July 2007
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Bharti to Spend $1 Billion on Towers, May Sell Stake

Bharti Airtel Ltd., India's largest mobile-phone operator, will spend $1 billion to expand transmission towers before joining rival Reliance Communications Ltd. in selling shares in the unit to investors. Bharti Airtel plans to sell a stake in the wholly owned tower subsidiary, Chief Executive Officer Manoj Kohli said in an interview today, without giving a timeframe. The unit will grow to be the world's biggest by the end of the year, he said. “A separate tower company gets a much better valuation than a single entity,'' said Mahesh Patil, who helps manage the equivalent of $1.5 billion in equity assets at Birla Sun Life Asset Management Co. in Mumbai. The incremental value creation in Bharti's case could be as much as $12 billion, said Patil, who has Bharti as his largest holding. Reliance Communications, India's second-largest wireless operator, valued its tower assets at 270 billion rupees ($6.7 billion) when it sold a 5 percent stake, more than the entire company's market value when it went public last year. […]

Investors bought stake in Bag Glamour

Bollywood star Shah Rukh Khan and wife Gauri Khan will buy 10 per cent stake in BAG Glamour, the new entity promoted by Anuradha Prasad. BAG Glamour, which will soon launch channels in the entertainment and lifestyle space, is part of the the parent company BAG Films & Media Ltd. Sources confirmed the development adding that the actor and his spouse will hold the stake in their personal capacity. The other investors in BAG Glamour will be India Bulls’ promoter Sameer Gehlaut, who will buy 15 per cent, Kolkata-based private investor High Growth will have 15 per cent, and the remaining 60 per cent will be held by the parent company and promoters such as Anuradha Prasad, Rajiv Shukla among others. When contacted, Chairman and Managing Director, BAG Films & Media, Anuradha Prasad declined to comment. […]

Baring India to acquire 45 pc stake in JRG Securities

Baring India will acquire 44.8 per cent stake in brokerage house JRG Securities for 35 million dollar through a preferential issue. The deal is subject to approvals from the Securities and Exchange Board of India (SEBI), shareholders and other regulatory authorities. The Board of Directors today approved the investment proposal for further consent of shareholders, JRG Securities said in communique to the Bombay Stock Exchange (BSE). […]