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%. […]

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. […]

Atul, a Lalbhai Group chemical firm, on Friday said it has acquired 51% stake in Mumbai-based Anchor Adhesives for Rs 10 crore. With this acquisition, the Rs 1,200-crore Ahmedabad-based industrial chemical manufacturer will expand its reach in local and international markets through the joint sales network, said Atul president Rajesh Bhasin. Atul will also access the local rubber and polymer-based adhesives market, which annually records sales of about Rs 500 crore. “We are targeting to add Rs 30 crore to our adhesives business after the acquisition of the Polygrip brand,” said Mr Bhasin. Polygrip is the leading brand of Anchor Adhesives. Atul’s polymer division grosses revenue of Rs 100 crore every year. […]

Manipal Education and Medical Group (MEMG), the holding company of Manipal Group is in discussion with a few investors including Kotak Equity to raise funds to the tune of Rs 100-125 crore. The amount will be deployed to largely fund any strategic growth opportunities. In this regard, a detailed infrastructure modification plan has been drawn up to realign capacity in the existing flagship hospital at Bangalore. A new block with state-of- the-art facilities is being created in another hospital in the city. All these efforts would not only improve the look and feel of the hospital but also increase the revenue earning potential with additional beds in place, Dr Ranjan R Pai, CEO & MD, Manipal Education & Medical Group told Pharmabiz. The challenge is not raising the funds as there is plenty of PE support, but to have access to experts with a similar vision. So far, we have been lucky to work with excellent PEs, he added. […]