@Economic Times: Standalone telecom tower company TowerVision is planning to use INR 15 bn raised from a consortium of investors for scaling up capacity to 8,000 towers. The company had raised around INR 15 bn from a consortium of investors led by the Hong Kong-based Quadrangle Group. This is the second instance of capital infusion into the company. In 2008, it had raised about INR 14 bn with Morgan Stanley contributing a major chunk of this for an equity stake.
@ Business of Cinema: Satyam Cineplexes is planning to add 40 screens in 2010 across eight locations and double the number in the next two years.
@ Business Line: The Government plans on scaling nuclear capacity to 38,000 MW over the next decade. This is expected to create a strong opportunity for water solution providers. Wipro Water, a subsidiary of Wipro Ltd., plans on various collaborations towards brackish water treatment and desalination, besides purifications, recycling and wastewater reuse systems to address specific needs. The domestic market size is currently pegged at INR 20 bn.
The company provides solutions for boiler feed water, cooling water, and effluent and wastewater to the power, steel, oil and gas industry with BHEL, Hindustan Zinc, Gujarat Ambuja and Cairn Energy and potable water, process water, and effluent and wastewater treatment systems to pharma majors such Sandoz, Alkem, IPCA Labs, GSK Pharma and Aurobindo.
@ VC Circle: Belgium-based Incofin Investment Management, a global microfinance fund, plans on raising USD 139 mn. A substantial portion of this fund is planned to be invested in India. The microfinance-focused fund has, till date, invested USD 4 mn. In its first investment, the firm picked up a minority stake by investing INR 80 mn in Asomi Finance Private Ltd and in late 2009, Incofin together with Luxembourg’s MicroVentures Investments and Italy’s MicroVentures SPA invested INR 250 mn in Grameen Koota, a Bangalore-based MFI.
@ Media Mughals: News Corporation, the global media conglomerate plans on hiking its stake in the DTH venture Tata Sky. Star India has filed with the Foreign Investment Promotion Board (FIPB) seeking approval to acquire 49% stake in Tata Group’s Investment firm TS Investments. TS Investments then purchase around 20% stake in Tata Sky for INR 3.24 bn.
@vccircle: Multiplex chain INOX Leisure has acquired 43.28% stake in the rival Fame India for an amount of INR 66.48 crore in cash through bulk deals. This move will make INOX the second largest multiplex chain in India with 55 multiplexes and 204 screens.The current market capitalization of Fame is around INR 150 crore and this deal would value it at INR 153.6 crore. INOX plans to come out with an open offer to acquire another 20% which means an investment of INR 30 crore.
@Economic Times: Crest Animation Studios will be the first Indian company to have completed a full length 90-minute animation film. Crest has completed the production of its first 3D stereoscopic film Alpha and Omega (A&O). This is part of a 3 film deal with Lionsgate Family Entertainment, which will release the movie in October this year, across 2,200 theaters.
@ VC Circle: One97 Communications, a mobile value added services player, bought a stake in Singapore-based tenCube, a mobile security services company. The company’s product – WaveSecure – offers users complete protection for their mobile device, data and privacy. The company picked up a less than 25% stake for USD 1 mn.
@ Telecom Tiger: Bharati Airtel, a major player in the telecom market, recorded a marginal revenue rise of 1.44% from INR 96 bn last year to INR 97 bn at the end of December 31, 2009. The net profit increased by 2% to INR 22 bn from INR 21 bn a year ago. The company’s ARPU declined 29% from INR 324 to INR 230. The average rate per minute also declined. However, mobile value added services (MVAS) has rises as SMS revenues rose from 4.1% last year to 6% now and non-voice revenues too increased from 9.5% to 11%.
@ Money Control: OnMobile, India’s largest mobile value added services player, received its boards approval to raise INR 10 bn. The funds are expected to be raised either via debt or equity issuance. There association with large credible operators like Vodafone and Telefonica will drive income.
