March 2010
« Feb   Apr »

Contact us

Biyani to sell stake in non core businesses

Three months after Kishore Biyani began restructuring Future Group’s 22 companies into two key business groups—retail and financial services—the chairman of India’s largest shopping chain by market value wants to offload stakes in units not part of those core categories to raise money needed to fund expansion plans. Biyani wants to cap his stake in the non-retail and non-financial services business at 26% and keep 40-45% in the operating companies. “We have two kinds of businesses. One is where we are running and operating (companies), and others we look at as mentor capitalists or financial investors,” Biyani said in an interview on Tuesday. […]

Alok Industries raises Rs 460 crore through QIP

Alok Industries Ltd has announced with reference to the Placement of equity Shares of the Company under Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements), 2009 (SEBI ICDR Regulations) up to Rs 350 Crore with an option to issue an additional equity shares upto Rs 110 crore. The total issue size including the issue of additional equity shares was upto Rs 460 crore. […]

Helion, Foundation Capital and IFC invested $ 10 million in Azure Power

Helion, Foundation Capital and IFC have reportedly invested $ 10 million (Rs. 45 crore) in Azure Power, a leading solar energy developer and operator in India. Helion and Foundation Capital were represented by Indus Law, which was led by Partner Suneeth Katarki and Principal Associate Satyasree Akella and Associate Sarah Abraham. […]

Intel Capital Invests $23 Million in 3 Indian Companies

Intel Capital, Intel Corp.'s global investment organization, announced that it is investing $23 million in three Indian technology companies – July Systems, KLG Systel and MCX. July Systems provides mobile Internet solutions that enable media brands to publish, distribute, monetize inventory and personalize services for consumers. KLG Systel provides smart grid and energy management and efficiency solutions to power utilities and end-users. MCX is a commodity futures electronic exchange in India that has permanent recognition from the Government of India for facilitating online trading, clearing and settlement operations for futures market across the country. […]

Kuwait's Zain approves Bharti's bid to connect with Africa

India's top telecom company Bharti Airtel was set to become the 7th largest global player in this business, with an approval from Kuwait's Zain to buy its African assets, other than those in Morocco and Sudan, for $10.7 billion. 'The company confirms that the board of directors of Zain met in Kuwait on Wednesday, March 24 to review the latest developments and negotiations related to this matter,' the Kuwaiti company said in a statement Thursday. 'The board is pleased to report that due diligence process has been completed and that the parties are finalising definitive agreements which are expected to be signed in the coming days.' […]

AT&T buys 8% of Tech Mahindra for $35 mn

AT&T Inc has bought an 8.07% stake in Indian IT services firm Tech Mahindra Ltd for USD 34.57 million as per the priced agreed in a 2005 pact, data submitted to the stock exchange showed on Tuesday. AT&T, which is one of the leading clients of the Indian outsourcer, bought 9.87 million shares of Tech Mahindra through off-market purchase on Monday, according to data on the NSE website. Tech Mahindra said the company promoters sold the shares to AT&T at USD 3.5 per share under an agreement which dates back to 2005. […]