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SEBI to respond to VCF/FVCI applicants in 21 days

Market regulator Securities and Exchange Board of India (SEBI) yesterday issued general directions for investors that it will respond to applications for registration of venture capital funds (VCFs) or foreign venture capital investors (FVCI) within 21 days.

Advising investors on … [...]

BSE to sell 41% to 20 investors

The Bombay Stock Exchange (BSE) is selling another 41 per cent stake to 20 investors, including domestic and foreign financial institutions, for about $ 384 million, becoming the biggest private placement of equity ever to be held in the country. [...]

An investment avenue for the rich, famous

With the RBI allowing individuals to invest up to $50,000 in overseas investments per financial year, a new avenue to send your money to work abroad has opened up. [...]

LIC may buy UTI Bank

Life Insurance Corporation (LIC) may get the government’s nod to acquire UTI Bank. The acquisition will give the country’s largest insurance company an entry into the banking sector.

At present, LIC holds 10.38% stake in UTI bank. LIC may get … [...]

ICICI Venture exits seven cos

With the government withdrawing the blanket pass-through taxation status of private equity(PE) funds based in the country, domestic funds appear to be rejigging their portfolios smartly. ICICI Venture made a partial exit from seven listed companies in its portfolio in … [...]

3i Plans $5 Billion Indian Infrastructure Fund

3i Group Plc, Europe's biggest publicly traded buyout and venture capital firm, plans to raise $5 billion for a fund to invest in Indian ports, power plants and roads, two people with knowledge of the plan said.

The initial target … [...]

Jet Airways to buy Air Sahara

India’s largest private carrier Jet Airways said it had clinched a deal on Thursday to take over domestic rival Air Sahara after an earlier proposed $500-million agreement collapsed.

The takeover valued at Rs14.5 billion ($337.8 million) will be India’s largest … [...]

Burmans to float $150m PE fund

The sons of Dabur India chairman VC Burman—Mohit and Gaurav—are floating a private equity fund to invest in Indian companies. Even though a source close to Mohit Burman said it was premature to comment on the fund, an international media … [...]

3i plans to invest $5 bn in core sector

The world’s largest listed player in the private equity (PE) and venture capital (VC) business, 3i, is planning a booster shot for India’s infrastructure. The UK-based company has indicated to the Indian government that it would invest over $5 billion … [...]