The Employees Provident Fund Organisation (EPFO), which has a corpus of Rs 2,40,000 crore ($60 billion)currently and more than 4 crore subscribers, has shortlisted seven private sector funds to manage its capital. According to The Economic Times, the private asset management companies (AMCs) shortlisted are Reliance Mutual Fund, HDFC, ICICI Prudential, Templeton, HSBC, the Tatas, [...]
IPO Analysis: BK Modi is back in the deal street. However, this time they are not cashing out. Modis’ mobile value added services (VAS) company Cellebrum Technologies is going public which could well be the first step before Modis would look for buyers. Besides the public float, Lehman Brothers backed Cellebrum is also looking to [...]
KP Singh (pictured), the chairman of the country’s biggest real estate developer DLF, is trying to do an Anil Ambani (remember Reliance Power?) for its shareholders. The firm, which went public last year and is currently trading at one third of its January highs of Rs 1,225 (before markets crashed) and about 20 per cent [...]
Anil Ambani’s Reliance Money has entered into an agreement with the third largest commodity exchange in the country, National Multi-Commodity Exchange (NMCE), to pick up to 26 per cent stake in the bourse. Six months ago Bombay Stock Exchange (BSE) had picked up 26 per cent in NMCE for Rs 100 crore and Reliance Money [...]
Special Undertaking of UTI (SUUTI), which was formed to take over the assets of US-64 after they plunged drastically in 2002, is planning to offload 17 per cent of its 27 per cent stake in Axis Bank. The Business Standard reported that SUUTI plans to sell its stake through block deals on the stock market, but will [...]
The wealthiest charitable foundation in the world, Bill & Melinda Gates Foundation, can’t sometimes resist the temptations of for-profit-only investments in India. In a unique deal, the Foundation has bought 98,790 shares of the Tata Group-owned retail chain Trent Ltd for a sum of Rs 4.47 crore. The seller is a Morgan Stanley FII unit. [...]
From global acquisitions to global listing, India’s Tata group is turning adept at the game. India’s largest private steel maker, Tata Steel, plans to list Tata Steel Global Resources, its holding company for steel and raw material assets outside India, on the London Stock Exchange (LSE), Mint has reported. The funds raised will be used [...]
The largest Japanese securities firm Nomura Group, which was last year negotiating to acquire a major stake in domestic investment bank Enam Securities, is now going solo in India. According to a report in Business Standard, Nomura is kicking off with an institutional brokerage business and has already put in place a team of seven [...]
Public issues to raise funds by Indian firms have taken a big knock. That is no surprise given the state of the markets. According to a VC Circle analysis of data compiled by Delhi-based research firm Prime Database, the total funds raised by firms through either initial public offer (IPO) or follow-on public offers (FPO) [...]
We all thought Subhiksha Trading Services, India’s first and probably the largest grocery and food retail chain, will go in for a big bang listing. But don’t expect a high octane IPO marketing campaign or roadshows from the ICICI Venture-backed company. The Chennai-headquartered Subhiksha has acquired a 40 per cent stake in an obscure listed [...]
Is Religare Enterprises, the financial services venture of the (erstwhile) Ranbaxy promoter group, close to sewing up another big ticket overseas acquisition? This seems likely. While there have been market reports that Religare is targeting few other financial firms in Europe for acquisition after buying out London’s oldest brokerage house Hichens Harrison for $110 million, [...]
India’s largest commodity exchange Multi Commodity Exchange of India (MCX) has roped in Singapore-based ratings, research and advisory firm IDEAcarbon as a strategic advisor. The two have signed a Memorandum of Understanding (MOU), under which IDEAcarbon will advise MCX on climate change policy and strategic business opportunities in carbon markets. IDEAcarbon will help MCX create [...]
Even after the Ranbaxy-Daiichi Sankyo deal was struck at a premium of around 30 per cent to the current stock price, the share has failed to catch the fancy of arbitrageurs. The Ranbaxy stock was actually down 3 per cent today to close at Rs 543.5, a 25 per cent discount to what the Japanese [...]
SKS Microfinance, the leading microfinance lender, may rope in a new investor in a year’s time, a report said. The company is also planning to go in for an IPO if required, The Economic Times reported, quoting SKS Microfinance CEO Vikram Nakula.
SKS plans to raise its equity base from current Rs 214 crore to Rs [...]
Now that the promoters of Ranbaxy Laboratories have exited the company, the question remains what will the other big stakeholders in the company will do? Life Insurance Corporation of India, who has a 15.84 per cent stake in Ranbaxy, is considering an exit.
But it depends on the “prevailing market conditions” at the time of the [...]
