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The acquisition has been done through HIPL's 90% owned subsidiary, Continental Warehousing Corporation (Nhava Seva) Limited (CWCNSL).
HIPL will work on the Free Trade Warehousing Zone (FTWZ) project within Jawaharlal Nehru Port Trust (JNPT) - India's largest container gateway - in Navi Mumbai, Maharashtra.
The shareholders of HIPL include the partnership firm Brijmohan Lall Om Prakash (BMOP) which holds 71.63 per cent, and private equity (PE) investors BC India Private Investors (19.81 per cent) and Lathe Investment Pvt.
Formerly Konkan Carbon Ltd, HIPL got its present name after being acquired by Mr.
The Munjals, who hold a controlling stake in Hero Honda, are looking to raise funds to finance the buyout through stake sale in HIPL to PE and other foreign funds.
In particular, Holcim will first sell a 24% stake in its wholly-owned financial holding unit Holcim India Pvt Ltd (HIPL) to Ambuja in exchange for INR35bn (USD593m/EUR450m) in cash.
He added the transaction will be neutral to the companya[euro](tm)s EPS in the first full year following closing and accretive thereafter.Country: IndiaSector: Construction/Real EstateTarget: Holcim India Pvt Ltd (HIPL)Buyer: Ambuja Cements LtdVendor: Holcim LtdType: Corporate acquisition, RestructuringFinancing: Cash & StockStatus: AgreedComment: The deal is valued at USD2.5bn based on the current market value of Ambuja's shares.
Following Honda's exit, Hero Group promoter firm Hero Investments Pvt Ltd (HIPL's) stake in Hero Honda was increased to 43.33 per cent as of last month from 17.33 per cent earlier.
CRISIL has assigned its 'BBB-/Negative' rating to the bank facility of Himatsingka Infrastructure Pvt Ltd (HIPL, part of the Ideal Real Estate group).
Hindustan Infralog Private Limited (HIPL), a joint venture between DP World and the National Investment and Infrastructure Fund (NIIF), announces the acquisition of a 90% stake in Continental Warehousing Corporation (Nhava Seva) Ltd (CWCNSL), an integrated multimodal logistics player in India.
Hindustan Infralog Private Limited (HIPL), a joint venture between DP World and India's National Investment and Infrastructure Fund (NIIF), has acquired 90 per cent stake in Continental Warehousing Corporation (Nhava Seva) Ltd (CWCNSL).
New Delhi, June 24 -- It has been reported that the country's largest two-wheeler maker Hero Honda has stated that its promoter group firm Hero Investments (HIPL) had revoked 17.33 percent shares of the company that were pledged to three different investors.