Avantha Group Scouts For Acquisitions - Avantha Group, a diversified business conglomerate with interest in areas including power generation, manufacturing and education space, is scouting for possible acquisition to expand its Crompton Greaves and BILT business. The company plans to scale up its Crompton Greaves biz at a scale that will generate up to $5.5-6 billion in revenues. It also wants Rs 10,000 crore sales from power biz over the next five years, which is currently at Rs 4000 crore. (Economic Times)

Sterlite Raises $500 Million – Tamil Nadu-based metals and mining company Sterlite Industries has raised $500 million in senior notes, which are convertible into American Depositary Shares (ADS) at an initial conversion price of approximately $23.33 per ADS. The company intends to use the proceeds for expansion of its copper business with allied power plant and acquisition of complementary businesses outside of India. Deutsche Bank Securities and Morgan Stanley were acting as joint book runners for the offering. (Times of India)

Duet, DLF Hotel Plot Talks Called Off - Duet India Hotels Ltd (DIH), the private equity firm focused on the hospitality sector, has called off talks for picking up a 2-acre Gurgaon hotel plot from DLF. The asking rate for the DLF plot was around Rs 10,000 per square feet and was supposedly brought down to Rs 8,000. The PE firm is currently in negotiations for a large brownfield development in south India for its foray in the five-star hospitality segment in the country. (DNA)

More : vccircle.com

A Gurgaon Property Classifieds.