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Reliance Technology Ventures Limited (RTVL), the corporate venture capital arm of the Reliance ADA Group, has invested an undisclosed amount in E-Band Communications Corporation (EBCC) as a lead investor for its Series B round. Reliance Technology Ventures Ltd. is a 100% subsidiary of Reliance Capital Ltd. EBCC was started in 2003 to develop ultra-high capacity wireless communications systems for the 70/80 GHz E-band spectrum, recently licensed by the US Federal Communications Commission for commercial communications. EBCC has an exclusive license agreement to co-develop products and communication systems around this technology, with the $30 billion Northrop Grumman Corporation, one of the world’s largest defense, aerospace and technology companies. EBCC’s technology enables the highest possible wireless transmission speeds ranging from 1 Gigabit per second up to 10 Gigabits per second. The funding round includes existing investors namely ADC and one of the largest US telecom companies along with Reliance Technology Ventures Ltd., Investec and Hercules Technology Growth Capital. […]
Dish TV has sold a 4.9% stake to a private equity group, and expects more finance-raising soon. Indivision Capital bought the 4.9% stake for Rs2.5 billion, valuing the DTH operator at Rs42 billion. With Dish TV aiming to invest Rs11 billion over the next two years as competition in the Indian DTH sector ramps up, more corporate activity is likely. The deal will see a first tranch of equity shares issued, at Rs100 per share. A second tranche will convert warrants at Rs130 per share. Dish TV, which is backed by the Zee Group of companies, had 2.6 million subscribers at the end of November, with 126,000 added in that month. The new chas will be used for subscriber acquisition, marketing and set-top boxes.( Rapid TV News) […]
Almondz Global Securities Ltd has announced that the Board of Directors of the Company at its meeting held on December 06, 2007, inter alia, has considered and discussed the proposal for making further issue of capital through preferential allotment of Equity Shares as well as Warrants. […]
India's House of Pearl Fashions Ltd said it has bought a 50 pct stake in UK-based marketing company FX Imports Ltd, through its Poeticgem unit, to gain customer base in the high fashion mid-market segment. The financial details of the deal were not disclosed. The acquisition will be funded through internal accruals and the company has an option to buy the remaining 50 pct stake in FX Import over the next five years. FX Imports reported revenues of 800 mln rupees in the previous fiscal year and is aiming at annual revenues of 2 bln rupees in three years, the ready-to-wear apparel manufacturing company said in a statement. House of Pearl recently tied-up with European marquee brand Lerros to set up a retail chain in India, and is on the lookout to acquire retail and distribution firms in the US and Europe.(Forbes) […]
Kamat Hotels has bought a 60% stake in Concept Hospitality for Rs 127/share, reports CNBC-TV 18’S Rahul Arora. According to Rahul Arora, Kamat Hotels has acquired 60% at Rs 120 per share. Concept Hospitality is not a listed company; it is a sister concern of the promoter Vithal Kamat who holds 60% in his personal capacity which is now been transferred to the listed entity Kamat Hotels (India) Ltd. This essentially gives Mr. Kamat an indirect holding into Concept Hospitality via his 73% holding that he currently has in the listed Kamat Hotels. The other 40% in Concept Hospitality is currently been held by Mr. Kannampilly who still retains 40% as things stand right now. Concept Hospitality is a management and consultancy company for hotels. They do not own and construct them but they manage and operate hotels. Some of the key hotels they manage are Seasons in Pune; they have a hotel called Wall Street in Jaipur and Manor Floatel in Delhi. All of these now goes under the management of Kamat Hotels. So that’s about 650 rooms that will come under the fold of the listed Kamat Hotels entity. […]
International Finance Corp., a unit of the World Bank, may consider buying as much as 10 percent of IFCI Ltd., India's oldest project financier, which is seeking a new investor. “We are in talks with IFCI,'' Paolo Martelli, IFC's regional director for South Asia, said in an interview in New Delhi today. IFCI, the third best performing stock on India's BSE500 Index this year, plans to sell a 26 percent stake to a strategic investor to improve its financial performance and exit non- performing assets or those that needed to be liquidated. The lender is also in talks with multilateral institutions. The board on Dec. 1 agreed to allow Indian state-owned banks to convert bonds issued by IFCI into equity, the company said in a statement to the Bombay Stock Exchange on Dec. 4. State-owned insurers that have lent money to IFCI will convert a part of their bonds to retain their stake following the fresh share sale. […]
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