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Pharmaceutical major Nectar Lifesciences on Monday said it will raise 50 million dollar through the issue of securities in international markets. The board of directors of the company at its meeting today approved to issue Global Depository Receipts (GDRs), American Depository Receipts (ADRs) or any other international offering of up to 50 million US dollars, the company said in a filing to the Bombay Stock Exchange. Meanwhile, the company has received board of directors approval for issue of equity shares to Citi Venture Capital International and Everest Capital (M) Ltd and would sign a non binding term in this regard. […]
Rajeev Chandrasekhar-promoted Jupiter Capital has joined the likes of Wipro and Infosys Technologies, which have launched private equity funds — globally referred to as the family office funds, made famous by the Rockefeller, Rothschild and Ford in the US. The trend began in India with Azim Premji, the billionaire owner of Wipro who floated a $1-billion fund in India. Chandrasekhar, who exited BPL Mobile three years ago, is now mulling a $150-million private equity fund, which will probably be launched in association with an established private equity fund. Recently, N S Raghavan, among the co-founders of Infosys Technologies, took this route by aligning with an investment banking boutique to manage his family office fund. […]
Venture-controlled RFCL (formerly Ranbaxy Fine Chemicals) has emerged as a strong contender to buy the speciality chemicals business of Mallinckrodt Baker, a division of healthcare giant Covidien, in a deal which could be valued at around $450 million, industry sources said. The transaction is in the final stages of due diligence and could be finalised in about two weeks. This comes after speculation that RFCL was on the trail of a large US acquisition. If the transaction goes through it will be the biggest overseas M&A play for ICICI Ventures, which acquired RFCL around four years ago from Ranbaxy Labs for Rs 125 crore. A business TV channel had earlier reported that the deal was in the works. […]
Entertainment major, Shemaroo Entertainment, is in talks with private equity players to raise Rs 100 crore for fuelling its expansion programme, a top company official said. “We are in negotiations with both, domestic and foreign private equity players to raise Rs 100 crore,” Shemaroo Entertainment Director Hiren Gada told PTI here. Shemaroo hopes to seal transactions within the next six months, Gada said. The company is mulling over diluting a portion of its equity to raise funds from private equity players. […]
Private equity(PE) firms who have been largely focused on providing growth capital in India are now eyeing distressed firms, which has been a domain of the Asset Reconstruction Companies (ARCs). While some of the PE players such as Vision Global, Eight Capital and ClearWater have specialised funds, which are targeting distressed assets, other PE firms are also looking to invest in such companies during these troubled times. According to Vision Global MD Parth Gandhi, “We’re in talks with around 10 such companies. In the next two-months we’ll be able to close in a few deals. With the current slowdown in the economy, a lot of companies have not been able to meet their growth projections and are facing an acute credit crunch. The idea of the fund is to tap such opportunities.” […]
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