November 2009
M T W T F S S
« Oct   Dec »
 1
2345678
9101112131415
16171819202122
23242526272829
30  

Contact us

TVS Shriram Growth Fund to invest Rs35 crore in two firms

TVS Shriram Growth Fund, managed by Chennai-based TVS Capital Funds Ltd, will invest Rs35 crore in Bangalore-based Dusters Hospitality Services Pvt Ltd and Mumbai-based Total Solutions Facility Management Pvt Ltd. Total Solutions will be merged with Dusters Hospitality in the next 2-3 months and the invested funds will go into the combined business. Both firms provide facility management services and are headed by brothers Shamsher Puri (Duster Hospitality) and Jasmer Puri (Total Solutions). [...]

Birlas plan $500m realty fund

The Aditya Birla group is launching a $500-million Mauritius-based real estate fund that will target investments in India. The fund, which is called the Aditya Birla India Real Estate Vision Fund, has been launched by the group’s asset management arm, Birla Sun Life Asset Management. The real estate fund has a targeted corpus of $350 million and a greenshoe option of up to $150 million. The greenshoe option of the six-year fund is still open. Sources in the Aditya Birla group confirmed the development. [...]

PVR acquires DT Cinemas

Multiplex chain PVR Ltd Friday said it has acquired the cinema business of DT Cinemas, a subsidiary of DLF Group, in a cash-cum-stock deal. According to the deal, PVR will issue 25.57 lakh shares to DT Cinemas representing 10 percent of the fully diluted paid-up share capital of PVR and make a payment of Rs.20.2 crore, the company said in a statement. DT cinemas has a current portfolio of 29 screens with 26 currently operational and the other three expected to commence operations in six months. [...]

PVR offers 10% equity to Thailand's Major Cineplex Group

Under the above arrangement, Major Cineplex Group Plc. would be investing approx Rs420mn into PVR Limited by subscribing to 25.57 lac of new shares. PVR Ltd., one of the India’s leading retail entertainment companies, announced that it is offering 10% of its equity capital to Major Cineplex Group Plc., one of Thailand’s largest entertainment group. Under the above arrangement, Major Cineplex Group Plc. would be investing approximately Rs420mn into PVR by subscribing to 25.57 lakh new shares. The investment by Major Cineplex in PVR would be done at a price of Rs165 per share, a premium of 19% over the closing stock price of Rs139 on the NSE, on Thursday, 12th November. [...]