Basic Industries

Rashtriya Ispat Nigam Limited(Vizag Steel) has filed a DRHP to raise funds by offering 488,984,620 shares constituting 10% stake of the company.

A closely held profitable injection mould design and manufacturing company is looking for a strategic investor. The turnover of the company is about R30Cr and has been consistently profitable over the past few years. Clients include leading companies from automotive, engineering products and home appliance segments.

Chennai Angels has invested R2.5Cr in Chennai based ProKlean Technologies Private Limited for minority stake.

Jindal Steel And Power Limited has acquired 9.25% stake in Australia based Apollo Minerals Limited for R5.30Cr (AUD 1 Mn) through its Australian subsidiary - Jindal Steel and Power Australia Pty Ltd.

Yara Nederland B.V. has acquired majority stake in Netherlands based of Ethiopotash B.V from existing shareholders, Seftech Phosphate Private Limited and XLR Capital Cyprus Ltd.

NMDC is planning to acquire Mozambique asset which belongs to Nagpur-based Sunflag Iron and Steel Company Limited and the other asset is in Brazil.

France based Roquette Freres has acquired Starch business of Riddhi Siddhi Gluco Biols Limited for R950Cr.

Murugappa Group owned Coromandel International may acquire UB Group's 30.4% stake in Mangalore Chemicals and Fertilisers Ltd. UB Group's stake is the fertilizer unit is expected to be worth about R150Cr.

Max India is planning to exit its polypropylene business in a two-stage transaction for an enterprise value of about R800Cr in order to exit its non-core business.