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News Roundup: Wipro May Buy Assets Of Lornamead

13 October, 2009

Inter-telecom M&As On Cards – The communications regulator is planning an overhaul of rules governing the telecom sector, considering changes that could facilitate consolidation in India’s crowded and intensely competitive mobile phone market. The Telecom Regulatory Authority of India (Trai) is contemplating some changes that will allow mobile phone firms to buy each other out and trade in wireless spectrum. The regulator is planning to lay out a roadmap by December 2009 so that new policy can be put in place before the end of the fiscal year in March 2010. (Economic Times)

Domino’s Pizza To Raise $64.7M Via IPO – Jubilant Foodworks, which runs the Indian franchise for global fast food chain Domino’s Pizza, today filed an application with market regulator Sebi for an initial public offering (IPO) to raise up to Rs 300 crore. Of the total over 2.27 crore shares on offer, a little over 2.04 crore shares would be for the public while the rest would be reserved for subscription by eligible employees of the company. The company plans to utilise the proceeds to repay debt of Rs 35 crore. (Business Standard)

JSW Energy Scouting For Partners, Acquisitions – JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business and is scouting for acquiring coal mines abroad, preferably in Australia and Indonesia. It will invest Rs 14,048 crore over five years in power generation, transmission and mining. It plans to raise around Rs 3,000 crore through a public offer. (BS)

Wipro May Buy Assets Of Lornamead – Wipro Consumer Care & Lighting, the FMCG arm of IT service firm Wipro Ltd, is in advanced talks to acquire certain assets of UK-based, privately-held personal care company Lornamead. This is part of company’s plan to increase its global footprint in the personal care space. Lornamead offers personal care products including hair-care, cosmetics and skin-care, oral care and home care brand. In July 2007, Wipro had acquired Singapore-based personal care products manufacturer Unza Holdings Ltd for $246 million in an all-cash deal. (ET)

Sloane Robinson Ups Stake In Indiabulls Realty – Foreign fund house Sloane Robinson LLP has hiked its stake in Indiabulls Real Estate to 5.42% through open market share acquisition. It has bought 19.82 lakh shares of Indiabulls Real Estate Ltd through open market transactions. The value of the transaction is about Rs 57 crore. (BS

Blackstone Plans To List Eight Firms – Global investment firm Blackstone is planning to list up to eight of its firms and sell at least five others. The firm sees revival in world economy and wants to capitalise on improved conditions.  Blackstone is considering listing of eight companies in which it has invested collectively more than $4 billion. The company is also planning to sell five companies it owns, at values twice as high as those estimated at the end of 2008. (BS)

Bajaj Electricals To Raise Rs 135 Cr – Leading consumer electrical products major Bajaj Electricals plans to raise Rs 135 crore through private placement of shares with qualified institutional buyers. The board has also approved to split the stock in 1:5 ratio. Bajaj Electricals is a diversified company with five major strategic business units comprising of home appliances, fans, lighting, luminaires and engineering and projects.

 


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News Roundup: Wipro May Buy Assets Of Lornamead

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