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Textile firm Alok Industries' retail venture Alok Retail India is in the last leg of raising finance from private equity players, a top company official said. “We will be signing the agreement by end-this month. The funds will be raised in two tranches. We will announce the exact amount to be raised soon,” Alok Retail's Director Varun S Jiwrajka told PTI here today. He, however, did not disclose the name of the PE firm the company has identified for the deal or the amount to be raised. […] Hyderabad-headquartered infrastructure developer, GVK Power and Infrastructure (GVKPIL), today acquired the entire stake of 17 per cent held by L&T Infrastructure Development Projects in Bengaluru International Airport (BIAL) for a total consideration of Rs 686 crore. The acquisition, made through GVK Group's wholly-owned subsidiary GVK Airport Developers, was priced at Rs 105 per share. With this acquisition, GVKPIL will now hold 29 per cent in BIAL. The company, on November 29, had acquired a 12 per cent stake of the 17 per cent held by Zurich Airport for Rs 484.6 crore. […] LARSEN & TOUBRO LIMITED (L&T) Chairman and Managing Director AM Naik on Thursday said the company is seriously thinking of selling its entire stake in the Bangalore International Airport, in which it is a minority partner. The engineering and construction major has 17 per cent in the Bangalore airport, which was built at a cost of Rs 24.7 billion (US$537 million). […] IndiaCo Ventures Ltd., (IVL), the country’s only listed financial services and venture capitalist firm, said it would launch a $250 million international private equity fund next year. The proposed fund will include an India-centric fund worth Rs 500 crore and will focus on sectors such as clean energy, telecom and healthcare. “We intend to launch this fund by first quarter of next year. Both the domestic and international fund will come in two tranches over a period of time. We are currently talking to Indian investors and hedge fund institutions to raise the capital,” Dhananjay Bendre, Executive Director & COO, IVL told Express. […] Private equity firm New Silk Route (NSR), which owns a majority stake in telecom tower company Aster Infrastructure, has initiated talks with the Ruias-owned Essar Telecom Infrastructure (ETIL) for a merger. If the deal goes through, NSR will get a stake in the combined tower company. Besides, NSR and ETIL will then look for joint placement or stake sale in the combined entity, a top executive familiar with the development told ET. The Ruias had recently appointed Barclays Capital to find out strategic partners or offload a stake in its tower arm. Executives tracking the deal said that in addition to NSN-owned Aster, the Essar Group is also in talks with two other strategic investors for a stake sale or even a complete sale of its tower assets. […] United Biscuits, the world’s third largest biscuit maker, is making its Indian foray by taking over the manufacturing facility of a little-known Himachal Pradesh (HP) firm, according to a media report. The UK-based makers of McVitie’s, Hoola Hoops and Jacob’s Cream Crackers brands is buying the facility of SS Food Industries (SSFI) that makes biscuits for exports to Africa and the Middle East, a person with direct knowledge of the development said. McVitie’s, a digestive biscuit made of wheat and high fibre, occupies a distinct ‘health’ positioning. It is expected to compete with Britannia’s Marie Gold and NutriChoice and Sunfeast Marie Lite. […] |