Jyothy Fabricare Eyes Buys In Delhi, Mumbai - As part of overall expansion plan, Jyothy Fabricare Services (JFSL), a subsidiary of Jyothy Labaratories Ltd (JLL), is eying two acquisitions, one each in Mumbai and Delhi. The acquisitions, of two laundry chains, will be completed shortly, adding close to 70 outlets to JFSL’s current 30. The Mumbai chain, according to sources, has five to six outlets, while the Delhi chain has around 60. The acquisitions are likely to cost JFSL under Rs 50 crore. JFSL is in the process of raising Rs 100 crore by offloading 26% stake to the private equity arm of financial major IL&FS. (Business Standard)
Axis PE Rejected US PE Firms' Buyout Proposal - William Knight, a UK-based former director of Axis Private Equity who resigned last week, has cited the board’s decision to reject a new buyout proposal from a US-based PE major as the reason for his departure from the company. Axis PE’s board turned down an offer from the US-based PE major to buy its infrastructure fund citing a low valuation. A proposal was made by the US PE major, which handles about $7 billion under management, in February-end. (Business Standard)
Entegra To Raise Rs1,500Cr Though Private Placement - Renewable energy development firm Entegra today said it has decided to raise Rs 1,500 crore through private placement of shares or follow on offer. The board of directors of Entegra granted permission for further follow on issue of equity shares or any other convertible instrument on private placement basis or qualified institutional placement. With a portfolio that spans the entire gamut of renewable energy solutions, Entegra aims to energise the future with clean, green, sustainable and cost-effective renewable energy solutions. (Business Standard)
Dabur Eyes More M&As In Personal, Healthcare - Dabur India, the fast-moving consumer goods major, plans a turnover of Rs 5,000 crore for 2011-12, with more acquisitions in the personal and healthcare segments. The size might vary somewhere between Rs 50 crore and Rs 500 crore. It could even go higher, depending upon the brand and the company. In January 2011, the company made its second overseas acquisitions by buying US-based personal care firm, Namaste Group, for Rs 451 crore. (Business Standard)
Magma Fincorp To Securitise Portfolio - Magma Fincorp, a non-banking finance company (NBFC) funding equipment and small and medium enterprises, plans to securitise an asset portfolio of about Rs 2,500 crore for the current financial year. This is about 45% of the loans it had made in 2010-11. Earlier in the year, it had done securitisation for about Rs 1,800 crore. (Business Standard)
Hinduja Group In Talks With Overseas Players For Aerospace Foray - The Hinduja Group has drawn up big plans to enter the aerospace business. The group is in talks with a couple of American and European aerospace companies to assemble fixed wing aircraft and helicopters in India for both civilian and military applications. A new company will be created for the business in which Ashok Leyland Ltd will hold equity along with other Group outfits. (Business Line)
Israel’s Defence Firm Ness Plans India JV - Israel’s Ness Technologies Inc. is exploring forming a joint venture with an Indian state-owned defence company or a private technology company as it looks to expand in the burgeoning defence market for command and control systems. The company’s Indian arm currently caters to the local defence market only via government-to-government deals. (Mint)
Axis PE Rejected US PE Firms' Buyout Proposal - William Knight, a UK-based former director of Axis Private Equity who resigned last week, has cited the board’s decision to reject a new buyout proposal from a US-based PE major as the reason for his departure from the company. Axis PE’s board turned down an offer from the US-based PE major to buy its infrastructure fund citing a low valuation. A proposal was made by the US PE major, which handles about $7 billion under management, in February-end. (Business Standard)
Entegra To Raise Rs1,500Cr Though Private Placement - Renewable energy development firm Entegra today said it has decided to raise Rs 1,500 crore through private placement of shares or follow on offer. The board of directors of Entegra granted permission for further follow on issue of equity shares or any other convertible instrument on private placement basis or qualified institutional placement. With a portfolio that spans the entire gamut of renewable energy solutions, Entegra aims to energise the future with clean, green, sustainable and cost-effective renewable energy solutions. (Business Standard)
Dabur Eyes More M&As In Personal, Healthcare - Dabur India, the fast-moving consumer goods major, plans a turnover of Rs 5,000 crore for 2011-12, with more acquisitions in the personal and healthcare segments. The size might vary somewhere between Rs 50 crore and Rs 500 crore. It could even go higher, depending upon the brand and the company. In January 2011, the company made its second overseas acquisitions by buying US-based personal care firm, Namaste Group, for Rs 451 crore. (Business Standard)
Magma Fincorp To Securitise Portfolio - Magma Fincorp, a non-banking finance company (NBFC) funding equipment and small and medium enterprises, plans to securitise an asset portfolio of about Rs 2,500 crore for the current financial year. This is about 45% of the loans it had made in 2010-11. Earlier in the year, it had done securitisation for about Rs 1,800 crore. (Business Standard)
Hinduja Group In Talks With Overseas Players For Aerospace Foray - The Hinduja Group has drawn up big plans to enter the aerospace business. The group is in talks with a couple of American and European aerospace companies to assemble fixed wing aircraft and helicopters in India for both civilian and military applications. A new company will be created for the business in which Ashok Leyland Ltd will hold equity along with other Group outfits. (Business Line)
Israel’s Defence Firm Ness Plans India JV - Israel’s Ness Technologies Inc. is exploring forming a joint venture with an Indian state-owned defence company or a private technology company as it looks to expand in the burgeoning defence market for command and control systems. The company’s Indian arm currently caters to the local defence market only via government-to-government deals. (Mint)
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