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Tuesday, June 22, 2010

Blog Alert for DEALCURRY - Mergers & Acquisitions, Private Equity, I.P.O. / Offerings, Venture Capital, Real Estate, Regulatory,... , Jun 21, 2010

New Posts to DEALCURRY - Mergers & Acquisitions, Private Equity, I.P.O. / Offerings, Venture Capital, Real Estate, Regulatory,... on Jun 21, 2010:

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1) Maytas Infra To Sell 20% To SBG Projects Via Share Issue
http://www.dealcurry.com/20100621-Maytas-Infra-To-Sell-20-To-SBG-Projects-Via-Share-Issue.htm

SBG Projects Investments Limited will pick up 20% stake in Maytas Infra Limited for 300 Cr.

The company will pay around Rs 195.30 per share for 15.46 Mn shares to be issued on a preferential allotment basis.

The deal will make Mauritius-registered SBG Projects a co-promoter in Maytas.

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2) IDFC AMC May Sale 26% Stake To Foreign Investor
http://www.dealcurry.com/20100621-IDFC-AMC-May-Sale-26-Stake-To-Foreign-Investor.htm

IDFC Asset Management Co. Ltd is looking for global fund manager as a strategic partner by diluting 26% stake.This strategic partner will either manage the fund or advise foreign flow of funds into the Indian equity market.IDFC acquired the asset management company in March 2008 from Standard Chartered Bank for $205 mn (Rs.820 Cr). It had paid 5.67% of the then total AUM of Rs.14,141 Cr.

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3) Jyothy Laboratories To Raise Rs 300 CR Through QIP
http://www.dealcurry.com/20100621-Jyothy-Laboratories-To-Raise-Rs-300-CR-Through-QIP.htm

Jyothy Laboratories Ltd has announced to raise Rs.300 Cr via QIP.
The company will use the fund for its expansion plans.
FMCG firm, Jyothy Labs is engaged in manufacturing and marketing of fabric whiteners, soaps, detergents, mosquito coils, incense sticks and personal care products. It is known for its flagship brand ‘Ujala’.

The company has 21 manufacturing facilities in 14 locations across India.

It reported consolidated net sales of Rs.598 Cr for 2009-10 with net profit of Rs.74.3 Cr for the same period.

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4) Ashoka Buildcon Files DRHP With SEBI
http://www.dealcurry.com/20100621-Ashoka-Buildcon-Files-DRHP-With-SEBI.htm

Ashoka Buildcon Ltd has filed DRHP with SEBI to raise Rs.225 Cr through IPO.The IPO comprises of a fresh issue of 81 lakh shares.The proceeds will be used to invest in one of its subsidiaries, Ashoka Highways (Bhandara) Ltd, for its working capital requirements, capex plans and to repay outstanding loans of its subsidiaries.IDFC-SSKI, Enam Securities and Kotak Mahindra Capital are book running lead managers to the issue.

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5) BSE Acquires 16% Stake In CDSL
http://www.dealcurry.com/20100621-BSE-Acquires-16-Stake-In-CDSL.htm

BSE has acquired an additional 16% stake in Central Depository Services Limited for Rs 84-92 Cr from HDFC Bank(7%), Bank of Baroda(4.5%) and Bank of India(4%). This deal values the depository at Rs 522-575 Cr.

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6) CIPCL To Sell Stake in Bhadrawati Power Project
http://www.dealcurry.com/20100621-CIPCL-To-Sell-Stake-in-Bhadrawati-Power-Project.htm

Central India Power Company Limited plans to sell stake in proposed 1,082MW coal-based power plant in Bhadrawati in Maharashtra for which the Aditya Birla Group, Hinduja Group, Reliance Industries and Jaypee Group have bid.

CIPCL has appointed SBI Capital Markets to find a strategic partner to build the 1,000-MW power station. The project is estimated to cost around $1 Bn.

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7) SPML Infra To Raise PE Funding For Bhiwandi Water Project
http://www.dealcurry.com/20100621-SPML-Infra-To-Raise-PE-Funding-For-Bhiwandi-Water-Project.htm

SPML Infra is looking to raise upto Rs 300 Cr from PE investors for its Rs 700 Cr Bhiwandi water project.

The company has created a SPV - SPML Bhiwandi Water Supply Infra Limited for the project and will raise the balance Rs 400 Cr though debt. The project is expected to be operational by 2012-13. The company has started negotiations with US based Water Asset Management and Veolia Water for the funds.

SBI Capital Markets is advising SPML on the deal.

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Saturday, June 19, 2010

Blog Alert for DEALCURRY - Mergers & Acquisitions, Private Equity, I.P.O. / Offerings, Venture Capital, Real Estate, Regulatory,... , Jun 18, 2010

New Posts to DEALCURRY - Mergers & Acquisitions, Private Equity, I.P.O. / Offerings, Venture Capital, Real Estate, Regulatory,... on Jun 18, 2010:

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1) Orbit Corp To Acquire Real Estate Developer Anaya Infrastructure
http://www.dealcurry.com/20100618-Orbit-Corp-To-Acquire-Real-Estate-Developer-Anaya-Infrastructure.htm

Orbit Corporation has announced to acquire 100% stake in Anaya Infrastructure Pvt Ltd.Orbit's board has also approved to raise Rs.1000 Cr through QIP by diluting 20% stake in the company. It has also proposed to raise the borrowing limit of the company from Rs.1000 Cr to Rs.2000 Cr.Incorporated in 2007, Mumbai based real estate developer, Anaya Infrastructure is promoted by Sanjay M Pihulkarg and Amarjee B Jha. The company constructs and develops commercial, residential, institutions, educational campuses and other real estate properties.

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2) RCom May Sell Telecom and Fibre Optic Business To RIL
http://www.dealcurry.com/20100618-RCom-May-Sell-Telecom-and-Fibre-Optic-Business-To-RIL.htm

Reliance Communications is planning to sell its fibre optic cables and telecom tower businesses to Reliance Industries (RIL).If the deal materializes as per rumour, RCOM may also provide infrastructure and back-end support to RIL's telecom business.
RIL will use RCom’s tower and fibre optic business for its broadband and telecom business.

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3) Shriram Transport Plans Rs 500 Cr NCD
http://www.dealcurry.com/20100618-Shriram-Transport-Plans-Rs-500-Cr-NCD.htm

Shriram Transport Finance is planning to raise up to Rs.500 Cr through Non Convertible Debentures (NCDs) inorder to bring down its exposure on floating credit.This will be Shriram's third NCD since 2009. It raised around Rs.1000 Cr in July 2009 and another Rs.500 Cr in May 2010. By end of 2010, it is planning another Rs.500 Cr NCD.

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4) Religare To Buy AMCs In US
http://www.dealcurry.com/20100618-Religare-To-Buy-AMCs-In-US.htm

Religare Enterprises Limited plans to buy 51-74% stake in a couple of boutique asset management companies in the US and merge their corpus with its own in future.In 2010-11, Religare expects to get about $14 Bn of assets under control from the planned series of buyouts.

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5) Cognizant Acquires Paris Based IT Testing Firm - Galileo Performance
http://www.dealcurry.com/20100618-Cognizant-Acquires-Paris-Based-IT-Testing-Firm-Galileo-Performance.htm

Cognizant Technology Solutions has acquired Paris based IT testing and consulting company - Galileo Performance.

Galileo Performance is a consulting firm dedicated to the measurement, management and continuous optimization of IT system performance.Last year in Oct, Cognizant acquired UBS India Service Centre, a captive unit of Swiss based UBS for about $75 mn.

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6) Pipavav Shipyard May Sell Strategic Stake to RIL
http://www.dealcurry.com/20100618-Pipavav-Shipyard-May-Sell-Strategic-Stake-to-RIL.htm

Reliance Industries may take 26% stake in Pipavav Shipyard through a preferential issue.

PSL promoter Nikhil Gandhi plans to issue 26% to a strategic investor who will be from the oil and gas industry.The investor will have to make an open offer at the same price after the deal.

Currently the promoter group holds 39.56% in PSL. They recently bought 19.6% from Punj Lloyd, which was a co-promoter in the company. It is bringing a new partner to replace Punj Lloyd's skills.

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7) Brigade Enterprises To Raise Rs 750 Cr For Hospital And Retail Vertical Expansion
http://www.dealcurry.com/20100618-Brigade-Enterprises-To-Raise-Rs-750-Cr-For-Hospital-And-Retail-Vertical-Expansion.htm

Brigade Enterprises is raising up to Rs.750 Cr through issue of equity-based securities by public or private offering / or qualified institutional placement / or preferential share allotment.The funds will be utlilised for its expansion in hospital and retail verticals.Company is also planning to raise Rs.500 Cr through private equity for its expansion plans by selling some stake in its hospitality subsidiary, Brigade Hospitality Services.J P Morgan is the lead manager for PE deal which is expected by August end.

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8) HAFED To Pick 15% stake in Ahmedabad Commodity Exchange
http://www.dealcurry.com/20100618-HAFED-To-Pick-15-stake-in-Ahmedabad-Commodity-Exchange.htm

Haryana State Cooperative Supply & Marketing Federation Limited plans to pick up 15% stake in the Ahmedabad Commodity Exchange Limited.Ahmedabad Commodity Exchange promoted by Kotak Group is recognized for trading castorseed, cottonseed, cottonseed oil & oilcake. Kotak bought 51% stake in the bourse becoming the anchor investor.

Friday, June 18, 2010

Blog Alert for DEALCURRY - Mergers & Acquisitions, Private Equity, I.P.O. / Offerings, Venture Capital, Real Estate, Regulatory,... , Jun 17, 2010

New Posts to DEALCURRY - Mergers & Acquisitions, Private Equity, I.P.O. / Offerings, Venture Capital, Real Estate, Regulatory,... on Jun 17, 2010:

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1) Ultra Space Developers Issues NCD Worth Rs 175 Cr For Kalina Project
http://www.dealcurry.com/20100617-Ultra-Space-Developers-Issues-NCD-Worth-Rs-175-Cr-For-Kalina-Project.htm

Ultra Space Developers Private Limited has raised NCD of Rs.175 Cr through private placement to fund its residential project in Kalina, Mumbai.The NCD is primarily secured by first mortgage of the land on which the proposed project is to come up and by pledge of shares held by promoters in the SPV, in favor of the debenture holders for a peiod of 42 months.Nishith Desai Associates acted as legal and tax counsel to the investors.

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2) Manipal Education Sells MNE Technologies To Italy's Ital Telematic
http://www.dealcurry.com/20100617-Manipal-Education-Sells-MNE-Technologies-To-Italy-s-Ital-Telematic.htm

Italy’s Ital Telematic and Biomedical Services (TBS) has bought MNE Technologies for $8.475 mn (Rs.38.2 Cr).The deal values MNE at an enterprise value of 9.5 times its EBITDA of $894,490 at March 31, 2010.Founded in 2000, MNE Technologies Pvt Ltd is a medical equipment servicing firm which was incubated by Manipal Education and Medical Group (MEMG). The transaction marks TBS Group entry in the Indian market.

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3) Binani Cement To BuyBack 20.07% Of Its Equity For Rs130.5 Cr
http://www.dealcurry.com/20100617-Binani-Cement-To-BuyBack-20-07-Of-Its-Equity-For-Rs130-5-Cr.htm

Binani Cement has announced to buy back 14.5 mn shares of the company at Rs.90 each for around Rs.130.5 Cr.The buy-back represents 20.07% of the paid-up equity share capital and free reserves of the company as on March 31, 2010.The offer opens on July 27 and closes on Aug. 10. Keynote Corporate Services is the lead manager to the company’s offer.

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4) ICICI Venture Hires Manikkan Sangameswaran From Babrock
http://www.dealcurry.com/20100617-ICICI-Venture-Hires-Manikkan-Sangameswaran-From-Babrock.htm

ICICI Venture has hired Manikkan Sangameswaran from Babcock & Brown Infrastructure to head its soon-to-be-launched infrastructure fund.Manikkan was chief of Babcock & Brown India Pvt Ltd, the local arm of Australian PE firm Babrock and Brown Ltd.

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5) Reliance Capital Buys 18% in Bloomberg UTV from Promoters
http://www.dealcurry.com/20100617-Reliance-Capital-Buys-18-in-Bloomberg-UTV-from-Promoters.htm

Reliance Capital will acquire 18% in Bloomberg UTV, the business channel promoted by Ronnie Screwvala and Bloomberg LP, for an undisclosed amount.

Post the acquisition the UTV promoters will hold 67% and Bloomberg will continue to hold 15% in the channel. The channel holds the no. 2 position across 8 metros.

Anil Ambani promoted RCL also owns 15% and 10% in Network 18 group and TV Today respectively

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6) ArcelorMittal May Buy Stake in Ramsarup Industries
http://www.dealcurry.com/20100617-ArcelorMittal-May-Buy-Stake-in-Ramsarup-Industries.htm

ArcelorMittal is planning to buy stake in Ramsarup Industries.The acquisition would benefit ArcelorMittal to utilize iron ore mines of Ramsarup for its Orissa steel project.

If the deal materializes, may have a mezzanine structure, where convertible warrants will be issued and would translate into 25% equity on conversion. Later, the strategic investor could raise holding in the company.

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7) Resurgere Mines To Raise Rs 250 Cr Via GDR
http://www.dealcurry.com/20100617-Resurgere-Mines-To-Raise-Rs-250-Cr-Via-GDR.htm

Resurgere Mines & Minerals India Limited plans to raise Rs 250 Cr through sale of GDRs.

The minimum GDR issue price has been fixed at Rs 75 per share.

The company will use the net proceeding of the issue for capital expenditure and to reduce the debt.

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8) IVRCL Infra To Raise Funding For Maharashtra-Goa Highway Project
http://www.dealcurry.com/20100617-IVRCL-Infra-To-Raise-Funding-For-Maharashtra-Goa-Highway-Project.htm

IVRCL Infrastructures and Projects Ltd is looking for a strategic investor in its SPV for Maharashtra-Goa highway project worth Rs.3,100 Cr. It is also planning to sell some of its land bank for Rs.100 Cr this fiscal and will dilute up to 5% stake from its present holding of 80.5% to infuse capital for further investments.

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9) Khazanah Nasional To Acquire Stake In Aman Resorts
http://www.dealcurry.com/20100617-Khazanah-Nasional-To-Acquire-Stake-In-Aman-Resorts.htm

Malaysian wealth fund - Khazanah Nasional is acquiring a controlling stake in Aman Resorts from DLF Limited for about $300-350 Mn. The deal doesnot include Aman Resorts’ New Delhi property.

Goldman Sachs and JP Morgan are advising DLF on the transaction.

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10) Baring PE To Invest Rs 350 Cr in SuperMax India
http://www.dealcurry.com/20100617-Baring-PE-To-Invest-Rs-350-Cr-in-SuperMax-India.htm

Baring Private Equity India plans to invest Rs 350 Cr in SuperMax Corporation's Indian entity - Vidyut Metallics Private Limited.

The company will use the funds to expand its geographical spread and for extensions of the product line.

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11) Rajoo Engineers Ltd Acquires Wonderpack Industries For Rs 30 Cr
http://www.dealcurry.com/20100617-Rajoo-Engineers-Ltd-Acquires-Wonderpack-Industries-For-Rs-30-Cr.htm

Rajkot based - Rajoo Engineers Ltd has acquired Wonder Pack Industries for Rs 30 Cr.

Post acquisition, Wonderpack will operate as a separate division of Rajoo Engineers, under the leadership of Amit Shah, the founder and managing director of Wonderpack, who has joined the Board of Rajoo Engineers.

Thursday, June 17, 2010

Blog Alert for DEALCURRY - Mergers & Acquisitions, Private Equity, I.P.O. / Offerings, Venture Capital, Real Estate, Regulatory,... , Jun 16, 2010

New Posts to DEALCURRY - Mergers & Acquisitions, Private Equity, I.P.O. / Offerings, Venture Capital, Real Estate, Regulatory,... on Jun 16, 2010:

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1) Tiger Global Invests $10 Mn in Flipkart Online
http://www.dealcurry.com/20100616-Tiger-Global-Invests-10-Mn-in-Flipkart-Online.htm

Flipkart Online Services Pvt Ltd has raised its second round of venture funding from Tiger Global Management.The investment is believed to be of around $10 mn which would be utilized for Flipkart’s expansion.Founded in 2007, Bangalore based Flipkart runs the online retail book firm Flipkart.com and also offers products in movies, games and music.

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2) Sajjan Jindal Group Raises Rs 650 Cr From KKR's NBFC Multiflow Financial Services
http://www.dealcurry.com/20100616-Sajjan-Jindal-Group-Raises-Rs-650-Cr-From-KKR-s-NBFC-Multiflow-Financial-Services.htm

Sajjan Jindal group’s privately-held investment company has received Rs.650 Cr from KKR’s NBFC Multiflow Financial Services Pvt Ltd.
The funds would be used to part-finance Sajjan Jindals group’s Rs.7,000 Cr expansion plans in steel. The deal is expected to be in the form structured sponsored finance, a mixture of fixed income payments, equity and cash.
Repayment of the loan will begin after three years with equity linked returns.

Wednesday, June 16, 2010

Blog Alert for DEALCURRY - Mergers & Acquisitions, Private Equity, I.P.O. / Offerings, Venture Capital, Real Estate, Regulatory,... , Jun 15, 2010

New Posts to DEALCURRY - Mergers & Acquisitions, Private Equity, I.P.O. / Offerings, Venture Capital, Real Estate, Regulatory,... on Jun 15, 2010:

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1) Cipla To Acquire Stakes In Two BioTech Companies
http://www.dealcurry.com/20100615-Cipla-To-Acquire-Stakes-In-Two-BioTech-Companies.htm

Cipla is acquiring stakes in 2 BioTech companies. It is acquiring 40% stake in Indian biotech company and 25% stake in Hong Kong based biotech company through subscription of fresh shares.

The acquisition of the unknown Indian biotech company will give Cipla the rights to market all its products in India and in international markets.
The international acquisition will be made through Cipla’s wholly owned overseas subsidiary. The biotech company is setting up a state of the art facility for biosimilar products in Shanghai. The total investment for both the companies is estimated to be about $ 65 Mn in a phased manner over a period of 3 years.

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2) Star India To Exit Balaji Telefilms
http://www.dealcurry.com/20100615-Star-India-To-Exit-Balaji-Telefilms.htm

Star India is selling its 26% stake in Balaji Telefilms. Reliance Big Entertainment may buy the stake in the television content service provider.

If the transaction goes through, Reliance Big Entertainment will have to make a mandatory open offer to buy another 20% stake in the company.

Star India had acquired the stake through its affiliate Asian Broadcasting FZ-LLC for Rs 123 Cr in 2004.

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3) FrontPoint Management Picks Up More Shares in Parkway Holdings
http://www.dealcurry.com/20100615-FrontPoint-Management-Picks-Up-More-Shares-in-Parkway-Holdings.htm

UK-based FrontPoint Management LLP - a unit of Morgan Stanley Asia - has bought 110,000 shares of Fortis Healthcare- controlled Singapore's Parkway Holdings from the open market for S$ 3.85 a share.Morgan Stanley Asia is acting as independent advisor to the Parkway board on the share purchase offer made by Malaysian investment firm Khazanah.

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4) Fatipe Network Withdraws IPO On Poor Response
http://www.dealcurry.com/20100615-Fatipe-Network-Withdraws-IPO-On-Poor-Response.htm

Fatpipe Networks has withdrawn its initial public offer (IPO) due to poor response.It received only 88% of the subscription till the close of the issue yesterday.Fatpipe manufactures a range of appliances based on its technology for data transmission over multiple lines that provides highly reliable and redundant Internet/Intranet access solution available. It also offers data security with encryption protocols.

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5) RCom To Sell Stake In Reliance Infratel After Restructuring
http://www.dealcurry.com/20100615-RCom-To-Sell-Stake-In-Reliance-Infratel-After-Restructuring.htm

Reliance Communications Limited plans to restructure its telecom towers arm, Reliance Infratel Limited to pass on ownership to a strategic investor.The company is in talks with potential buyers’ i.e American Tower Company, GTL Infrastructure and a consortium of PE Blackstone and Crown Castle International.RComm’s residual 95% stake in RTIL is valued at $6.40 Bn.

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6) SBI Buys Back 13.84% Stake In SBICAPS From ADB
http://www.dealcurry.com/20100615-SBI-Buys-Back-13-84-Stake-In-SBICAPS-From-ADB.htm

SBI is buying back its 13.84% stake in SBI Capital Markets Limited from ADB. ADB had acquired the 13.84% stake in SBICAPS in Jan'97 for $21.2 Mn. Post transaction, SBI CAPS will operate as a wholly owned subsidiary of SBI.

ADB had acquired the stake as a part of its efforts to provide specific assistance toward privatisation of public sector enterprises.

Tuesday, June 15, 2010

Blog Alert for DEALCURRY - Mergers & Acquisitions, Private Equity, I.P.O. / Offerings, Venture Capital, Real Estate, Regulatory,... , Jun 14, 2010

New Posts to DEALCURRY - Mergers & Acquisitions, Private Equity, I.P.O. / Offerings, Venture Capital, Real Estate, Regulatory,... on Jun 14, 2010:

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1) UCO Bank Plans FPO For Rs 500 Cr
http://www.dealcurry.com/20100614-UCO-Bank-Plans-FPO-For-Rs-500-Cr.htm

UCO Bank is planning to raise Rs.500 Cr through follow-on public offer in July by issuing six crore equity shares.The money raised will be utilized for its expansion.Recently, Government of India has approved the infusion of Rs.375 Cr into UCO Bank.

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2) Reliance Venture Invests In Gradatim IT Ventures
http://www.dealcurry.com/20100614-Reliance-Venture-Invests-In-Gradatim-IT-Ventures.htm

Gradatim IT Ventures has raised Series A round of funding from Reliance Venture. The investment is reported to be between $7-9 mn.Bangalore based Gradatim IT Ventures (India) Pvt Ltd is a privately held IT company with operations in India, Australia, Singapore and Dubai with focus on Business Process Utility (BPU) providing services across the banking and insurance industries, especially microfinance space. Gradatim’s clients include MFIs and NBFC’s, Insurance providers across Asia, Australia and Dubai.

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3) IBM To Acquire Indian Software Companies
http://www.dealcurry.com/20100614-IBM-To-Acquire-Indian-Software-Companies.htm

IBM is looking for acquisitions for about $20 bn in India and across the globe for over five years.In India, it is targeting companies with proprietary software products that cater to small and medium enterprises (SMEs).

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4) Sun TV's Maran To Buy Stake In SpiceJet From Kansagra and Wilbur Ross
http://www.dealcurry.com/20100614-Sun-TV-s-Maran-To-Buy-Stake-In-SpiceJet-From-Kansagra-and-Wilbur-Ross.htm

Kalanithi Maran of Sun TV Network Ltd is set to buy 37.75% stake in SpiceJet Ltd for around Rs.800 Cr from Bhupendra (Bhulo) Kansagra and Wilbur L. Ross.The stake will be bought through Maran’s personal capacity and through its holding company KAL Airways.Maran, will make an open offer to SpiceJet’s minority shareholders to acquire an additional 20% stake from today.

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5) Infosys Plans Small Acquisitions in Europe
http://www.dealcurry.com/20100614-Infosys-Plans-Small-Acquisitions-in-Europe.htm

Infosys Technologies is planning for small acquisitions in France and Germany to expand its footprint in European markets. Infosys wants to penetrate in sectors like manufacturing and retail in Europe through inorganic growth.

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6) SREI Equipment Finance To Raise $50 Mn Through ECBs
http://www.dealcurry.com/20100614-SREI-Equipment-Finance-To-Raise-50-Mn-Through-ECBs.htm

Srei Equipment Finance Private Limited plans to raise $50 Mn through ECBs from DBS Bank Limited.

The money would be repaid over a period of 7 years and the average cost is around 8%.SREI BNP Paribas is expecting fresh disbursal of Rs 9,000-Rs 10,000 Cr during FY11.

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7) Dhanalaxmi Bank To Raise Rs 350 Cr Through QIP
http://www.dealcurry.com/20100614-Dhanalaxmi-Bank-To-Raise-Rs-350-Cr-Through-QIP.htm

Dhanalaxmi Bank is planning to raise Rs 350 Cr by diluting 23% of its equity through qualified institutional placement (QIP) in third week of July.The funds raised will be utilized for its business growth.IDFC-SSKI and JM Financial are investment bankers for bank’s QIP.

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8) New Bombay Printing & Dyeing Mills To Acquire Perfect Octave
http://www.dealcurry.com/20100614-New-Bombay-Printing-Dyeing-Mills-To-Acquire-Perfect-Octave.htm

New Bombay Printing & Dyeing Mills Limited plans to acquire Perfect Octave Private Limited for an undisclosed sum.The company plans to enter in the media business making the acquisition of strategic importance.Perfect Octave, promoted by Ratish Tagde, is an event management company in the music segment.

Saturday, June 12, 2010

Blog Alert for DEALCURRY - Mergers & Acquisitions, Private Equity, I.P.O. / Offerings, Venture Capital, Real Estate, Regulatory,... , Jun 11, 2010

New Posts to DEALCURRY - Mergers & Acquisitions, Private Equity, I.P.O. / Offerings, Venture Capital, Real Estate, Regulatory,... on Jun 11, 2010:

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1) Reliance Industries Buys 95% Stake In Infotel Broadband
http://www.dealcurry.com/20100611-Reliance-Industries-Buys-95-Stake-In-Infotel-Broadband.htm

Reliance Industries has bought 95% stake in Infotel Broadband Services for Rs.4,800 Cr. Infotel will issue fresh equity shares to RIL. Infotel, promoted by Anant Nahata of HFCL, has won pan India Broadband Wireless Access spectrum license for 22 circles for around Rs 12,848 crore ($2.7 billion).

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2) Nexus' Second Agro Investment - Commodity Warehousing Firm, Sohan Lal
http://www.dealcurry.com/20100611-Nexus-Second-Agro-Investment-Commodity-Warehousing-Firm-Sohan-Lal.htm

Sohan Lal Commodity Management (SLCM) has raised Rs.10 Cr from Nexus Venture Partners. SLCM will use the funds to expand its presence and warehousing capacity.SLCM provides agri-commodity warehouse management and procurement solutions.Sandeep Singhal of Nexus Venture Partners will join SLCM's board.

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3) Firstsource May Acquire Barclaycard's Teesside Centre
http://www.dealcurry.com/20100611-Firstsource-May-Acquire-Barclaycard-s-Teesside-Centre.htm

Firstsource Solution is set to buy Barclaycard's cutomer service centre in Teesside, UK.

If the deal is finalised, Firstsource will take over assets of the centre and deliver customer care for Barclays bank’s credit card and payments business in UK.

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4) Gensol Launches Rs 350 Cr Renewable Energy Focused Fund
http://www.dealcurry.com/20100611-Gensol-Launches-Rs-350-Cr-Renewable-Energy-Focused-Fund.htm

Gensol Consultants Private Limited has raised a Rs 350 Cr fund - Gensol renewable energy Fund. The amount for the fund has been raised both through internal accruals as well as from institutional investors who look to gain from carbon trading.

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5) SK Telecom May Acquire 26% In Videocon Telecommunication
http://www.dealcurry.com/20100611-SK-Telecom-May-Acquire-26-In-Videocon-Telecommunication.htm

Korea based - SK Telecom may acquire a 26% stake in Videocon Telecommunications Ltd. The Dhoot Family wants $767 Mn for the stake, valuing the company at $2.9 Bn. The funds will be used for expansion.

The Dhoot family was in talks with UAE based Etisalat, Turkey based Turkcell and Vivendi SA, but the deal failed over valuation differences.

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6) Orchid Chemicals To Acquire US- Based Karalex Pharma
http://www.dealcurry.com/20100611-Orchid-Chemicals-To-Acquire-US-Based-Karalex-Pharma.htm

Orchid Chemicals & Pharmaceuticals Limited will acquire US- based Karalex Pharma LLC in an all cash deal for an undisclosed amountOrchid Chemicals is planning to file for 50 new U.S. FDA approvals by March 2012. The acquisition will be beneficial to Orchid as it plans to enter the US market on it own in the near future.

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7) HCC To Raise Rs 500 Cr For Infrastructure Projects
http://www.dealcurry.com/20100611-HCC-To-Raise-Rs-500-Cr-For-Infrastructure-Projects.htm

HCC is planning to raise upto Rs 500 Cr by selling 20-30% stake in its infrastructure arm - HCC Infrastructure Ltd. It has already initiated talks with domestic and foreign infrastructure funds. A deal is expected in three months.

The funds will be used by HCC to fund its capex requirements.

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8) IL&FS PE May Invest Rs.300 Cr in Orbit Corp's SPV
http://www.dealcurry.com/20100611-IL-FS-PE-May-Invest-Rs-300-Cr-in-Orbit-Corp-s-SPV.htm

Orbit Corporation to sell stake in one of its Nepean Sea Road projects for around Rs.300 Cr to IL&FS Private Equity Fund.
Orbit is also planning to raise Rs.1000 Cr through QIP and Rs.1000 Cr through guarantees to fund its capex plans as it is looking to buy land banks at Matunga, Sion, Khetwadi, Opera House, Malabar Hill, Cooperage, Cuff Parade and Colaba.