Eredene Capital Plc. said its unit will invest up to 2.6 million pounds in a new logistic park at Kalinganagar in Orissa, India, through its joint venture partner Apeejay Infra-Logistics Pvt. Ltd. Both the partners have invested an initial 68,000 pounds each for an 80-year lease on the land near Khurnti village close to the Kalinganagare industrial complex, which is emerging as one of the largest steel clusters in India, the investor in Indian infrastructure and real estate said. The park will service the Kalinganagar region and it will specifically target the in-bound and out-bound cargo centred around the steel industry, it added. Steel companies such as Tata Steel, ArcelorMittal, South Korean Posco, Jindal Stainless Steel and Nilanchal Ispat Nigam Ltd. all have or are developing major plants in and around the Kalinganagar region, the company said.   more »

A multinational venture capital fund has invested “sizeably” in New Horizon Media (NHM), a closely held corporation having published over 650 books that have sold 250,000 copies, its co-founder K. Satyanarayan said here Wednesday. The company, however, refrained from giving details about the share of the company being given to Beacon India Private Equity Fund, the Indian subsidiary of the international $200 million Baer Capital Partners. Launched four years ago by a former founder of a major cricket website and two IIT graduates, Badri Sheshadri, Satyanarayan and Ananthkumar, NHM has published works of well known journalists and writers in three languages, Satyanarayan said.   more »

Intercontinental Exchange Holdings Inc may be required to sell a portion of its stake in India's National Commodity Derivatives Exchange (NCDEX), and the bourse has already been approached by many financial institutions, its chief executive said on Wednesday. The Atlanta-based exchange said it was in talks with the Indian Government about the possibility of holding on to its 8 percent stake in NCDEX, or lowering it to the mandatory 5 percent regulatory cap. ICE CEO Jeff Sprecher said it has been approached by a host of institutions, including global exchanges, financial services companies and banks for the "extra piece" it holds.   more »