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Jet expects deal with Etihad in a week

Jet Airways expects to finalise a stake sale deal with Abu Dhabi’s Etihad Airways in a week or so, an executive at the airline, who declined to be named. India’s Civil Aviation Minister Ajit Singh said earlier on Thursday, after meeting the top executives of the two airlines, that Etihad was in talks with Jet for a potential investment in the carrier. The terms of the possible deal have not been disclosed, but a government source said earlier this month […]

Ratnakar Bank finalizes PE investors

Kolhapur-based Ratnakar Bank Ltd is set to raise Rs.330 crore from a group of domestic and global private equity (PE) investors by issuing 30 million new shares, pegging its value at Rs.2,500 crore. Domestic investors Aditya Birla PE, ICICI’s Emerging India Fund, IDFC Spice, Ascent Capital and Faering Capital have confirmed they will invest in the bank, a top Ratnakar Bank official said, declining to be identified because the deal has not yet been sealed. International Finance Corp., a member […]

Turkish firm buys 42% stake in Hind Glass arm

Turkey’s Trakya Cam Sanayii AS, sixth largest global player in float glass, plans to manufacture automotive glasses as well as set up more float glass facilities in India following picking up of a stake in HNG Float Glass Ltd, which has a plant in Gujarat. Hindusthan National Glass & Industries Ltd (HNGI), the largest glass bottle maker in the country, on Friday announced the company and its promoter, the Somany family, are divesting 42.6% stake in HNG Float Glass (HFG) […]

Dabur India promoters pick up stake in DMI Finance

The Burman family, promoters of consumer goods company Dabur India, has acquired a minority stake in DMI Finance, a non-banking finance company (NBFC). The investment marks the Burman family’s entry into the NBFC market and secured lending space. As a result of the investment, Gaurav Burman — who has 20 years of experience in the financial services industry — will join the board of DMI. Established in 2009, DMI Finance was founded by Yuvraj C. Singh and Shivashish Chatterjee, both […]

Sesa acquires balance 49% stake in Liberia project for $33.5 mn

Vedanta Group firm Sesa Goa on Friday said it has acquired remaining 49 per cent stake in Liberia’s Western Clusters project for USD 33.5 million (about Rs 185 crore). “Sesa Goa has acquired the remaining 49 per cent of the outstanding common shares of Western Cluster Ltd (WSL) from Elenilto Minerals & Mining LLC Delaware, for a cash consideration of USD 33.5 million,” the company said. Post this transaction, Sesa’s shareholding in WCL rose to 100 per cent. The company […]

Dalmia Cement takes a further 26 percent stake in Calcom Cement India Ltd

Dalmia Cement (Bharat), has added a further 26% to its stake in Kolkata-based Calcom Cement India Ltd at a price of Rs.77.16 crore (US$14 million). Perhaps most interestingly, since taking a 50% stake in Calcom Cement in January 2012, Dalmia has changed its stance on the overall value of Calcom. This new deal places a value of Rs.296 crore on the company, as opposed to the previous deal, which valued it at Rs.576 crore. As with the previous deal though, […]

PVR buys entire 69.27% promoters stake in Cinemax India

PVR Ltd has informed BSE that the Board of Directors of the Company at its meeting held on November 29, 2012, approved, subject to receipt of relevant consents under applicable law, the purchase of entire 69.27% stake in Cinemax India Limited from the Kanakia family, promoters of Cinemax India Limited at a per share price of Rs. 203.65 and a total consideration of Rs. 394,97,54,278 through Cine Hospitality Private Limited, a wholly owned subsidiary of the Company.The Board also approved […]

Swipe Telecom to raise $20 mn through PE

Pune headquartered Swipe Telecom India Pvt Ltd would be raising $20 million (Rs 110 crore approx) through private equity ( PE) route for expansion, branding and innovation of its products which include mainly tablet PCs. “We already have $ 10 million (Rs 55 crore approx) from a strategic investor Mantra Ventures which is based out of Pune. We hope to raise another $20 million through PE by early next year,” siad CEO of Swipe Telecom Shripal Gandhi. “We are in […]

Adani Ports may buy stake in Vizag Seaport terminal

Adani Ports and Special Economic Zone Ltd (APSEZ), the operator of India’s biggest private port at Mundra in Gujarat, may buy a stake in a privately run multi-commodity terminal at the Union government-controlled Visakhapatnam port in Andhra Pradesh as it seeks to bolster its presence on the country’s eastern coast and expand its port business, three people familiar with the plan said. Mumbai-listed APSEZ is 77.5% owned by Adani Enterprises Ltd, the flagship business of billionaire Gautam Adani. Vizag Seaport […]

Tata Housing turns to US PE player to raise capital

Tata Housing, a wholly owned subsidiary of Tata Sons on Thursday said the company has for the first time raised private equity funding from Atlanta-based Portman Holdings for its luxury project in Bengaluru. The Tatas are now following in the footsteps of Godrej Properties, which has regularly been raising PE funds to optimise its capital requirement and boost its return ratios.

Portman Holdings has invested around Rs 70 crore for 26 per cent equity in Tata Housing’s luxury housing project […]