Novelis, the international subsidiary of Hindalco Industries, could bid for the rolled products division of global metals major Rio Tinto Alcan as the Aditya Birla Group seeks to buy high value manufacturing products in Europe and the US.

Maytas Infra, which was earlier promoted by disgraced Satyam founder B Ramalinga Raju’s elder son Teja Raju, announced that it was roping in global construction conglomerate, the Saudi BinLadin Group, as a co-promoter. Maytas’ new owners IL&FS will now pave the way for the Saudi BinLadin Group to pick up a 20% stake in the company through a preferential allotment of 1,54,59,133 equity shares to its Mauritius-based arm, SBG Projects Investments.

Subhash Projects & Marketing aims to raise Rs 300 crore to finance its Bhiwandi water project by selling equity of the special purpose vehicle that has been created for implementation of the plan.

Infrastructure Development Finance Corporation plans to rope in a global fund manager as a strategic partner in its asset management arm, potentially looking to bolster the business at a time of turmoil in the mutual fund industry. IDFC could divest a 26% stake to an overseas fund manager as part of this exercise.

Rainbow Papers has drawn up a Rs 500-crore capex over the next two years. The capex will be used to part-finance setting up of a folding duplex board plant, a joint venture in Nigeria and acquisition of a pulp mill.

Employees of Bank of Rajasthan will go on a three-day strike to protest against the proposed merger of the bank with ICICI Bank.