JSW Steel Ltd plans to bid for iron ore mining blocks in Karnataka that could go up for auction after a Supreme Court order last week. JSW and rivals such as Essar Steel have been forced to import iron ore due to a ban on mining in two states of India. The company already has an iron ore joint venture in Karnataka with a production capacity of 2.5 million tonnes per year. ()
HP eyes $1bn sale of MphasiS stake: Hewlett Packard (HP) has formally started work to sell IT services firm MphasiS Ltd with Citigroup managing the process. The PC maker owns 60% stake in Bangalore-based MphasiS, which is worth $900 million (INR 4,853 crore) at current market value. HP would expect a premium to the prevailing price, pushing the deal value to over $1 billion (INR 5,392 crore). Citigroup has been selected to run the sale process after HP had direct talks with a few private equity firms in recent months to ascertain their interest. (The Times Of India)
Tata Sons plans to raise at least 3 billion rupees via bonds: Tata Sons, the holding company of India's Tata Group, plans to raise at least INR 300 crore ($ 55.17 million) via two separate bond deals. The firm will issue 5-year and 10-year bonds at 8.85%. ICICI Securities Primary Dealership is the arranger to the deal. ()
Windsor Machines plans for acquisition: Windsor Machines Ltd. is looking to acquire Italian company, Italtech through a joint venture firm Wintech S,r.l. The company also incorporated a wholly owned subsidiary, Wintech B.V. in Netherlands, which holds 80% stake in Wintech S,r.l. and the remaining 20% stake would be held by Italian partner Geoplast S.p.a. (BSE)
Courtesy: VCCEdge