June 2007
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Infosys may bid for Capgemini: Report

Infosys Technologies, India`s second-largest software maker, plans to bid for Paris-based European consulting company Capgemini, a newspaper reported, citing unnamed industry sources. The Bangalore-based company will use cash reserves amounting to 62 billion rupees (1.5 billion dollars) to fund the bid, the newspaper said in a front-page report. Infoysys officials were not immediately available to comment on the report. The Times of India said an Infosys spokesperson declined to comment. […]

TCS close to acquiring 2 firms in Latin America for Rs 200 cr

The $4.3 billion Indian IT services provider, Tata Consulting Service (TCS), is close to acquiring two IT firms in Latin America. The estimated value of these two firms is around Rs 200 crore. TCS, with a considerable presence in Latin America, has completed due diligence of the targeted companies. Sources close to the development said that TCS was looking at one business process outsourcing (BPO) company and an IT services company. […]

IL&FS to wrap up $400 mn PE fund

IL&FS Investment Managers Limited (IIML), the publicly listed private equity arm of IL&FS, is set to close its $400 million fund by October 2007. It will have its first closure of $150 million by July-end and the remaining would be wrapped up by October. This is IIML’s sixth fund and will be its largest fund after the $525 million real estate fund launched in 2006. With this $400 million fund, IIML is more than doubling its fund size from the earlier $153 million Leverage India Fund. […]

RTS Power to sell 14.5% stake to strategic partner

CNBC-TV18 has learnt that domestic electric equipment maker RTS Power is likely to sell 14.5% stake to a strategic partner. A couple of leading power equipment companies are in the race to acquire stake, sources said. The company may issue preferential shares to strategic investors. Companies like Kalpataru Power and ABB are the likely contenders. It was also in talks with L&T at some point of time. RTS Power was looking for a strategic partner to bring in a lot of business. […]

Japan’s Orix to pick 5% in IL&FS arm for Rs 36 crore

Japanese financial services giant Orix is picking up a 5% stake in IL&FS Securities Services (ISSL) for Rs 36 crore. The stake purchase by the $8-billion Japanese company puts the enterprise value of ISSL at Rs 720 crore. ISSL was initially set up as a captive division within IL&FS to provide back office services. It was hived off as a separate wholly owned arm of IL&FS last year. […]

Jet looking out for PE investors for JetLite

Jet Airways, planning to launch the JetLite brand from mid-July 2007, is scouting for new investors, reports NDTV. Jet Airways after acquiring Air Sahara converted the airliner into a low-cost carrier under the brand JetLite. It is said that Temasek, Istithmar and TPG are the front runners to bag the deal. Jet may be willing to divest up to 25% stake in the airline and needs more than Rs 2 billion to revive the airline. […]