October 2010
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IDFC PE to swap stake in SE Forge

IDFC Private Equity Co. Ltd, the private equity (PE) arm of Infrastructure Development Finance Co. Ltd (IDFC), will swap its minority stake in SE Forge Ltd for shares in its listed parent company Suzlon Energy Ltd, the largest wind turbine maker in India. On Monday, Suzlon informed the Bombay Stock Exchange that its board will meet to consider an issue of 31.99 million equity shares of '2 each to IDFC Private Equity Fund III (IDFC PE) by way of preferential allotment. After the stock swap, SE Forge will become a wholly owned subsidiary of Suzlon. “This will give us an opportunity to take a broader exposure in multiple components through a stake in Suzlon,” said S.G. Shyam Sundar, managing director, IDFC PE. “It's a methodology through which we can look at liquidity.” […]

Kalpataru Power to acquire 20% stake in JMC Projects

Power utility company Kalpataru Power Transmission Ltd said it will buy 20% stake in its subsidiary company JMC Projects (India) Ltd, at Rs207 a share, in cash. Kalpataru Power proposes to buy 52.8 lakh shares representing 20.2% of the post preferential issue paid up capital consisting of 20% of the emerging voting capital of JMC Projects, Kalpataru said in filing with the Bombay Stock Exchange (BSE). The offer will open for subscription on 29 November 2010 and close on 10 December 2010, the filing said. Collins Stewart Inga Pvt Ltd is manager to the offer. […]