|
|
Alcan Inc., the world's third-largest aluminum company, agreed to sell its 45 percent stake in India's Utkal Alumina International Ltd. to its partner in the venture, Hindalco Industries Ltd. The sale probably will be completed during the third quarter, and the financial terms weren't disclosed, Montreal- based Alcan said today in a statement. Hindalco already owns the remaining 55 percent of Utkal Alumina. The venture was established in 1992 to develop a bauxite mine and alumina refinery with potential capacity of as much as 3 million tons a year in the Indian state of Orissa. Bauxite ore is refined into alumina, which is smelted into aluminum. Alcan said in April, when it announced plans to sell its stake, that it didn't have enough influence in the venture. […]
BCCL has acquired a stake in Pampered Home, a Mumbai-based company which specialises in the design, manufacture and retail of designer name plates under the brand 'Identiti.' Founded in 2003 by Seema and Rattan Joneja to fulfill the need of homemakers, it commenced smart retailing, (i.e. small format stores in high footfall areas targeting a large catchments.) in October 2004 at Inorbit Mall and Nirmal Lifestyle in Mumbai. Each of the name plates designed & manufactured by Identiti are personalised to suit a customer's specific needs. […]
Kotak Realty Fund on Wednesday said it had raised Rs 1,600 crore from domestic investors to invest in diverse real estate asset classes across the country over a period of three years.
Stating that the average investment would be in the range of $20-25 million, KRF's CEO S Sriniwasan told reporters here that the average holding would be of 3-5 years.
“We will invest both at a project level as well as in the […]
Media house TV18, Financial Technologies India Ltd and Liberty Shoes are among the seven bidders interested in buying a stake in Delhi Stock Exchange (DSE) as the defunct bourse gets ready to restart operations. “So far we have received seven bids, including Financial Technologies, for 51 per cent brokers' stake.” BB Sahny, DSE director and chairman of the demutualisation committee, said. Two foreign entities Kuwait-based Noor Investments Ltd and US-based Horizon Assets Management Company, domestic footwear manufacturer Liberty Shoes and a group company of TV18 have also bid for picking up stake in the bourse. […]
US-based mobile value-added services provider Kirusa has received 10 million dollars in funding from venture capital firms Nexus India Capital and Helion Venture Partners, reports Our Bureau in Mumbai. As a result of the investment, Helion Venture MD Ashish Gupta and Naren Gupta from Nexus would join the board of directors of the company. […]
Biocon Ltd today said it will sell its enzymes venture to Denmark-based Novozymes for USD 115 million to focus on core bio-pharmaceuticals business. The agreement between the two companies has been signed today and the business transfer agreements are expected to be dosed before the end of third quarter of calendar year 2007, the company said in a communique to the Bombay Stock Exchange. “We believe this is the right time to divest our enzymes business and focus on unleashing the full potential of our bio-pharma businesses,” Biocon Chairperson and Managing Director Kiran Mazumdar-Shaw said. […]
India’s largest conglomerate Tata Group is in the early stages of evaluating a bid for the Jaguar and Land Rover brands which, if completed, would rank among India's biggest overseas takeover deals, The Daily Telegraph reported Wednesday . Tata Motors, which is controlled by Ratan Tata, India's best-known businessman, is understood to have instructed advisers to begin evaluating the merits of a joint offer for Jaguar and Land Rover, which have been earmarked for disposal by struggling American car giant Ford. Analysts suggest that Jaguar and Land Rover may fetch about USD 1.5 billion. Sources told CNN-IBN that Tata Motors' evaluation of a bid was at an “exploratory” stage and that speculation is rife that Tata Motors has already signed a confidentiality agreement with Ford in recent days. […]
GVFL Ltd, India’s pioneer venture capital company today on the completion of its 17 years of successful seed and early stage investing shared its growth plans till 2010. GVFL plans to enhance its existing fund portfolio by setting up Rs. 250 crore SME Technology Venture Fund, which would invest in both early and growth stage companies. “From this SME Fund GVFL will not only explore new investment opportunities but also provide additional investments to its existing investee companies who have good growth potential.” Said Mr. Vishnu Varshney, CEO of GVFL Ltd. GVFL is also looking at setting up a Tourism Fund in the near future and had started the initial planning process for the same. This fund with will be set up in association with the Government of Gujarat. […]
To signify its growing focus in the Indian online advertising networks, Yahoo! today announced an over 35% investment in Gurgaon-based Tyroo Media, , an advertising and public relations company and part of Smile Interactive Technologies Group. The deal size was not disclosed. The move comes as part of Yahoo's strategy to invest aggresively in technology and sales networks through small and medium-sized advertisers and publishers in India. George Zacharias, managing director, Yahoo! India said: “Through this investment, Yahoo! will act as a catalyst for the entire ad-network industry, which is still in a nascent stage, in India.” The investment gives Yahoo Inc a representation on the Tyroo board. […]
Helion Venture Partners, backed by Silicon Valley venture capital investor Sutter Hill Ventures, is emerging the fastest deal-maker this round of early-stage VC investing in India. The $140 million fund closed it tenth deal within eleven months of launch on 17 July with a $10 million infusion (with Nexus India Capital) in New Jersey-based Kirusa Inc. Next week the fund is slated to announce another mid-sized investment in an undisclosed knowledge process outsourcing company. With these two new deals, Helion would have deployed close to half of its corpus. “It is safe to say we will not run out of money anytime soon,” says Ashish Gupta, managing director, Helion Venture Partners. So far, half of the fund’s investments comprise early stage companies and half, mid-sized companies. Deal sizes have varied between $ 1 million and $ 6 million. Recent deals include Bangalore-based equity research firm Amba Research and Noida-based publishing outsourcing firm Mindworks Global. […]
|
Post your messages.Please refrain from posting offensive messages. IndiaPE accepts no liability for the consequences of your reliance on these postings and messages.
|