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The movie and entertainmnet company Adlabs Films Limited, part of the Reliance Anil Dhirubhai Ambani Group (ADAG) has acquired a controlling stake through an agreement in the Malaysian Lotus Five Star Cinemas for operating a 51 screen cinema there. Adlabs has apresence of 160 screens across India besides an international network of 220 screens spread in the East, mid-West and some parts of the United States. The company plans to have a footprint across the island and will showcase mainstream Hollywood and Chinese films in addition to movies in Indian languages such as Hindi and Tamil. […]
HealthCare Global Enterprises Ltd said on Monday PremjiInvest, a fund sponsored by Wipro's Azim Premji, has invested $20 million in the company. Healthcare Global manages a network of 10 cancer care centres across India. “The investment would enable us (to) ramp up fast across various geographies besides enhancing our core research initiatives and bring cutting-edge technologies,” HealthCare Global's Chairman and CEO Ajai Kumar said in a statement. PremjiInvest's chief investment officer, Prakash Parthasarathy and Bobby Mustafa have been inducted into the board of HealthCare Global, the company added. (Reuters) […]
Goldman Sachs will invest Rs 700 crore in Mahindra & Mahindra (M&M) by picking up convertible debentures which will give it a 3.68% stake in the auto major. The board of M&M, India’s largest utility vehicle major, recently approved raising of additional resources through a private placement to outside investors for the first time in its 62-year history. “This innovative structure is great for Mahindra as not only has it got a good price but also flexibility on the use of funds as it is a rupee-based equity structure,” ED Arun Nanda said. Each FCD is convertible into one equity share of Rs 10 each in the company at a price of Rs 745 per share, including a premium of Rs 735 per share. […]
Sandalwood Partners, an early-stage venture capital (VC) firm largely focused on the technology sector, is drawing up plans to raise a second fund to the tune of $350 million. Sandalwood, which operates a $120-million fund with investments in companies such as SemIndia, Celestial Semiconductors and Arasor, is expected to launch its new fund in late 2009. Managing director Bob Kondamoori said the new fund is in anticipation of an increase in deal-flow as well as the number of partners. Unlike the first one, the planned second fund will be sector-agnostic and look at early-stage investment opportunities across different industries. Sandalwood usually invests about $10 million in a company, mostly those with the potential to develop intellectual property (IP). It typically looks at investments in the areas of telecom, outsourcing services, technology and renewable energy in India and China. […]
Midas Communication Technologies Pvt Ltd, a Chennai-based telecommunications equipment company, plans to raise $25 million (Rs 100 crore), of which the International Finance Corporation (IFC) plans to finance $12 million as equity investment. Argonaut Ventures, an existing investor in Midas, will fund $3 million. The other $10 million will be raised from a new equity investor. Debt financing has also been raised to satisfy additional funding requirements, according to information available in the IFC, part of the World Bank. […]
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