Mergers & Acquisitions

Ashok Minda Group Acquires German Co – The Noida-based auto component manufacturer has acquired Germany-based Schenk Plastic Solutions GmbH for an undisclosed amount. Schenk has revenues of  €75 million and some of its clients include DaimlerChrysler, Volkswagen and BMW. The acquisition marks entry of Ashok Minda Group into interior plastic business and the firm has earmarked Rs 900 crore for capacity expansion and acquisitions over next three years.

M&M To Sell Stake In Swaraj Mazda - Mahindra & Mahindra, which holds 14% stake in light commercial vehicle manufacturer Swaraj Mazda, is in talks to sell the stake. M&M has started talking to Sumitomo is the principal promoter with a majority stake of 39.49%, according to this report. Other prominent shareholders of SML include Actis (7.74%), CDC (9.28%) and Reliance Capital (7.89%).

Mold Tek Acquires US Co - The structural engineering and packaging KPO firm is acquiring US-based engineering KPO company RMM Global and its India-based associate Technet Engineering Services for $1 million. Both the firms have have about 90 engineers and revenues of about $2 million, according to a report. Mold Tek is also de-merging its flagship plastics division to become a standalone structural engineering KPO.

NTPC-BHEL JV To Sell 50% Stake - The newly formed joint venture plans to sell up to a 50% stake to private companies, according to this report. BHEL and NTPC currently hold equal stakes in the joint venture that was formed in April this year to produce power equipment and build power stations in India and abroad. The power station will have a capacity of 5,000 MW a year by 2014-15 at an investment of Rs 6,000 crore.


Funding Plans

Kingfisher To Raise $400 million - Kingfisher is planning to raise $400 million by selling equity to help fund its expansion. The funds will be raised for the merged entity of Kingfisher and Deccan, and it plans to turn profitable in the next 18-24 months.

Ex-Hidesign CEO Looks For Funding - Kunal Sachdev, who was instrumental in building the Hidesign leather brand and played a key role in taking it international, has left the firm and has started his own venture. Sachdev is planning a retail start-up with some of his  associates and is loking to raise $3.5 million from VCs, according to this this report.

Nivio To Raise $12-15 million - The promoters of Nivio, a service that allows subscribers to rent software applications from companies including Microsoft and Adobe, is planning to raise $12-15 million. The firm has raised raised $6-7 million in previous rounds of funding, according to a report.

Capital Markets

IOC To Spin Off Paradip, Plans IPO - Indian Oil Corp is planning to spin off its Rs 29,777 crore Paradip refinery in to a separate subsidiary and subsequently listing the entity. IOC plans to complete the refinery by the third quarter of 2011, is keen to retain at least 51% controlling stake in the project, according to this report. IOC has also mandated SBI for arranging Rs 14,000 crore of debt for the project.

Tata Motors Announces Rights Issue - Tata Motors informed the BSE about its plans to raise Rs 4,147 crore through two simultaneous rights issues. The ordinary rights issue is priced at Rs 340 a share while the issue offering shares with lower voting rights is pegged at Rs 305 per share. The funds are being raised to re-finance the $2.3-billion bridge loans taken by Tata Motors to fund its acquisition of Jaguar and Land Rover.

UCO Bank's Public Offer - UCO Bank is planning to go for a follow on public offer of shares by December-end to raise about 500-600 crore. Currently the government holds 75 per cent stake in Kolkata-based bank. Following the FPO, the stake would come down to 53.8 per cent.


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