Srei Infocom To Acquire Millicom’s Africa Tower Assets - Srei Infrastructure’s telecom subsidiary, Srei Infocom, is close to buying around 60% stake in Luxembourg-based Millicom’s tower assets in Tanzania for around Rs 400 crore. Millicom is a Nasdaq-listed telecom services provider in countries spanning across Africa and the US. (Financial Express)
Canaan Partners Invests Rs 45Cr In Equitas - Venture capital investor Canaan Partners is investing Rs 45 crore in Cheinnai-based microfinance institution Equitas. Canaan has also invested upto $20 million in online shopping portal Naaptol.
Tata Motors Plans $700M DVR Issue - Tata Motors Ltd. is likely to sell shares with differential voting rights to raise around $700 million. The size of the issue will depend on what investors want and a sense of where the markets are headed. (Dow Jones)
Chinese Firm In Talks For GMR's Intergen Stake - China’s Huaneng Group, the nation’s biggest electricity producer, is in advanced talks to buy a stake in Massachusetts-based power utility InterGen for about $1.2 billion. The state-owned Chinese company is seeking 50% of InterGen and may pay India’s GMR Infrastructure as much as $1.4 billion including payments for taking over some non-operating assets. (Bloomberg Via ET)
Suven Life Sciences To Raise $20M - Pharmaceutical company Suven Life Sciences will raise $20 million before the end of this fiscal to fund clinical trials of one of its molecules aimed at treating Alzheimer's disease. The company is looking at issuing convertible bonds which could include FCCBs with a tenure of about 3-5 years to raise the requisite fund. (Economic Times)
Manappuram Plans Rs 1,000Cr QIP - Manappuram General Finance & Leasing, a Kerala-based non-banking finance company (NBFC), plans to raise around Rs 1,000 crore through a qualified institutional placement (QIP) in the third quarter of the fiscal. Manappuram plans to appoint three merchant bankers for the QIP which include Citi, Religare and Enam. (Economic Times)
Ybrant Plans Rs 700Cr Issue - Ybrant Digital, a Hyderabad-based provider of digital marketing solutions, is in the process of raising Rs 700 crore through an initial public offering (IPO) to fund its overseas expansion plans.The company is currently writing a fresh draft red herring prospectus (DRHP) and has already roped in Deutsche Bank and BNP Paribas as lead bankers. (BS)
Gati Eyes Funding For Demerged Shipping Unit - Gati Ltd, the logistics services provider, will demerge its shipping division in order to monetise and strengthen the unit’s operations. The demerged entity, called GatiShips, will be a subsidiary of the mothership. Gati is also likely to scout for a partner to infuse funds into the shipping subsidiary. (DNA)
Uco Bank Scouts For Advisors To Sell NPAs - Uco Bank, which has got Rs 675 crore as recapitalisation fund from the Centre this fiscal, is planning to sell its non-performing assets (NPAs) to the dealers in distressed assets like Arcil. The lender is scouting for a financial advisor to structure the deal. Uco bank has sticky assets of Rs 919.08 crore on its books at the end of June quarter. (Financial Express)
MVL Acquires Handset Unit - The board of MVL Ltd has taken a strategic decision of acquiring a majority stake in MVL Telecom with an investment of Rs 245 crore. This shall include an initial equity injection of Rs 120 crore, with an additional Rs 125 crore committed to start a manufacturing facility with an annual production capacity of 20 million handsets and components. (Economic Times)
