*Great Eastern Shipping has taken board approval to bring an initial public offer for its subsidiary Great Ship. *
*Sahara May Take IPL Team Public* - Sahara group promoter Subrata Roy could take his newly acquired Indian Premier League (IPL) team public by 2013, the second year of operations. Sahara bid a record Rs 1,702 crore for the IPL’s Pune team. Sahara is open to having investors take a minority equity stake in the franchisee and is already getting offers from London soccer clubs as well as some industrialists in India. (Business Standard)<http://www.business-standard.com/india/news/sahara-mulls-ipo-for-new-ipl-team/389436/> *Great Eastern To Take Subsidiary Public* - Great Eastern Shipping has taken board approval to bring an initial public offer for its subsidiary Great Ship. India’s largest private sector shipping company is planning the IPO to raise finances for the expansion of its subsidiary. Great Ship is currently operating two rigs and 14 offshore supply vessels. The company may file the draft red hearing prospectus with the regulator Securities and Exchanges Board of India (Sebi) in a month’s time. (BS)<http://www.business-standard.com/india/news/great-eastern-plans-listingits-offshore-subsidiary/389433/> *FMC Approves Intel's MCX Stake Buy* - The Forward Markets Commission (FMC) has approved Fidelity’s 2% stake sale in the Multi Commodity Exchange of India (MCX), in favour of Intel Capital. The commodity markets regulator last month approved transfer of 2.03% stake from Fid Funds to Passport India Investments (Mauritius) in the country’s largest commodity futures exchange. (BS)<http://www.business-standard.com/india/news/intel%5Cs-mcx-stake-buy-gets-fmc-nod/389369/> *Suven To Raise Funding *- Suven Life Sciences, the drug research and contract manufacturing company, is ready to dilute around 10% equity as it needs about $20 million to to fund the further development of its Alzheimer’s molecule, SUVN 502. The funds will be used to take the molecule to Phase II trials as the Phase I results are said to be positive. The company is currently in the process of kicking off the road shows for equity placement from May 2010. (DNA)<http://www.dnaindia.com/money/report_suven-life-to-sell-equity-to-fund-drug-trial_1362210> *IVRCL To Unlock Real Estate *- Infrastructure major IVRCL, which has nearly 3,300 acres lying around across the country, is planning to unlock the value of its idle real estate. This land is estimated to be worth a whopping Rs 1,600 crore and has already started talking to potential buyers. The company will adopt a multi-pronged strategy, including developing pockets of land located in prime cities on its own and selling off the land in other parts to other developers. (DNA)<http://www.dnaindia.com/money/report_infrastructure-major-ivrcl-in-big-land-sale-move_1362231> *Southern Ispat Eyes Coal, Iron Ore Mines* - Southern Ispat plans to invest Rs 300 crore for expansion of production capacity, acquire coal mine in Indonesia and an iron ore mine in Madhya Pradesh. The company proposes to amalgamate its subsidiary Kerala Sponge Iron with itself to drive the benefits of vertical integration. The company is exploring fund raising options such as FCCB, ADR and GDR to realise its growth plans. (HinduBusinessLine)<http://www.thehindubusinessline.com/2010/03/23/stories/2010032352050300.htm> *Tata-Quippo To Sell 10% Stake* - Tata-Quippo is looking at bringing a financial partner into the firm by diluting around 10% stake for around Rs 1,500 crore. The deal is expected to be completed within the next two months and the tower company Quippo-WTTIL (Wireless TT Info Services) was looking at listing on the bourses within a year. Currently, Quippo Telecom Infrastructure and a group of investors together hold 46% in the tower company, with the Tatas having the remaining 54%. (Economic Times)<http://economictimes.indiatimes.com/news/news-by-industry/telecom/Tata-Quippo-looks-to-rope-in-partner-to-offload-10-stake-for-Rs-1500-cr/articleshow/5713928.cms> *GAIL In Talks To Buy Stake in Papua New Guinea LNG Project *- State-owned gas utility Gail India is talking to Canadian oil firm Interoil for a possible stake in its proposed liquefied natural gas (LNG) project in Papua New Guinea. Papua New Guinea last year granted initial approvals for the Pacific nation’s second LNG project, which would follow a plant proposed by an Exxon Mobil-led venture. The venture would cost about $5 billion for a plant producing 3.5 million tonne (MT) a year of LNG, with shipments due to start in 2014. (ET)<http://economictimes.indiatimes.com/news/news-by-industry/energy/oil-gas/Gail-in-talks-to-buy-stake-in-Papua-New-Guinea-LNG-project/articleshow/5713556.cms> -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
