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Financial services firm Religare Enterprises has submitted a non-indicative bid to buy the Asian private banking assets of Dutch insurance and banking major ING, said a person familiar with the development. Zurich-based financial services firm Credit Suisse and a couple of Singapore banks are also said to be in the fray for the business that manages assets of e11 billion (Rs 75,250 crore), he said, requesting anonymity. […] The government plans to launch a venture fund to promote green technology research. The size of the fund and other specifics will be determined by the National Mission on Strategic Knowledge for Climate Change (NMSKCC). The initiative is separate from a government plan launched in 2007 to subsidize new companies to manufacture photovoltaic cells and panels. NMSKCC, which is in the process of preparing a mission document with milestones for promoting green technologies, said it will identify key institutes that will be designated as centers of excellence in climate research. […] International Coal Ventures Pvt. Ltd (ICVL), a company set up by five state-owned firms, is in talks with a leading coking coal producer in the US for acquiring a stake in the company as a precursor to accessing mining concessions in that country. ICVL, owned by NTPC Ltd, Steel Authority of India Ltd(SAIL), Coal India Ltd (CIL), Rashtriya Ispat Nigam Ltd(RINL) and NMDC Ltd, is being advised on the transaction, code-named “Project Roy”, by Giuliani Partners Llc, a management consulting business founded by former New York City mayor Rudolph Giuliani. […] Amidst a volatile market, education is emerging rapidly as a safe bet for venture capitalists and PE investors. Experts believe for the next 4 to 5 years, education is going to attract significant investments. The movement in the market is already visible with venture capitalist Matrix Partners India pumping in Rs 100 crore in FIITJEE and PE player Franklin Templeton putting in Rs 50 crore in Career Point. More such big-ticket investment deals are expected in coming times, according to the market sources. […] Private equity funds seem to be hot with business houses and the latest to float one is the diversified Mahindra & Mahindra (M&M) group. The group has formed an in-house private equity fund, Mahindra Partners, which will be the group's growth driver in the future according to Anand Mahindra, vice-chairman and managing director of M&M. […] If emerging India needs to invest in its infrastructure, private equity players do not see funds as a hurdle to the big India story. PE players ET spoke to on Wednesday in Ahmedabad said raising funds for infrastructure projects was not really a challenge . The PE players were talking to ET on the sidelines of VC Circle investment Forum’s meet themed ‘Capital Strategies for a Reviving Economy’ on Wednesday. However, the top officials of some of the prominent PE funds were concerned about stringent regulations in the capital-intensive sector. The PE players believed, rationalisation of regulations could make it easier for them to fund the projects. […] With more practical insights than ever before, you simply cannot afford to miss the launch of Annual CROSS BORDER M&A SUMMIT on 17 September & 18 September 2009 at The Leela Kempinski, Mumbai. […] Private equity and venture capital investments in the country's renewable energy space totalled USD 527 million during the past four years, accounting for nearly a fourth of the total transaction valuations. “PE,VC players have invested USD 527 million in the country's renewable enrgy sector– 24 per cent of te total transaction value in India for the period January 2005-July 21, 2009,” global consultancy firm Ernst &Young said. During the four-year period, the merger and acquisition and PE/VC activity in India's renewable energy space stood at USD 2.15 billion. The average deal size stood at USD 69.5 million during the same period. […] Petronet LNG, the country's biggest liquefied natural gas importer, is in talks with Canadian producer Interoil on buying a stake in Interoil's proposed Papua New Guinea project, a senior executive said on Tuesday. Petronet Managing Director Prosad Dasgupta also told reporters on the sidelines of the LNG World conference in Perth that the company was seeking more LNG from Chevron 's Gorgon project in western Australia and from an ExxonMobil project in Papua New Guinea. (Forbes) […] Tata Capital, the financial services arm of the Tata group, is likely to come out with a private equity fund shortly. This was announced by Tata Capital managing director Praveen P. Kadle on Tuesday. Kadle declined to say what could be the size of the private equity fund, but according to early indications, the fund-size will initially be of $350-400 million. Tata Capital has an Rs8,500 crore alliance with the Japanese Mizuho Financial Group. Kadle said the alliance with Mizuho provided the right platform for Indian corporates to tap the Japanese market. He said Japan offered tremendous opportunities for Indian companies to raise capital through equity as well as debt. […] |