July 2009
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Nomura to find PE investors for MCX-SX stake sale

The country's third largest national level stock exchange, MCX Stock Exchange (MCX-SX), has appointed global investment banker Nomura Financial Advisory for selling stake in the company to private equity firms. MCX-SX, promoted by Financial Technologies (India), currently runs currency derivatives trading and is awaiting regulatory approval to begin equity trading. MCX-SX, which is understood to be in talks with several private equity firms for selling stake in the company, has appointed an investment banker for divestment process. […]

Lightspeed Venture Partners Leads Rs. 500 Million Investment into Essel Group’s Itz Cash Card Ltd.

Lightspeed Venture Partners, a leading global venture capital and growth equity firm, has led an investment of Rs.500 million in Itz Cash Card Ltd., India’s largest multi- purpose pre-paid card company, along with existing investors Matrix Partners India and Intel Capital. The investment will be used by ItzCash Card to further expand its product portfolio and diversify its business, including venturing into the retail payments space. With this investment, Mr. Bejul Somaia, Managing Director, Lightspeed Advisory Services India Private Ltd. will be joining the board of Itz Cash Card Ltd.. The amount invested will help ItzCash Card to scale the existing business and tap new products and market segments. […]

ICL Financial acquires 53% stake in Indo Zinc

ICL Financial Services, a wholly-owned subsidiary of India Cements is increasing its stake in Indo Zinc by an additional 39.84 per ce-nt. As a result, ICLFSL’s st-ake in Indo Zinc will incre-ase to nearly 53 per cent, since it already held a 13 per cent stake in the latter. The acquisition of this additional stake will set in the process of complying with the relevant provisions of Sebi (substantial acquisition of shares and take-overs) regulations, and will go for an open offer to acquire a minimum of another 20 per cent. ICLFSL has entered into a share purchase agreement on July 19 with the promoters of Indo Zinc for purchase of a little more than 17.87 lakh equity sha-res of Rs 10 each fully paid up in Indo Zinc, constituting 39.84 per cent of its paid up equity share capital, India Cements infor-med BSE on Monday. […]