ICICI Venture to tap global markets - to raise $750mn for India Advantage Fund VI
New Delhi: ICICI Venture Funds Management Company will tap the global markets early next fiscal to raise $750 million from NRIs, persons of Indian origin (PIOs) and foreign investors for its India Advantage Fund VI that will have a corpus of $1 billion.

The Foreign Investment Promotion Board has approved ICICI Venture's proposal and recommended it for consideration to the Cabinet Committee on Economic Affairs (CCEA) for final clearance; all proposals involving more than Rs600 crore foreign direct investment (FDI) calls for CCEA approval.

The fund plans to invest the proceeds in mid-size growth companies for funding acquisitions, restructurings, management buyouts and leveraged buyouts across all sectors. However, the focus would be on IT-enabled services, media, pharma, manufacturing and retail, sources said.
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Usher Agro to float IPO
Mumbai: Agri-processing company Usher Agro in its draft prospectus filed with SEBI, has offered retail investors a safety net scheme through IDBI Capital Market Services Ltd, the sole lead manager for the company's public issue.

As per the scheme, IDBI Capital Market Services offers to buyback up to 800 equity shares from the original resident individual allottees at the issue price of Rs15 per share. "The scheme will be open for a period of six months from the date of allotment of equity shares of the proposed issue," a press release by Usher Agro said here on Friday.

The company will enter the capital market with a public issue of 1.20 crore equity shares of Rs10 each at a premium of Rs5 per share to mobilise Rs18.01 crore that will be utilised for the company's modernisation and expansion plan including the setting up of the wheat roller flour mill at Mathura of the capacity 250 tonnes per day.
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Gammon Infrastructure to float IPO
Mumbai: Gammon Infrastructure Projects Ltd (GIPL), a part of Gammon India, currently developing roads, bridges, ports and hydro power projects has filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI) for its forthcoming initial public offering.

The company plans to enter the capital market with a public issue of 2.71 crore equity shares of Rs10 each for cash at a premium to be decided through a book-building process. The issue will constitute 17.50 per cent of the fully diluted post-issue equity capital and with the green shoe option it would amount to 19.61 per cent of the post-issue equity capital.

GIPL has identified the following areas for project development and infrastructure investment: urban infrastructure, airports, special economic zones, water and waste water management, railways, power transmission lines and agricultural infrastructure.
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Lokesh Machines to enter capital market
Hyderabad: Lokesh Machines, the Hyderabad-based machine tool company, is entering the capital market with a maiden offer of 30 lakh equity shares of Rs 10 each at a premium, to part fund its expansion and modernisation drive.

The company is poised to raise about Rs45 crore through the book building process. Its shares have been placed in the price band of Rs130-140 per share. The IPO funds would be deployed in this expansion and to meet the working capital requirements.
Established in 1984, Lokesh Machines has grown to a company with revenues of Rs100 crore. In the last five years, it has registered a compounded annual growth rate of 30 per cent.
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