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Bahrain-based Gulf Finance House (GFH) yesterday officially announced the launch of its $395 million private placement, to raise the equity required to fund the infrastructure of Energy City India. The investment is expected to yield a total return of at least 75 per cent over three years and the equity issue is being underwritten by Kuwait Investment Company. Following the success of the Energy City Qatar project, Energy City India is the second energy city in a series of energy- focused business clusters planned across the Middle East and Asia. […]
Malaysia`s Petronas and Swiss Co. Petroplus are eyeing stake in Cairn India`s parent, Cairn Energy, reports Business Standard. Petronas, holding 10% of Cairn India through a pre-IPO placement, wants to buy out Cairn Energy`s 69% stake in Cairn India. The takeover talks pushed Cairn`s share price up 2.3%. At the current price of Rs 144.30 a share, Cairn Energy`s 69% stake will be around Rs 177 billion. […]
The share price of Patni Computer Systems has surged over 8 per cent in the last two days on market buzz that IBM is in talks to acquire around 25 per cent in the company. With Patni’s market cap at Rs 7,211 crore on close of trading today, the acquisition could cost IBM around Rs 2,000 crore. Some investors are planning to offload their stake in the company. If IBM buys 25 per cent, it will have to make an open offer for an additional 20 per cent stake as per the Takeover Code of the Securities and Exchange Board of India. […]
Telsima Corp. has raised $50 million in new funding in an effort to secure a strong foothold in India's broadband wireless market. Telsima, which was founded in Santa Clara in 2004, is a maker of broadband wireless equipment for telecom service providers. Telsima's chief executive officer Alok Sharma has a vision to make the company a “global telecom franchise out of India” by focusing on the Indian market. […]
Citigroup Venture Capital (CVC) is believed to have bought 85% stake in retail brokerage Sharekhan for roughly Rs 650 crore, according to officials involved in the transaction. The private equity arm of Citigroup is said to have bought the stake from Sharekhan’s promoters and a few other investors. The final structure of the deal will be announced on Monday, a top company official told ET, while declining to divulge details. […]
As the Bombay Stock Exchange successfully completed the demutalisation process as mandated by the Securities and Exchange Board of India, all eyes were focused on new investors who would be picking up the BSE’s remaining 41% stake. The names remain confidential at the moment, but sources close to the development said S “Kris” Gopalakrishnan, CEO-designate, Infosys Technologies, had picked up 1% in the BSE. Gopalakrishnan did so in his personal capacity, sources close to him said. When contacted, an Infosys spokesperson said Gopalakrishnan was unavailable for comment as he was abroad. […]
International Finance Corporation (IFC) is looking to sell its 12.5% stake in Global Trade Finance (GTF), a Mumbai-based integrated trade finance company. IFC, which is the private equity arm of World Bank, is learnt to be in discussions with global … […]
The Bombay Stock Exchange Ltd (BSE) on Friday said it had completed the sale of 51 per cent of its equity shares to 19 domestic and foreign investors, including 10 per cent to two foreign stock exchanges. The BSE, in the process, reduced its brokers' stake to 49 per cent in accordance with the government's directives. […]
Global investment major AMP Capital Investors is launching a $500 million equity fund sometime soon this year to invest in infrastructure in India and China. This will be the third such fund from AMP. The company has already invested $100 million in Indian infrastructure from its earlier two funds and is planning to invest an additional $50 million. The major investments of AMP’s infrastructure funds include Indraprasta Gas (IGL), Bharti Telecom and Pipavav Port. […]
Atticus Capital LP (“Atticus”) announced today that an affiliate was selected by the Bombay Stock Exchange (“BSE”) to acquire a 4% interest in BSE.
Commenting on the investment, Atticus founder Timothy Barakett said, “We are excited by this opportunity to … […]
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