August 2009
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Modern India to raise Rs 150 cr PE funds for proposed IT SEZ

Realty firm Modern India today said that it has initiated dialogues with private equity firms to raise Rs 150 crore for part-funding the roposed IT/ITeS Special Export Zone at Khopoli in Maharashtra. “We are talking to private equity players both in India and abroad, to raise Rs 150 for developing the IT/ITeS SEZ at Khopoli,” Modern India's Chairman V K Jatia said. The deal is likely to be sealed within the next six months, he said, adding that the company might have to dilute upto 30-35 per cent stake in the project for raising the fund. […]

IIGF picks up stake in Tejas

The $200 million fund, which focuses on small and medium enterprises, picked up the stake in the optical networking equipment manufacturer in a secondary deal. FSL refrained from giving details. “It's a complete stake sale. Unfortunately, we can't disclose the seller's name or value of the transaction,” a spokesperson said. Existing investors in Tejas include Battery Ventures, Cascade Capital Management, Mayfield Funds, Intel Capital, Goldman Sachs and Sandstone Private Investments. […]