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Weekly newsletter
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Top Headlines
Future Venture picks up 33% stake in KFC Shoemaker.
IAN incubatee Joognu raises over $100K in angel funding.
Fortis Healthcare raising $100M from IFC, separately up to
$83M through IPP.
Etihad to buy 24% of Jet Airways for $379M.
Information security products firm Seclore raises $6M in
Series A from Helion, Ventureast.
Tata Technologies acquires US-based Cambric for $32.5M
Inside The News
Future Venture picks up 33% stake in KFC Shoemaker
Future Ventures India Ltd (FVIL) has invested an undisclosed sum in
KFC Shoemaker which has footwear brands like âTrèsmodeâ and
âSolovogaâ. It has picked 33 per cent stake in the company, Future
Ventures disclosed to the stock exchanges on Friday.This is the second
investment by the firm in the footwear business. It had earlier put
money in Clarks Future Footwear, a 50:50 JV with UKâs C&J Clark
International. ts distribution channel comprises of Trèsmode stores in
addition to shop-in-shops within outlets run by Shoppers Stop, Central,
Pantaloon and Reliance Retail across the country. The firm had
revenues of Rs 25.89 crore for the year ended March 31, 2013 as against
Rs 21.52 crore in FY12.
IAN incubatee Joognu raises over $100K in angel funding.
Joognu Technologies Pvt Ltd, the company that owns and operates
Joognu.com, a portal for memoirs for parents, has raised Rs 60 lakh
($110,000) in angel funding from Kishor Gokhru (a large sub-broker for
Sharekhan). The funds were raised few weeks ago and is primarily
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being invested in product development and marketing.The Ahmedabad-
based startup was founded by Anirvan Dam in August 2011. Prior to
Joognu, Dam worked at companies like Aviva-COFCO Life Insurance
Company, Radio Mirchi and Citibank India.
Fortis Healthcare raising $100M from IFC, separately up to
$83M through IPP.
Fortis Healthcare Ltd is looking to raise $100 million (Rs 54.2 crore)
from International Finance Corporation (IFC) through a mix of equity
and foreign currency convertible bonds (FCCB).The board of directors
of the company have authorised the issuance of 28.6 million shares to
IFC for a total value of $45 million. In addition, the company will also
issue foreign currency convertible bonds (FCCB) worth $55 million to
IFC convertible at the floor price of Rs 99.09, according to a release filed
by the company in the stock market.Simultaneously, the firm is also
issuing between 34.9 million to 45 million fresh shares through an
Institutional Placement Programme (IPP), the company disclosed.
Etihad to buy 24% of Jet Airways for $379M.
Naresh Goyal-led Jet Airways has inked a deal to sell 24 per cent stake in
the countryâs second largest carrier to Abu Dhabi-based Etihad Airways
through a preferential allotment for $379 million.As per the terms of the
agreement, Etihad will pick up 27.2 million shares at a price of not less
than Rs 754.7 a unit, translating to a deal worth Rs 2,057 crore ($379
million), Jet Airways has disclosed on Wednesday. It will acquire 24 per
cent of the expanded capital base.Simultaneously, Etihad is also putting
$150 million to buy a majority stake in Jet Privilege, the frequent flier
programme of the airlines. This is expected to be completed in the next
six months. Two months ago, Jet Airways divested its three parking slots
at Londonâs Heathrow Airport to Etihad Airways for $70 million (Rs 380
crore), in what was seen as a first leg of the larger, impending deal. This
takes the total commitment by Etihad in Jet Airways at around $600
million.
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Information security products firm Seclore raises $6M in
Series A from Helion, Ventureast.
Mumbai-based Seclore Technology Pvt Ltd, which provides information
security products to enterprises, has raised $6 million (Rs 32.5 crore) in
its series A funding from Helion Venture Partners and Ventureast
Proactive Fund.As part of the deal, Helion MD Rahul Chandra and
Ventureastâs general partner Raghuveer Medhu will join the board of
the company.A major chunk of the money will be used for global
expansion while the rest will be utilised to expand the technology team.
Tata Technologies acquires US-based Cambric for $32.5M
Tata Motors' engineering services arm Tata Technologies Ltd has
acquired Cambric Corporation, a US-based engineering services
company from an unnamed private equity investor, for $32.5 million
(Rs 176 crore) to strengthen its footprint globally, especially In Europe,
according to a company statement.Cambric has significant footprint in
eastern Europe, with three development centres in Romania with team
of 450 engineers. It had revenues of $25 million as of 31 December
2012, majority of which came from construction and heavy equipment
sector.