India Dealbook: Shriram Properties IPO; Mcleod Russel exits tea estate; Sekura & CLP eye Kalpataru assets

Initial Public Offering (IPO). Image: DEALSTREETASIA

The IPO market is hotting up with PE-backed Shriram Properties securing approval from market regulator SEBI to raise Rs 1,250 crore ($180 million). As far as deals are concerned, Mcleod Russel India Ltd has decided to exit from Pfunda Tea Company Ltd by selling its existing 45 per cent stake to Scotland-registered Rwanda Tea Investments Ltd, while Sekura and CLP are in separate talks to acquire Kalpataru’s power transmission assets.

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