September 2010
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Reliance Cap buys 8.68% in Trent for Rs 21.2 cr

Tata group firm Trent Ltd today said Anil Ambani-promoted Reliance Capital has bought 8.68 per cent stake in it for Rs 21.2 crore, marking ADA Group's entry into the retail sector. In a filing to the Bombay stock Exchange (BSE) today, Trent Ltd said Reliance Capital purchased 3,86,582 shares through a rights subscription on August 31. Click here to visit SME Buzz Also Read Related Stories News Now – Reliance Capital fund buys 8.7% in retailer Trent – Group not pushing me out, my desire to quit: Tata – Tata Chemicals to spend Rs 50 cr on new plant – Tata Motors to invest $641 mn a year for 3 years – Indra Nooyi rules herself out of race to succeed Ratan Tata – Tata Global Beverages plans restructuring Also Read Related Stories News Now – Markets off day's low – Chana futures recover on firm spot market demand – India defers power project bid date – FIIs pump in $2.5 bn in Indian stock market in August – Reliance Cap buys 8.68% in Trent for Rs 21.2 cr More Trent's shares shot up to a new high to touch Rs 1,126 per share in morning trade on BSE, up by 5.03 per cent from the last closing. […]

PE firms look to raise funds from market

Domestic private equity (PE) firms are turning to the equity market after about a decade, hoping to raise money from the public as funds go scarce both in India and abroad. Milestone Capital Advisors Ltd, which manages around `3,152 crore of assets in its portfolio, and Future Ventures India Ltd, the investment arm of retailer Kishore Biyani’s Future Group, have filed draft prospectuses with the Securities and Exchange Board of India, or Sebi, for a public listing of shares. Milestone says in its draft red herring prospectus (DRHP) that it will primarily use the money raised from its initial public offering (IPO) as seed capital for a new infrastructure fund (expected to be around `800 crore) and for a small and medium enterprises fund (`250-300 crore). Future Ventures expects to raise `750 crore from its IPO to “create, build, invest in or acquire, and operate businesses in consumption-led sectors,” it says in its DRHP, filed late August. […]