*Sri City has earlier raised Rs 320 crore from four PE players including Ocgziff PE Fund and Credit Asia Capital. *
*Sri City Sez To Raise $50M PE *- Sri City, a private special economic zone (Sez) in south India, is planning to raise around $50 million from private equity (PE) players for its proposed infrastructure development. The project, which has already raised Rs 320 crore from four private equity players including US-based Ocgziff PE Fund, Credit Asia Capital, Bedrock LLC, US, and Chintala Party Holdings, is planning to bring in a new partner this time. Sri City Sez is spread over 5,000 acres of land and is located on the border of Andhra Pradesh and Tamil Nadu. The project is expected to complete in the next 8-10 years. (BS<http://www.business-standard.com/india/news/sri-city-to-raise-50-mnpe/392622/> ) *Unitech To Get Infra Unit Listed In One Year *- Unitech Infra, the demerged entity of the country’s leading real estate developer Unitech Ltd, is planning to go public in the next one year. Unitech Infra’s portfolio includes 11 hotels comprising about 2,100 rooms. It also has three amusement parks in its fold, one each in Delhi, Noida and Chandigarh. The company is also pursuing opportunities in BOT (build, operate, transfer) projects in highways and the power transmission sectors, and intends to generate and distribute captive power within the existing and future developments of its parent firm. (DNA<http://www.dnaindia.com/money/report_unitech-infra-aims-to-go-public-in-a-year-s-time_1374065> ) *Premji To Offload 5% Stake In Wipro *- Azim Premji, chairman of IT major Wirpo Ltd, is looking to dilute around 5% stake in the company to 75% from the current 80%. Media reports suggest, Premji can raise around Rs 4,000 crore at the current market price of the company shares. The move may be in line with the government’s guideline to offer at least 25% holding to the public for all listed companies. Premji is likely to put the money to be raised through stake sale in his private equity arm Premjiinvest and non-profit venture Azim Premji Foundation. (DNA<http://www.dnaindia.com/money/report_premji-may-sell-4-5pct-wipro-stake_1374087> ) *Videocon To Sell 26% Stake In Telecom Arm *- Videocon Industries Ltd, a diversified company with dominant presence in consumer durables space, is planning to sell 26% stake in its telecom venture to overseas players. The company is looking for a good valuation of the firm, which is currently valued at Rs 12,000 crore. It currently offers GSM-based mobile services and has operations in Tamil Nadu, Gujarat and Mumbai circles. It targets around 10 crore customers in the next three years and would invest Rs 15,000 crore in the sector. (ToI<http://timesofindia.indiatimes.com/biz/india-business/Videocon-may-offload-26-in-telecom-arm/articleshow/5841883.cms> ) *Sundaram Fin To Buy Partner’s Stake In JV *- Sundaram Finance Group, a leading non banking finance company (NBFC), is buying 49.90% stake of its joint venture partner BNP Paribas. BNP Paribas is a French bank and the JV partner of Sundaram in a domestic mutual fund, Sundaram BNP Paribas Asset Management. BNP Paribas had bought the stake in Sundaram Finance’s mutual fund in 2005. The development is believed top be in line with SEBI’s order to BNP to limit its exposure to the Indian mutual fund industry through a single entity, as the bank also owns Fortis Mutual Fund, which came under its fold when it acquired Belgium-based Fortis Bank’s several international operations, including the domestic mutual fund business. (ET<http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/Sundaram-Fin-to-buy-out-BNP-in-JV/articleshow/5841925.cms> ) *Mandhana Industries IPO In Next Week *- Mandhana Industries Pvt Ltd, a Mumbai-based vertically integrated textile and garment manufacturing company, is going to hit the capital market next week with an initial public offering (IPO). The company plans to offer 83 lakh equity shares, which comprises 25.06% of the fully diluted post issue paid-up capital of the company. The issue opens on April 27 and closes on April 29. It plans to utilise the proceeds in setting up a new garment manufacturing facility, and also for the expansion of its yarn dyeing and weaving facility in Maharashtra. (Business Line<http://www.thehindubusinessline.com/2010/04/22/stories/2010042253521000.htm> ) -- 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.
