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DEBT | 4 December 2012    1 Comment

Blackstone Backed Jagran Prakashan To Raise Funds

by Paritosh Gajjar
Blackstone Backed Jagran Prakashan To Raise Funds
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Publisher of 'Dainik Jagran', @Jagran, is set to raise R150 Cr through issue of secured NCDs.

The BSE filing by the company said the fund would be utilized to add to the long term resources and retirement of its high interest bearing short-term debt.

The NCD issue is rated Crisil AA+/Stable and the firm’s short-term rating have a rating of Crisil A1+.

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Zipdial Mobile Solutions Private Limited, a mobile solution startup in Bangalore has secured seed investment from 500Startups, US based early stage seed fund and incubator.

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Strides Arcolab Divests Stake In Biotech Project Stelis Biopharma To GMS Holding

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Along with the merger of Shasun Pharmaceutical with itself, Strides Arcolab also announced the induction of a strategic partner in its greenfield biotech project, Stelis Biopharma. As per the deal GMS Holding will pick up 25.1%s stake in the biotech arm infusing $8.5Mn.

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