Ethnic apparel retailer FabIndia and some of its private equity investors are looking to sell shares to financial investors to raise around Rs 1,100-1,200 crore at a value of about Rs 11,000-12,000 crore, following the postponement of the company’s initial public offering (IPO) plans, The Economic Times reported, citing two people aware of the development.
Some shareholders such as PremjiInvest and Lighthouse Funds are likely to sell shares as part of this round, the second person cited above said.
NIIF
National Investment and Infrastructure Fund Limited (NIIF) is set to launch its maiden InvIT for its road assets. It plans to raise growth capital of $500 million (around Rs 4,000 crore) from both global and domestic investors, The Economic Times reported, citing multiple people aware of the development.
The aggregate portfolio size of the seven roads assets would stand at approximately $2 billion, said sources.
NARCL
Government-owned National Asset Reconstruction Company (NARCL) is set to acquire the debt of Dharani Sugars and Chemicals before the end of this financial year, The Economic Times reported, citing two people aware of the deal.
NARCL's Rs 222.5 crore binding offer had triggered a Swiss Challenge auction which was scheduled on 17 March. Lenders did not receive any counteroffer for the Rs 619-crore creditors' claim that was auctioned last week.
The offer from NARCL equates to a 36% recovery, and lenders would receive 15% of consideration as cash and the balance would be security receipts (SR) payable on recovery of loans.
