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Concept Group takes a strategic stake in Zzebra PR

Concept Communication has taken a strategic stake in the public relations business of Zzebra. This strategic partnership with Concept Communication would result in a stronger team and a wider footprint for Zzebra PR, which will now cover 12 cities and 36 other major centres across India, as also in the UK, Middle East and Singapore. Speaking on strategic alliance, Vivek Suchanti, Managing Director, Concept Group, said, “Zzebra is a fast-growing company and has created strong brand equity in a short span of time. The public relations industry in India is growing at a rapid pace, and we believe that consolidation of resources and skill sets between like-minded organisations will help us emerge as a leader in the space. With this strategic partnership, we will be enhancing the range of services provided by the Concept Group of Companies.” […]

Unitech realty fund raises $300 mln

A realty fund launched by India's No. 2 listed developer, Unitech Ltd, has raised $300 million from international investors for the firm's projects, a company spokesman said on Thursday. “This is the first tranche. Another $300 million will be raised by September,” the spokesman said. He declined to name the investors. The Economic Times newspaper, citing an identified senior Unitech executive, said a Japanese bank and some Europe-based wealthy individuals were the investors in the Unitech International Real Estate Fund. […]

Controls & Switchgear raises Rs 100 cr through PE funding

Controls & Switchgear Co today said it has raised Rs 100 crore through private equity funding from GE Commercial Finance India, which will be used for capacity expansions and to pursue inorganic growth avenues, among others. The firm is a manufacturer of power generation, distribution and protection products including low voltage switchgear and engineered power conductors. In a statement, Controls & Switchgear said the fund would used for capacity expansions to strengthen its R&D credentials and pursue inorganic growth opportunities. […]

IFFCO to invest $100 mln in Australia's Legend

Indian fertiliser cooperative IFFCO will invest $100.5 million for a significant stake In Australian mining firm Legend International Holdings, it said on Wednesday. Under the deal, IFFCO will purchase 15 million shares in Legend, which owns phosphate deposits in Queensland, Australia, and hold options for buying another 30 million shares, in a phased manner. IFFCO has also agreed to buy and distribute 4 million tonnes of concentrated rock phosphate, or 80 percent of Legend's output, through its farming network. IFFCO has the right to nominate two members on Legend's board. Last year, it had agreed to invest $100 million in Senegalese phosphates producer ICS for a majority stake and supplies of phosphoric acid. […]

Foreign funds eye Citi stake in HDFC

Half a dozen foreign institutional investors (FIIs) are eager to pick up Citigroup’s 11.74 per cent stake in Housing Development Finance Corporation (HDFC) should the US financial services giant want to sell its holding. Citigroup, which has been involved in a massive cost cutting exercise, has recently sold some of its non-core investments and this has sparked speculation that it may sell its stake in HDFC. HDFC chairman Deepak Parekh told reporters after the annual general meeting here today that the sense he got after discussions with Citigroup officials was that the US giant would hold on to its stake. But if it decided to sell, Parekh said there were “enough buyers” who were ready to pick up the stake.Parekh added that after reports surfaced that Citigroup might be looking to sell its stake in HDFC, at least six FIIs had approached him evincing interest. […]

Eastgate picks equity stake in Avendus Capital

Eastgate Capital Group is picking up an equity stake in financial services company Avendus Capital Pvt Ltd for Rs 100 crore. Eastgate is the private equity subsidiary of NCB Capital, the investment banking arm of the National Commercial Bank (NCB) of Saudi Arabia. Avendus Capital will use the fund to increase its presence in the institutional broking business. Ranu Vohra, managing director and CEO of Avendus Capital, said the team at Eastgate will help the company build its global network of relationships, particularly in West Asia, which is increasingly becoming the source of capital for many Indian firms He, however, did not disclose the precise equity stake that will be picked up by Eastgate. Avendus’ list of investors include Americorp Ventures and Anil Godhwani. […]