From New Delhi's VC Circle, March 8:
Adani Ports and Special Economic Zone said it is set to get funding from Warburg Pincus, a couple of days after APSEZ announced it would buy out the New York-based private equity firm from a port.
Warburg Pincus will invest Rs 800 crore (about $110 million) for a 0.49% stake, according to a filing. The board of APSEZ has approved the issuance of shares.
With the investment, Warburg will join others in backing the company such as LIC, Temasek, Fidelity, GIC and Norges, said Karan Adani, chief executive of APSEZ.
The ports and logistics company will hold an extraordinary general meeting on April 6 to seek approval for the issue from shareholders.
APSEZ, India’s largest private port operator, last week said it will buy out the New York-based private equity firm from Gangavaram Port for Rs 1,954 crore (around $268 million)....
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Also in India, this time Bloomberg via Gulf News, March 2:
Mumbai: Jindal Steel & Power Ltd., India's third-largest producer of the alloy by market value, and two other groups were the latest to express interest in bidding for Reliance Naval & Engineering Ltd., according to people familiar with the matter.
For Jindal Steel, controlled by Naveen Jindal, Reliance Naval can be a captive client for the company's shipbuilding plates, said Vidya Rattan Sharma, managing director at the steelmaker, who confirmed Jindal's interest. Dubai-based shipping firm GMS and Kotak Special Situations Fund were among the others that registered to bid as of the Feb. 28 deadline, according to the people, who asked not to be identified as the matter is private....MORE
