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BGR Energy to raise Rs 350 Cr by diluting 5-6% Stake
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BGR Energy is in process to raise Rs 350 Cr by diluting its 5-6% stake to fund its capex plans. As on Marcg 31, 2010, the promoters of BGR hold 81.31% stake in the Company. It carries on the business under two segments, the supply of systems and equipment and turnkey engineering project contracting.
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Religare Laboratories to acquire Piramal’s Diagnostic Chain
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Super Religare Laboratories is acquiring Ajay Piramal’s diagnostic chain - Piramal Diagnostic Services Pvt. Ltd. for about Rs 600 Cr. If the deal goes through, it would be second business sale for Piramal in a month’s time, earlier it sold its domestic formulation business to US-based Abbott Laboratories for $3.7 Bn last month.
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| IL&FS Milestone Realty Fund to invest in Asian Hotels SPV |
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IL&FS India Realty Fund II will be investing about Rs 70-80 crore for a 30-40% stake in Aria Hotels and Consultancy Services, a subsidiary of Asian Hotels (West). This subsidiary owns a new hotel to be constructed at the Delhi international airport.
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Ace India to acquire Higher Educational Institutions abroad
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Ace India Ltd has announced that it will acquire higher educational institutions in UK and Europe to expand its global footprint. The board of the company has also approved to set-up private university in France. Ace India Ltd provides education under 3 verticals K-12 education, higher & vocational education and ICT solutions.
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Atul Ltd’s polymer div acquires Polygrip for Rs 10 cr
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The Polymer division of Atul Ltd has acquired the country’s leading rubber and PU-based adhesive brand Polygrip, for Rs 10 crore. Through this acquisition, Atul Ltd. will get a ready access to the rubber and PU-based adhesives market in India. Currently, the market for rubber and PU-based adhesives is estimated at around Rs 500 crore.
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Emami acquires a Manufacturing Plant in Egypt
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Emami has purchased a manufacturing plant in Egypt for Rs 12 Cr, which will be financed by a combination of internal accruals and term loans from lending institutions. The firm is in process to start manufacturing its products in the plant by the end of this fiscal year. Through this plant Emami will start selling its products in Middle East, CIS, Europe, North America and Africa.
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Piramal Healthcare to acquire assets of BioSyntech’s
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Piramal Healthcare announced the signing of a definitive agreement to acquire Canada’s BioSyntech’s assets for a consideration of Canadian $3.9 million (about Rs. 17.65 crore). BioSyntech is a medical device company specialising in developing, making and commercialising advanced bio therapeutic thermogels for regenerative medicine (tissue repair) and therapeutic delivery.
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Warburg Pincus to invest in Metropolis Health
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US private equity firm Warburg Pincus will invest USD 85 million to buy stake held by ICICI Ventures, the private equity arm of India’s No 2 lender ICICI Bank, in Mumbai-based Metropolis Healthcare. The deal also includes additional capital that will be available to Metropolis to pursue acquisitions.
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Baring PE to invest in Oriental Tollways
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Baring PE Partners India is making an investment of Rs 370 Cr in Oriental Tollways. Oriental Tollways may dilute approximately 15-20% to raise the funds, valuing the company close to Rs 1,900 Cr. and will use the proceedings as its equity contribution in its different SPVs.
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Khazanah Nasional To Acquire Stake in Aman Resorts
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Khazanah Nasional, a Malaysian wealth fund is acquiring a controlling stake in Aman Resorts from DLF Limited for about $300-350 Mn. DLF Ltd had bought Aman Resorts in Nov’07 for $400 Million and holds its 97% stake while the balance 3% is with the founder Adrian Zecha. The $400 Mn consisted of equity of $250 Mn and $150 Mn of debt.
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| Tiger Global Invests $10 Mn in Flipkart Online |
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Flipkart Online Services Pvt Ltd has raised its second round of venture funding from Tiger Global Management. The investment is believed to be of around $10 Mn which would be utilized for Flipkart’s expansion. Last year in October, Flipkart had raised funding from venture capital firm Accel India.
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| Rajoo Engineers Ltd Acquires Wonderpack Industries |
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Rajoo Engineers Ltd, a Rajkot based industry engaged in the manufacturing of extruders, blown film equipment and sheet lines, has acquired Wonder Pack Industries for Rs 30 Cr. Wonder Pack Industries Pvt. Ltd produces thermoforming equipment, including high-speed, trim-in-place machines. Post acquisition, Wonderpack will operate as a separate division of Rajoo Engineers, under the leadership of Amit Shah, the founder and managing director of Wonderpack, who has joined the Board of Rajoo Engineers.
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Reliance Capital purchases 18% stake in Bloomberg UTV
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Anil Ambani owned Reliance Capital will acquire 18% in the business channel Bloomberg UTV, promoted by Ronnie Screwvala and Bloomberg LP for an undisclosed amount. Post acquisition, the promoters of UTV will hold 67% and Bloomberg will continue to hold 15% in the channel.
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BSE purchases 16% Stake in CDSL
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| BSE has acquired an additional 16% stake in Central Depository Services Limited for Rs 84-92 Cr from HDFC Bank(7%), Bank of Baroda(4.5%) and Bank of India(4%). This deal values the depository at Rs 522-575 Cr. CIPCL to Sell Stake in Bhadrawati Power Project. |
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Sequoia Capital increases its holding in eClerx Services
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Venture Capital firm, Sequoia Capital has acquired additional 2.9% stake in eClerx Services through open market purchase at a price of Rs. 539.39 per shares, thereby, increasing their stake to 9.7% in the company. The acquisition has been made through its sub account Nambe Investment Holdings.
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NSE purchased 9.42% stake in NSDL
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National Stock Exchange has further acquired 9.42% stake in the India’s largest depository firm National Securities Depository Limited (NSDL), from the Specified Undertaking of Unit Trust of India (SUUTI) for approximately $25 million. Pursuant to the above acquisition, the shareholding of NSE in NSDL has increased from 15.63% to 25.05% while the stake of SUUTI has been reduced to 15.58%.
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Actis acquired 30% stake in Integreon
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Actis, a Private Equity firm, has acquired around 30% stake in BPO firm Integreon with a total investment of $50 million. Two of the Actis directors, J M Trivedi and Gautam Radhakrishan will be appointed as directors on the Integreon board.
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Aditya Birla invested Rs 50 crore in Anupam Industries
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Private Equity fund Aditya Birla has acquired a 20% stake in Anupam Industries, a Gujarat based crane manufacturer, for Rs 50 crore. As a part of the deal, Mr. Bharat Banka, MD and CEO of the fund, will join the board of Anupam Industries.
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Citigroup exiting MCX by selling its stake to Ashmore
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Citigroup is exiting MCX by selling its 5% stake for $40 million to Ashmore Plc at a loss of 10% which it brought in 2007 for $45 million. Citigroup has bought these shares at a price of Rs. 1,050 per share in 2007, when the Indian stock market was at the peak and the valuations were too high.
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Towervision to get PE investment
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After morgan Stanley PE Asia investment in Towervision, a Hongkong based FII is also investing $325 milllion for a stake in the company which will be announced in a couple of days. Towervision is a tower management company and provides passive infrastructure to the wireless industry.
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| Mumbai Angels invested in Insta Health Solutions |
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Mumbai Angels has invested an undisclosed amount in a Bangalore based start-up company known as Insta Health Solutions (IHS) which is engaged in the business of providing hospital management softwares for hospitals. IHS had currently raised $1 million from Investus Capital Partners.
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| Mylan Inc Exits Concord Biotech |
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Mylan Inc has sold its entire stake in Concord Biotech, the only company in the world to produce API of the generic version of all four major immunosuppresants under one roof using ultra hi-tech biotechnology system, to the promoters of Concord Biotech at an undisclosed amount. After the dilution the shareholding of Mr. Sudhir Vaid and Mr. Rakesh Jhunjhunwala, the promoters of Concord has increased from 30% to 52% and from 8% to 40% respectively.
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| Specialty Food India’s Healthcare Nutrition business to be acquired by Nestle |
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The board of Nestle India has given its approval to acquire Healthcare Nutrition business of Specialty Food India Pvt. Ltd., a wholly owned subsidiary of Nestle S.A., with effect from January 1, 2010. Post acquisition Nestle will get a leadership position in Nutrition, Health and Wellness.
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