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NTT to buy 74% stake in Netmagic

NTT Communications Corp., a unit of Japan’s Nippon Telegraph and Telephone Corp, will buy a 74% stake in Indian data centre services provider Netmagic Solutions Pvt. Ltd. While financial details of the transaction were not disclosed, Telecompaper, an independent research and publishing firm focused on the telecom industry, pegged the transaction to be around 10 billion Japanese yen (Rs.642 crore). A person directly involved with the deal confirmed the transaction value. He spoke on condition of anonymity. Netmagic operates seven [...]

NMCE promoters in talks with PE players, banks to dilute stake

Ahmedabad-based National Multi Commodity Exchange (NMCE) is in talks with five private equity players and large private banks to divest part of shareholders’ equity in the exchange, to meet the regulatory guidelines before the extended deadline of March 31, 2012. Currently, the exchange has an equity share capital of Rs 19.12 crore, which, according to revised guidelines, should be raised to at least Rs 50 crore before March 31. Also, the promoters’ stake needs to be brought down to 26 [...]

IOC venture gets Rs 100-cr investment from IIDF

IOT Infrastructure & Energy Services Ltd (IOT) announced on Monday that Rs 100 crore have been invested in the company by India Infrastructure Development Fund (IIDF), a private equity fund managed by UTI Capital. IOT is a joint venture between Indian Oil Corporation (IOC) and Oiltanking GmbH of Germany. The fresh investment will help IOT meet its capital requirements for various projects including the over 1.4 million kilolitre petroleum product facility at IOC Paradip refinery and the proposed 1.92 lakh [...]

GMR close to Rs 600-cr private equity deal for highways business

GMR Infrastructure is understood to be giving final touches to raise close to Rs 600 crore through the private equity (PE) route to fund expansion of its highways business. Investment bankers close to the company indicate a deal is expected to be signed within three weeks. This will facilitate financial closure for the Rs 7,500-crore highway project the Bangalore-based firm won in October, for a 555-km stretch from Ahmedabad to Kishangarh, Rajasthan (about 30 km from Ajmer). The company, according [...]