The Hindujas are looking to buy a majority stake in Mumbai-based publicly listed stock broking firm Networth Stock Broking. The Economic Times reports that Geneva-headquartered Amas Bank, part of the Hinduja Group, is “believed to be buying a majority stake” in the broking company. It further reported that the Hindujas could buy the shares at [...]
It’s unlikely a single day will pass without a cross border acquisition by an Indian company. Cable maker Paramount Communications Ltd, a publicly listed company, has bought UK-based AEI Cables in an all-cash deal. According to Reuters, the deal is worth some $26.5 million, which is half of the target company’s net asset size. AEI’s [...]
This is the first cross border deal in the petroleum retail and distribution space. Also it’s just the second acquisition by India’s largest, but conservative, private sector company. Mukesh Ambani’s Reliance Industries (RIL) has acquired a majority stake and management control in Mauritius-headquartered Gulf Africa Petroleum Corporation (Gapco), a petroleum distribution company present in east [...]
You have heard of the social networking websites like MySpace, Facebook, Orkut or professional networking sites like LinkedIn, but haven’t really used them or don’t know why they exist.
You may want to know why Facebook is the fastest growing social networking site, why the first SN Friendster failed, and why LinkedIn is a popular professional [...]
Business Week has an article on increasing corporate venture investments and how the likes of Google, Yahoo, Intel and Cisco are eating the lunch of professional venture capitalists whose only job is to invest in companies. Among them, the most dreaded is Google since it started acquiring startups for loose change even before VCs spotted [...]
US-based solar energy technology company SolFocus has raised $52 million (euro 38 million) in funding from venture capital funds and strategic investors. This includes $27.4 million (euro 20 million) in Series A financing for SolFocus Europe, and the balance as Series B financing for SolFocus, Inc.
Both the financings have been led by New Enterprise Associates [...]
State-owned financial institution IFCI has decided to appoint a due diligence advisor for its stake sale. The board of the Delhi-based lender, which met today, felt that the “process of induction of the strategic investor needs to be strengthened by a Due Diligence Advisor of stature to guide and advise the board”. (Any idea who [...]
Leading infrastructure equipment rental company Quipo plans to raise $100 million from private equity investors to fund the expansion of its telecom tower business, reports The Economic Times. Quipo, part of the Srei Infrastructure Finance Group, is a leading provider of equipment to construction, oil and gas and telecom industries through its four subsidiaries - [...]
World Bank’s private equity arm International Finance Corporation (IFC) is one of the few private equity investors targeting a stake in leading retail broking firm Angel Broking, reports Business Standard.
The group is in advanced discussions with four global investors and IFC is one of them, the report says. It quotes Angel Broking Chairman and Managing [...]
Ahmedabad-based wireless technologies company Net4Nuts is looking to raise $2 million in its second round of venture capital funding, reports Business Standard. The company had received its first investment form GVFL, earlier known as Gujarat Venture Finance. Net4Nuts had recently launched an application MeOnGo, which enables push email on all internet supporting mobile devices. It [...]
India’s largest private sector bank, ICICI Bank, has syndicated a $1.5 billion dual currency loan to 28 foreign banks. This is India’s largest offshore syndicated loan financing by a financial institution. The Mumbai-based bank has signed a multi-tranche syndication loan agreement in Singapore today, a release said.
The facility is split into three tranches: $500 million [...]
Ambit Corporate Finance Pte and Avendus Advisors are the two investment banks advising the sellers in Patni Computer Systems. The Economic Times reports that Ambit has been appointed by Patni Computer Systems to advise on the stake sale by the two young Patni brothers Ashok and Gajendra Patni and the private equity investor General Atlantic.
Avendus [...]
Venture capital funds and private equity investors have invested $433 million in clean tech companies since 2001, says a report in Mint. Since it’s over a six year period, it does not look a large number. But the report adds that half of the deals have happened in the last one year, an indication of [...]
Pune-based Baba N Kalyani wants to do a Tulsi Tanti, another fellow Pune-ite and the chairman of highly successful wind turbine maker Suzlon Energy. The city-based diversified engineering group, Kalyani Group, is entering wind turbine business with the acquisition of RSBconsult GmbH, Germany-based wind turbine maker. The financial terms of the deal are undisclosed.
Kalyani is [...]
Vijay Mallya will soon earn the title of M&A man of India, if he hasn’t already. Mallya is reportedly eyeing a controlling personal stake in Epic Aircraft, a US-based manufacturer of twin engine and light aircraft (Mallya himself flies in a originally 140-seater 727 Boeing - which is converted into a 20-odd seater personal jet [...]
