December 2008
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Altima India Master Fund mulls 14% stake in Indian Film Co.

Asian hedge fund Altima India Master Fund is looking at picking up 14.39 per cent in AIM listed The Indian Film Company. Altima India Master Fund is interested in acquiring 7,913,500 ordinary shares in the company, which represents 14.39 per cent of the company's issued share capital. Altima India Master Fund is a controlled undertaking of Altima India Master Fund Limited and both companies are domiciled in the Cayman Islands. The fund is advised by Altima Partners Limited, a UK partnership, authorised and regulated by the FSA. […]

Yahoo acquires 30% stake in Chennai-based telephonic search services firm

Yahoo picked 30 percent stake in Info Network Management Company Pvt Ltd (INMAC), promoters of CallEzee services which enable users to gain access to directory services through use of telephone. Yahoo has routed the deal through its Dutch subsidiary and will have representation on INMAC’s board post acquisition. Call Ezee currently offers services in 14 cities across the country including Mumbai, Delhi, Chennai, Bangalore, Hyderabad and Kolkata. […]

UK-based PE firm 3i to retain India operations

UK based private equity firm 3i will retain presence in India even as an ongoing global restructuring programme prompts the firm — said to be the world’s largest listed PE outfit — to close down its key Hong Kong and Shanghai offices. Although the move is aimed at pruning costs, sources said that it also underscores the growing importance of the Indian market compared with other markets in Asia. The move to continue operations here also comes against the background of 3i’s recent plan to cut its global headcount by about 15% owing to the tough market conditions. The offices that will continue to operate include Mumbai and Singapore. The Mumbai office will coordinate the firm’s investments for companies across the country, while Singapore will be the hub for the whole of Southeast Asia. 3i Singapore will be responsible for investments in Singapore, Indonesia, Malaysia and Thailand. […]

Tata Capital to raise $500 Million for PE Venture

Mumbai based non-banking financial company (NBFC), Tata Capital plans to raise $500 million as its first corpus of its private equity (PE) venture. With expansion such as investment banking, retail banking, corporate finance and retail loans on the mind, the NBFC will approach both domestic and international investors for the fund. The company is also leveraging its tie-up with Japan's Mizuho Securities to offer combined services such as investment banking, broking, PE and wealth management and thus strengthen its PE business. “Market conditions are tough and there are mid-tier companies that need funding for their expansion plans. […]