|
|
Hyderabad-based micro finance institution (MFI) Basix is planning to raise Rs 200 crore through private equity route this financial year. This is will be the fifth round of private equity infusion in the MFI since 2001. Existing investors in Basix include SIDBI, IFC and private equity players such as Matrix Partners, Lok Capital, Hivos Triodos Fund and Avishkaar Goodwell. This infusion of Rs 200 crore is likely to happen through a new private equity investor. The funds will help in meeting MFI’s growing lending needs with addition of new states such as Gujarat and UP to its network this year. Basix operates across 16 states at present, catering to about 2 million customers. It would also help the MFI maintain the capital adequacy ratio a measure of financial strength of 12 per cent stipulated by the Reserve Bank of India. From April 2011 the CAR would be increased 15 per cent by RBI. […]
The Bombay Stock Exchange (BSE) has acquired the controlling stake in Central Depository Services Ltd (CDSL) by purchasing 16 per cent more from three banks, people with direct knowledge of the deal said. Asia’s oldest stock exchange has bought a 7.5 per cent stake from HDFBA, 4.5 per cent from Bank of Baroda (BoB) and 4 per cent stake from Bank of India(BoI), taking its holding in the depository to 54.5 per cent, these people said. The deal was struck at Rs 50-55 per share, valuing CDSL at Rs 522-575 crore. […]
SBG Projects Investments, a part of Saudi Arabia-based Saudi Binladin Group (SBG), today made an open offer to acquire an additional 20 per cent stake in Maytas Infra at a price of Rs 195.72 per share. SBG Projects has made an open offer to acquire 1,54,23,236 shares, representing 20 per cent stake in the infrastructure company, at Rs 195.72 per share, Maytas Infra, initially promoted by the kins of disgraced Ramalinga Raju of Satyam, said in a public announcement. The offer price is at a 7.32 per cent discount from Friday's closing price of Rs 211.20 on BSE. On June 19, Mauritius-based SBG Projects Investments had acquired 20 per cent, or 1,54,59,133 equity shares, in Maytas Infra, from the present promoter IL&FS at Rs 195.30 per share leading to an investment of around Rs 300 crore. […]
The Reliance Anil Dhirubhai Ambani Group plans to reduce its stake in its telecom tower business, Reliance Infratel Ltd., to 20%-25% from 95%, through sales of stakes to GTL Infrastructure Ltd. and a private equity investor, livemint.com reported Monday, citing two bankers familiar with the plan. The transactions will combine cash and stock, the website reported the bankers as saying, on condition of anonymity. The sale will take place in three stages: 54,000 telecom towers operated by Reliance Infratel and 32,000 GTL Infrastructure towers will be hived off into a special purpose vehicle; the SPV will then sell a stake to a private equity investor; the SPV will then issue shares to Reliance Communications Ltd. and GTL Infrastructure shareholders, and subsequently seek a stock market listing, the website reported one of the bankers as saying. […]
Reliance Industries, or RIL, is planning to buy a 26% stake in India-based Pipavav Shipyard, or PSL, reported The Economic Times. SKIL Infrastructure Group is the promoter of PSL, and holds a 39.5% stake in the company. In March 2010, the group had bought a 19.6% stake from Punj Lloyd, the other major shareholder, through a negotiated deal at INR49.8 per share. Subsequently, it gave an open offer to public for 20% which received weak response. The non-promoter shareholding in PSL is 60.44%, out of which 43% is owned by domestic and foreign institutional investors. Major investors include Trinity Capital which owns 6.89%, New York Life Investment Management India Fund II which owns 4%, Citadel which owns 3.45%, and IL&FS which owns 5.35%. […]
The Saudi Binladin Group has picked up a 20% stake India's Maytas Infra Ltd for 3 billion rupees ($64 million), Maytas said in a statement on Sunday. The Saudi Binladin Group couldn't be reached for comments immediately. The Saudi Binladin Group and IL&FS–the controlling stakeholder in Maytas–will jointly make an open offer to acquire an additional 20% from Maytas' existing investors, in line with regulatory guidelines. The transaction values Maytas at INR193.50 a share, while its shares closed trading on Friday at INR211.20. […]
The BRIC grouping of major emerging powers — Brazil, Russia, India and China — offered especially attractive prospects, according to a panel of SWF managers, bankers and economists discussing the issue. “If people are not allocating more money to things that relate to China, then they are going to have a tough life,” Goldman Sachs' global economic research head Jim O'Neill said. Goldman Sachs expects Chinese GDP to grow by $7 trillion (4.7 trillion pounds) in the next decade, the equivalent of “two more Chinas.” Norway's oil fund has already moved in that direction, and is a major holder of Hong Kong-listed mainland Chinese companies. But restrictions mean this represents an insignificant part of the nearly $500 billion fund. […]
The consortium that owns IPL franchise Kings XI Punjab is in discussions with a number of corporations to sell a stake in the team. “We are in talks with a lot of companies, but have not finalised anything yet,” Mohit Burman, one of the promoters of the franchise, told Cricinfo in an email. However, Burman refused on to confirm or deny a story in the Bangalore Mirror on Friday, which reported the consortium had applied to the BCCI for permission to sell 93% of the team to a private equity firm in London. The paper claimed the remaining 7% would remain with Preity Zinta, who apparently wishes to stay on as brand ambassador. […]
To be in addition to Rs 500 cr through PE in SPVs. Bangalore-based real estate company, Brigade Enterprises has announced that it will raise up to Rs 750 crore by the issue of equity-based securities to various investors by means of public or private offering or qualified institutional placement or through preferential share allotment. However, there is no clarity yet on the preferable route and timing of this fund raising activity. The plan to raise up to Rs 750 crore will be in addition to company’s earlier plan of raising Rs 500 crore through private equity investment to ramp up group’s hospitality and retail verticals through special purpose vehicle. J P Morgan is running the mandate to rope in PE investors and a deal is expected by the end of August. The realtor, which has plans to develop around eight to 10 million sq ft of area this fiscal, will utilise this fund flow to increase its foot print in retail and hospitality segment. […]
Reliance Industries may buy 26 per cent stake in hospital chain Fortis Healthcare, thereby making its footprint in healthcare sector, the Financial Express reported on Thursday. Citing industry sources, the report said Reliance had approached Malvinder and Shivinder Singh who own Fortis. Fortis last week unveiled its plans to raise about $1.2 billion to acquire stake in Singapore hospital chain Parkway Holdings. Malaysian sovereign wealth fund Khazanah is also in line to acquire the stake in the Singapore hospital chain and the Singapore Securities regulator has given a deadline of July 30 for the acquisition. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|