Mobile services provider Spice Communications has decided to sell its 875 mobile towers to a tower operating company. Some reports suggest that the towers would be sold to Quipo Telecom, a tower company promoted by Srei Group, however, The Economic Times quotes Spice’s B K Modi as saying that the deal is yet to be [...]
Private equity fund Blackstone’s $275 million investment in the Hyderabad-based media house Eenadu Group is yet to be concluded since the deal has not got approval from the government’s Foreign Investment promotion Board (FIPB). Now what is key is the life of the agreement signed between the fund and the company on January 28, 2007, [...]
Mobile content company Nazara Technologies is set to announce its second round of funding of $7 million early next month, reports DNA. This funding has been in the works for some time. According to the report, the existing investor Sequoia Capital India (it invested $1.5 million in 2006) is also expected to take part in [...]
Private equity fund Warburg Pincus has raised its stake in auto components manufacturer Amtek India Ltd to nearly 9.5 percent, reports Reuters. The firm is believed to have bought 2.92 million shares, or 2.8 percent, of the outstanding shares, of the company for Rs 204 in a block deal on Bombay Stock Exchange, the report [...]
Delhi-based IT hardware and diversified electronics company Intex Technologies plans to raise funds via an IPO or private equity placement, says a report. The company, which started as an importer of ethernet cards from Taiwan in 1996, is now a leading distributor and manufacturer of computer peripherals. The company also recently ventured into the marketing [...]
Boston-based Venus Capital Management has launched its first private equity offering to invest in late stage India-based companies. The firm is also readying a beta product and a real estate offering for the region to be launched next year, says a report. Venus is targeting between $25 million to $50 million. “It will invest in [...]
Global Broadcast News Ltd, the Delhi-based broadcaster of news channels, CNN-IBN and IBN 7, has got the government nod to induct up to 26 per cent foreign direct investment (including foreign institutional investors) at an investment of Rs 500 crore. The company already has the board approval to raise upto $200 million via international instruments.
In [...]
The government has reportedly decided to simplify the norms for mergers and acquisitions, and that could pave way for fast track deal-making. The Economic Times reports that the government may exempt companies from seeking high court sanctions for M&As, if they meet certain criteria. The ministry of company affairs is apparently working on two types [...]
Financial services space will go down as the single most active sector this year from a deal perspective with about two dozen deals being announced in this space alone. Close on the heels of $191 million capital infusion in India Infoline and in its insurance subsidiary by Singapore’s Orient Global, another global investor, State Bank [...]
The rumour about Wipro Ltd, India’s third-biggest software exporter, eyeing France’s Capgemini is back again. The Hindustan Times reports that Wipro may make a bid by the end of January, and that could value the French firm at $7 billion. Apparently the bankers Citigroup and HSBC are in discussions with the Bangalore based IT company [...]
The board of Info Edge India Ltd, the company that owns jobs portal Naukri.com, has decided to raise up to Rs 500 crore using routes like Qualified Institutional Placements (QIPs), Global Depository Reciepts, FCCB and ADR, the company has informed stock exchanges. The board, which met on December 21, also decided to increase Foreign Institutional [...]
Mumbai-based financial services firm India Infoline and its insurance subsidiary have raised Rs 750 crore from Singapore-based private equity firm Orient Global. India Infoline Ltd has raised Rs 555 crore (approximately $141 million) from Orient Global, which will acquire 3.7 million shares representing 6.48 per cent of the current equity capital of the company. The [...]
This was probably the reason why Travelguru recently gave $25 million valuation to Desiya. In October, VC Circle first reported about Travelguru acquiring online hotel consolidator Desiya.com. It’s the first M&A in Travel 2.0 - the second wave of online travel portals. In 2004, although Kuoni Travels acquired hotel booking engine Resnet from Traveljini, an [...]
Bharti Group is set to build its retail business inorganically, a replay of its earlier telecom growth strategy where it bought over companies like Skycell in Tamil Nadu, JT Mobile in Karnataka and Hexacom in Rajasthan. Bharti Enterprises is eyeing a Delhi-based retail chain Big Apple, according to The Economic Times. The firm has 65 [...]
Private equity investor Citigroup Venture Capital (CVCI) plans to pare a part of its 75 per cent stake in retail broking firm Sharekhan. The Economic Times reports that Merrill Lynch and Baring private Equity are potential suitors for the stake in the Mumbai-based company. CVCI chief Ajay Relan has confirmed to the paper that they [...]
