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Denmark-based Zodiak Television has agreed to acquire 35 per cent stake in Indian production house Sol. The two parties have entered into a memorandum of understanding (MoU) and the deal is subject to due diligence and final agreements. Under the agreement, Zodiak Television World, the distribution arm of Zodiak Television Group, will licence and distribute Sol's programming internationally, excluding India. According to an official release, the two companies will now cooperate on actively developing Sol as a company with the aim of Zodiak increasing its stake in a later stage. […]
Powerica Limited, a leading genset manufacturer and provider of power solutions announced that its Board had approved an issue of equity shares to Standard Chartered Private Equity. The total investment by the fund will be USD 50 mn (Rs 200 crore). Powerica Limited, an ISO: 9001-2000 Company has been providing Power Solutions with CUMMINS engine powered generating sets to Indian industries for well over 27 years and is operating in India with 8 manufacturing units – in Navi Mumbai, Daman, Silvasa, Bengaluru and Chennai-SEZ and has 16 Sales and Marketing offices. “The funds would be deployed in upgrading the existing manufacturing, marketing and execution facilities and also for opening a new state of the art integrated generating set manufacturing facility at Khopoli (on the Mumbai-Pune Express Highway) on a recently acquired 22 acre plot,” said Naresh Oberoi, Managing Director, Powerica Limited. The plant at Khopoli will also house complex control panel manufacturing facilities, regularly required by large and multi-genset users. […]
It has been learnt that, Bharti Airtel is in talks to sell around 10% in its hived tower company `Bharti Infratel` to a private equity (PE) player for around USD 1.1 billion, reports Economic Times. According to sources, the company has been in talks with two leading PE players for the deal, namely, Singapore government`s investment arm Temasek and US-based Warburg Pincus. The company however, is currently in the process of transferring its mobile telecom towers and related infrastructure to Infratel, its wholly-owned subsidiary. The company had about 40,000 towers during March 2007, and as part of an ongoing USD 3.5 billion expansion plan it is currently in the process of doubling the numbers by the fiscal end. Last week, the company announced that its subscriber base has crossed 50 million. It has seen around 90% increase in subscribers from 19.6 million in financial year 2006 to 37 million in the financial year 2007. Relince Communications recently completed the private placement of 5% in its telecom infrastructure company, Reliance Telecom Infrastructure (RTIL) for Rs 270 billion and Bharti`s move to unlock value in its tower arm follows it. […]
Kotak Mahindra Bank is set to raise around $400 million through a qualified institutional offering this week. The private sector bank is in talks with a string of investors including funds of Warren Buffett and other strategic investors for the proposed placement. The bank may issue 17 million equity shares (around 5% equity) to institutional investors. It has also sounded out some of the private equity players, foreign insurance firms and other bluechip investors. The bank is also said to be in talks with T Rowe Price. At present, Warburg Pincus holds 9.14% in the bank. The issue is likely to be completed in the next few days. Sources say the bank is looking at placing shares at around Rs 1,050 per share. Kotak Mahindra shares ended at Rs 959.45 on BSE on Friday. The stock has moved 31% in the last one month, and 4% last week. The deal would enable the bank raise around Rs 1,700 crore. Citi is the advisor to the issue. […]
Hyderabad-based GVK Bio, a joint venture (JV) company between GVK group and DS Brar, former CEO of Ranbaxy Laboratories, plans to raise Rs 1 billion by way of private equity (PE), reports Business Standard. The company, engaged in providing contract research services, will raise the capital by end of 2007 to fund its expansion plans. The company is setting up a new campus near Hyderabad and also is looking at inorganic growth. GVK Bio wants to take the PE route, in a bid to establish a basis for valuation when the company goes public. The company aims at Rs 2 billion in revenues in 2007-08. The company has opened a new drug discovery research centre dedicated to Wyeth Pharmaceuticals with whom it signed a 5-year USD 45-50 million contract in January.(My Iris) […]
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