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Reliance Capital Ltd. may sell a 20%-26% stake in its life insurance unit – Reliance Life Insurance Co. – in the fourth quarter of the current fiscal year, its chief executive said Wednesday. “It (sale) could be to a strategic or financial partner … most likely it will be foreign company,” Sam Ghosh told Dow Jones Newswires over the phone. […] The domestic and international private equity players see India as the second most attractive destination after China and feel that the country may lead the global PE recovery, according a survey. As many as 33 per cent of investors, who participated in the survey, ranked China as the most attractive market, followed by India (29 per cent), other emerging markets (19 per cent) and developed markets (20 per cent). “India offers immense opportunities for PE investments and India will likely be at the forefront of a global PE recovery,” said a survey by research firm KPMG. […] As part of the growth strategy for the Sugar business, EID Parry India Limited, has acquired 76% stake in the equity of M/s Sadashiva Sugars Limited based in Bangalore with its factory at Bagalkot, Karnataka. EID Parry is a leading manufacturer of sugar in Tamil Nadu and Puducherry with 5 factories having sugarcane crushing capacity of 19000 TCD and a Cogen capacity of 84.5 MW. It also operated two distilleries with a capacity of 135 klpd. This acquisition will be EID Parry Sugar Division's first entry into Karnataka. […] |