DEALCURRY - Mergers & Acquisitions, Private Equity, I.P.O. / Offerings, Venture Capital, Real Estate, Regulatory,...

GVK Power To Raise R1200Cr

Charmi Gutka — 2012-02-03T16:17:00+01:00

GVK Power And Infrastructure Limited is planning to raise R1200Cr debt for the Alaknanda hydel power project and also planning to pump additional R300Cr equity.

According to ET, GVK is in talks with existing lenders which includes consortium of eight to ten banks spearheded by Punjab National Bank and other banks for fund raise.

The Alaknanda project is being built on the river Alaknanda near Srinagar town in Pauri district of Uttarakhand.

Emerging Markets Invests R14.6Cr In Sintex Industries

Charmi Gutka — 2012-02-03T12:39:00+01:00

Emerging Markets Management Plc has invested R14.61Cr in Gujarat based Sintex Industries Limited.

The fund purchased 1607302 shares at a price of R90.9 per share aggregating to R14.61Cr through bulk deal on NSE.

Established in 1931, Sintex group is involved in manufacturing plastic, textile related products and construction products. It also provides electrical equipment and offers solutions for infrastructure, construction, interiors, packaging, electrical engineering, railways, defense, and industrial sectors.

Goldman Sachs Invests R22Cr In Aban Offshore

Charmi Gutka — 2012-02-03T11:47:00+01:00

Goldman Sachs has bought stake in Aban Offshore through bulk deal on exchange.

The fund purchased 447541 shares at R504.25 per share aggregating to R22.57Cr.

Founded in 1986 by M. A. Abraham, Chennai based Aban Offshore provides drilling and oil field services for the offshore exploration and production of hydrocarbons to the oil industry in India and internationally.

Snowman Logistics To Raise $6.5Mn Debt From IFC

Irfan Khan — 2012-02-03T10:28:00+01:00

Snowman Logistics is raising $6.5Mn long term debt from IFC for expanding it's storage facilities across the country.

Snowman Logistics has outlayed a capex plan of about $28Mn for expanding it's storage facilities in various locations across India.

ThyssenKrupp Elevator Acquires 25% Stake In Eros Elevators

Charmi Gutka — 2012-02-03T10:12:00+01:00

ThyssenKrupp Elevator AG has formed a JV with Mumbai based Eros Elevators & Escalators Private Limited by acquiring 25.1% of its shares through its subsidiary - ThyssenKrupp Elevator India Private Limited.

With this deal, ThyssenKrupp Elevator strengthens its position in India.

According to press release, ThyssenKrupp Elevator's mid to high-end products and national network, combined with Eros’ economical, high quality elevators for the fast growing industrial and affordable housing segments, will provide customers across India a dependable source of complete elevator and escalator solutions.

Miglani Group Acquires 24.5% Stake In Lloyds Steel For R190Cr

Irfan Khan — 2012-02-02T20:30:00+01:00

Miglani family, co-owners of Uttam Galva Steel is acquiring 24.5% stake in Lloyds Steel for R190Cr. The shares were bought through it's two group entities - Ultimate Logistics Solutions Pvt Ltd and Siddharth Holdings Pvt. Ltd.

Lloyds Steel is also issuing 4,92,61,802 equity shares to SBI against part conversion of it's existing loan.

Aanjaneya Lifecare Acquires Apex Drugs & Intermediates For R250Cr

Irfan Khan — 2012-02-02T16:12:00+01:00

Aanjaneya Lifecare has acquired Hyderabad based API manufacturer - Apex Drugs & Intermediates. The acquisition was valued at R250Cr, with debt of R185Cr and equity dilution of R65Cr.

Aanjaneya Lifecare has acquired Apex Drugs' assets, businesses, clients, licensees, employees and has merged both the companies' operations, becoming a fully integrated formulation company. This acquisition also gives Aanjaneya an entry into Hyderabad market.

Fairnair AG Acquires Stake In Quikjet Cargo

Irfan Khan — 2012-02-02T12:53:00+01:00

Switzerland based Fairnair AG has acquired a substantial stake in IL&FS PE backed Quikjet Cargo Airlines Pvt. Ltd. Financial details of the transaction were not disclosed. Quikjet will start commercial operations on 10 February with a small ATR plane.

Tata Capital and IDFC are the other institutional investors in Quikjet.

SKS Microfinance Raises R100Cr Loan From SIDBI

Charmi Gutka — 2012-02-02T12:24:00+01:00

SKS Microfinance Limited has raised R100Cr loan from Small Industries Development Bank of India. The loan tenure is of three-year loan at 13.5% interest.

SKS is also in process of raising R900Cr from PE investors.On Wednesday the company appointed Verghese Jacob as an ombudsman to redress grievances of borrowers and customers.

Ascendas India Acquires Operational Buildings From Phoenix Infocity

Irfan Khan — 2012-02-02T11:41:00+01:00

Ascendas Property Fund Trustee Private Limited, the Trustee-Manager of Ascendas India Trust (a-iTrust) has acquired two operating buildings in Hitec City 2 Special Economic Zone in Hyderabad, India, from Phoenix Infocity Pvt Ltd for R176.5Cr.

Au Financiers To Raise PE Funding

Charmi Gutka — 2012-02-02T11:37:00+01:00

Jaipur based NBFC - Au Financiers India Private Limited is looking for PE investment for its third round of funding.

According to Mint, the company is in talks with Warburg Pincus, Carlyle India Advisors among others.

Ernst & Young is advising AU Financiers on the transaction.

Incorporated in 1996 by Mr. Sanjay Agarwal, Au Financiers operates in the asset-financing business, primarily in CV financing. The company has a wide reach in Rajasthan, Maharashtra and Gujarat and expanding its presence in Punjab, Madhya Pradesh, Goa and Chhattisgarh.

Baring PE To Invest $100Mn In RMZ Corp

Charmi Gutka — 2012-02-02T11:03:00+01:00

Baring Private Equity Partners is investing $100Mn (R500Cr) in real estate developer RMZ Corp.

According to TOI, the PE firm will back RMZ Corp's acquisition of an office space project of 6 Mn Sqft in the technology hub of Bangalore. Baring will pick up 28% stake in the SPV floated for this buyout. The remaining stake will be held by RMZ.

RMZ Corp is buying out the 50-acre office development Adarsh Prime Projects in a deal valued at R1080Cr. The transaction involves purchase of 1.4 Mn Sqft of pre-leased space and land with rights to build additional 4.6 Mn Sqft.

Godrej Real Estate To Raise $100Mn From GIC Real Estate For BKC Project

Irfan Khan — 2012-02-02T11:01:00+01:00

Godrej Properties is raising $100Mn from Singapore Government's sovereign fund - GIC Real Estate for it's office project in Bandra Kurla Complex.

Godrej Properties has signed a joint development project for developing the project on the 2.5-acre plot in BKC.

Oil Field Warehouse Acquires Raamns Shipping & Logistic

Irfan Khan — 2012-02-02T10:34:00+01:00

Oil Field Warehouse & Services has acquired Kakinada based logistics service provider - Raamns Shipping & Logistics Pvt Ltd to setup it's base on the east coast, particularly in Kakinada, Vizag and Chennai.

Post deal, Vinay Sharma, MD of Oil Field will join the board of Raamns.

Persistent Systems Acquires Location Biz From Openwave Systems

Charmi Gutka — 2012-02-02T10:20:00+01:00

Persistent Systems Limited has acquired Location business of California based Openwave Systems Inc through its US subsidiary.

The terms of the transaction were not disclosed.

According to the press release, this acquisition will build on Persistent’s momentum in growing product maintenance and support services.

Headquartered in Silicon Valley, Openwave Systems Inc is a global software innovator and the inventor of the mobile internet.

Binani Industries Acquires 3B - The Fibreglass Co. from Platinum Equity

Irfan Khan — 2012-02-02T10:02:00+01:00

Binani Industries Ltd has acquired 3B - The Fibreglass Company from Platinum Equity. The deal size is estimated to be around $362Mn.

Platinum acquired the manufacturing plants, intellectual property and other assets that became 3B - The Fibreglass Company from Owens Corning in April 2009.

This is Braj Binani Group's third global acquisition in six years. Last year, the group acquired US-based composite maker Composite Products Inc.

Walt Disney To Acquire Controlling Stake In UTV

Irfan Khan — 2012-02-02T09:01:00+01:00

The Walt Disney Co. is acquiring a majority stake in UTV through it's subsidiary. UTV CEO Ronnie Screwvala will head the Indian operations for Walt Disney.

Disney already owned 50.44% of UTV and last July, it made an offer of $454Mn to acquire the balance stake to gain a controlling interest in the group.

Ujjivan Financial Services Raises $25.5Mn PE Funding

Charmi Gutka — 2012-02-01T16:26:00+01:00

Ujjivan Financial Services has raised $25.5Mn by diluting a minority stake in its latest round of PE funding. Netherlands Development Finance Company, Wolfensohn Capital Partners and existing investors participated in this round of fund raising, the company said in a statement.

Kotak Investment Banking was the advisor and arranger of the transaction.

Earlier in January, Ujjivan raised R29Cr by placing NCDs with US based Developing World Markets.

Warburg Pincus Part Exits Kotak Mahindra Bank

Charmi Gutka — 2012-02-01T15:24:00+01:00

Warburg Pincus has part exited its investment in Kotak Mahindra Bank through bulk deal on exchange. The fund sold 17.5Mn shares at a price of R490 per share aggregating to R857.5Cr.

In 2004, Warburg Pincus picked up 2.75% stake for R75Cr through its two entities - Madison and Melany Holdings. In 2005, it bought additional 2% stake at Rs.385 a share. It then raised its stake more than 9% by buying additional stake in various tranches.

Carlyle Part Exits HDFC, Sells 1.3% Stake For R1354.5Cr

Charmi Gutka — 2012-02-01T15:17:00+01:00

Carlyle Asia Partners has sold a quarter of it's holding in HDFC Ltd for R1354.5Cr. It sold 20Mn shares of HDFC at R677.25 each to a number of foreign and domestic investors including Aberdeen Asset Management.

The sale represents 1.3% of the HDFC's outstanding shares. Deutsche Bank was the sole manager to the transaction. Post deal, Carlyle will hold less than 4% stake in the company.