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Easun Reyrolle, a key player in electrical power management, plans to raise R100 crore by way of mixed instruments including private placement, offer to qualified institutional buyers (QIBs), rights offer, foreign currency loan and global depository receipts. The company is in the process of expanding its business by pursuing growth opportunities in power transmission and distribution front for which long term funds are required to be generated. It has sought shareholders' nod for the fund raising plans The fund-raising is to fuel the future growth plans and the existing endeavors of the company. This will help the company repay the existing debts (including those taken from the promoters), to meet working capital and general corporate purposes.

Hockey India League, Hero sign title sponsorship deal

The upcoming Hockey India League has signed a multi-year deal with Hero MotoCorp, the world's largest two-wheeler manufacturer, for the title sponsorship of the event. With this sponsorship, the tournament will be called as "Hero Hockey India League". Announcing this here today, Secretary General of Hockey India and Chairman Hockey India League Narinder Batra said, "We are delighted to have Hero MotoCorp as the Title Sponsor of the Hockey India League.

Aurobindo gets USFDA nod for anti-migraine tablets

Drug maker Aurobindo Pharma on Tuesday said it has received final approval from the US Food and Drug Administration (USFDA) to manufacture and market Rizatriptan Benzoate Tablets used in the treatment of migraine. The product which was tentatively approved by the FDA earlier, is ready for launch, a statement from Aurobindo said.

L&T Finance Holdings buys Family Credit for R120 cr

L&T Finance Holdings today said it has completed the acquisition of auto finance company Family Credit for R120 crore. Family Credit, which was a subsidiary of Societe Generale Consumer Finance, has presence across two-wheeler and auto financing, L&T Finance Holdings said in a filing on the BSE. In October, 2012, L&T Finance Holdings had agreed to pay R120 crore for acquisition. The acquisition will consolidate company's presence in auto financing business in India, it said. As of June 30, Family Credit had loan book size of R1,287 crore of which two-wheeler financing constituted 53% and car financing 35%. It has 53 branches across 16 states in India and has more than 1,400 dealer outlets with a customer base in excess of 400,000.

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