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FINO announces closing of equity placement

Financial Information Network and Operations Ltd. (FINO), a Mumbai-based biometric enabled smart card solutions provider which is engaged primarily in providing financial and non-financial products and services to the unbanked masses nationally and internationally, today announced the closing of an equity financing round of Rs. 800 million. The investors are broadly divided between private sector banks, public sector banks and international investors. Private sector equity investors include ICIC Bank, ICICI Lombard and IFMR Trust. Public Sector equity investors include LIC, Union Bank of India, Corporation Bank and Indian Bank. International investors are represented by IFC, a private sector arm of the World Bank Group, Legatum Finance, and Intel Capital, the strategic investment arm of Intel Corporation. FINO intends to use the proceeds from the financing to set up the entire end-to-end solution of doing financial transaction at clients’ doorsteps. […]

Israel Corp., DS Constructions buy energy co for $568m

Globeleq Americas owns energy companies in Central and South America and the Caribbean. Israel Corp and its partner, DS Constructions Ltd. of India, have fully acquired Globeleq Americas Ltd. from Bermuda-registered Globeleq International Ltd. for $568 million. Israel Corp. and DS Constructions set up a joint venture, which they own in equal shares, for participation in the international tender. “Globes” was the first to report that Globeleq was the subject of the tender.

Israel Corp. said that Globeleq Americas […]

StanChart says in talks to buy stake in Indian broker

Asia-focused Standard Chartered plc is in final talks with Securities Trading Corp. of India to buy a 49 percent stake in India's UTI Securities, an executive said on Monday.

“The UTI transaction is in final due diligence,” Peter Flavel, global head of Standard Chartered's private banking business, told Reuters on the sidelines of an event.

He said the London-based emerging markets bank was looking for an option to increase its stake in the Indian securities broker to 70 percent once […]