Saravana Global Energy Ltd. (SGEL), a leading manufacturer of high voltage electro-porcelain insulators, has received an equity investment of $25 million from NYLIM Jacob Ballas India Fund III, LLC, a Mauritius-domiciled private equity investor. MAPE Advisory Group acted as advisors to the transaction.
The investment would be utilised to finance the setting up of a new [...]
Merrill Lynch & Co., leading global investment bank, has appointed Kevan Watts as president of its Indian arm. Watts, 57, will work with Hemendra Kothari, chairman of DSP Merrill Lynch, in which Merrill owns 90 percent, a company press release said.
Greg Fleming, president of Merrill Lynch, said on the appointment: “India is a critical growth [...]
Indian Railways under minister Lalu Prasad Yadav (in the picture with Harvard students) had been a case study in top B-Schools like Indian Institute of Management Ahmedabad and foreign b-school students from Wharton and Harvard had visited him to listen to his turnaround story.
Now seasoned corporate executives may also have a thing or two to [...]
Despite concerns of an impending slowdown in global commodity cycle, investors are not shying from putting money into metal sector. The latest to join is Japanese investment major, Orix, which has pitched in with $20 million or about Rs 80 crore for a steel unit for Kolkata-based Maithan Group. The fund will be part of [...]
The private sector container business, a sector which private equity players are targeting, is set to grow. The number of trains run by private sector operators is expected to increase to 50-55 by the end of this year, Lalu Prasad Yadav, the Railways Minister, said in his Rail Budget speech today. The objective is to [...]
Here is an interesting development for the Indian capital markets. One of the world’s largest hedge funds - Renaissance Technologies (see the Wikipedia entry)- has set up shop in India as a foreign institutional investor, Business Standard reports. The New York based fund has received the approval from the capital market regulator SEBI. The entry [...]
If anyone is looking to buy a majority stake in the Indian unit of GE Money, the consumer finance arm of General Electric, they will know where to start from. The multinational has reportedly pegged the base price of the unit around $400 million, The Economic Times reports, quoting industry officials. Apparently, that is the [...]
A few big private equity deals are falling through. Close on the heels of Indivision India Partners calling off their Rs 250-crore deal to pick up 4.9 per cent in direct-to-home satellite television company Dish TV, here is another big one that has failed to take off. Mumbai-based private equity biggie ICICI Venture and Jaypee [...]
This is the largest merger in the Indian banking industry, a precursor to the opening up of the sector for foreign banks in 2009. The merger of HDFC Bank with Centurion Bank of Punjab (which will now renamed as HDFC Bank) is worth Rs 9,526 crore ($2.38 billion). The sector has till now seen only [...]
A first of its kind defence sector focused venture fund, backed by a high-powered team of defence and finance honchos, is planning to bring in upto $300 million (about Rs 1,200 crore) into India. Mumbai-based India Rizing Fund is looking to fund SMEs engaged in defence equipment related production.
The fund is led by ex country [...]
The broadcast regulator, TRAI, has recommended an increase in the foreign direct investment (FDI) cap in private FM radio channels while also suggesting allowing FM radio companies to broadcast news. In its latest recommendations to the government on the third phase of FM licensing, TRAI said that the foreign holding in FM radio may be hiked to [...]
The Bombay Stock Exchange has picked up a 26 per cent stake in Ahmedabad-based National Multi-Commodity Exchange of India Ltd, or NMCE. The agreement was signed on Monday by Rajnikant Patel, Managing Director & CEO, BSE, and Kailash Gupta, Managing Director, NMCE, in the presence of BC Khatua, Chairman, Forward Markets Commission (FMC). The value [...]
This just in. HDFC Bank and Centurion Bank of Punjab have announced the merger ratio at 1:29 - one HDFC Bank share (of face value Rs 10) for every 29 equity shares (of face value Re 1) of Centurion Bank of Punjab Ltd. It has not really appealed to the stock market. The Centurion share [...]
Small Industries Development Bank of India (SIDBI) plans an exclusive stock exchange for small and medium enterprises (SMEs). R M Malla, Chairman and Managing Director of SIDBI, has said that the National Stock Exchange of India (NSE) had requested SIDBI for “crystallisation of the proposal”, reports Press Trust of India. SIDBI and Infrastructure Leasing and [...]
This could be the first time in the history of stock market - a bonus shares issue immediately after a high profile IPO only to compensate the public shareholders for the post-listing decline in stock prices. And it’s also the first time, a promoter (read Anil Ambani) taking a hit of as much as Rs [...]
