecom giant Vivendi is negotiating with Reliance Communications (RCOM) to buy a 26% stake in the firm and the discussions are now at an advanced stage. A top Vivendi team was in Mumbai last week to settle the contours of the deal. UAE-based telecom service provider Etisalat is also in the race. (Economic Times)
Murli Industries To Sell Cement Plant – Murli Industries is seeking a buyer for its 3-million tonne cement plant in Maharashtra. The Nagpur-based diversified company is in preliminary talks with a handful companies, including some foreign giants, to sell the Chandrapur uni. The company has appointed Motilal Oswal Investment Advisors to find a buyer. (ET)
Shoppers Stop Plans Rs 300 Cr QIP – Retailer Shoppers Stop has proposed to raise Rs 300-crore through a qualified institutional placement (QIP) over the next two quarters. It is also planning to invest Rs 100-120 crore to open 12 more Shoppers Stop outlets and four Hypercity stores in this fiscal. The BSE-listed retail chain of the K Raheja Group, holds a 19 per cent stake in Hypercity. It now intends to up its stake by 32 per cent by the end of this month. (Business Standard)
Samara Capiatl May Invest in Thriveni – Private equity firm Samara Capital is the front-runner to pick-up minority stake in Thriveni Earthmovers for up to Rs 150 crore. The Salem-based company specialises in mining. The funds would be used to enter new foreign markets, besides strengthening its operations in Indonesia. (Times of India)
ONGC Eyes Exit in Three JVs – State-run Oil and Natural Gas Corporation (ONGC) is exploring the option of exiting three lucrative domestic producing fields, including the decade’s biggest onland oil discovery. The flagship explorer has offered to sell its stake to its private partners — group arms of UK-based independent explorers Cairn and Hardy, Tata Petrodyne as well as Hindustan Oil Exploration Company — in respective fields. (ToI)
ICICI Venture Eyes Rs 400 Cr Exit From RFCL – After five years of buying out Ranbaxy’s allied business — Ranbaxy Fine Chemicals — India’s oldest PE fund, ICICI Venture, is now looking at a complete exit. Investment bank NM Rothchild has been appointed as the advisor and ICICI VEnture is looking at a Rs 400 crore valuation at the exit. Last year RFCL sold the animal healthcare vertical of the company, Vetnex, to global giant Pfizer for about Rs 350 crore. The remaining businesses include diagnostics and fine chemicals. (BS)
Inno Plans $150 Mn Realty Investments – Inno is planning to invest around $150 million (Rs 690 crore) in various residential projects in the country in the next six to seven years. The global investment group focused on real estate recently launched Inno Geocity, a Rs 750-crore flagship residential project to come up in the industrial belt of Oragadam. Inno had raised $200 million (around Rs 920 crore) so far and had invested $50 million in three projects including a hotel project and residential projects in Chennai, and a villa project at Coimbatore. (BS)
Taj GVK Eyes More Buys – Taj GVK Hotels & Resorts Ltd is scouting for more buyouts even as its latest property in Hyderabad – Taj Vivanta – gets ready by December 2010 for commercial operations. The company has made three acquisitions in the past which include of properties in Chandigarh and Chennai. (HinduBusinessLine)
Tricom Nears Two Acquisitions – IT services provider Tricom India today said it is in final stages of acquiring Mastiff Tech and Mastiff Internet Media Solutions. These acquisitions would strengthen the company’s BPO operations. The requisite formalities for purchasing these two firms are expected to be completed within the next few weeks. (BS)
Aster Silicates Plans Rs 53 Cr IPO – Aster Silicates Ltd has proposed to enter the capital market with its initial public offer (IPO) to raise resources to the extent of Rs 53.10 crore. The exp4ected price band of the issue is at Rs 112 to Rs 118 and opens and closes for subscription on June 24 and June 28, 2010. The Ahmedabad-based sodium silicate manufacturer intends to utilise the proceeds of the issue towards expanding its current manufacturing facilities at Jhagadia industrial estate near Bharuch. (BS)
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