Spicejet will raise Rs 530.76 crore or Rs 5.3 billion ($118.5 million) through issue of equity shares on preferential basis to various foreign and domestic investors.
The Chennai-based Shriram Group is likely to take over the cash-strapped front-end retail company of Vishal Retail Ltd, after leading private equity investor Texas Pacific Group takes charge of its wholesale division. This will be subject to approval from all stakeholders and regulators.
Hospital chain Fortis Healthcare on Thursday said it is acquiring 23.9 per cent stake in the Singapore-based healthcare firm Parkway Holdings for about $685.3 million (nearly Rs 3,100 crore).
R C Agarwal, promoter of beleaguered Vishal Retail, on Wednesday came out in support of the offer from Texas Pacific Group (TPG) in preference to that from Kishore Biyani's Future Group.
This low-profile group has a knack for spotting people with an entrepreneurial streak and backing them profitably.
Texas Pacific Group, the global private-equity fund, which manages around $20 billion, has named former Intel Capital managing director Varun Kapur to lead its investments in India effective this week.
Sources close to the development said the agreement between one of the private equity partners and the Patni brothers, who jointly hold 29 per cent stake, is expected to be signed next month.
Jet is believed to be in talks with leading private equity players.
Hutchison Telecom on Sunday said talks were on with various suitors for sale of its holding in joint venture Hutch-Essar in India and that there was no time-frame for a decision.
According to reports, the deal, if successful, could fetch Hutchison as much as $14 billion and would be Asia's largest private equity deal.
There's talk that the Reliance Anil Dhirubhai Ambani Group is eyeing a minority stake in the carrier. It's also possible that private equity players like Texas Pacific Group may want a slice of the low-cost carrier's equity.
The US-based private equity firm Texas Pacific group, among three others, is in talks with country's second largest airline Air Deccan for picking up a minority stake.
Private equity fund Texas Pacific Group and global financial services major Citigroup have put in their bids to acquire nearly 40 per cent stake held by the promoters in Sharekhan
The newly-formed entity which will list on the NYSE as Eros STX Entertainment Corp, will remain listed on the New York Stock Exchange, with headquarters in both Mumbai, India, and Burbank, California, and has also got $125 million in fresh funding. The merger will not change the structure of Eros's Indian arm which is also listed on Indian stock exchanges.
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