Private Equity

Talwalkars expects revenue of Rs.125-130 crore

TalwalkarsTalwalkars Better Value Fitness said on Monday that it expects to generate revenue of Rs. 125-130 crore during this fiscal year.

The company which got listed on the two Indian bourses is into the business of fitness and has its own chain.

Talking about this, the managing director and CEO of Talwalkars said that the during the 2009 fiscal year, the revenue of the company was merely Rs. 59 crore. For 2010, they expect a figure of Rs. 79 crore. This confidence, he said, has come since the company has grown fast and steady ever since the year it was incorporated.

Sloane Robinson hikes stake in Indiabulls Real Estate

Indiabulls Real EstateSloane Robinson LLP, leading foreign fund house, has informed that it has increased its stake in Indiabulls Real Estate.

As per sources, the UK- based fund house has purchased 19.82 lakh shares (0.5 per cent stake) and hiked its stake holding to 5.42 per cent in Indiabulls Real Estate Ltd.

Sources added that Sloane Robinson LLP has acquired 19.82 lakh shares of Indiabulls Real Estate through open market transactions.

In a communiqué, the fund house functionaries stated that the transaction of shares was carried out on October 8.

Parsvnath Developers successfully raises Rs 225 crore through stake sale

Mr. Pradeep Jain Chairman, Parsvnath Developers Ltd. Realty major Parsvnath Developers has raised Rs 225 crore through equity sale of two of its projects to private equity investors.

The company plans to utilize the funds to trim down its Rs 1600 crore debt and meet construction cost.

According to market sources, the company has finalized two transactions with private equity firms, where one is valued at Rs 150 crore, while other stand at Rs 75 crore. The firm has sold its stakes in its two projects, which is located in the national capital region (NCR).

Milestone Religare completes investment of Rs 250 million in IMS Learning

Milestone Religare Investment Advisor Pvt. LtdMilestone Religare Investment Advisor Pvt. Ltd, a joint venture between Religare Enterprises and Milestone Group, is pleased to announce the completion of its first trance of Rs 250 million investments in IMS Learning Resources Pvt. Limited.

This investment has been made from the India-out-Fund-1, which is Rs 600 crore sectoral private equity fund that focuses on education and healthcare.

It should be noted that in April 2009, Religare had entered into a 50:50 joint venture with Milestone Capital to launch the India Built Out Fund.

Glenmark Pharmaceuticals to raise Rs 300 – 350 crore

Glenmark Pharmaceuticals to raise Rs 300 – 350 croreIndia's leading drugmaker Glenmark Pharmaceuticals has revealed the company plans to raise around Rs 300 -350 crore through issue of shares to qualified institutional buyers on a private placement basis.

The committee of directors has decided to allot equity shares to qualified institutional buyers.

The Glenmark QIP opened on Thursday and will close before the market opens on Friday.

Norwest Venture picks 2.11% stake in NSE for Rs 250 crore

Norwest Venture picks 2.11% stake in NSE for Rs 250 croreNorwest Venture Partners, a U.S. based multi-stage investment firm, has agreed to pick up 2.11 per cent stake in the National Stock Exchange (NSE) from IL&FS Securities Services for Rs 250 crore, valuing the exchange at Rs 11,848 crore.

Confirming the transaction, a senior official has informed that latest investment has been made under the FII (foreign institutional investor) category, as the NSE has already reached the 26% foreign direct investment (FDI) limit in stock exchanges.

Anant Raj Industries gets nod to raise Rs 2000 crore

Anant Raj Industries gets nod to raise Rs 2000 croreAnant Raj Industries, one of the leading Construction and Infrastructure Developers in North India, has decided to raise Rs 2,000 crore by issuing securities on QIP basis.

The company informed in a release that its board of directors has finally sanctioned its proposal for the raising of funds up to Rs 2,000 crore by issue of securities through private placement to the QIBs.

JSW Steel to raise $1 billion via QIP route; Stock soars 6%

JSW Steel to raise $1 billion via QIP route; Stock soars 6%JSW Steel, India's third largest steelmaker has decided to raise $1 billion (about Rs 4,775 crore) through qualified institutional placement (QIP) and issue of securities in the international markets.

The board of directors of the company has already approved the raising of long-term funds aggregating $1 billion.

The Sajjan Jindal-led firm plans to raise the funds by issue of securities to qualified institutional buyers (QIBs) in one or more tranches.

LIC Housing Finance plans to raise Rs 500 crore through QIP route

LIC Housing Finance plans to raise Rs 500 crore through QIP route LIC Housing Finance (LICHFL), the country's second-largest housing finance company, plans to raise additional capital of Rs 500 crore though QIP and preferential issue of equity shares.

The company informed that, the board of directors will meet on June 1 to consider the proposal to raise additional capital and to seek the shareholders' nod.

In addition LIC HF also quoted that its proposal to raise the capital before September 2009, will depend on shareholders' nod and market conditions.

Corporation Bank to raise Rs 1,000 crore

Corporation Bank to raise Rs 1,000 crore State-run Corporation Bank has revealed its plans to raise around Rs 1,000 crore in the current financial year.

According to a bank official, the lender has plans to raise Tier II capital of around Rs 1,500-2,000 crore for the current fiscal. Out of which, the bank has already raised Rs 1,000-crore during April in two tranches and the rest will be raised over the year in different tranches.

Karnataka Bank to raise Rs 500 crore; Q4 net profit surges 37%

Karnataka BankMangalore-based Karnataka Bank has informed that the Board of Directors of the Bank at its meeting held on May 25, 2009, has resolved to seek shareholders approval to raise Rs 500 crore through qualified institutional placement (QIP).

Further, in a separate announcement, the lender has notified that it has registered a growth of 37% in its net profit at Rs 83.14 crore for the fourth quarter ended March 31,
2009, against Rs 60.78 crore in the corresponding quarter a year ago.

However, total income surged 35% to Rs 641.8 crore from Rs 475.18 crore.

PTC India raises Rs 500 crore through QIP route

PTC India The PTC India Ltd. (PTC), the leading provider of power trading solutions in India, has successfully raised Rs 499.99 crore by issuing shares to qualified institutional buyers.

The company stated in a release that it has raised Rs 499.99 crore by issuing over 6.66 crore equity shares through qualified institutional placement (QIP).

Sources reported that PTC intends to invest the funds raised in the energy related sector.

In addition, PTC may also invest in interest or dividend bearing liquid instruments including money market, mutual funds and term deposits with banks or financial institutions.

600 million dollars paid by Temasek for stake in China's CCB

600 million dollars paid by Temasek for stake in China's CCB$600 million would be invested by Singapore state investment agency Temasek Holdings in order to raise its stake in China Construction Bank to 6.5 percent from 6 percent.

A source familiar with the matter said that with the aim to enhance Temasek’s equity stake in CCB, the world's second-largest lender by market value, the company is mulling to pay $600 million.

As per the media reports, the investment would boost Temasek's holding to 6.5 percent, or 14.3 billion shares.

KS Oils set to raise Rs 450 crore

KS Oils set to raise Rs 450 croreEdible oil firm, KS Oils is all set to raise funds worth Rs 450 crore by issuing shares and convertible warrants to investors including New Silk Route, Citigroup Venture Capital (CVC) and Baring Private Equity Partners.

Silk Route, CVC and Baring are expected to pump around Rs 135 crore and Rs 49 crore each through subscription of preferential equity shares and convertible warrants. The oil firm would also issue GDR to raise funds worth Rs 60 crore.

Indiabulls Real Estate to raise Rs 2.8k crore through QIP

Indiabulls Real Estate to raise Rs 2.8k crore through QIPIndiabulls Real Estate Ltd, a leading reality firm in the country, is planning to raise Rs 2,820 crore for which the firm has received approval from its board of directors Monday.

It would issue equity shares of a face value of Rs 2 to qualified institutional buyers (QIBs) to fund its pending power project in Maharashtra. Morgan Stanley has been appointed as its book manager to the issue, coming within a week.

Tech deal flow displays impressive pick up

Tech dealAn enormous pick up has being witnessed once again in the tech deal flow, with Friday marking the midpoint of the second quarter.

More M&A activity has been witnessed in the April-June quarter over the past two years than any other single quarter of the year. The same trend seems to be repeating itself this year, just halfway through the period, following a historically slow start in 2009.

Impressive valuations seen by Dubai’s Abraaj

Impressive valuations seen by Dubai’s AbraajThe company told that it would make sense for long-term investors to start investing toward the end of 2009.

Last October, Abraaj invested nearly $3 billion for a buyout fund with the aim to make investments across the Middle East and Africa.

While on the sidelines of the World Economic Forum at the Dead Sea in Jordan, Abraaj Managing Director Mustafa Abdel-Wadood said that valuations are attractive but more importantly they have a little bit more visibility or stability.

International Investment Bank announces quarterly results

International Investment Bank announces quarterly resultsInternational Investment Bank (IIB), a leading Bahrain based investment bank has declared its quarterly results for the period till 31 March 2009.

During the quarter under review, lender's total income stood at $1 million, which is mainly derived from investment banking fees generated from the structuring, underwriting and placement of new investments, together with profit earned on funds placed with financial institutions.

KKR marks entry in Saudi Arabia with Dubai office as regional hub

KKR  marks entry in Saudi Arabia with Dubai office as regional hubKKR & Co., the leveraged buyout firm run by Henry Kravis and George Roberts, which is preparing to expand in the Middle East, is busy examining possible investments in Saudi Arabia.

Makram Azar, who joined KKR in September as head of the firm’s Middle Eastern operations said that it’s the biggest market and has scale, it has 28 million people, it has lots of corporates and industries and family businesses that the company could support and give growth capital to.

GMR Infra to raise Rs 5000 crore

GMR Infrastructure LtdBangalore-based GMR Infrastructure, the flagship company of GMR Group, has decided to raise up to Rs 5,000 crore through private placement of shares in domestic and international markets.

The company said in a communiqué that its board has approved the raising of an amount not exceeding Rs 5,000 crore either through preferential issue or qualified institutional placement (QIP) or private placement of securities.

Earlier in December 2007, GMR Infrastructure had raised over $1 billion through qualified institutional placement.

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