*Magma Fincorp Raises $27.1mn via QIP: * *Magma Fincorp Ltd. *has raised Rs.122.42 crore by issuing 4,067,220 shares at Rs 301 each. Over 90 per cent of the issue was subscribed by FIIs. Magma Fincorp is a retail NBFC. *Enam Securities Pvt Ltd *and *Centrum Capital Ltd *were the lead managers to the issue (BS<http://www.business-standard.com/india/storypage.php?autono=94190&tp=on> )
*Sequotia’s bid for CARE stake runs into RBI Hurdle: *The RBI has stalled *Sequoia*’s attempt to buy a stake in *CARE *as the investment may not meet the minimum requirement of $500,000 for a foreign entity to buy into a rating agency or NBFC. The RBI is apparently considering only the face value of the shares and not the actual transaction value. Sequotia is trying to buy10-15% in CARE from Existing shareholders. ( DNA<http://www.dnaindia.com/money/report_sequoia-bid-to-buy-stake-in-care-runs-into-a-wall_1382403> ) *Varun Beverages Ltd Looking for $100mn Equity Funding: RJ Corp*’s soft drink bottling arm is looking to dilute 10% for $100mn in order to expand bottling operations. *Varun Beverages *says demand from client Pepsi is growing at a rapid pace and it needs the capital to grow at the same pace. Ravi Jaipuria has categorically denied making a deal if the at a valuation of below $1 billion. RJ Corp’s the restaurant business might see fund raising via IPO. (VCCircle<http://www.vccircle.com/500/news/rj-corp-may-tap-100m-pe-funds-for-pepsi-bottling-biz> ) *GVK May Have Separate Holding Companies for Each Business: GVK Group *is thinking of restructuring its businesses into separate holding companies. That would mean a structure similar to its compatriot from Hyderabad, *GMR Group*. Such a structure would make it easier for fund raising and listing. (BS<http://www.business-standard.com/india/news/gvk-power-mulls-separate-holding-companies/394711/> ) *REC to Raise Rs.21,000 Crore in Debt in FY11 Rural Electrification Corp *will raise Rs 21,000 crore from the market in 2010-11, as part of its resource mobilisation plans. This fund raising would comprise $500 million of external commercial borrowings (ECBs). The company borrowed Rs 24,000 crore in the previous financial year. REC would form a committee with *Power Finance Corp *to evaluate taking upto *5% equity *stake in power projects. (ET<http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/REC-to-borrow-Rs-21000-cr-in-FY11/articleshow/5926011.cms> ) *FirstObject to Acquire an E-Learning Company FirstObject *has signed an agreement to acquire *Pre-School*, which has franchisees with various kindergarten schools and provides the pre-school content to schools for 2-6 year olds. The deal is valued at Rs.25 crore. ( BSE<http://www.bseindia.com/xml-data/corpfiling/announcement/Firstobject_Technologies_Ltd_130510.pdf>) *Ranbaxy to Exit Investment Made by Former Management: Ranbaxy *has decided to offload stakes in *Fortis Healthcare *and *Shimal Research Laboratories *belonging to former promoter group and *Orchid Chemical and Pharmaceuticals*. Ranbaxy currently holds 13% stake in Orchid, worth Rs 135 crore, a 4.45% in Fortis, worth Rs 230 crore, while it carries Shimal stake on its balance sheet at Rs.98 crore. Shimal Research is a clinical research company. (ET<http://economictimes.indiatimes.com/news/news-by-industry/healthcare/biotech/pharmaceuticals/Ranbaxy-to-sell-stakes-in-ex-group-cos/articleshow/5923607.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.
