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Anil Group buys Vigo Biotech

Ahmedabad-based Anil Group has firmed up plans to enter the food processing and hospitality business. On Monday, it announced the acquisition of a 90% stake in Vadodara-based Vigo Bio-Tech Dairy. The deal size is expected to be around Rs 22-25 crore. Besides investing close to Rs 100 crore to ramp up this newly acquired dairy business, the group will also invest an additional Rs 15 crore to open a chain of restaurants. Anil Group consists of the flagship Anil Products Limited, one of the oldest and largest corn wet millers in India. It also comprises of Anil Hospitality Ventures Limited and Anil Biochem Limited. […]

India Inc favours QIPs over PE deals

Qualified institutional placements (QIPs) appear to be crowding out private equity firms (PE) in fund-raising activity of public listed companies in India. In the current year, while there was a sharp rebound in India Inc’s fund-raising from institutional investors through QIPs, PE deals in listed companies remained depressed. Somasekhar Sundaresan, partner at corporate law firm JSA said, “The stock market is always the biggest competitor to private equity with its valuations, which come without the strings of governance discipline attached. Corporates will continue to opt for QIPs if the market does well.” […]