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Private equity firm Rabo Equity Advisors, a part of Dutch banking major Rabobank, on Tuesday said it has picked up 26% stake in Geepee Agri Private Ltd for an undisclosed amount. The stake has been purchased through its India Agri Business Fund, Rabo Equity said in a statement. Geepee Agri, which has plants at Kota in Rajasthan and Akola in Maharashtra for crushing oilseeds, is planning an expansion in the palm oil segment. Currently, the company distributes refined soyaoil under its brand “Parampara” in Rajasthan, Maharashtra and Chhattisgarh. […]
L&T Finance, the financial services arm of infrastructure giant Larsen & Toubro, is set to buy 100% stake in DBS Cholamandalam Mutual Fund for Rs 45 crore, reports NewsWire18. The loss-making DBS Chola was set up as a joint venture between Singapore’s DBS Bank and Chennai-based Murugappa Group.L&T Finance recently raised USD 200 million via a retail bond sale. Pointing out in a statement that DBS Chola had assets under management (AUM) to the tune of Rs 2,893 crore, L&T Finance said the buy would help the company “widen, deepen” its services. […]
Local reports say that Subhash Chandra’s Dish TV India is to raise $200m from an issue of Global Depository Receipts in order to fund expansion. Dish had previously sought government permission (from its Foreign Investment Promotions Board) to raise around $150m but using a different financial instrument, a Foreign Currency Convertible Bond. Local reports say that Dish TV and/or its Essel Group parent will use the permission to raise equity capital as well as general funding. […]
Reliance Communications Ltd., India’s second-largest wireless carrier, will soon seek regulatory approval for an initial share sale of a 10 percent stake in its Reliance Infratel Ltd. unit, Chairman Anil Ambani said, without providing a timeline. The Reliance Infratel telecommunications infrastructure unit, which sold a 5 percent stake to seven global investors for about $290 million in 2007, had revenue of more than 50 billion rupees ($1 billion) and a profit of 17 billion rupees in the year ended March 31, Ambani told shareholders in Mumbai today. Billionaire Ambani is tapping a revival in investors’ appetite for new stocks after Indian companies led by NHPC Ltd. raised $1.88 billion in August, or almost 27-fold the total amount in the first half of the year. […]
The Aga Khan Fund for Economic Development (EKFEB), which is the single largest shareholder and holds 49 per cent of Development Credit Bank Ltd equity, is looking at hiking its stake in DCB, post the Government of India notification that the FDI in Indian banks can go up to 74 per cent. “The board meeting of DCB is expected to be held during this month a positive decision is expected on this front,” said H V Sheshadri, managing director & CEO of the bank. Sheshadri, who was in Bangalore to expand its branch network in the city, also announced the bank’s initiatives to be more retail focussed and upgrade its technology back-end. […]
Dabur India, one of India's leading personal care and food products companies, is planning to expand its operations by acquiring firms in the US, Europe, the UAE and Africa. “We are focussing on the Middle East and North Africa (MENA) region, mainly the UAE and Africa… and also looking at companies in Europe and the US where we don't have much of a footprint,” the company's vice chairman Amit Burman told reporters on the sidelines of a conference 'The India Retail Forum' on Thursday. “From the internal accruals and the debt we can raise we are looking at a size of $250-$500 million,” he added. […]
The country's second largest lender, Punjab National Bank, is in the process of picking up a stake in a small Kazak bank, Metrokombank. PNB has been looking for acquisition in the oil-rich Central Asian state. Sources said the talks are at a very preliminary stage as several things need to be looked into, including regulatory approval. For, the minimum capital requirement for opening a bank in the country is high. The current volume of trade between India and Kazakhastan also does not warrant this kind of investment. Therefore, buying stake in a small bank is a viable option, the sources said. […]
IDFC and Kribhco have bought 5% stake each in Indian Commodity Exchange, which is jointly promoted by Indiabulls Financial Services and MMTC. Kribhco is a co-operative society for the manufacture of fertilisers, while IDFC is a non-banking financial services company focused on the infrastructure space. “Once the formalities of the shareholding agreement are completed, we will apply to the regulator (Forward Markets Commission), to get their clearance,” Ajit Mittal, the bourse’s managing director told ET. […]
Alok Retail India, a 100 per cent subsidiary of Alok Industries, is planning a major expansion and is in talks with private equity firms to raise Rs 100-crore. “We are in talks with some PE firms and intend to raise Rs 100-crore soon. We will also be diluting some stake,” Alok Retail's Director Varun S Jiwrajka told reporters here today. The company's retail chain, H&A, will expand its network by 250 more stores by this year-end, he said. At present, there are 120 stores of H&A across the country. […]
It is learnt that GlaxoSmithKline (GSK) is in talks to pick up a 5% stake in Dr Reddy`s Laboratories (DRL) in order to strengthen its association with the Dr Reddy`s with whom it had signed a marketing alliance four months ago, reports Economic Times. It is believed that the deal may be priced around USD 150 million and could be clinched in two months, if talks stay on track. […]
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