March 2007
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NYLIM India Fund invests USD 12 mn in Bajaj Motors

Mauritius-based foreign venture capital investor New York Life Investment Management India Fund (NYLIM India Fund) has injected USD 12 mn as equity investment into Bajaj Motors Ltd (BML).

Commenting on the deal, BML Chairman-cum-Managing Director V P Bajaj said, “The … […]

Tata Power to Buy Bumi Mines Stake for $1.3 Billion

Power Co., India's second- biggest utility by sales, agreed to pay $1.3 billion for a 30 percent stake of two coal mining units in Indonesia to secure supplies of the fuel.

PT Bumi Resources, Asia's third-largest coal miner, will sell … […]

HK firm picks up 51% stake in RFF

Kerry Logistics Network, part of the Hong Kong-based KUOK Group, a conglomerate with diversified interests in logistics, property, hotels & resorts among others, has picked up 51% equity stake in Chennai-based Rs 75 crore Reliable Freight Forwarders for an undisclosed … […]

Moser Baer arm picks up 40% stake in Slovenia co

Moser Baer Photo Voltaic (MBPV), a wholly-owned subsidiary of Moser Baer India, has picked up 40% stake in Slovenia-based Solarvalue Proizvodnja would acquire the stake from Germany-based Solarvalue AG, which currently holds 100% stake in the Slovenian company involved in … […]

India TV gets $11.5 mn foreign investment

Indian language news channel India TV has attracted an investment of $11.5 million from FUSE+Media, an affiliate of leading international venture fund ComVentures.

FUSE+Media has invested in India TV through Mauritius-based CV Global Holdings.

'The partnership will strengthen India TV's … […]

Actis, Argon acquire 20% in Phoenix Lamps

Private equity investor Actis and its affiliates have acquired a 20 per cent stake in Phoenix Lamps for Rs 106.45 crore, taking their holding in the company to over 66 per cent.

The open offer to the shareholders of Phoenix … […]

Sitel acquires TCS, Tata's stake in Indian arm

Global Business Process Outsourcing (BPO) major, Sitel Corporation, acquired TCS and Tata Group's 50% holding in the Sitel India JV for around $22 million.

Sitel India was a joint venture between Tata Group and Sitel, formed in 2000, with both … […]

Batliboi Acquires 100% Stake In Canadian Firm For Rs. 22 Cr.

Batliboi, one of the oldest machine tool and engineering companies, announced that the company has acquired 100% stake in Quickmill Inc. Canada, for a consideration of around Rs. 22 crores.

The Chairman and Managing Director, Nirmal Bhogilal, said that the … […]

PE funds likely to be regulated

Private equity (PE) funds may come under the regulatory scanner in India.   Though the ultimate regulator has not been decided upon, both Securities and Exchange Board of India (SEBI) and Reserve Bank of India have formed study groups to analyse the structure and impact of such funds on the investors, the companies in which they invest in and their effect on corporate governance.   The issue has gained importance as a working group of International Organisation of Securities […]

Vishal Cotspin to merge with Madanapalle Spinning Mills Ltd

Vishal Cotspin Ltd has announced that the Board of Directors of the Company at its meeting held on March 26, 2007, has unanimously approved the scheme of merger of the Company with Madanapalle Spinning Mills Ltd (MSM).

The merger shall … […]