Piramal Healthcare Eyes Overseas Acquisitions - Pharma major Piramal Healthcare is looking for a cross-border acquisition. The company, which has recently got board approval to raise Rs 1,000 crore by issuing securities, would spend a part of the proceeds on acquisitions. The target company would be in pharma or healthcare space. (DNA)
IVCF Lines Up Rs 100Cr Investment For Startups - IFCI Venture Capital Funds (IVCF), the venture capital arm of IFCI, is planning to invest Rs 100 crore in startups over the next nine months. The Rs 1,400 crore-group is identifying potential startups in the energy efficiency and renewable/non-conventional energy sectors. The venture firm has recently invested Rs 1.75 crore in Regent Energy for 15% stake. (ET)
Jindal Power Plans IPO Of Rs 10K Cr- Naveen Jindal-promoted Jindal Power Ltd (JPL) plans to raise up to Rs 10,000 crore through IPO. The company plans to complete the process by the end of this fiscal. The proceeds will be used to fund its proposed two thermal power projects and two hydel stations. It currently operates a 1,000MW pithead merchant power plant in Chhattisgarh. (BS)
Sistema Shyam To Sell 19.8% Stake To Russia - Sistema Shyam Teleservices (SSTL), a JV between Russia’s Sistema and India’s Shyam Group, would sell a 19.8% stake to the Russian government for $676.9 million. The company would issue 662.75 million shares, on a preferred basis, to the Russian Federal Agency at Rs 49.31 each. The stake sale will bring down Sistema’s stake to 54.2% in the JV. (BS)
Suzlon To Sell Hansen Stake - Suzlon Energy plans to sell its remaining 26% stake in Hansen Transmissions, a Belgium-based wind-gearbox maker. Suzlon bought Hansen in 2006 for $565 million, but has steadily sold down its stake over the past year to help repair its overstretched balance sheet. Last month, it sold 35% of Hansen for $370 million, following an earlier sale of a 10% holding in a private equity deal worth about $127 million. (Financial Times)
DE Shaw Exits DAL For $500M - US hedge fund DE Shaw has sold 36% stake in DLF Assets Ltd (DAL) for $500 million. The company has sold its investment in the KP Singh family owned company at a 40% profit over the $400 million that it had invested late 2007. The fund, which had 40% stake in DAL, would sell the remaining 4% to the Singh family or after an IPO in the first quarter of 2010 for $50-60 million, making to the total deal size of $560 million. (BS)
eInfochips Acquires nGIN Technologies - Ahmedabad-based eInfochips Ltd has acquired nGIN Technologies, a Chennai headquartered firm. The acquisition has been carried out on an earn out model for a period of three years. With the acquisition, eInfochips is eyeing to offer a wider and deeper portfolio of networking products and services to its customers. (BS)
GIC Singapore, Fidelity, Rel Capital Among DB Corp IPO - The much expected IPO of leading media group DB Corp Ltd has a reservation of at least 60% for qualified institutional bidders. The IPO committee has made allocation of 32,71,500 equity shares (30% of QIB portion) at its meeting yesterday. Government of Singapore Investment Corporation (GIC) got the maximum allocation at 17.10%, while FID Funds (Mauritius) Ltd was allotted 15.86% of anchor investor portion. ICICI Prudential Life Insurance, Reliance Capital, Nomura Funds and Fidelity International have been allocated 12.98% each. (DNA)
Millipore Strikes Rs 270Cr Deal - Massachusetts-based life science company Millipore Corporation is understood to have paid out Rs 270 crore to buy out the 60% stake held by pharma entrepreneur Subhash Bagaria in its Bangalore-based joint venture, Kemwell Ltd, and gain full control over it. The new Indian subsidiary will enable Millipore to invest in initiatives that will drive growth and expand its presence in India’s life science market. (BS)
DSP Merrill Looks Watts Successor - Investment bank DSP Merrill Lynch is understood to have reached a decision on appointing an Indian banker with work experience in foreign markets as successor to Kevan Watts, head of its India operation. The firm had entered into preliminary discussions with at least three candidates, who fulfil the criteria to step into the incumbent’s shoes. Watts had conveyed his desire to retire next year. (ET)
Natural Power Plans To Raise PE - Natural Power, an India-focused solar energy firm looking at setting up a 5MW solar farm near Jaipur at a cost of Rs 85 crore, plans to finance 70% of the total project cost through a combination of private equity and debt. The company will raise the money from Indian and foreign investors. Jaipur-based Natural Power is a venture started by Venus Capital two months ago. Venus Capital is a boutique corporate finance company set up in February this year to focus on opportunities in India’s growing solar industry. (BS)
Suzlon Aims For Full Control Of REpower – Suzulon which currently holds 92% in REpower plans to take the rest of the 8% stake to acquire the company. At the current value of REpower's shares, 8% of the company would cost approximately $150 million. (WSJ)
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