March 2010
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Acumen Fund to invest $375,000 in Bihar based Husk Power System

Venture capital firm Acumen Fund announced to invest $375,000 in Bihar based Husk Power Systems (HPS), a rural electrification company that will establish decentralized power generation to remote villages in India. It uses novel biomass gasification technology to convert abundant rice husks into combustible gases, which then drive a generator to produce electricity. “Our goal is to have our model help to deliver rural electrification to India's villages and eventually to rural areas around the world,” said Gyanesh Pandey, Co-Founder and CEO, HPS. […]

Kings XI Punjab's owners plan to sell IPL franchise

Kings XI Punjab's joint owner Mohit Burman on Tuesday said the owners of the Indian Premier League franchise could look at selling the team if valuation is more $250 million. However, co-promoter Wadias' spokesperson clarified that there is no substance in reports relating to sale of stake by the promoters. “The teams have now been auctioned for as much as $370 million. So why not if have a good offer that is substantially more than $250 million. But we have no offer… there is no buyer,” Burman, who is Director of FMCG major Dabur, said. […]

Swiss Lonza eyes stake in India drug firm

Swiss drugs industry supplier Lonza is in talks to buy over 51 percent stake in India's Aptuit Laurus in a deal valued at $77 million to $99 million, the Business Standard reported on Wednesday. (Reuters) […]