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The government is reviewing norms for investments by foreign venture capital funds in real estate, after the Reserve Bank of India coming round to the view that such funding is helping create an asset bubble in the sector. There is a view in the government that such funding in the sector should be stopped completely, sources close to the development said. […] The Raheja’s and Star TV are together selling 15 per cent in cable network operator Hathway Cable to private equity firm ChrysCapital. The sale consideration is estimated at around $60 million (around Rs 245 crore), thus valuing the closely-held company at $400 million (around Rs 1,640 crore). ChrysCapital is buying around 11 per cent from the Raheja’s and another 4 per cent from Star TV, which holds a 26 per cent stake in the company. Star TV had invested $75 million for the stake. […] Television broadcaster NDTV, which has announced plans to float lifestyle and entertainment channels, will raise Rs 400 crore through a mix of debt and equity. The company's board of directors has approved the fund-raising scheme through preferential issue, qualified institutional placement (QIP), follow-on issue, or rights issue constituting a combination of equity shares, convertible debentures, convertible preference shares and warrants etc. […] Manufacturer of medical diagnostics and cardiac products Opto Circuits (India) is planning to raise about USD 20 million from strategic investors in the U.S; in attempt to realise its plans to venture into the U.S. market with its range of cardiac care products, reports Business Standard. Opto Circuits the Bangalore-based company will use the amount raised, to fund its expansion in the U.S market. […] Anil Ambani Group company Reliance Capital has acquired equity stake in Precision Wires India, a maker of enamelled copper wires, for Rs 17.7 crore. The Board of Directors of Precision Wires allotted 10 lakh shares at a price of Rs 177.15 each upon conversion of convertible debentures to Reliance Capital Trustee Company on account of Reliance Tax Saver (ELSS) Fund. […] Mumbai-based Temptation Foods (TFL), a frozen food marketer, is understood to be inking a deal with HLL to acquire its marine product business division for around Rs 100-120 crore. The deal would also include transfer of the people managing the marine business in HLL to TFL. HLL’s marine division exports products like crabsticks, shrimps and fish fillets among others. The company had earlier short-listed four bidders for the sale. […] Nasscom is set to launch a Venture Fund along with Hyderabad-based ICICI Knowledge Park, an arm of the ICICI bank. Disclosing this to CyberMedia News here, Rajdeep Sehrawat, vice president of Nasscom, said the new Venture Fund will be under the trade body but will run as a professional Venture Fund. “We have earmarked Rs 100 crore to fund IT start-ups in India, which are involved in IP-creation. These companies could be anyone who is working on automotive electronics, wireless and broadband, life sciences, medical devices and the like,” he informed. […] The private equity arm of Asian investment bank, CLSA, has $700 million available to invest in small and medium-sized Asian companies in sectors such as real estate and consumer goods, an executive said on 23 May. Josephine Price, deputy chief … […]
Citigroup is in talks with IBM Corp. among others about selling a strategic stake in its Indian business process outsourcing (BPO) arm, Citigroup Global Services Ltd, the Mint paper said on Wednesday. Quoting industry sources, the paper said the BPO unit could be valued at over $1 billion, based on estimated annual revenues of $300 million-$400 million. […] General Electric (GE) Co India is stepping up its real-estate financing in India at a time when concerns about overheating in the sector have prompted the government as well as the Reserve Bank of India to try and curb the flow of money into commercial and residential construction. “We are looking to put to work $2 billion (Rs8,200 crore) in debt and equity across all types of real estate in India: residential, retail, townships and special economic zones (SEZs),” said Tejpreet Singh Chopra in a telephonic interview earlier this month, ahead of being named the new chief executive officer for the American conglomerate's vast and rapidly growing India operations. GE said on Monday that the 37-year-old Chopra will take over on 1 June from Scott R. Bayman, who has been GE’s India CEO for 14 years. […] |