General Atlantic seen in talks to buy
US-Based PE investor General Atlantic is learnt to be in talks to pick up an equity stake in Bhilwara Energy, the power generation company of the LNJ Bhilwara Group for around $100-150 million, according to investment banking sources. “We are exploring a lot of opportunities, including selling stake to a private equity fund, but nothing has been firmed up yet,” said Riju Jhunjhunwala, executive director of Bhilwara Energy, while admitting that his firm was in talks with private equity firms. Bhilwara Energy is planning an investment of close to Rs 10,000 crore over the next five years. Earlier in 2007, Bhilwara Energy had raised a little over Rs 100 crore from New York Life Investment Management and Wachovia.
Ramsarup Industries in talks to raise Rs 100 cr
Ramsarup Industries, a Kolkata-based producer of steel wires, is believed to be in talks with institutional investors, including mutual funds, to raise close to Rs 100 crore to fund its expansion plans. It is learnt that the company has held talks with potential investors recently, but is yet to finalise the pricing of the share placement. A person familiar with the matter said the company is looking to place the shares at roughly Rs 110 per share. On Monday, Ramsarup shares ended at Rs 80.15, down 4.2%.
Broking houses to help themselves to liquidity
After having helped their clients raise money and also make some, brokerage firms feel it is time they helped themselves to some of the liquidity that is sloshing around, before it dries up. Three prominent domestic brokerage houses, all of them listed, are said to be looking to raise around $200 million each. The buzz is that they have already begun approaching institutional investors, hopeful that improved market conditions will help them get the desired valuations. Brokerage firms are expected to report strong growth in quarterly earnings, thanks to the upbeat mood in both the primary and secondary markets.
Patels Airtemp scrip inches up on HNI buy
Patels Airtemp is being accumulated at lower levels by HNIs and some MFs. The scrip which has been inching up on bourses, ended at Rs 58.60 on BSE on Monday. The company is debt free and has an order book of around Rs 100-110 crore. Given the government’s thrust on infrastructure, it is expected to sustain the momentum, feel analysts.
Reena Zachariah, Nishanth Vasudevan, Deeptha Rajkumar & Santosh Nair
Src:Economic Times.com
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